Investment flows into Vinh Phuc rise in nine months despite COVID-19
The northern province of Vinh Phuc raked in close to 1.15 billion USD in investment during the first three quarters of 2021, a slight increase from the same period last year, despite economic uncertainties caused by the COVID-19 pandemic.
A corner of Vinh Phuc (Photo: VNA) Hanoi (VNA) – The northern province of Vinh
Phuc raked in close to 1.15 billion USD in investment during the first three
quarters of 2021, a slight increase from the same period last year, despite economic uncertainties caused by the COVID-19 pandemic.
By the end of September, the province has attracted a total of over 5.01 trillion VND (220.46 million USD) in domestic direct investment (DDI) from 10 new projects and two operational ones, 8 percent higher than the plan.
It has licensed 24 new foreign direct investment (FDI) projects and allowed 19 others to add capital, with the extra investment worth nearly 929 million USD in total, fulfilling 99 percent of the goal.
Vinh Phuc is currently home to 404 valid projects, including 75 DDI projects which have combined registered capital of nearly 19.43 trillion VND. The remainders are FDI projects with total capital of approximately 5.38 billion USD.
As of September 15, 41 percent of the registered DDI and 55 percent of the registered FDI have been disbursed.
The pandemic has caused troubles for many local enterprises in accessing workforce, funding and supply of materials and markets since the beginning of this year. Despite these challenges, the local administration and companies have adopted multiple measures to keep production going and prevent the spread of the virus./.
You should also see
VNA marks 70th anniversary of Dien Bien Phu Victory with various activities
The Vietnam News Agency (VNA) hosted an array of activities to celebrate the 70th anniversary of the Dien Bien Phu Victory (May 7, 1954 - 2024).
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
