Vietnam gained positive economic achievements in the first quarter of this year despite a range of difficulties both in and outside the country, Prime Minister Nguyen Xuan Phuc has said.
Foreign direct investment (FDI) has helped boost socio-economic development in the northern mountainous province of Yen Bai, contributing to shifting the economic structure, creating more jobs and improving locals’ living conditions.
The Industrial Zones Authority of the southern province of Dong Nai has revoked licenses of more than 170 foreign direct investment (FDI) projects due to slow progress of implementation since the Foreign Investment Law came into effect in 1988.
The Myanmar Investment Committee (MIC) has recently announced 10 areas which will be prioritised for local and foreign investment, reported Myanmar News Agency.
Myanmar’s new investment law, endorsed by the country’s parliament in October 2016, took effect on April 1 with a view to creating favourable conditions for foreign investors.
Myanmar’s House of Nationalities (Upper House) on October 5 approved the new investment bill after it was passed by the House of Representatives (Lower House) last month.
Republic of Korea-based Samsung Electronics is considering building a home appliances factory in Myanmar, efforts to seek new manufacturing facilities to cut labour costs and improve efficiency.
Since the Foreign Investment Law was passed in 1987, Vietnam's
construction sector has received 11.5 billion USD for 1,196 foreign
direct investment (FDI) projects. The law was passed a year after Doi
Moi (Renewal) policy was announced in 1986.
Former Senator Eddie “Kuya Eddie” Ilarde, the first president of the
Philippines-Vietnam Friendship Association, returned to Manila from a
visit to Hanoi, greatly impressed by what he saw.
The Vietnam-Cuba
Inter-Governmental Committee for Economic, Commercial, Scientific and
Technological Cooperation convened its 32nd meeting in Havana, Cuba on
October 13, seeking ways to raise bilateral economic ties on a par with
political relations.
A get-together was held in Hanoi on April 7 to welcome a delegation from
the Cuban Institute for Friendship with the Peoples (ICAP) led by
President Kenia Serranno Puig.
Foreign investment flow into Myanmar reached 53.45 million USD in
September, raising the total figure since the country issued its first
law on foreign investment in 1988 to over 44.21 billion USD, according
to Xinhua news agency.
Foreign Direct Investment (FDI) projects that have expired but not yet
re-registered will be revoked after February 1 next year, according to a
newly issued directive from the Ministry of Planning and Investment
(MPI).
Continuing the fifth sitting of the 13th National Assembly (NA),
legislators on May 28 discussed in groups the draft Law on amendments
and supplements to a number of articles of the Law on Fire Prevention
and Fighting and Article 170 of the Enterprise Law.
National Assembly deputies on
May 25 examined the draft amendments to the Enterprise Law, a proposal
asking for NA approval of the State budget balance for 2011 and some
other issues.
A double taxation pact to do away with
taxes between Vietnam and Hong Kong will further boost economic
cooperation as well as increase trade between the two sides in the
future, said a Hong Kong trade official.
Politics
