Capital attraction

Illustrative image. (Photo: VNA) Localities in the region have also organized investment promotion workshops to popularize Vietnam’s investment environment and its advantages and potential. In mid-May, Pandora, a Danish jewelry manufacturer, announced that it will invest US$100 million to build a new facility in the Vietnam Singapore Industrial Park (VSIP) in the southern province of Binh Duong under a memorandum of understanding signed between two sides. Jeerasage Puranasamriddhi, Chief Supply Officer of Pandora group, said they have chosen Binh Duong province for the availability of skilled workforce, its infrastructure and proximity to international airports, adding that the enthusiasm, support and strong commitment the group receives from the local administration was also a reason. According to the provincial People’s Committee, in the first four months of this year, Binh Duong attracted a total of $2.35 billion in 16 new projects, nine existing ones, and from the … [Read more...] about Key southern economic region a magnet for FDI

Project funding structure The road will be 98 kilometers long - 54 kilometers in Hanoi, 23 kilometers in Hung Yen Province and 21 kilometers in Bac Ninh Province. The belt is expected to ease traffic congestion that has hampered economic development of the capital and its satellite cities. For Hanoi, this is also the road connecting Noi Bai International Airport and a second international airport in the southeast of the capital, regulating the expressway system and reducing the load on ring road 3, which connects five satellite cities in Hanoi’s urban cluster. Hanoi’s traffic infrastructure has developed significantly To ensure balanced resources, the project will combine public and private funding. The total project budget stands at about US$3.7 billion, including three sub-projects undertaken by investors with a total investment of almost US$1.3 billion. According to Vice Chair of the Hanoi City People’s Committee Duong Duc Tuan, this is a very effective and … [Read more...] about About US$3.7 billion to be invested in Hanoi’s ring road 4 construction

The completion of these projects would help ensure Hanoi’s rapid and sustainable development towards green, smart, and modernization while maintaining the harmonization between rural and urban areas. The capital city has so far completed around 70% of the total area subject to site clearance under smart urban projects in the city. Overview of the smart city project in Dong Anh District. Photo: BRG To date, the progress has been encouraging as contractors are speeding up the completion of the site clearance process. According to a recent report, site clearance for the construction of the new residential project Tay Mo – Dai Mo – Vinhomes Park in Nam Tu Liem District has almost concluded, with the  70% of the work volume completed. Around 80% of the land for the projects in the communes of Xuan Canh, Dong Hoi, and Mai Lam (Dong Anh District) have been cleared, and the authorities are handing over clear sites to contractors. The local authorities are also … [Read more...] about Hanoi accelerates construction of smart urban projects

Jose Mestre, a representative of the Central Retail Group in Vietnam, speaks at the conference (Photo: VNA) Bac Giang (VNA) – The northern province of Bac Giang, in collaboration with the ministries of Industry and Trade, and Agriculture and Rural Development, held an online conference on litchi sales for nearly 80 target markets at home and abroad. The conference provided an opportunity for Bac Giang to promote litchi sales in domestic and export markets; and strengthen its coordination with centrally-run agencies, domestic and foreign provinces and cities, and overseas Vietnamese economic, trade and diplomatic agencies. It also served as a forum for domestic and foreign businesses to find partners and sign contracts for litchi and litchi-based products in this year. Speaking at the event, Vice Chairman of the People’s Committee of Bac Giang province Phan The Tuan said that thanks to the favourable weather and the close control of growing area codes, the … [Read more...] about Bac Giang promotes litchi sales at home and abroad

Delegates attended to the factory's groundbreaking ceremony. — Photo baodautu.vn Kurz International Holdings GMBH from Germany held a groundbreaking ceremony to build a thin-film factory at the Becamex Viet Nam-Singapore Industrial Park (VSIP) in the south central province of Binh Dinh on Tuesday. Kurz International is the first European investor to invest in the 1,425-ha park as well as in the south central province. The US$40-million project covers 12,000sq.m. It is the third invested by Kurz International in Asia. The first phase of the project is expected to be operational in the third quarter of 2023, with a total production capacity of 15 million sq.m of hi-tech film and coating products a year. Depending on operations in Viet Nam, the total investment for the project is expected to be up to $100 million in 10-15 years. General Director of KURZ Vietnam Co, Cosima von Salis said the new factory in Binh Dinh Province will help strengthen the influence of KURZ Group in … [Read more...] about Work begins on $40-million thin film project in Binh Dinh

