The COVID-19 pandemic has had a serious impact on Vietnam’s economy but it’s also believed to create the conditions to attract more foreign direct investment (FDI) as there have been signs of a switch in capital flows away from China and to ASEAN member countries.
A recently issued resolution of the Politburo stated that the foreign direct investment (FDI) sector is equal to and has to comply with Vietnamese law like other economic sectors.
The south-central province of Binh Dinh will focus on attracting domestic and foreign investment in the rest of the year, with priority on big and labour intensive projects, according to insiders.
From an agriculture-based province, Dong Nai province has turned itself into an industrial hub in the south thanks to its determination to persist the growth model shift to industry, according to local authorities.
To be a top destination for foreign investors, the southern province of Dong Nai has accelerated public administrative reforms and facilitated foreigners doing business in the province.
The third investment wave from the Republic of Korea (RoK) is now at its peak, according to Moon Byungcheol, Commercial Counsellor at the RoK General Consulate in HCM City.
Between 60 and 70 percent of equipment and technologies used at export
processing and industrial zones is outdated, resulting in products with
low added value, the Ho Chi Minh City People's Committee has said.
HCM City’s Stimulus via Investments programme is successfully resolving
financial difficulties for enterprises and contributing to restructuring
the industrial sector, according to industrial officials.
The southern province of Dong Nai attracted around 1 billion USD
in foreign direct investment (FDI) as of October 15, exceeding its
annual target, according to the provincial Planning and Investment
Department.
The southern province of Dong Nai attracted 786.76 million USD in
foreign direct investment (FDI) as of August 15, fulfilling 78 percent
of the yearly target, according to the provincial Planning and
Investment Department.
The Dong Nai province People's Committee has approved in principle the
establishment of a hi-tech park, expected to cost 75 million USD, in
Long Thanh district.
Domestic investment in the HCM City Export Processing and Industrial
Zone (HEPZA) was twice that of Foreign Direct Investment (FDI) in the
first seven months of the year, reports the zone's management authority.
Business
