Vietnamplus

The People’s Council of Hanoi has approved a resolution on middle-term public investment plan for the 2021-2025 period.

The central province of Nghe An holds huge opportunities, advantages and resources to make breakthroughs in the coming years, Prime Minister Pham Minh Chinh said at a working session with the Standing Board of the provincial Party Committee as part of his trip to the locality on July 24.

Capital reallocation plans announced by multinational corporations will offer opportunities for Vietnam to attract foreign direct investment, experts said.

Public investment disbursement in the northern province of Quang Ninh reached 27 percent as of mid-June, much lower than the target, according to the provincial Department of Planning and Investment.

In view of the important contributions of investment capital to the local economy, Vietnam needs immediate solutions to attract more FDI and strengthen its sources, according to experts.

The investment capital flow is eyeing blockchain projects, offering significant opportunities for Vietnam where this technology was booming to have unicorns in the global blockchain market.

Investment capital sourced from the State budget reached 4.7 million USD in the first four months of 2022.

The total amount of social investment capital disbursed in the first quarter of 2021 was estimated at 562.2 trillion VND (24.6 billion USD), up 8.9 percent year-on-year, reported the General Statistics Office (GSO).

The total social investment capital disbursed in 2021 was estimated at nearly 2,892 trillion VND (126.5 billion USD), up 3.2 percent annually, reported the General Statistics Office (GSO).

The inflow of foreign direct investment (FDI) into Ho Chi Minh City hit 3.74 billion USD in 2021, down 14.2 percent year-on-year, according to the municipal Department of Planning and Investment.

Disbursement of investment capital sourced from State budget was estimated at 48.5 trillion VND (2.13 billion USD) in November, up 14.7 percent over the previous month, according to the General Statistics Office (GSO).

As of mid-November, the central province of Quang Tri had granted investment licences to 56 projects with total registered capital of nearly 69.6 trillion VND (3.05 billion USD), up 10-fold against the same period last year.

Over 257.3 trillion VND (11.1 billion USD) in public investment capital were disbursed as of late October, or 55.8 percent of the target assigned by the Prime Minister, reported the Finance Ministry.

The Vietnamese economy is likely to gradually recover from the fourth quarter of 2021 and escape the minus growth seen in the third quarter thanks to the activeness of the business community and the Government’s efforts to remove obstacles facing enterprises, held economist Nguyen Bich Lam who is former Director General of the General Statistics Office.

The Government Office has issued the Notice No.262/TB-VPCP dated October 5, 2021 on the Prime Minister’s conclusions at the nationwide teleconference with ministries, centrally-run agencies and localities on stepping up the disbursement of public investment capital this year.

Only over 220.7 trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.

Ho Chi Minh City disbursed 13.26 trillion VND (583.55 million USD) of public investment capital in the first eight months of this year, fulfilling only 37.1 percent of its target for the year and representing a drop of 27.4 percent over the same period last year, reported the city's Statistics Office.

Hanoi lured more than 18.7 million USD of foreign direct investment (FDI) in August, raising the total FDI poured into the city in the first eight months of 2021 to 841.8 million USD, according to the city's Statistics Office.

The Minister of Transport recently requested the establishment of a special working group to boost the disbursement of public investment capital for projects in the transport sector.

Vietnam's overseas investment rose by 2-3 times in the first seven months of this year, according to the Ministry of Planning and Investment.