Workers at China's AKA Homewares Company in southern Long An province (Photo: VNA) Hanoi (VNS/VNA) - Chinese companies are accelerating investment in Vietnam, but some local businesses are voicing concerns. Foreign investment hit a four-year high of 16.7 billion USD in the first five months of this year, up 69 percent compared to the same period in 2018. Chinese investment made up 42.5 percent of the total according to data released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. If including Taiwan’s investment, Chinese investors poured nearly 7.7 billion USD in Vietnam, surpassing the Republic of Korea, Singapore and Japan to become the biggest foreign investor. In its recent report, the FIA said the trade tensions between China and the US has a significant impact on the shift of Chinese investment. Investments from mainland China and Hong Kong increased from 3.7 billion USD in 2017 to 5.8 billion USD in 2018 and 7.1 billion USD … [Read more...] about Growing Chinese investment in Vietnam: time to worry?
A health worker sprays chemicals to kill mosquitoes in Hanoi's Dong Da district (Photo: hanoimoi.com.vn) Hanoi (VNA) - Over 67,000 cases of dengue fever and three deaths were reported in the first five months of this year across the country, according to the latest report from the Ministry of Health. The capital city of Hanoi has recorded 502 cases, but no deaths. Hoang Duc Hanh, Deputy Director of the Hanoi Health Department, said it was the peak season for the disease in Hanoi and northern provinces due to the hot weather and heavy rain that create favourable conditions for mosquitoes to spread dengue fever. Bac Tu Liem, Dong Da, Thanh Tri and Hoang Mai districts of Hanoi have reported a heightened risk of the disease recently. Bac Tu Liem district has recorded 72 cases of dengue fever. In April, the city recorded about 10 cases of dengue fever per week, but this figure increased in May and the beginning of June, with about 70-80 cases per week. According to Nguyen Khac Hien, … [Read more...] about Hanoi in peak season for dengue fever
Prime Minister Nguyen Xuan Phuc (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc will lead a high-ranking delegation of Vietnam to attend the 34th Summit of the Association of Southeast Asian Nations to be held in Bangkok, Thailand, from June 22-23. The PM’s attendance at the summit will be made at the invitation of his Thai counterpart Prayuth Chan-o-cha. The 34th ASEAN Summit will have the theme of “Advancing Partnership for Sustainability”. The ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.-VNA … [Read more...] about Prime Minister to attend 34th ASEAN Summit in Thailand
At the conference (Photo: VNA) HCM City (VNA) – More than 773,000 out of over 1 million firms in the country, or 73.4 percent, are unable to access credit, it was reported at a conference on promoting access to credit held by the National Credit Information Centre (CIC) in Ho Chi Minh City on June 18. Le Anh Tuan, director of the CIC’s Research Development Division, said in HCM City alone, 44.5 percent of firms do not have access to credit. He said even though the figure included firms which do not need credit, the fact is a majority of firms are unable to access loans provided by credit institutions or have to borrow at high interest rates. The CIC’s figure is similar to statistics of the Vietnam Chamber of Commerce and Industry, which estimated about 70 percent of domestic firms cannot access banks’ loan. Deputy Director of VCCI’s Ho Chi Minh branch Tran Ngoc Liem said banks still give preferential treatment to State-owned enterprises compared to … [Read more...] about Over 73 percent of Vietnamese firms unable to access credit
Thailand will host the 34th ASEAN Summit from June 20-23. (Photo: thainews.prd.go.th) Bangkok (NNT/VNA) - As Thailand will host the 34th ASEAN Summit from June 20-23, Deputy Prime Minister and Defense Minister Gen. Prawit Wongsuwan, called a meeting with relevant agencies to discuss preparations for traffic convenience and safety measures for ASEAN delegates. On June 17, Gen. Prawit presided over the meeting of the traffic facilitation and safety subcommittee for the ASEAN Summit. The meeting was attended by officials from the Royal Thai Police, the National Security Council, and the Ministry of Foreign Affairs. The officials discussed their rehearsals, preparations, and operational plans, such as air transport and water drainage. At this point, all preparations are in place. In addition, a traffic facilitation and safety joint command centre for the ASEAN Summit has been set up to provide around-the-clock security until June 24 this year. Officers will be deployed in and … [Read more...] about Traffic and security measures in place for ASEAN Summit