Foreign investment in Vietnam surgesBy Hung Le Workers at a foreign-invested enterprise in Long An Province - PHOTO: HUNG LE HCMC - New foreign investment approvals in Vietnam during the year to January 20 reached US$1.9 billion, rocketing by 51.9% year-on-year, according to the latest report by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. As of January 20, up to 226 new projects obtained investment certificates, with total registered capital of some US$805 million, surging by 81.9% year-on-year. In addition, 72 foreign-invested projects won approval to inject an additional US$340.2 million, equal to 74.5% of the figure in the same period last year. In addition, foreign investors acquired local company shares worth US$761.8 million in 489 transactions, surging 114% over the year-ago period. According to the Foreign Investment Agency, foreign investors injected capital into 18 sectors, of which the manufacturing and processing sector was … [Read more...] about Foreign investment in Vietnam surges
Foreign investments in vietnam
Legal complications remain for foreign investment in Vietnam infrastructure
Vietnam’s infrastructure has struggled to keep up with its robust economic and population growth. Rapid economic growth and urbanization are driving demand for roads, power, airports, ports, waste and water treatment, hospitals, and other public infrastructure for goods and services. Meanwhile, public funding is unable to meet these needs. The gap would have to be made up from other sources including private investment in the form of public-private partnerships (PPPs). To put it simply, the public sector has the ‘users’ (or customers) and land and can provide other incentives such as tax breaks. The private sector can bring in technology, capital and efficiency through experience. Other countries have successfully implemented PPPs. In Vietnam, a number of tools have been created to assist the government in its support for PPPs, aiming to create a much improved legal framework for PPP to revitalize investment in infrastructure projects. Legal issues update The … [Read more...] about Legal complications remain for foreign investment in Vietnam infrastructure
PPP investment in Vietnam’s infrastructure and impact of EVFTA and CPTPP
Vietnam’s infrastructure has struggled to keep up with its robust economic and population growth. Rapid economic growth and urbanization are driving demand for roads, power, airports, ports, waste and water treatment, hospitals, and other public infrastructure for goods and services. Meanwhile, public funding is unable to meet these needs. The gap would have to be made up from other sources including private investment in the form of public-private partnerships (PPPs). To put it simply, the public sector has the ‘users’ (or customers) and land and can provide other incentives such as tax breaks. The private sector can bring in technology, capital and efficiency through experience. Other countries have successfully implemented PPPs. In Vietnam, a number of tools have been created to assist the government in its support for PPPs, aiming to create a much improved legal framework for PPP to revitalize investment in infrastructure projects. Legal issues update The … [Read more...] about PPP investment in Vietnam’s infrastructure and impact of EVFTA and CPTPP
PM urges Japan’s Mitsubishi to expand investment in Vietnam
Prime Minister Nguyen Xuan Phuc has urged Japan’s Mitsubishi Corporation to expand investment in infrastructure, airport transport, seaports and energy, especially renewable energy, in Vietnam. PM Nguyen Xuan Phuc (R) receives CEO and President of Mitsubishi Corporation Takehiko Kakiuchi - Photo: NDO The leader made the suggestion at a reception for CEO and President of Mitsubishi Corporation Takehiko Kakiuchi in Hanoi on March 26, during which he stressed that the Vietnam-Japan extensive strategy partnership has developed strongly, comprehensively and practically across fields, with high mutual political trust. Japan was a leading economic partner, the largest official development assistance (ODA) supplier, the fourth biggest trade partner and No. 1 investor of Vietnam in 2017, he said. The PM affirmed that Vietnam attaches great importance to economic cooperation with Japan, noting Japanese investors’ prestige in Vietnam as well as their contributions to the … [Read more...] about PM urges Japan’s Mitsubishi to expand investment in Vietnam
RoK firms increase investments in Vietnam’s financial market
Woori Bank - Illustrative image (Source: Internet) Hanoi (VNA) - Institutions from the Republic of Korea (RoK) have increased their investments in Vietnam’s financial market significantly, expecting to make big gains thanks to the economic growth outlook. The investments are poured through the acquisition, capital contribution or comprehensive co-operation agreements with local financial companies and banks. Besides the two fully foreign-owned Shinhan Bank and Woori Bank in Vietnam, many other major RoK banks have also set up branches and representative offices in the country, such as KEB Hana, Industrial Bank of Korea, Kookmin, Busan and Nonghyup. Early this month, the Hana Financial Group was the latest case of the RoK’s financial institutions to expand business in Vietnam by acquiring a stake in the Bank for Investment and Development of Vietnam (BIDV), according to Business Korea. The Korean business portal quoted a local financial official that KEB Hana Bank was … [Read more...] about RoK firms increase investments in Vietnam’s financial market
