The top 500 profitable businesses (Profit500) and the 10 most prestigious firms in the food, beverage, retail, and packaging sectors in Vietnam in 2020 were announced at a ceremony in Hanoi on October 22.
The Vietnam Institute for Economic and Policy Research (VEPR) estimated local GDP growth for this year at between 2.6 percent and 2.8 percent at a workshop in Hanoi, lower than the 3.8 percent it forecast in July.
Bold measures Vietnam has implemented to become a hub for foreign direct investment (FDI) in the past decade required real political will and commitment, according to an article published in the South China Morning Post on October 19.
Vietnam will create optimal conditions for Samsung Electronics to invest in high technology projects, Prime Minister Nguyen Xuan Phuc said on October 20
A seminar discussing policies on the phone components industry was recently held by the Department of Trade Promotion (Vietrade) under the Ministry of Industry and Trade and the Korea Trade-Investment Promotion Agency (KOTRA).
Bac Ninh province, a major investment magnet and industrial hub in the north of Vietnam, earned 26.13 billion USD from exports in the first nine months of 2020, up 6.8 percent year-on-year.
The board of the Korea Electric Power Corporation (KEPCO) of the Republic of Korea (RoK) endorsed investment in a project involving Korean and Japanese companies to build a coal-fired power plant in Vietnam, according to AJU, a RoK business newspaper.
The northern province of Bac Ninh has set itself a target of 2,500 new enterprises each year in the period from 2020 to 2025, as part of its scheme to support small and medium-sized enterprises (SMEs).
Korean-funded YPE Vina Co. Ltd. and Korea Circuit Co. Ltd. kicked off the construction of an electronic component plant in Dong Soc industrial cluster in the northern province of Vinh Phuc on September 30.
The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).
Foreign manufacturers who have factories in Vietnam are increasingly looking for local parts suppliers to optimise their production costs, according to the Centre for Supporting Industries Development in HCM City.
Despite COVID-19 affecting global production and supply chains, the northern province of Bac Ninh has maintained significant growth in FDI flows into its industrial parks (IPs).
The Ministry of Industry and Trade (MoIT), the People’s Committee of Bac Ninh province, and Samsung Electronics Vietnam have jointly signed a memorandum of understanding (MoU) on a programme to support Vietnamese businesses operating in the northern province.
The 2020 Sourcing Fair Supporting Industries (SFS 2020) was held on September 17 to help companies in supporting industries expand their markets and join global supply chains.
Vietnam’s robust economic performance over the past three decades has been heavily dependent on exports and foreign direct investment (FDI), with foreign invested companies accounting for 67.8 percent of the country’s total export turnover in 2019, according to the Institute of Southeast Asian Studies (ISEAS) of Singapore.
The northern province of Bac Ninh licensed 119 new foreign direct investment (FDI) projects worth 334.8 million USD in the first eight months of 2020, according to the provincial Statistics Office.
Vietnam has become one of the world’s fastest growing economies since the country first opened up to foreign trade and investment more than three decades ago, with GDP last year being 12.5 times higher than in 2001 and growth averaging 7.26 percent from 2001 to 2010.
Ho Chi Minh City always creates favourable conditions for foreign businesses to operate in the city, contributing to local socio-economic development, Chairman of the municipal People’s Committee Nguyen Thanh Phong said on August 27.
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