(VEN) - Registered and invested foreign direct investment (FDI) capital in January 2019 increased sharply compared to the same period last year, auguring well for FDI attraction this year. Thang Long Industrial Park (Vinh Phuc) According to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), Vietnam attracted US$1.9 billion in FDI capital in January 2019, up 51.9 percent from January 2018, while US$1.55 billion were invested, up 9.2 percent. Some 18 industries benefitted from new FDI projects, mostly processing, manufacturing, science and technology, and real estate. Japan ranked first among 51 countries and territories investing in Vietnam with almost US$364 million, accounting for 19 percent of the total. Goki Nobuta, General Director of the Thang Long Industrial Park (Vinh Phuc) Corporation just north of Hanoi said Japanese investment in Vietnam is growing strongly, and the recently completed first phase of the industrial park had … [Read more...] about Foreign investors start 2019 on the right foot
Asuu strike update 9 january 2019
The Government’s regular meeting-January 2019
THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness No. 09/NQ-CP Ha Noi, February 03, 2019 RESOLUTION THE GOVERNMENT’S REGULAR MEETING – JANUARY 2019 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated June 19, 2015; Pursuant to the Government’s Decree No. 138/2016/ND-CP dated October 01, 2016 promulgating the working regulation of the Government; Based on the discussion of the delegates and the conclusion of the Prime Minister at the Government’s regular meeting in January 2019, held on January 31, 2019, DECIDES 1. On the socio-economic situation in January 2019 and the implementation of the Government’s Resolution No. 01/NQ-CP The Government agreed that the socio-economic situation in January 2019 continued to witness positive changes. The people believed in the leadership of the Party and the State. Most ministries, agencies and localities had issued specific programs and action plans to … [Read more...] about The Government’s regular meeting-January 2019
Vietnam lures $1.9 billion in FDI in January
Foreign direct investment (FDI) pledged in Vietnam witnessed a significant yearly increase of 52 per cent to US$1.9 billion in the first month of this year, according to the Ministry of Planning and Investment. A part of HCM City. The city lured the largest share of FDI in January.-Photo nhandan.org.vn January’s FDI disbursement also rose 9.3 per cent year-on-year to $1.55 billion, thoibaonganhang.vn reported, citing the ministry’s data. Meanwhile, the capital pledged for stake acquisitions reached $761.8 million, up 114 per cent compared to the same month last year, the data noted. One remarkable project was Japanese Kyoshin Vietnam’s project which was allowed to raise its investment by $134.7 million. Based in HCM City, the factory specialises in manufacturing molding products and machinery. Others included a $65-million logistics project funded by Katolec Global Logistics Vietnam from Japan in the northern province of Ha Nam and a Chinese-financed textile … [Read more...] about Vietnam lures $1.9 billion in FDI in January
Pig price increases by VND1,000 – 2,000 per kg in January, 2019
In the North, price of pig has been fluctuating at VND46,000 - VND50,000 ($1.98 - $2.15) per kilogram meanwhile in the South, pig price has been retailing between VND47,000 - VND52,000 a kilogram and in the Highlands and Central it is VND41,000 - VND50,000 per kilogram. Pig price surged because of dwindling supply caused by the foot-and mouth disease while demand for Tet holiday (the Lunar New year) is higher. Nguyen Xuan Duong, acting director of the Department of Livestock Production under the Ministry of Agriculture and Rural Development, said no fear for shortage of pork in the holiday because of abundant supply. Pork production leaped by 2 percent with 3.8 million tons while poultry meat went up by 6.5 percent with 115 million ton and eggs escalated by 11 percent with 11.8 billion ones. Mr. Duong said the industry and trade must importantly predict correct demand and supply in addition to increasing information of the supply to consumers and farmers to curb plentiful supply but … [Read more...] about Pig price increases by VND1,000 – 2,000 per kg in January, 2019
Standard Chartered forecasts Vietnam’s GDP growth at 6.9% in 2019
Standard Chartered Bank expects Vietnam to grow at a steady 6.9% in 2019, as the focus shifts to sustainable growth. FDI-driven manufacturing and stronger domestic activity is likely to support growth. This forecast is highlighted at Standard Chartered’s Global Research Briefing held on January 16th, in Ho Chi Minh City, drawing senior representatives from over 120 local and foreign corporate clients. The annual event discusses Standard Chartered’s recently published Global Focus - Economic Outlook 2019 report entitled “Fighting the current”, and its latest Global Research report on Vietnam entitled “Vietnam in 2019 – Steady and Sustainable Growth”. The event is part of the 2019 Standard Chartered Global Research Briefing series, which is organised by the Bank in major ASEAN cities to provide its clients in-depth insight and analysis on global, regional and local socio-economic trends that will have an impact on international … [Read more...] about Standard Chartered forecasts Vietnam’s GDP growth at 6.9% in 2019
