Ministry of planning and investment

As much as 5.46 billion USD worth of foreign direct investment (FDI) is injected into Vietnam as of February 20. (Photo: VNA) Hanoi (VNA) - As much as 5.46 billion USD worth of foreign direct investment (FDI) was injected into Vietnam as of February 20, equivalent to 84.4 percent of the figure recorded in the same time last year, according to the Ministry of Planning and Investment . As many as 126 foreign projects were granted investment licences with total registered capital of 3.31 billion USD, a year-on-year fall of 33.9 percent. Meanwhile, 115 existing projects adjusted their investment capital with a total additional sum of 1.61 billion USD, or 2.5 times higher than the same time last year. Capital contributions and shares purchases by foreign investors stood at 543.1 million USD, down 34.4 percent. Foreign investors pumped capital in 17 sectors, with processing and manufacturing holding the lead with over 3 billion USD or 55.7 percent, followed by power … [Read more...] about Vietnam lures 5.46 billion USD in foreign investment

The Hanoitimes - On the occasion of the 25th anniversary of the US-Vietnam diplomatic relations, US companies shared with Hanoitimes their expectations about opportunities for their investment expansions in Vietnam. Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics After Vietnam achieved the middle income status and ODA decreased, the Vietnamese government became more accommodating for investment and that continues to this day. Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics However, it is still not a truly level playing field with local companies. The attitude and perception, and spirit of cooperation has become much warmer and more understanding than during that difficult middle period. More importantly, the company’s mission in healthcare as primarily helping Vietnam build a world-class healthcare system. To that end, the company brings Vietnamese to the US and bring educational and other assets to Vietnam to … [Read more...] about US companies continue to see tremendous investment opportunities in Vietnam

The Hanoitimes - Lawmakers largely attributed severe floods in the central region recently to poor planning of small-scale hydropower plants. Vietnam’s lawmakers have urged the government to thoroughly review hydropower planning nationwide for sustainable management following severe flooding and fatal landslides in the central region late last month that are largely believed to stem from poor planning of small-scale hydropower stations. The Ministry of Industry and Trade needs to make all-encompassing assessment of the investment of small- and medium-size hydroelectric plants in the north, the central region, and Central Highlands, lawmakers said at the National Assembly (NA)’s ongoing month-long plenum. They demanded the removal of ineffective projects out of the National Power Plan by 2030. Voices from lawmakers Lawmaker Nguyen Thi Xuan. Photo: Quochoi Lawmaker Nguyen Thi Xuan from Dak Lak province pointed out some consequences resulted from the … [Read more...] about Vietnam lawmakers urge tightened control over small hydropower planning

The head of government also asked localities in key economic regions to strive to become magnets for major foreign corporations and receive re-directed regional and global flows of investment so as to translate the challenges presented by the coronavirus into opportunities. According to the Ministry of Planning and Investment, foreign firms in the fields of IT and high technology, electronics and e-commerce, consumer goods and retail sales and logistics are seeking to relocate their investments. Multinational companies are speeding up the process of diversifying their investment destinations, relocating their manufacturing bases, expanding their business and implementing new projects, and Vietnam has been earmarked as a safe potential destination for such a shift. But the opportunity is not only for Vietnam as other countries in the region are also working aggressively to attract high-quality investment during this relocation. If Vietnam acts slowly, it will miss out on the … [Read more...] about Vietnam seeks to attract relocated investment in wake of coronavirus

The view was shared by diplomats and businesses who attended a Vietnam-India investment forum virtually held in Ho Chi Minh City on January 22. Don Lam, Chief Executive Officer and Co-Founder of VinaCapital, one of the leading fund managers in Vietnam, noted that despite the impact of the COVID-19 pandemic, the domestic private economic sector has developed strongly, with 135,000 businesses registering to set up in 2020 capitalised at US$94 billion, up 29% in value compared to 2019. The businesses are ready for a economic recovery in the post COVID period, and promoting trade exchanges with India is one of the primary goals of Vietnam’s private economic sector this year, said the CEO. Statistics show Vietnam’s imports from India were just over US$2.7 billion in 2016, but the figure rose to more than US$4.5 billion in 2019. Major import items were iron and steel, machinery, equipment, pharmaceuticals, aquatic products, and auto spare parts Meanwhile, Vietnam’s exports to India … [Read more...] about New prospects for Vietnam-India trade, investment cooperation