VNGOP - In the first five months of 2007, Vietnam made a record in attracting foreign investment, with a total capital up to US$ 5.2 billion. A growth rate of over 30% was also obtained in various fields such as capital disbursement, export, and budget contribution. … [Read more...] about VN makes record in attracting foreign investment
Attracting foreign investment
The author of the article took Vietnam's garment and textile industry as an example and stated that this is a main export sector to gather foreign currency and generates jobs for labourers. Payment for employees in Vietnam is quite low, therefore, garment and textile businesses in the US, EU, Japan and Korea are step by step moving from traditional markets such as China, India and Thailand to Vietnam. The government of Vietnam has created investment advantages through measures such as speeding up synchronic infrastructure construction, reducing and exempting corporate income tax and training support.The government broadly mobilizes internal and external capital to build bridges and roads. Major works such as Can Tho Bridge, the highway from Ho Chi Minh City to Trung Luong have been operational and have greatly improved transportation conditions in the Southern region where foreign investment largely poured in. Vietnam's National Assembly promulgated the new Investment Law appropriate … [Read more...] about Vietnam has many advantages to attract foreign investment
Political stability and cheap labor have contributed to a healthy economy in Vietnam, rivaling Indonesia's economic growth within the Southeast Asian region, says a senior Indonesian diplomat. Indonesian Ambassador to Vietnam Pitono Purnomo said Hanoi grew by more than 6 percent last year, surpassing Indonesia, the largest economy in Southeast Asia, because the state provided better security and offered cheaper labor. Indonesia's economic growth stood at 4.5 percent in 2009. "Demonstrations are rare in Vietnam as the government imposes strict security rules. This is an advantage when it comes to attracting foreign investment," he said. The ambassador said Indonesia had better wage standards and working conditions compared to Vietnam, but this had also discouraged foreign investment. "Living standards are lower in Vietnam and that's why they can suppress wages," he said. Indonesia's foreign investment stood at US$10.82 billion in 2009 with Singapore as the biggest investor, … [Read more...] about Vietnam surpassing Indonesia in attracting foreign investment
E-commerce attracts foreign investment Van Oanh By Van Oanh - The Saigon Times Daily HANOI – Foreign investors made strong investments into Vietnam’s e-commerce industry in 2012, noted Nguyen Thanh Hung, vice chairman of the Vietnam E-commerce Association. The industry in 2012 recorded the prominent capital contribution of foreign investors in local trading websites such as Wada.vn, Vn.Hao123.com (Baidu) or Tencent (Wechat), Hung said. Investors came from many nations including Japan, Russia, China and Germany, and foreign direct investment in the e-commerce sector for the first time was bustling in Vietnam last year. In previous years, foreign companies had tended to make indirect investments by buying stakes in local websites such as Cho Dien Tu, Nhom Mua and Vat Gia via venture funds like VinaCapital or IDG. However, Hung did not have the specific figure of total foreign investment value in the sector. The vigorous direct foreign investment into the e-commerce … [Read more...] about E-commerce attracts foreign investment
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.