According to the announcement of the regular meeting in May of Government, Dong Nai is ranked 2nd among 31 provinces in country to attract foreign investment in the first five months of the year, making up of 16.4% of the total national registered capital. The first rank is Ha Noi capital city, making up of 50.1% and the third rank is Ho Chi Minh City, making up of 9.6%. The inauguration ceremony of Akzo Nobel Coating Company. … [Read more...] about Dong Nai is the runner-up in attracting foreign investment in the first five months of the year.
Attracting foreign investment
In parallel with the preferential regimes and policies, some foreign investors do hope Phu Yen province to continue investing in developing infrastructure, training high quality human resources, creating a more attractive and favorable investment environment. According to PPC standing vice chairman, Mr. Le Van Truc, in the past time, foreign enterprises and investors have made significant contribution to the province's economic and social development. The provincial leaders have always paid considerable attention to comparatively timely solve the right requirements from investors; simultaneously directing the departments, sectors, localities to implement the commitments, preferential policies, creating favorable conditions for foreign enterprises to efficiently conduct producing and trading. Mr. Tom Charlton, head of the technical division of Semco Phu Yen Industry Company Ltd. (Hoa Hiep Industrial Zone), let known: after nearly 20 years investing in Phu Yen, Semco Company has been … [Read more...] about Develop inner forces to attract foreign investment
Vietnam has been soliciting foreign investments in airports for the past several years, but it has not succeeded, and critics blame this on the low profitability of airports in the country and vague policies. The government plans to have 26 airports by 2020, building five and upgrading the 21 existing ones, the latter at a cost of some VND221 trillion ($10.5 billion). Le Manh Hung, general director of the national airports operator, the Airports Corporation of Vietnam (ACV), said many airports need to be upgraded and expanded. The government used to provide funds for the construction of airports, usually big-ticket projects, but it has become necessary to attract investment from other sources, both domestic and foreign, he said. It is difficult to mobilize enough taxpayers' money for the task, and other sources have to be tapped, head of the Civil Aviation Administration of Vietnam (CAAV), Lai Xuan Thanh, concurred. Public funds can meet just 60 percent of the need, and the rest … [Read more...] about Vietnam struggles to attract foreign investment in airports
(VEN) - Attracting Foreign Direct Investment (FDI) is one of the important areas to promote local socioeconomic development. Therefore, Dong Nai Provincial Party Committee and People's Committee have continuously created favorable conditions for its area. Foreign investment enterprises have also had significant contributions to Dong Nai's industrialization and modernization. Achievements Dong Nai had 31 established industrial zones (IZs) to date on total areas of more than 10,000 hectares. IZs have filled 65 percent of its total available land for lease. The province currently have had over 900 foreign investment projects in 1,200 valid projects with total investment capital of more than US$14.5 billion. Of which, a number of foreign investment enterprises, such as Formosa (Chinese Taipei), Vedan (Singapore-Chinese Taipei), Hualon (Malaysia-Chinese Taipei) and Fujitsu (Japan) has had projects with total investment capital of hundreds of millions of dollars. These enterprises … [Read more...] about Efficiency in attracting foreign investment
The Hanoitimes - Vietnam should learn the lessons from other countries in attracting foreign investment, and it needs to make fundamental changes in terms of policies, procedures and even the purposes of attractingforeign investment, experts say. What are the differences between Vietnam and other countries? Pho Duc Hieu, Deputy Head of the Business Environment and Competitiveness Division under the Central Institute for Economic Management (CIEM), who, together with other CIEM's researchers, spent two weeks in South Korea and Taiwan to learn from their experiences in attracting investment, said that he can see a lot of differences in the policies applied by Vietnam and those countries. While in Vietnam, "foreign direct investment (FDI) and foreign indirect investment (FII) are the two separate concepts, in South Korea and Taiwan, there is only one concept of "foreign investment", i.e. the capital contributions by foreign investors in domestic enterprises. While … [Read more...] about Economists call for a change in the way of thinking in attracting foreign investment