To reach the targets for economic growth for the 2016 – 20 period, the southern province of Binh Duong will focus on eight major works this year to encourage new investment.
The northern province of Quang Ninh always creates favourable conditions for enterprises from the Republic of Korea (RoK) to land investments in the locality.
Representatives of the World Bank (WB) had a working session with authorities of southern Binh Duong province on January 17 to discuss WB-funded projects and local infrastructure investment demand.
Non-equity modes (NEMs) of investment, or cross-border investment without capital contribution, have become an increasingly important form for foreign capital attraction and Vietnam should raise appropriate policies to better lure the inflow, experts said.
Vietnam’s economy expanded by 7.1 percent in 2018, but its increasing openness and reliance on foreign investment suggest it is unlikely to be spared from the global growth slowdown arising from rising trade protectionism and tighter financial conditions.
2019 will be a busy year for ministries looking to cut business prerequisites, and firms should contribute to making the process more efficient, said Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM).
HCM City attracted US$7.07 billion in foreign direct investment (FDI) during 2018, a rise of 7 per cent on-year, according to the HCM City People’s Committee.
The Electricity of Vietnam’s Southern Power Corporation (EVNSPC) has reported that it increased investment in key southern provinces of Binh Duong, Dong Nai, Long An, Tay Ninh and Ba Ria-Vung Tau for industrial development in 2018.
The central city of Da Nang has approved a master plan for the development of its logistics infrastructure by 2030 with total investment of 13.7 trillion VND (606 million USD).
Alphabet Inc’s Google is investing over $1 billion to establish a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs.
Leaders of the northern province of Hoa Binh handed approval decisions on nine projects and signed Memorandums of Understanding with 15 investors on 19 projects with total registered capital of VND94 trillion (approximately US$4 billion), at an investment promotion conference on December 11.
Vietnam registered to invest 303.5 million USD abroad in the first 11 months of this year, plus 55 million USD worth of additional capital for existing overseas projects.
Hanoi is willing to assist German investors by connecting them with Vietnamese businesses to run projects in the capital city, stated Chairman of the municipal People’s Committee Nguyen Duc Chung.
The production index of the electronics industry for the first 10 months of the year increased by more than 17% year-on-year, according to the HCM City Department of Industry and Trade.
Commitments on investment and services in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will lure more quality foreign investment inflows to Vietnam.
A forum was held by the Central Institute for Economic Management (CIEM) in Hanoi on November 15 to discuss trade and investment cooperation between Vietnam and Japan.
In addition to trade and investment opportunities, the participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will offer Vietnam a chance to modernise its labour laws and industrial relations system, thus creating sustainable jobs and bringing practical benefits to workers.
The Ministry of Agriculture and Rural Development has approved a master plan on irrigation for the Tay Nguyen Central Highlands to 2030 with a vision to 2050 with total investment of more than 103 trillion VND (nearly 4.4 billion USD).
Developing eco-industrial parks would help Vietnam attract foreign direct investment and promote sustainable growth.
Vietnam will focus on handling bottlenecks and promoting the disbursement and effective use of official development assistance (ODA) and preferential loans from donors between 2018 and 2020, per a plan recently approved by Prime Minister Nguyen Xuan Phuc.