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 cement industry is forecast to see a significant increase in domestic sales in 2021, driven by investment in infrastructure, foreign direct investment inflow and the recovery of the real estate market. However, exports are set to slow down.
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).
Experts have been optimistic about Vietnam’s economic growth in 2021 based on the latest situation, as well as the sound decisions and policies adopted by the Party and Government.
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.
Multinationals are looking to set up their bases in Vietnam despite various challenges that the country poses as a manufacturing destination, according to the Financial Times in the UK.
Despite attracting 341 investment projects with 847.3 million USD in 2018-2020, Da Nang City has to cope with poor development of supportive industries and the skilled labour force for high-tech industries in its efforts to build the city into an investment hub in central Vietnam.
The disbursement of State budget capital reached an estimated 91.1 percent of the plan set for the year and rose 34.5 percent year-on-year, the highest rate in the 2011-2020.
A workshop to promote economic and trade cooperation between Vietnam and Russia was held by the Vietnamese Embassy in Russia at the Hanoi – Moscow trade centre on December 22.
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.
A workshop on digital transformation and supply chain in agriculture took place in Cao Lanh city in the Mekong Delta province of Dong Thap on December 21 on the sidelines of the 2020 Mekong Connect Forum.
Cambodia's economy is projected to contract 2 percent in 2020 but recover to a four percent growth next year, the World Bank forecast in its latest economic update for Cambodia entitled Restrained Recovery.
Ho Chi Minh City will step up efforts to attract foreign direct investment by focusing on infrastructure and administrative procedures, with priority given to high-tech projects, a top city official has said.
Disbursement of public funds in the first 10 months met 68 percent of the year’s target, nearly 14 percentage points higher than the same period last year.
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