DKSH boosts investment in Vietnam
By Thu Nguyet - The Saigon Times Daily HCMC - DKSH Vietnam Co. Ltd., a subsidiary of Switzerland-based DKSH Group, is expanding its investment in Vietnam given its good performance in Asia. He said at a news conference in HCMC that DKSH broke ground for the new distribution center covering 12,000 square meters in Hanoi this month to replace the two existing small distribution centers. The center is expected to double the capacity of covering the northern market in supplying services in healthcare, including medicines and medical equipment, consumer goods, specialty chemicals and ingredients, and technical solutions. Wolle said the company was studying what Vietnamese products could be exported to foreign markets and that Vietnam was seen as a material supply source for other markets. The company has been doing in seafood business for 20 years and has helped to build brands for different seafood producers from Europe in Vietnam, he said. DKSH Vietnam, formerly Diethelm Vietnam, has six … [Read more...] about DKSH boosts investment in Vietnam
Kagoshima prefecture’s firms keen to invest in Vietnam
Iwasak told Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc at a meeting in Hanoi on January 17 that Kagoshima holds advantages in agriculture, fisheries and food processing and Japanese localities have worked out their own strategies for seeking more business opportunities abroad and calling for foreign investment in Japan. He said the Kagoshima Chamber of Commerce and Industry will work closely with VCCI to arrange business exchange visits, hold business dialogues and forums, through which their companies can learn about the other market, He said he hopes businesses's better understanding of each other will help create specific linkages on the back of the VCCI’s support. … [Read more...] about Kagoshima prefecture’s firms keen to invest in Vietnam
Kagoshima prefecture’s firms wish to invest in Vietnam
VCCI Chairman Vu Tien Loc (R) and Kagoshima official Yoshitaro Iwasaki (Source: VNA) Hanoi (VNA) – Chairman of the Chamber of Commerce and Industry of Japan’s Kagoshima prefecture Yoshitaro Iwasaki has expressed wish to connect the two countries’ businesses across aquaculture, farm produce and aquatic processing and personnel training. During a recent meeting in Hanoi with Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, Iwasaki said Kagoshima is strong in agriculture, fisheries and food processing. Japanese localities have devised their own strategies to seek business opportunities abroad and call for foreign investment in Japan, he said, adding that he hopes the two nations’ firms will understand more about each other to form specific linkages on the back of the VCCI’s support. He said the Kagoshima Chamber of Commerce and Industry will work closely with VCCI to arrange exchange of business … [Read more...] about Kagoshima prefecture’s firms wish to invest in Vietnam
More UK businesses expected to invest in Vietnam
Deputy Prime Minister Trinh Dinh Dung (R) receives Lord James Mayer Sassoon, Executive Director of Jardine Matheson Holdings Limited (Photo VNA) Hanoi (VNA) – Deputy Prime Minister Trinh Dinh Dung called on businesses from the UK to make investment in Vietnam during a reception for Lord James Mayer Sassoon, Executive Director of Jardine Matheson Holdings Limited, in Hanoi on January 17. He emphasised the positive development of the Vietnam-UK strategic partnership over the past time, especially in the fields of trade, investment and tourism. The UK is the second biggest European investor in Vietnam, after the Netherlands, with 267 foreign direct investment (FDI) projects worth 3.75 billion USD and the third largest trade partner of Vietnam in Europe, after Germany and the Netherlands. Two-way trade grew rapidly to reach 5.7 billion USD in 2017, he noted. The Deputy PM welcomed Jardine Matheson, one of the leading groups in the UK, to make early investment in … [Read more...] about More UK businesses expected to invest in Vietnam
Japanese businesses feel confident to invest in Vietnam: JBAV President
Q: Among the 115 countries and territories with investment projects in Vietnam, Japan is the largest investor with a registered capital of up to US$9.11 billion, accounting for 25.4% of the total foreign investment in Vietnam in 2017. What drove Japanese companies to pour so much capital into Vietnam? A: We are happy to see that the Vietnamese Government pays adequate attention to improving the business climate and creating favourable conditions for Japanese firms to do business in the country. That facilitation has been carried out right from the basic initial steps through to the implementation of specific plans. Especially, during a working session between Vietnam’s Advisory Council for Administrative Procedure Reform and Japanese businesses, many representatives of our firms had the chance to openly and frankly discuss business with the leaders of Vietnam’s functional agencies. In addition, we also feel assured because of the firm commitments, from words to actions, … [Read more...] about Japanese businesses feel confident to invest in Vietnam: JBAV President