INVESTMENT

(VEN) - Connectivity between FDI businesses and domestic companies is still hampered by various factors. Significant contributions The Law on Foreign Investment was adopted in Vietnam in 1987, creating an important legal basis for attracting foreign direct investment (FDI). Over the past 30 years, Vietnam has attracted about US$320 billion in FDI. Minister of Planning and Investment Nguyen Chi Dung said Vietnam has become one of the most attractive investment destinations in the region, with 128 countries and territories investing in Vietnam. The FDI sector has also become a vital component of the Vietnamese economy, contributing about 25 percent to social investment capital and 20 percent to the gross domestic product (GDP). About 58 percent of total FDI capital has gone to the processing and manufacturing sector, helping Vietnam increase the value of products and creating a shift in the domestic economic sector. In 2017, the FDI sector made up 72 percent of total export value and … [Read more...] about Stronger links urged between FDI, domestic business

New businesses to enjoy fee-free services in HanoiThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc (3rd L) and Nguyen Van Binh (2nd L), head of the Party Central Committee’s Economic Commission, attend the “Hanoi 2018 – Investment and Development Cooperation” conference on June 17 - PHOTO: VGP HANOI – The government of Hanoi City will cover all business establishment costs from early August if the city People’s Council approves its proposal, said city chairman Nguyen Duc Chung at a conference in the capital city on June 17. Speaking at the “Hanoi 2018 – Investment and Development Cooperation” conference, he said, “Today I’m glad to announce the Hanoi City People’s Committee has proposed the city People’s Council at its sixth meeting in late July approve its proposal to cover all business establishment and service costs as from August 1.” According to local media reports, the conference … [Read more...] about New businesses to enjoy fee-free services in Hanoi

HCMC calls for more healthcare projects under public-private partnershipBy Hoang Nhung Representatives of Vietnamese and American companies in the healthcare industry hold talks in HCMC on June 15 – PHOTO: HOANG NHUNG HCMC – HCMC has great demand for healthcare projects that develop facilities, equipment and digitization under the public-private partnership (PPP), said the city’s vice chairman, Tran Vinh Tuyen, at a June 15 meeting on healthcare cooperation between Vietnamese and American companies. HCMC seeks to improve the quality of medical examinations and treatment provided to local residents, he said, adding that given the overstretched State budget, attracting PPP investments is an effective solution to promote the growth of the healthcare industry. Nguyen Tan Binh, director of the HCMC Health Department, said the municipal healthcare sector has much room for growth. The city has 28 drug manufacturing plants, 1,200 pharmaceutical companies and 8,200 … [Read more...] about HCMC calls for more healthcare projects under public-private partnership

Hanoi is willing to create favorable conditions for businesses from the Netherlands to invest in infrastructure development, clean water supply and wastewater treatment, said a local official. Chairman of Hanoi People’s Committee Nguyen Duc Chung (R) receives outgoing Ambassador of the Netherlands to Vietnam Nienke Trooster - Source: hanoi.gov.vn Chairman of the municipal People’s Committee Nguyen Duc Chung made the remark at a reception for outgoing Ambassador of the Netherlands to Vietnam Nienke Trooster in Hanoi on June 13. Theo VNA … [Read more...] about Hanoi pledges to roll out red carpet for Dutch businesses

Quang Binh calls for investment in 48 projectsBy Thuy Dung Quang Binh Chairman Nguyen Huu Hoai (standing) calls upon investors to develop projects in the province - PHOTO: THUY DUNG HANOI - The central province of Quang Binh is calling upon investors to develop 48 projects worth up to VND50 trillion (US$2.2 billion) in total during the 2018-2020 period, mainly in the tourism, renewable energy and hi-tech agriculture sectors. At a seminar, “Quang Binh meeting with potential investors in 2018”, held in Hanoi on June 15, Quang Binh Chairman Nguyen Huu Hoai said the provincial government would allocate 8,000 hectares of land for these projects. Quang Binh is endowed with favorable natural conditions to become a tourism hub in Vietnam and throughout Southeast Asia owing to its good beaches and beauty spots. The province is also considered a good destination for its healthy investment environment, having been recognized for achieving highprovincial governance and public … [Read more...] about Quang Binh calls for investment in 48 projects