Business investment relief

Deputy Prime Minister Pham Binh Minh (R) receives Chairman of Daewoo E&C Group Jung Won-ju (Photo: VNA) Hanoi (VNA) - The Vietnamese Government is willing to create favourable conditions for foreign enterprises, including those from the Republic of Korea (RoK), to expand investment and business in Vietnam, Deputy Prime Minister Pham Binh Minh told Chairman of Daewoo E&C Group Jung Won-ju. During a reception for Jung on June 22, the Vietnamese leader expressed his belief that the two countries' relations will continue to develop more intensively and substantively in various fields, especially trade and investment. Deputy PM Minh highly valued investment of RoK enterprises in Vietnam, including Daewoo E&C Group. He said that Starlake Tay Ho and Meyhomes Capital Phu Quoc projects invested by the firm have contributed to creating a spacious and modern urban landscape, and improving the value of the Vietnamese people's lives. He expected Daewoo E&C Group to … [Read more...] about Vietnam welcomes RoK firms’ investment expansion: Deputy PM

Corio Generation 's leader Guillermo Martinez-Navas signs an agreement with FECON for a proposed 500 MW offshore windfarm in Ba Ria - Vung Tau province. (Photo: courtesy of  the firm) Hai Phong (VNS/VNA) - Corio Generation of Macquarie Group (Australia) proposed researching an offshore wind power plant project with a capacity of about 1,000MW at the total investment of between 2-3 billion USD in the northern port city of Hai Phong . The proposal was discussed in a meeting with the city's leaders and a delegation of the Australian Embassy and Australian investors seeking cooperation and investment opportunities in Hai Phong last week. The business representative said that the project would have a capacity of about 1,000MW in 30 years and would be expected to meet about 50 percent of the city's electricity demand, creating jobs for local workers. Responding to the proposal of Corio Generation Company, Vice Chairman of the municipal People's Committee Nguyen Duc … [Read more...] about Macquarie Group plans to invest 3 billion USD in Hai Phong wind farm

Vietjet and Da Nang exchange their MoU and annouce the opening of the seven new international routes under the witness of Prime Minister Pham Minh Chinh (holding the microphone)(Photo: Vietjetair.com) Hanoi (VNA) – The new-age carrier Vietjet has officially announced its seven new routes connecting the central coastal city of Da Nang with Singapore, the Republic of Korea (RoK), and India at the recent Da Nang Investment Forum 2022. As the first step in the airline's cooperation commitments with the city, the routes will link the Da Nang with Singapore, Busan of the RoK, and five cities of Indian - New Delhi, Mumbai, Hyderabad, Ahmedabad and Bangalore. They will operate from July, with four to seven return flights per week, meeting the demand for tourism, trade, investment, and visiting relatives. Vietjet Vice President Nguyen Thanh Son said: "Da Nang is one of the most attractive destinations for international tourists in Vietnam. Vietjet has transported … [Read more...] about Vietjet launches 7 new international routes at Da Nang Investment Forum 2022

Prime Minister Phạm Minh Chính speaks at the Đà Nẵng investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Đà Nẵng Investment Forum ĐÀ NẴNG — The Government of Việt Nam will keep reforming policies in administrative procedure, legal environment, more transparency and publicity in creating trust and confidence among domestic and foreign businesses investing in Việt Nam and Đà Nẵng. Prime Minister Phạm Minh Chính made the comments at the Invest Đà Nẵng Forum in the central city on Saturday, urging businesses to invest more in Việt Nam and Đà Nẵng for both the benefit of business and the country’s prosperous development. “The Government of Việt Nam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chính said. “We do … [Read more...] about Đà Nẵng City calls for investment

Prime Minister Pham Minh Chinh speaks at the Da Nang investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Da Nang Investment Forum Prime Minister Pham Minh Chinh made the comments at the Invest Da Nang Forum in the central city on Saturday, urging businesses to invest more in Vietnam and Da Nang for both the benefit of business and the country’s prosperous development. “The Government of Vietnam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chinh said. “We do all the best in preventing corruption, inflation control, flexible money policy, diversifying supply chains to create trust and stable conditions for investors when doing business in Vietnam.” The PM also highlighted the efforts in the control of the Covid-19 … [Read more...] about Da Nang City calls for investment

