Business environment

Deputy Minister of Planning and Investment Vu Dai Thang said while the global flows of foreign direct investment (FDI) could decline by up to 40 percent in 2020 due to the impact of the pandemic, the FDI attraction in Vietnam in the first six months remained positive. Specifically, in January-June, the total amount of capital registered by foreign investors reached 15.67 billion USD, a year-on-year drop of 15.1 percent. However, the newly-registered and added capital increased 13.8 percent and 26.8 percent to reach 8.43 billion USD and 3.72 billion USD, respectively. “These are positive signs, showing the confidence of foreign investors in the business environment in Vietnam,” Thang said. Particularly, Vietnam is home to over 32,000 projects worth 378 billion USD from 136 countries and territories. While countries across the world are still in the fight against COVID-19, Vietnam has resumed business activities as usual and become one of the first countries to diversify … [Read more...] about Foreign investors confident in Vietnam’s business environment: official

Hanoi (VNS/VNA) - Barriers in the business environment must be removed to promote the development of private enterprises, which is considered a push for post-pandemic economic growth, experts said. Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry, said that Vietnamese firms were undergoing a crisis caused by the COVID-19 pandemic. “It’s time to speed up reforms and create a favourable business environment for the private sector,” Loc said, adding that the focus would be on strengthening institutional reforms, simplifying administrative procedures and improving the investment climate. The pandemic was spurring a wave of investment shift with signals that Vietnam would have significant opportunities to become a global production centre. However, the opportunities would come and go quickly if Vietnamese enterprises did not improve their competitiveness drastically to participate in global value chains, Loc said. Improving competitiveness of … [Read more...] about Improving business climate critical to post-pandemic growth

For his part, Economist Le Duy Binh said the No. 1 principle in the process is to ensure that the burden of compliance costs, legal affairs and taxation for individual and single-owner enterprises will not be much higher or even equal to those incurred by business households at present. … [Read more...] about Micro-sized enterprises need pro-business environment

Collaborative projects can embrace the following thematic areas: biodiversity conservation, plastic waste management, sustainable tourism development, marine and coastal conservation, forest landscape restoration, water and wetland conservation, renewable energy and climate change, the report said. … [Read more...] about Vietnam alliance of business for environment launched

The Italian tourism website described Hanoi as a hectic, crazy and often confusing city, and a wonderful base from which to explore the north of Vietnam, including the world natural heritage site of Ha Long Bay in the northeastern province of Quang Ninh and the popular resort town of Sa Pa in the northern mountainous province of Lao Cai. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JUNE 27