The Chan May – Lang Co Economic Zone in the central province of Thua Thien – Hue, which boasts comprehensive infrastructure and an open investment environment, is hoped to attract new investment flows following the COVID-19 pandemic.
Politburo member Vuong Dinh Hue, Secretary of the Hanoi Party Committee, made a working trip to the Hoa Lac Hi-Tech Park on July 10 with the aim of removing bottlenecks for the park to welcome a new wave of investment.
With huge potential for comprehensive cooperation, Vietnam and the US are boosting two-way trade in a more balanced manner to ensure sustainable development, experts have said.
Merger and acquisition (M&A) deals will likely increase post-pandemic, which industry insiders see as a chance for enterprises to restructure their operations to be more viable.
The number of newly-established enterprises in all 17 sectors in the economy grew in June for the first time since the beginning of the year, after tens of thousands of companies were forced to shut their doors because of COVID-19.
Until March 2020, Vietnam has attracted 31.665 FDI projects with registered capital of 370,1 billion USD and implemented capital of 215,6 billion USD. Regarding FDI capital in the localities, Ho Chi Minh city 4,5 billion; Hanoi 34,64 billion USD (accounting for 9,4%) and Binh Duong province 34,61 billion USD.
The central province of Thanh Hoa is scheduled to organise an investment promotion conference on June 12-13, with the participation of around 400 delegates.
The State Audit of Vietnam (SAV), through its regular auditing activities, has discovered many violations of law by foreign-invested enterprises in various fields such as environmental protection, land use, and transfer pricing, said Deputy Auditor General Doan Xuan Tien.
Measures to improve FDI attraction, bolster the competitiveness of Vietnamese enterprises, and make the local investment environment more transparent were discussed at a workshop held by State Audit of Vietnam (SAV) in Hanoi on June 9.
Ho Chi Minh City attracted a combined 1.6 billion USD in foreign direct investment (FDI) in the first five months of 2020, or 57.67 percent compared to the same period last year.
Industrial zones (IZs) and economic zones (EZs) attracted 390 foreign-invested projects with a total registered capital of 4.3 billion USD in the first five months of this year, according to the latest updates of the Ministry of Planning and Investment.
The northern province of Vinh Phuc attracted nine new foreign direct investment (FDI) projects and permitted 17 existing ones to increase capital with a combined sum of over 88 million USD in the first five months of 2020.
Many industrial zone enterprises have taken precaution when giving business plans for 2020 as concerns about foreign direct investment promotion will slow down due to the impacts of the COVID-19 pandemic.
The development of industrial zones (IZs) needs a comprehensive plan to capture the transition of the foreign direct investment (FDI) inflow spurred by trade wars and the COVID-19 pandemic in which Vietnam has significant opportunities to become the next global factory.
A total of 10,728 new firms were established in May with total registered capital of 112.7 trillion VND (4.83 billion USD), up 36.1 percent in number and 20.1 percent in capital from the previous month, according to the General Office of Statistics (GSO).
Vietnam is a potential and emerging market, with low risks, good economy and stable politics, Eto Shinji, General Manager of Japanese building product distributor JUTEC Corporation’s Overseas Business Department, has said.
Singapore rose to become the biggest foreign investor in Vietnam in the first four months of 2020 with 5.07 billion USD, accounting for 41 percent of the total.
The central province of Nghe An is striving to effectively draw investment projects, thus increasing budget collection, creating jobs and improving workers’ income.
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