Vietnam attracted 3.15 billion USD in foreign direct investment (FDI) and capital for share purchases in July, representing a rise of 79.8 percent against the same period last year and 76.2 percent against June, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
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.
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.
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 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).
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 capital city of Hanoi granted licences to 235 foreign-invested projects with total registered capital of 324 million USD in the first four months of this year.
Nearly 37,600 new firms were formed in Vietnam with a total registered capital of 445.2 trillion VND (19.1 billion USD) in the first four months of this year, down 13.2 percent in number and 18 percent in capital year-on-year due to the COVID-19 pandemic.
Despite the COVID-19 pandemic, the number of newly registered enterprises in the Mekong Delta province of Tra Vinh has risen this year compared to the same period last year.
Vietnam attracted 12.33 billion USD in foreign direct investment (FDI) in the first four months of 2020, a year-on-year decrease of 15.5 percent due to the impact of the COVID-19 pandemic, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
More measures and policies should be introduced to support enterprises, especially small and medium-sized enterprises (SMEs), in the context of a growing number of businesses temporarily ceasing operations due to the COVID-19 pandemic, economists have said.
Hanoi posted an increase of 3.27 percent in Gross Regional Domestic Product (GRDP) in the first quarter of 2020 – the lowest in recent years, according to the municipal Statistics Office.
Up to 18,600 businesses were forced to suspend operations in the first quarter of 2020 due to the COVID-19 pandemic, up 26 percent year on year, reported the General Statistics Office (GSO).
Vietnam granted investment licenses to 758 new projects worth 5.5 billion USD in the first quarter of 2020, up nearly 45 percent from the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The central province of Thua Thien - Hue aims to attract 8-10 domestic and foreign investment projects with total registered capital of 6-8 trillion VND (257.4 -343 million USD) to its economic zones (EZs) and industrial zones (IZs) in 2020.
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