Economic growth could reach 6.9% in 2019: VEPR
Representatives discuss Viet Nam’s economy 2018 and prospects for 2019. — VNS Photo Phuong Thao Viet Nam’s economic growth could reach 6.9 per cent in 2019, an increase of 0.1 per cent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Viet Nam is benefiting from the US-China trade war. The statement was made by Nguyen Duc Thanh, director of the Viet Nam Institute for Economic and Policy Research (VEPR) at a conference held in Ha Noi on Thursday. However, Thanh noted, the use of foreign exchange reserves to stabilise the value of the Vietnamese dong (VND), as the State Bank of Viet Nam (SBV) has done in recent years, is not a long-term solution when Viet Nam’s foreign exchange reserves are in fact small in scale. The pressure of exchange rates and inflation along with the regulation of restricting the use of short-term capital for medium- and long-term loans has caused the interest rate of VND to increase … [Read more...] about Economic growth could reach 6.9% in 2019: VEPR
New policies take effect in January, 2019
Decree No.149/2018/NĐ-CP elaborating Clause 3 Article 63 of the Labor Code regarding application of workplace democracy will come into effect since January 1, 2019 Decree No. 157/2018/ND-CP regulates the regional monthly minimum wage for those working at businesses. As of January 1, 2019, regional minimum wage levels will be increased as follows: Region 1 – VND4.18 million (US$180), Region 2 – VND3.71 million (US$160), Region 3 – VND3.25 million (US$140) and Region 4 – VND2.92 million (US$125). Decree No. 158/2018/ND-CP regulating on the establishment, reorganization and dissolution of administrative organizations will take effect since January 10, 2019. Decree No. 159/2018/ND-CP on management of dredging operations within seaport water and inland water areas will come into effect since January 11, 2019. Decree No. 160/2018 / ND-CP detailing the implementation of a number of articles of the law on natural disaster prevention and control will take effect … [Read more...] about New policies take effect in January, 2019
Regional monthly minimum wage to rise in January 2019
Regional monthly minimum wage for labourers working under contracts in Vietnam will range from 2.92 million VND (125 USD) to 4.18 million VND (180 USD) in 2019 (Photo: VNA) Hanoi (VNA) – Regional monthly minimum wage applied to labourers working under contracts in Vietnam will range from 2.92 million VND (125 USD) to 4.18 million VND (180 USD), depending on each region, as from January 2019. The Government has issued Decree 157/2018/ND-CP regulating the regional monthly minimum wage for those working in businesses. As of January 1 next year, regional minimum wage levels will be increased as follows: Region 1 – 4.18 million VND (180 USD), Region 2 – 3.71 million VND (160 USD), Region 3 – 3.25 million USD (140 USD) and Region 4 – 2.92 million USD (125 USD). These numbers mark an increase of 160,000-200,000 VND (6.8-8.5 USD) compared with 2018. Region 1 covers the rural and urban districts of Hanoi, HCM City, Hai Phong, Bien Hoa, Thu Dau Mot, Vung Tau … [Read more...] about Regional monthly minimum wage to rise in January 2019
Việt Nam’s GDP could grow more than 6.9% in 2019-20: NCIF
Workers assemble phone components in the production line at a Samsung factory. — Photo nhadautu.vnViet Nam News HÀ NỘI — Việt Nam’s economy could grow between 6.9 and 7.1 per cent in the 2019-20 period under stable macroeconomic conditions that could boost foreign direct investment (FDI) and promote economic restructuring and the implementation of free trade agreements (FTAs). The statement was made by Đặng Đức Anh, head of the Analysis and Forecast Division at the National Centre for Socio-Economic Information and Forecast (NCIF) at a conference in Hà Nội on Wednesday. However, Việt Nam faces risks in the upcoming period as economic growth becomes more dependent on the FDI sector. FDI enterprises in Việt Nam are focusing on a number of key commodities, so when there are trade disputes or conflicts, economic growth will be impacted significantly, Anh added. In addition, credit growth and a high rate of … [Read more...] about Việt Nam’s GDP could grow more than 6.9% in 2019-20: NCIF
EC yellow card for seafood reported to continue until January 2019
EC yellow card for seafood reported to continue until January 2019Trung Chanh Farmers dry fish in the sun. Vietnam has not received any notifications about yellow card monitoring of Vietnam’s seafood, which will be continued until January 2019 by the European Commission - PHOTO: TRUNG CHANH HCMC – Vietnam has not received any notifications about yellow card monitoring of Vietnam’s seafood, which will be continued until January 2019 by the European Commission (EC) under the European Union (EU), said Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP). Hoe told the Daily that the association had received information through a TV channel that the EU has decided to ask Vietnam to continue, until January 2019, dealing with issues related to the EC’s yellow card warning against the country’s inadequate action to handle illegal fishing. He also said that an official notification has yet to be received. … [Read more...] about EC yellow card for seafood reported to continue until January 2019