President Nguyen Xuan Phuc speaks at the meeting with the National Assembly deputies group of Ho Chi Minh City. (Photo: SGGP) According to the President, the economic indicators in the first five months of 2022 are encouraging, showing signs of growth in budget revenue, import and export, and agriculture. The macroeconomy has always been maintained and is the outstanding point in operating. Vietnam's vaccination strategy has been implemented drastically and is recognized by the world. However, the signs of inflation are clear, especially when Vietnam's economy has a fairly high openness. The stock market is an important capital mobilization channel, but billions of dollars have been evaporated recently. Therefore, it is necessary to have better measures and methods to support the stock market to stabilize, send capital flows to businesses, create jobs, and determine growth. State President Nguyen Xuan Phuc quoted an article "Not let inflation sweep away underprivileged people" … [Read more...] about President emphasizes importance of timely support for people, enterprises

The market was dominated in green and purple, with about 800 stocks increasing thanks to significantly improved liquidity. Among these, securities and banking stocks rebounded strongly, such as STB with 4.6 percent, TCB with 3.55 percent, VPB with 5 percent, HDB with 4.27 percent, MBB with 4.47 percent, VCI with 6.12 percent, HCM with 5.26 percent, VCB with 1.9 percent, and BIDV with 3.5 percent, contributed greatly to the rising momentum of the benchmark. These groups of stocks rallied robustly, spreading the upward trend to the whole market. The stock group with the second-largest market capitalization - real estate and construction - also made strong breakthroughs. Specifically, CEO, CTD, and SCR hit the ceiling price; DXG rose by 4 percent; HDG advanced by 4.9 percent; C4G emerged by 5.8 percent. Besides, many other stocks, including FPT, PNJ, SZC, and PVD, also soared by the daily limit, sending the VN-Index up by nearly 36 points. In addition, steel stocks also made a U-turn, … [Read more...] about VN-Index climbs by nearly 36 points as cash flow returns

The projects invested by the ministry include the transport project connecting mountainous Northern provinces, the Tan Van - Nhon Trach section of Ho Chi Minh City's Ring Road No. 3 project, the construction of Dien Chau-Bai Vot section of the North-South expressway, My Thuan – Can Tho Expressway, construction of the Interconnecting Road to National. Highway No 91 and Long Xuyen City bypass, the subproject on upgrading and renovating National Highway 279B, construction of the National Roads of 21B and 15, and the project to upgrade the runways at Tan Son Nhat International Airport. The Ministry of Transport has disbursed VND15,080 billion (US$650 million), reaching 34.9 percent of the plan. The ministry has allocated VND45,343 billion (US$1.95 billion) for a public investment plan in 2022 to investors, achieving 90 percent of the Prime Minister’s plan. The remaining capital will be given when subprojects of the North-South expressway project in the 2021-2025 period are … [Read more...] about Transport Ministry announces projects with slow disbursement

In their joint article run recently in the website of the Australia-Vietnam Policy Institute, Dr. Melissa Jardine, the Chair of the Board of Directors at the Australia Vietnam Leadership Dialogue (AVLD) and Dr. Tran Hong Van, Adjunct Research Fellow at Charles Sturt University noted that the Australian Vietnamese community comprises 1.2 percent of Australia’s population, and Vietnamese is among the top four spoken languages other than English (LOTE). While individual and family efforts to maintain Vietnamese language capabilities are observed, there are limitations on its effectiveness, they noted, adding that the children of Vietnamese immigrants (along with non-Vietnamese Australians) are unlikely to have mastered the sophisticated skills in speaking, reading and writing needed for cross-generational communication, cultural and identity maintenance, as well as for the progression of Australia’s geo-political aims. Among Australians with Vietnamese heritage (hereinafter, the … [Read more...] about Experts underlines significance of learning, teaching Vietnamese in Australia

The Viet Nam -Asia DX Summit 2022 opened in Ha Noi on Wednesday. — Photo vietnamplus.vn The Viet Nam-Asia Digital Transformation (DX) Summit 2022 opened in Ha Noi yesterday, where experts are examining ways to further utilise the advantages of digitalisation for the economy and society. The digital economy is making many important contributions to the global economy, said Nguyen Van Khoa, Viet Nam Software and IT Services Association (Vinasa) chairman. Facing the trend towards digitalisation, many countries have taken the opportunity to develop the digital economy and have issued their own development strategies, he added. The summit is organised by Vinasa under the direction and patronage of the Ministry of Information and Communications. Data from Google and Temasek shows that the Vietnamese internet economy achieved US$21 billion last year and contributed more than 5 per cent of the country's GDP. Studies show that the growth rate of the Vietnamese digital economy is … [Read more...] about Viet Nam-Asia DX Summit 2022 opens in Ha Noi