The Hanoitimes - Hanoitimes continues with the second part of Vietnam`s top 10 economic events that showed Vietnam`s strong efforts in global economic integration. 6/ Halt of ratification of special economic zone bill Illustrative photo. The draft law of the special administrative-economic zone (SEZ) was submitted to the fourth plenum of the National Assembly for review last October and supposed to be ratified in the fifth session in June. The draft law was expected to create breakthroughs in mechanisms and preferential incentives to boost economic development and investments in three SEZs in Van Don, Bac Van Phong and Phu Quoc in the context of growing global uncertainties, while safeguarding national security and sovereignty. However, it has stirred controversial opinions over the necessity of land leasing duration up to 99 years and tax incentives. This resulted in the National Assembly's decision to delay the voting on the draft law until a … [Read more...] about Vietnam’s top 10 economic events in 2018 (P.2)
3 special economic zone in vietnam
Vietnam’s top 10 economic events in 2018 (P.1)
The Hanoitimes - A 10-year high GDP growth rate, the country’s largest cryptocurrency scam, the controversial special economic zone bill are outstanding pieces of the overall picture of Vietnam’s economy in 2018. Vietnam’s economy has been growing strongly in 2018 and laying solid foundation for the country to fulfill all targets set for the 2016 – 2020 period. Hanoitimes looked back at Vietnam’s top 10 economic events in 2018: 1/ GDP growth reaches 10-year high Illustrative photo. Vietnam’s GDP growth is on track to reach a 10-year high of 7% in 2018, while the macro-economic conditions are stabilized, and inflation rate of 3.55%, below the 4% target set by the National Assembly. There has also been substantial changes in the economic structure, which now places a strong focus on manufacturing/processing, construction and service sectors. It is to noteworthy that the high GDP growth rate in 2018 does not depend on … [Read more...] about Vietnam’s top 10 economic events in 2018 (P.1)
Foreign investors pour US$145 billion into Vietnam’s industrial and economic zones
The Hanoitimes - Vietnam`s industrial parks and economic zones remained the country`s magnet in attracting foreign investment. As of November 2018, Vietnam's industrial parks and economic zones attracted 8,000 foreign projects with total capital of nearly US$145 billion, according to the Ministry of Planning and Investment (MPI). Illustrative photo. Meanwhile, as much as VND970 trillion (US$41.62 billion) in terms of newly-registered capital and additional capital poured into 7,500 projects carried out by Vietnamese investors, stated a report from the Department for Economic Zone Management (DEZM) under the MPI. In the first 11 months of 2018, industrial parks and economic zones issued investment licenses for 560 foreign projects worth US$5.3 billion and other 500 projects with additional fund of over US$3 billion. According to the report, Vietnam currently has 326 industrial complexes covering an area of nearly 93,000 hectares as of the end of November, … [Read more...] about Foreign investors pour US$145 billion into Vietnam’s industrial and economic zones
Vietnam’s infrastructure growth hinges on profitability, funding
Vietnam has an ambitious master plan that aims at complete transformation of the nation’s sluggish infrastructural platforms, so as to attract investment and business, promote its industrial hubs and increase its GDP. According to Asian Development Bank (ADB), Vietnam is among the top in terms of infrastructure development, with average infrastructure investment taking up 5.7 percent of the GDP in recent years, the highest in Southeast Asia. The expansion of the nation’s road network is currently facing financial troubles. Against the cost estimate of $134 billion, only $99 billion has been earmarked so far. The latest Global Infrastructure Outlook has estimated that Vietnam will only meet 83 percent of its infrastructure needs by 2040. Looking at some of the major projects and markers of Vietnam’s infrastructure development can give us an idea of the challenges and opportunities that lie ahead. The big ones Pursuant to the prime ministerial Decision No.631/QD-TTg in … [Read more...] about Vietnam’s infrastructure growth hinges on profitability, funding
Expressways across major urban areas, economic zones prioritized
Expressways across major urban areas, economic zones prioritized By Le Anh Ben Luc-Long Thanh expressway is under construction and is set for completion in 2020 to facilitate transport between the Mekong Delta region and the southeastern region - PHOTO: LE ANH HCMC - The Ministry of Transport is reviewing investments in expressway projects, giving priority to expressway sections that connect major cities and economic areas. As Transport Engineering Design Inc. (TEDI) reported to the ministry on September 4, prioritized expressway sections of the north-south expressway connect major cities and seaports to facilitate transport connectivity. Based on transport demand forecasts, the orientation of socioeconomic development toward 2030 and plans for the economic development of four major economic zones, Vietnam’s expressway network will comprise 21 expressways with a combined length of 6,411 kilometers. In particular, there are two expressways on the north-south expressway … [Read more...] about Expressways across major urban areas, economic zones prioritized