Vietnam seeks to promote investment in IPs
A workshop was organised in Hanoi on November 29 to discuss
measures to attract more investment to Vietnam’s industrial parks
(IPs) and economic zones (EZs) in the coming time.
A workshop was organised in Hanoi on November 29 to discuss
measures to attract more investment to Vietnam’s industrial parks
(IPs) and economic zones (EZs) in the coming time.
The event was jointly held by the Vietnam Investment Connection JSC and the Vietnam Chamber of Commerce and Industry.
Over the past two decades, IPs and EZs in Vietnam have demonstrated their important role in promoting the country’s economic growth.
The country has a total of 289 IPs and 15 coastal EZs in 59 provinces and cities across the country, contributing more than 80 billion USD of the country’s annual import-export turnover and accounting for 35 percent of the economy’s total import-export turnover.
The IPs and EZs drew about 70 percent of the total foreign investment flow into the country and created jobs for over 2 million labourers.
According to Deputy Head of the EZ Management Department under the Ministry of Planning and Investment (MoPI) Tran Duy Dong, as of the end of October, 2013, IPs nationwide attracted over 4,700 foreign direct investment (FDI) projects with a total registered capital of 69.2 billion USD, equivalent to 80 percent of the total FDI capital poured into industrial fields.
Meanwhile, the number of domestically-invested projects operating in IPs in the period was 5,100, totalling 461 trillion VND (around 21.95 billion USD).
In the first 10 months of this year, 9.9 billion USD was invested in IPs and EZs, accounting for 70 percent of total FDI investment in Vietnam.
However, the development of IPs and EZs is yet to meet expectations as the attraction of investment was affected by the global economic downturn.
MoPI Deputy Minister Nguyen Van Trung said the country should increase investment promotion in the time to come, towards luring investment projects that have advanced technology and high economic value, especially environmentally friendly projects and those in the supporting industry field.
In addition, the country needs to create a favourable investment environment to improve the confidence of investors and remove difficulties for them, he added.
It should also pay attention to upgrading the industrial infrastructure system, build accommodation and other public facilities for labourers, while planning to train human resources to satisfy investors’ demands, Trung stressed.-VNA
The event was jointly held by the Vietnam Investment Connection JSC and the Vietnam Chamber of Commerce and Industry.
Over the past two decades, IPs and EZs in Vietnam have demonstrated their important role in promoting the country’s economic growth.
The country has a total of 289 IPs and 15 coastal EZs in 59 provinces and cities across the country, contributing more than 80 billion USD of the country’s annual import-export turnover and accounting for 35 percent of the economy’s total import-export turnover.
The IPs and EZs drew about 70 percent of the total foreign investment flow into the country and created jobs for over 2 million labourers.
According to Deputy Head of the EZ Management Department under the Ministry of Planning and Investment (MoPI) Tran Duy Dong, as of the end of October, 2013, IPs nationwide attracted over 4,700 foreign direct investment (FDI) projects with a total registered capital of 69.2 billion USD, equivalent to 80 percent of the total FDI capital poured into industrial fields.
Meanwhile, the number of domestically-invested projects operating in IPs in the period was 5,100, totalling 461 trillion VND (around 21.95 billion USD).
In the first 10 months of this year, 9.9 billion USD was invested in IPs and EZs, accounting for 70 percent of total FDI investment in Vietnam.
However, the development of IPs and EZs is yet to meet expectations as the attraction of investment was affected by the global economic downturn.
MoPI Deputy Minister Nguyen Van Trung said the country should increase investment promotion in the time to come, towards luring investment projects that have advanced technology and high economic value, especially environmentally friendly projects and those in the supporting industry field.
In addition, the country needs to create a favourable investment environment to improve the confidence of investors and remove difficulties for them, he added.
It should also pay attention to upgrading the industrial infrastructure system, build accommodation and other public facilities for labourers, while planning to train human resources to satisfy investors’ demands, Trung stressed.-VNA
You should also see
Leaders pay tribute to President Ho Chi Minh on National Reunification Day
Leaders and former leaders of the Party, State, Government, National Assembly (NA), and Vietnam Fatherland Front (VFF) paid tribute to President Ho Chi Minh at his mausoleum in Hanoi on April 26 on the occasion of the 49th anniversary of the Liberation of the South and National Reunification Day (April 30, 1975-2024).
See more
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
Business
Vietnam ranks fifth among aquatic product suppliers for Singapore
Vietnam jumped one place to become the fifth largest exporter of aquatic products to Singapore for the first time in the first quarter of this year, according to its Trade Office in the city state.
Business
Forum seeks ways to boost exports amid external challenges
Experts gathered at a forum in Ho Chi Minh City on April 25 to seek ways to untangle knots in terms of capital and market for exporters in the context that the ongoing conflicts in many regions are disrupting international trade.
Business
Enterprises want clearer regulations on seafood production
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Business
InfographicRice exports up 40% in Q1
According to the Ministry of Agriculture and Rural Development, Vietnam exported 2.07 million tonnes of rice in the first quarter of 2024, earning 1.37 billion USD in revenue. This represents a 12% increase in volume and 40% in value compared to the same period of 2022.
