Japan expands investment in Vietnam amid economic slowdown

While many local firms have scaled down or even closed amid the tough economic times, several Japanese firms have expanded investment in Vietnam, demonstrating their faith in the market. Japan's Tokyu Corporation has recently cooperated with Vietnamese industrial investment and development firm Becamex IDC to develop a US$1.2- billion project called Tokyu Binh Duong Garden City in the southern province of Binh Duong. In June, Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, received a license to establish a manufacturing company with an investment of $40 million in Ho Chi Minh City. The new subsidiary company plans to construct its first factory by the end of 2012 to produce and trade micro-motors used in cell phones. … [Read more...]

Nidec licenced to open new factory at hi-tech park

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Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, on Monday received an investment certificate to develop a micro-motor factory at the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City. This is the fifth investment project of Nidec Corporation at SHTP, carried out under the commitment between the corporation and SHTP authority made in 2005. The Nidec Seimitsu Vietnam Corporation project worth a total of $40 million will develop, produce and trade micro motors used in cell phones. Moreover, in the coming time, the company plans to produce motors for medical equipment. Nidec Seimitsu Vietnam Corp. expects to start work on the new factory this month and put it into operation in late this year. According to the company's plan, the factory will achieve stable production within the first three years after it starts service, with an output capacity of 45 million units a month and monthly revenue of $8 million. Vietnam is the third destination of Nidec … [Read more...]

Nidec licensed to open new factory at hi-tech park

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HCMC - Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, on Monday received an investment certificate to develop a micro-motor factory at the Saigon Hi-Tech Park (SHTP) in HCMC. This is the fifth investment project of Nidec Corporation at SHTP, carried out under the commitment between the corporation and SHTP Authority made in 2005. Le Bich Loan (L), deputy head of SHTP Authority, hands over the investment certifi cate to Kazuto Hirasawa, vice chairman of Nidec Seimitsu Corporation - Photo: Quoc Hung The Nidec Seimitsu Vietnam Corporation project worth a total of US$40 million will develop, produce and trade micro motors used in cell phones. Moreover, in the coming time, the company plans to produce motors for medical equipment. Nidec Seimitsu Vietnam Corp. expects to start work on the new factory this month and put it into operation in late this year. According to the company's plan, the factory will achieve stable production within the … [Read more...]

Australian investment in Vietnam exceeds US$1.65 billion

Australia had 320 valid foreign direct investment (FDI) projects worth over US$1.65 billion in Vietnam at the end of 2014, ranking 19th among 101 countries and territories investing in the country, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). In 2014 alone, Australia funnelled US$142.84 million into Vietnam through 24 new projects and 6 existing projects. FIA’s Director Do Nhat Hoang said Australia has become an important investment partner of Vietnam, adding that the two governments should work to create more favourable policies so as to enable the respective business communities to forge strong links, further promoting trade and investment cooperation between the two nations. Economic experts are forecasting increasing amounts of foreign capital flow into Vietnam in the coming years, including additional projects from Australia. As of December 15, 2014, Australian investors have invested in 18 of 21 national economic … [Read more...]

Australian investment in Vietnam exceeds USD1.65 bln

Australia had 320 valid foreign direct investment (FDI) projects worth over USD1.65 billion in Vietnam by the end of 2014, ranking 19th among 101 countries and territories investing in the country, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). In 2014 alone, Australia funnelled USD142.84 million into Vietnam through 24 new projects and 6 existing projects. FIA’s Director Do Nhat Hoang said Australia has become an important investment partner of Vietnam, adding that the two governments should work to create more favourable policies so as to enable the respective business communities to forge strong links, further promoting trade and investment cooperation between the two nations. Economic experts are forecasting increasing amounts of foreign capital flow into Vietnam in the coming years, including additional projects from Australia. As of December 15th, 2014, Australian investors have invested in 18 of 21 national economic … [Read more...]

Foreign investment IT system ready

The new national foreign investment information system will make it easier for state management authorities to monitor the performance of foreign firms

VietNamNet Bridge - As the national foreign investment information system will be enacted in 2015, Foreign Investment Agency director Do Nhat Hoang further explains to VIR's Ngoc Linh the system's importance to the authorities and investors alike. Can you explain the national foreign investment information system? In 2009, the prime minister issued a decision requesting governmental bodies to apply information technology to state management. Following this request, the Ministry of Planning and Investment began to set up a national foreign investment information system. After five years of preparations, I can say that the system is completed and ready for use. The purpose of this system is to standardise and digitise state foreign investment management and simplify administrative procedures for foreign investors. This is the first time a national information system in terms of foreign direct investment (FDI) has been applied in Vietnam. So what are the benefits of the system? Yes, … [Read more...]

