Hong Kong (China) topped the list of 66 countries and territories investing in Vietnam in January-February with a total investment of 4.3 billion USD, making up 51 percent of the new FDI inflow into the country.
As of February 20, foreign investors have poured 8.47 billion USD into Vietnam, 2.5 times higher than the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The Ministry of Industry and Trade sees supporting the manufacturing and processing industry as the key to boosting socio-economic development this year.
Most firms in the manufacturing and processing industry were optimistic about their production and business activities for the first quarter of 2019, according to a survey by the General Statistics Office (GSO).
Vietnam relies heavily on imported machinery and equipment from China, and experts are worried the country might become a landfill of outdated technologies, urging measures to tighten the import of second-hand machinery and equipment.
Prime Minister Nguyen Xuan Phuc has requested that private industrial firms be developed, with a focus on innovative startups and the support industry.
The central city of Da Nang always appreciates the contributions of Japanese enterprises to its socio-economic achievements in 30 years attracting foreign direct investment (FDI) into Vietnam.
Vietnam registered to invest 303.5 million USD abroad in the first 11 months of this year, plus 55 million USD worth of additional capital for existing overseas projects.
More than 96,600 new enterprises were founded in the first nine months of 2018 with a total registered capital of 963.4 trillion VND (41.3 billion USD), representing year-on-year rises of 2.8 percent and 6.7 percent, respectively.
Vietnam’s index of industrial production (IIP) increased 10.5 percent on-year in the first half of 2018, the General Statistics Office (GSO) reported.
More than 26,700 enterprises were established in Vietnam in the first three months of the year, with total registered capital of nearly 278.5 trillion VND (12.25 billion USD), according to the Agency of Business Registration under the Ministry of Planning and Investment.
Industry is forecast to lead all sectors in terms of growth at 6.87 percent each in the first quarter of 2018, according to the National Centre for Socio-Economic Information and Forecast (NCIF).
Foreign investors poured a total of 77.6 million USD into the real estate market in January, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
SMEs in industrial production were urged to develop green growth strategies to improve business efficiency and protect the environment, experts said at a conference on November 29.
Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of 180.68 billion USD as of late June.
The core of the Fourth Industrial Revolution is “smart manufacturing plants”. However, Vietnamese enterprises are not fully prepared to access the revolution, Deputy Minister of Industry and Trade (MoIT) Cao Quoc Hung has said.
The official US visit of PM Nguyen Xuan Phuc from May 29-31 demonstrates Vietnam’s consistent policy on enhancing trade relations with the US, which has been Vietnam’s top trade partners for the past 10 consecutive years.
Prime Minister Nguyen Xuan Phuc has directed that each ministry and locality must devise a detailed plan to fulfill set targets, in which responsibilities of individuals and units must be specified.
