The southern province of Dong Nai secured 11 foreign direct investment (FDI) projects worth more than 226 million USD in the first half of January, the highest recorded in the same time in the past five years, according to the provincial management board of industrial parks.
Secretary of the Hanoi Party Committee Vuong Dinh Hue told Carolyn Turk, World Bank (WB)’s Country Director for Vietnam that Hanoi is in need of great resources for infrastructure development amidst its fast urbanisation during their meeting in Hanoi on January 12.
The number of foreign direct investment (FDI) enterprises continues to increase in Vietnam, but more are reporting losses. The Ministry of Finance (MoF) said FDI firms' contributions were not yet commensurate with the preferential policies given to them.
Vietnam has been successful in controlling COVID-19 in 2020 and is likely to keep the situation contained next year, said Joseph Incalcaterra, chief economist for ASEAN at the HSBC Global Research, on an article recently published on www.dailymirror.uk.
Over 747.6 million USD were poured into export processing zones (EPZs) and industrial parks (IPs) in Ho Chi Minh City in 2020, representing a year-on-year increase of 15.79 percent, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
The Ministry of Natural Resources and Environment, in coordination with the World Bank, held a Final Workshop for the “Vietnam Partnership for Market Readiness” project in Hanoi on December 29. After 5 years of implementation, up to now, the project has made basic preparations, paving the way for the formulation of carbon market policies.
Foreign direct investment (FDI) has contributed significantly to the economic development of Nghe An province but more actions are needed to improve its efficiency and increase FDI enterprises' contribution to the State budget.
About 3.2 billion USD in foreign direct investment (FDI) was poured into Hanoi between January and November, accounting for 12.2 percent of total FDI registered in Vietnam so far this year, according to the municipal Statistics Office.
Vietnam is jubilantly enjoying “the wheel of globalisation,” said Trinh Minh Anh, Chief of Office at the National Steering Committee on International Integration in Economy.
Foreign direct investment pledges for Ho Chi Minh City fell 30.5 percent year-on-year to 3.8 billion USD during January-November, according to the municipal statistics bureau.
More drastic reforms of construction-related administrative procedures must be carried to improve transparency and reduce costs for enterprises, heard a conference organised by the Vietnam Chamber of Commerce and Industry (VCCI), the Ministry of Construction and the Friedrich Naumann Foundation in Hanoi last week.
Vietnam will need 150 billion USD to invest in power generation projects in the next 10 years, equal to half of the country’s current gross domestic product (GDP), which raises demand for international financing.
New foreign direct investment (FDI) in the real estate sector increased four times quarter-on-quarter to 2.35 billion USD in the third quarter, according to statistics of the Ministry of Planning and Investment.
The southern province of Binh Duong attracted about 1.7 billion USD of foreign direct investment (FDI) in the first 10 months of this year, exceeding the goal set for the whole year by 19 percent.
Vietnam needs to have a law on the supporting industry to aid its development, according to the chairman of the Vietnam Chamber of Commerce and Industry (VCCI).
The southern province of Dong Nai expects to secure 1.18 billion USD in foreign direct investment (FDI) during the January-November period, which is already higher than the target of 1.1 billion USD set for 2020 as a whole.
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