Australian investment in Vietnam exceeds 1.65 bln USD

Australia had 320 valid foreign direct investment (FDI) projects worth over 1.65 billion USD in Vietnam by the end of 2014, ranking 19th among 101 countries and territories investing in the country, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). In 2014 alone, Australia funnelled 142.84 million USD into Vietnam through 24 new projects and 6 existing projects. FIA’s Director Do Nhat Hoang said Australia has become an important investment partner of Vietnam, adding that the two governments should work to create more favourable policies so as to enable the respective business communities to forge strong links, further promoting trade and investment cooperation between the two nations. Economic experts are forecasting increasing amounts of foreign capital flow into Vietnam in the coming years, including additional projects from Australia. As of December 15, 2014, Australian investors have invested in 18 of 21 national economic … [Read more...]

US firms ratchet up investment

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(VOV) - The number of foreign trade representative visits to Vietnam during the first half of the year are an auspicious sign US investment in the country is not about to wane anytime soon, economic experts say. Finance Minister meets with US firms US firms fined for exporting electronic waste to Vietnam Vietnamese, US firms meet over future cooperation Paving way for small US businesses Early this year, the US-ASEAN Business Council organised a fact-finding tour of Vietnam for nearly 80 managers from 33 of the US leading international companies. … [Read more...]

Attracting FDI remains a major challenge

A worker assembles engines for Piaggio Scooter in Vinh Phuc Province. - VNA/VNS Photo

HA NOI (VNS) - State agencies are doing their best to bolster foreign investors' confidence, yet difficulties remain in attracting foreign direct investment (FDI), especially in key sectors, said Foreign Investment Agency director Do Nhat Hoang. … [Read more...]

Challenges for Vietnam to boost FDI attraction

The Government is committed to augmenting the country's attractiveness as a safe and hospitable investment destination with developed infrastructure facilities and a young, talented workforce, radio The Voice of Vietnam (VOV) reported on June 16. As of May 2014, there were 16,323 foreign-invested projects operating in Vietnam with a combined registered capital of 237 billion USD invested by 101 countries and territories from around the globe. Foreign invested projects have significantly contributed to the development of the country's infrastructure by improving production capacity and technological renovation. These factors directly translate into improved business efficiencies and in turn raise the competitive edge of Vietnamese goods and services. … [Read more...]

Challenges to Vietnam’s FDI attraction

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(VOV) - The government is committed to augmenting the country's attractiveness as a safe and hospitable investment destination with developed infrastructure facilities and a young talented workforce. Binh Duong dishes out licenses for FDI projects FDI businesses confident in Vietnam's investment environment FDI disbursement hits US$4.6 blnIroning out snags to raise competitive edge As of May 2014, there were 16,323 foreign-invested projects operating in Vietnam with a combined registered capitalisation of US$237 billion invested by 101 countries and territories from around the globe. … [Read more...]

Attracting investment capital from Japan

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(VEN) - Together with close cooperation in various fields and Japan's active support in building Vietnam's industrial development strategy, experts said that investment capital from Japan into Vietnam would continue to increase in the near future. According to the Ministry of Planning and Investment's Foreign Investment Agency's data, as of October 2013, Japan had 2,072 valid investment projects in Vietnam with total registered capital of US$33.665 billion, accounting for 13.4 percent of total investment projects and 14.8 percent of total investment capital respectively. Together with these outstanding results, Japan ranked first among 100 countries and territories investing in Vietnam. In the first ten months of this year, despite economic difficulties, Japanese businesses invested US$4.842 billion in Vietnam, accounting for 25.2 percent of total investment capital. Japanese investment projects have a large amount of capital and are mainly focused on the manufacturing and … [Read more...]

One hand to build efficient road to FDI

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The existing FDI management model is greatly problematic and needs changing. But how to change it now and apply a new FDI management model remains in question.- Dao Quang Thu MPI Deputy Minister Vietnam may set up a national-level body to manage foreign direct investment until 2020. At last week's workshop discussing the Ministry of Planning and Investment's (MPI) new draft foreign direct investment (FDI) attraction strategy until 2020, the MPI's Foreign Investment Agency director Do Nhat Hoang said Vietnam would manage FDI by a concentrated national-level coordination body, instead of the existing decentralisation model. The draft strategy would be officially discussed by the government in early October 2012 and then a resolution on the nation's FDI attraction until 2020 would be issued. The draft strategy comprises some different solutions, also known as models, about state management of FDI. Among the models was one that received wide praise from workshop participants. This … [Read more...]

Southern provinces continue to attract FDI

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(VEN) - Statistics from the Ministry of Planning and Investment revealed that in the first seven months of 2012, Vietnam granted investment certificates to 584 new Foreign Direct Investment (FDI) projects with total registered capital of US$5.2 billion, equal to 55.9 percent of that in the same period last year; 231 ongoing projects registered an increase in their registered capital by US$2.83 billion, up 5.2 percent. So in the first seven months of this year, US$8.03 billion of FDI capital was registered in Vietnam, equal to 66.9 percent of that in the same period last year. … [Read more...]

