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The Hanoitimes - IFC will work with Hanoi to formulate a new-generation FDI strategy in response to the government’s master plan on foreign investment promotion toward 2030. IFC, a member of the World Bank Group, today [June 27] signed a memorandum of understanding (MoU) with the People’s Committee of Hanoi to support its efforts to attract new-generation foreign direct investment (FDI) and diversify its funding sources, thereby sustaining the city’s rapid economic development, competitiveness, and inclusive prosperity. IFC will work with Hanoi to formulate a new-generation FDI strategy. Photo: Nguyen Tung. As one of the fastest growing cities in Asia and home to over eight million inhabitants, Hanoi accounts for one-fifth of Vietnam’s gross domestic product (GDP). Hanoi attracted US$8.45 billion in FDI in 2019, highest among the country’s 63 cities and provinces. Three areas namely property development, processing and manufacturing, and telecommunication … [Read more...] about IFC supports Hanoi to attract high value-added investments

The Hanoitimes - Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam, spoke with Hanoitimes about opportunities from a trade deal with the EU and what needs to be done to make use of it. I would express my respects to Hanoi’s encouragements in terms of trade and investment promotion. As the capital of Vietnam, Hanoi with a good infrastructure basis, completed industrial zones and convenient transportation, is one of the centers of economy, industry, trade, and services. Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam. Photo: AHK. The city’s implementation of its “one stop shop” mechanism is also evidence of its dedication to bring in a clearer and more transparent investment environment. By completing other infrastructure projects, especially the metro lines, they city would increase their attractiveness tremendously. From our point of view, for the long run, … [Read more...] about Effective EVFTA, EVIPA to bring about more opportunities for Hanoi: AHK

The Hanoitimes - With the new lockdown stage, each family in Danang are allowed to go to market every three days to ensure safety. Danang has extended its lockdown due to “complexity and uncertainties” in the pandemic evolution, local authorities said Tuesday. A banner supporting Danang. Photo: VnExpress This will last “until the further notice” after the first two-week lockdown period ended on August 11. Under the request by Chairman of the city People’s Committee Huynh Duc Tho, local people need to stay at home and go out only for essential goods and emergency, except those working in essential sectors. To make the lockdown effectively, the city’s leader demanded three main issues be addressed namely ensuring enough goods and medical equipment, conducting more testing and tightening quarantine, and improving treatment for Covid-19 patients. A customer with "Be strong, Danang" slogan. Photo: Zing Regarding food for local during the … [Read more...] about Danang continues Covid-19 lockdown

Hanoi (VNA) - The Philippines’ exports of garments and hard goods could reach 2 billion USD in 2021 as local garment factories expect to receive up to 500 million USD worth of new orders from global fashion brands. President of the Foreign Buyers Association of the Philippines (FOBAP) Robert Young said the group has been getting export orders and inquiries for garments and apparel from foreign buyers, including Zeeman Europe, Walmart and TJ Maxx in the US, as well as Hudson’s in Canada. Young estimates that the additional orders may create about 10,000 to 20,000 jobs in factories located in Metro Manila and Cebu. To support export activities, he called on the government to ease the community quarantine level. He also said that factories should have access to loans to allow them to open and operate./. VNA … [Read more...] about Philippines garment exports projected to hit 2 billion USD this year