US, EU investment capital poured into southern localities
Foreign direct investment (FDI) from the EU and US has been pouring into southern localities like Ho Chi Minh City, Dong Nai, and Binh Duong provinces.
Illustrative image (Source: VNA)Hanoi (VNA) – Foreign direct investment (FDI) from the EU and US has been pouring
into southern localities like Ho Chi Minh City, Dong Nai, and Binh Duong
provinces.
According to statistics from the southern province of Dong Nai, 27 US businesses are investing in the locality, mainly operating in the field of industrial production with total registered capital of over 207 million USD, ranking 10th among countries and territories investing in the province.
After recent exchanges with Dong Nai authorities, US Consul General in HCM City Mary Tarnowka said that US businesses want to invest in the province’s industry, infrastructure, aviation, and high technology sectors.
A large number of US firms will come to Dong Nai in the near future to study the local investment environment, she revealed.
According to the provincial Department of Planning and Investment, more than 70 projects worth over 2.8 billion USD from 13 EU countries have been registered so far, focusing on industry and machine equipment production, spare parts, electronics, and garment and textiles.
In Dong Nai, 80 percent of goods produced by businesses are exported, with the remaining used for domestic consumption.
Nations with the largest investment capitals in Dong Nai include Germany, Switzerland, and the Netherlands.
One of the top reasons for the EU and US’ investment interest in Vietnam is due to the Southeast Asian country’s engagement in a number of free trade agreements (FTAs), according to representatives from EU and US businesses.
At a conference on FDI attraction in the southern economic hub of Ho Chi Minh City, Vice Chairman of the European Chamber of Commerce (EuroCham) in Vietnam Tomaso Andreaatta said the planned signing of the EU-Vietnam Free Trade Agreement (EVFTA) will strongly increase investment attraction from European businesses.
Alongside investing in infrastructure and high technology, EU firms are looking to join projects on smart city building and green growth, he said.
Carlos Dominguez Agulleiro, deputy head of Spain’s Economic and Commercial Office in HCM City, said the number of Spanish businesses deciding to invest in Vietnam is increasing.
Michele D’Ercole, Chairman of the Italian Chamber of Commerce in Vietnam, told reporters from the Dau tu (Investment) newspaper that the investment flow from Italian businesses in Vietnam will surge this year. He noted several fields of their strengths such as food processing, garment and textiles, pharmaceutical products, infrastructure, and tourism.–VNA
According to statistics from the southern province of Dong Nai, 27 US businesses are investing in the locality, mainly operating in the field of industrial production with total registered capital of over 207 million USD, ranking 10th among countries and territories investing in the province.
After recent exchanges with Dong Nai authorities, US Consul General in HCM City Mary Tarnowka said that US businesses want to invest in the province’s industry, infrastructure, aviation, and high technology sectors.
A large number of US firms will come to Dong Nai in the near future to study the local investment environment, she revealed.
According to the provincial Department of Planning and Investment, more than 70 projects worth over 2.8 billion USD from 13 EU countries have been registered so far, focusing on industry and machine equipment production, spare parts, electronics, and garment and textiles.
In Dong Nai, 80 percent of goods produced by businesses are exported, with the remaining used for domestic consumption.
Nations with the largest investment capitals in Dong Nai include Germany, Switzerland, and the Netherlands.
One of the top reasons for the EU and US’ investment interest in Vietnam is due to the Southeast Asian country’s engagement in a number of free trade agreements (FTAs), according to representatives from EU and US businesses.
At a conference on FDI attraction in the southern economic hub of Ho Chi Minh City, Vice Chairman of the European Chamber of Commerce (EuroCham) in Vietnam Tomaso Andreaatta said the planned signing of the EU-Vietnam Free Trade Agreement (EVFTA) will strongly increase investment attraction from European businesses.
Alongside investing in infrastructure and high technology, EU firms are looking to join projects on smart city building and green growth, he said.
Carlos Dominguez Agulleiro, deputy head of Spain’s Economic and Commercial Office in HCM City, said the number of Spanish businesses deciding to invest in Vietnam is increasing.
Michele D’Ercole, Chairman of the Italian Chamber of Commerce in Vietnam, told reporters from the Dau tu (Investment) newspaper that the investment flow from Italian businesses in Vietnam will surge this year. He noted several fields of their strengths such as food processing, garment and textiles, pharmaceutical products, infrastructure, and tourism.–VNA
You should also see
Strategic breakthroughs and turning points for victory day
The strategically significant victory of the Central Highlands Campaign followed by the rapid and resounding success of the Hue-Da Nang offensive in March 1975 fundamentally altered the situation of the liberation war, creating a pivotal turning point and ensuring conditions for a definitive victory in the historic Ho Chi Minh Campaign, which fully liberated the South and unified the country.
See more
Business
InfographicExport value of six key industrial crops to reach 14-16 bln USD by 2030
Vietnam aims to post export turnover of 14-16 billion USD from six key industrial crops by 2030.
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