Vietnam aims for more Japanese investments

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Vietnam aims to attract more small-and medium-sized enterprises from Japan to invest in the country, a seminar has heard. This was highlighted by Director Do Nhat Hoang of the Foreign Investment Agency at the seminar on attracting Japanese firms into local industrial parks held by the Ministry of Planning and Investment in Hanoi on Monday. There are currently 283 industrial parks in 58 provinces and cities nationwide, Hoang said, but up to 35 per cent of the space remains unoccupied. "We want to get connected to the overseas investment strategy of Japan to fill up these industrial parks," he said. Minister Hideo Suzuki at the Japanese embassy in Vietnam said his government had developed a new development strategy, including promoting outbound investment, especially to Asian countries. To deploy such a strategy, Japan has developed a supporting program for enterprises investing abroad to overcome the current economic stagnation in Japan. Hideo Ohkubo, chairman of the … [Read more...]

Vietnam seeks to lure more Japanese businesses

This was highlighted by Director Do Nhat Hoang of the Foreign Investment Agency at a seminar on attracting Japanese firms into local industrial parks held by the Ministry of Planning and Investment in Hanoi on Monday. There are currently 283 industrial parks in 58 provinces and cities nationwide, Hoang informed, but up to 35% of the space remains unoccupied. "We want to get connected to the overseas investment strategy of Japan to fill up these industrial parks," he said. Minister Hideo Suzuki at the Japanese embassy in Vietnam said his government had made new development strategy, including promoting outbound investment, especially to Asian countries. To deploy such a strategy, Japan has developed a supporting program for enterprises investing abroad to overcome the current economic stagnation in Japan. … [Read more...]

Sign of FDI Attraction Recovery

Opening ceremony of O-I BJC glass container plant ( Feb 6, 2012) invested by Owens-IIlnois (USA), Berli Jucker Public Company (BJC, Thailand) and Saigon Beer Alcohol Beverage Company (SABECO, Vietnam)

After the first month of the year with 9 days off for the Lunar New Year holiday, foreign investment attraction activities in Feb 2012 appear to have recovered their lively status, with many big projects signed and implemented. As reported by the Foreign Investment Agency, as of 20 January 2012, total registered capital in January 2012 reached only 3 percent against the same period in 2011. However, Foreign Investment Agency Director Do Nhat Hoang said that these modest results do not reflect the final situation of FDI in January, nor the prospects of 2012. Specifically, in January 2012, Lunar New Year holiday period lasted 9 days. A number of projects have completed investment certificate procedures but investors requested delaying the granting until the New Year to gain good luck. Director Do Nhat Hoang said FDI attraction in February and the following months will have very positive changes. Some big projects got licensed in early February, 2012. In Hai Phong, on 1 February, the … [Read more...]

RoK Confirms Role as Major Investor

Real estate is one of the most popular sectors for Korean investors

(VEN) - According to the Korean Ministry of Knowledge Economy, as of 2010 businesses from the Republic of Korea (RoK) had 3,000 investment projects worth US$23 billion in Vietnam. Korean investors are interested in consumer goods production, electronics, technology, energy, support industries, real estate, agriculture, forestry and fisheries. Real estate is one of the most popular sectors for Korean investors. As of 2010, there were 158 Korean construction businesses investing in Vietnam. The real estate sector alone attracted 61 Korean projects with a combined registered capital of US$6.1 billion that accounts for more than 25 percent of all Korean investment in Vietnam and 17.6 percent of all capital poured in the Vietnamese real estate industry. Talking with the Vietnam Economic News, Hang Ha Ryu, the general director of the Doosan Vina Company in the Dung Quat Industrial Park in Quang Ngai Province, said that his company chose Vietnam for its investment because Vietnam and the … [Read more...]

Untapped region to show best side

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Six northern central provinces will join hands to hold an investment promotion conference on October 17 to woo foreign investors to this untapped region. The provinces include Nghe An, Thanh Hoa, Ha Tinh, Quang Binh, Quang Tri and Thua Thien-Hue. The conference, supported by the Ministry of Planning and Investment (MPI), will offer investors an insight into potential as well as opportunities in the north-central region. "We expect investors will have a comprehensive view about the region and make investment here," said Ho Duc Phoc, chairman of Nghe An Provincial People's Committee. Six provinces are now home to five coastal economic zones including Nghi Son in Thanh Hoa, East-South in Nghe An, Vung Ang in Ha Tinh, Hon La in Quang Binh and Chan May-Lang Co in Thua Thien-Hue. The zones, where investors can enjoy the highest tax incentives regulated by the governments, have big advantages for attracting investors. Furthermore, transport infrastructure in the region has been … [Read more...]