Prime Minister Pham Minh Chinh speaks at Da Nang 2022 Investment Forum Da Nang (VNA) – Prime Minister Pham Minh Chinh on June 25 attended the Da Nang 2022 Investment Forum held in both online and in-person formats in the central city of the same name with the participation of a total of 900 delegates. The forum was held to popularise the potential, advantages and chances of investment of the city; and to attract both domestic and foreign investment . Participants spoke highly of the city’s business and investment environment and expressed their hope that Da Nang will pay attention to the strategic infrastructure and concertedly implement the laws related to investment so as to create favourable conditions for firms in their investment, business and production. The PM thanked the international community for its support to and positive assessments of Vietnam in the pandemic fight, and stressed his government is committed to continuing the building of an investment … [Read more...] about PM attends Da Nang 2022 Investment Forum

Minister of Planning and Investment Nguyen Chi Dung Public investment has been disbursed slowly in the first half of this year which shows weaknesses in the guidance and direction of the localities. Minister of Planning and Investment Nguyen Chi Dung spoke to Vietnam News Agency about the reasons for the situation and solutions to speed up the disbursement rate and implementation progress. Could you explain why the disbursement rate of public investment capital was low in the first half of this year? By the end of May, the disbursement rate of public investment reached 22.4 per cent of the plan assigned by the Prime Minister, below the Government’s expectation. This led the Prime Minister to set up six working groups to inspect and push for faster disbursement in the ministries and localities with low rates. However, in my opinion, to assess whether it is slow or not, it’s necessary to look at it in a broad perspective and across the whole period. For example, during the … [Read more...] about Radical and long-term measures needed to boost public investment disbursement

The Vietnam – Europe Business Forum takes place in HCMC on June 30. (Photo: VNA) Dao Minh Chanh, Deputy Director of the municipal Department of Planning and Investment, said EU countries are investing in 2,724 projects in HCMC, mostly in the fields of manufacturing and processing, retail and wholesale, motor and automobile repair and maintenance, and information and communications. Worth a total of US$7.69 billion, they account for 10.27% of FDI in the city, he said. HCMC has constantly improved its business climate and adopted various incentives to encourage more FDI, he said, adding that most notably among the incentives include reductions in corporate income tax, import-export duties and land lease. Vo Van Hoan, Vice Chairman of the municipal People’s Committee, highlighted the importance of the EU-Vietnam Free Trade Agreement (EVFTA) which has entered into force, saying it has brought great and balanced benefits to both sides and there is a huge opportunity for Vietnam and … [Read more...] about HCMC calls for EU investment in nearly 200 projects

Denmark’s LEGO recently poured a green investment worth over US$1.3 billion into Vietnam. (Source: baodautu.vn) The strategy for 2021 - 2030, signed off by Permanent Deputy Prime Minister Pham Binh Minh, aims at raising capital flows from countries and territories in certain regions to over 70% of total foreign investment in Vietnam during 2021 - 2025 and 75% during 2026 - 2030. The targeted partners include the Republic of Korea (RoK), Japan, Singapore, China, Taiwan (China), Malaysia, Thailand, India, Indonesia, and the Philippines in Asia; France, Germany, Italy, Spain, Russia and the UK in Europe, and the US. This strategy also looks to raise the number of multinationals listed in Fortune Global 500 operating in Vietnam by 50 percent. According to Dau tu (Vietnam Investment Review), the Foreign Investment Agency under the Ministry of Planning and Investment has held a working session with Intel. Details about this meeting haven’t been revealed, but it was likely about the … [Read more...] about Vietnam looks forwards to stronger investment from US, Europe

The Saigon Hi-tech Park in HCM City’s Thu Duc city. HCM City will focus on speeding up investment procedures to attract more investors. (Photo baodautu.vn) HCM City (VNS/VNA) – Ho Chi Minh City will focus on helping businesses invest in the Saigon Hi-tech Park in Thu Duc city by addressing slow administrative procedures, a conference on facilitating investment heard on June 27. Vo Sy Nhan, general director of office space provider Onehub Saigon Bund, said though the park has been making efforts to help, his company’s project there has been slow to make a start. It was approved in 2014, but has been stymied by administrative bottlenecks, he said. For instance, approval for its land planning adjustment has been slow, and since the park itself is also going through a similar process, it could take long, he said. It is also having difficulty extending its land lease contract, which requires the city’s approval, he said. Nhan has asked relevant authorities to quickly … [Read more...] about Saigon Hi-tech Park to speed up investment procedures