Central vietnam investment

Illustrative image (Source: VNA) Hanoi (VNA) – Samsung Electronics ’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry . During his recent trip to Vietnam, CEO Roh Tae-Moon unveiled that Samsung will make an additional investment of 3.3 billion USD in the country this year, enabling the Korean technology giant to start producing semiconductor components in Vietnam by July 2023. In fact, part of the investment commitment has been materialised, with 841 million USD for Samsung Complex HCMC-SEHC in Ho Chi Minh City and 1.18 billion USD for Samsung Electro-Mechanics in the northern province of Thai Nguyen. Since 2019, the tech giant has announced that it will raise investment in the semiconductor industry to a whopping 151 billion USD. When Vice Chairman Lee Jae-yong visited Vietnam in 2020, host leaders expressed their wish that Samsung will invest in the … [Read more...] about Vietnam – new stop for semiconductor producers

Vietnam says that its trade relations with the US have coincided with the World Trade Organization's regulations. Vietnam stands ready to discuss with the US to address issues emerging in trade, Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang said today. Vietnam has always worked with the US through existing mechanisms, including Trade and Investment Framework Agreements (TIFAs), to boost trade and investment for the sake of businesses and people of both sides, Hang shared the view at the press conference on August 11. Warehouse storage of steel products in Vietnam. Photo: VNA On August 8, the US Department of Commerce (DOC) issued an official notice on the initiation of an investigation into trade remedy evasion with respect to a number of steel pipe products imported from Vietnam. According to ASL law firm , Large US steel pipe producers asked the US to launch an investigation after learning that Vietnam was importing Hot Rolled Steel … [Read more...] about Vietnam willing to work with US on emerging issues: Spokeswoman

The strategic framework signing ceremony in Hanoi on August 11 (Photo: Ministry of Planning and Investment) Minister of Planning and Investment Nguyen Chi Dung, as assigned by Vietnamese Prime Minister Pham Minh Chinh, and UN Resident Coordinator in Vietnam Pauline Tamesis signed the document. The Strategic Framework for Sustainable Development Cooperation 2022 - 2026 guides and steers the Government of Vietnam and the UN’s collaboration on accelerating progress to achieve the Sustainable Development Goals (SDGs). It highlights the joint commitment to deliver sustainable development for all. Speaking at the signing ceremony, Dung said that the CF will be implemented at a time when Vietnam has strengthened its post-pandemic economic recovery, responded to climate change and transitioned to a green, circular economy. The Government has also been making efforts to improve institutions and policies in order to mobilize resources from all economic sectors to develop the country. … [Read more...] about Vietnam, UN sign strategic framework for sustainable development cooperation

Children's representatives from Vietnam, Laos and Cambodia take part in the ceremony of dove release pigeons to show the spirit of peace and solidarity. (Photo: VNA) HCM City (VNA) – A festival for children from Vietnam, Laos and Cambodia began on August 10 in Ho Chi Minh City, hosted by the Central Committee of Ho Chi Minh Communist Youth Union (HCMYU). The five-day event draws the participation of 185 children and 34 officials from the three countries. This is an activity to celebrate the “Vietnam- Laos Solidarity and Friendship Year 2022,” the 60th anniversary of the establishment of diplomatic ties between Vietnam and Laos, 45 years of the signing of the Vietnam - Laos Treaty of Friendship and Cooperation, the "Vietnam - Cambodia Friendship Year 2022" and the 55th anniversary of the establishment of Vietnam-Cambodia diplomatic relations. festival has been held. The event is organised every two years since 2010. Last year, it was postponed due to the … [Read more...] about Festival held for children of Vietnam, Laos, Cambodia

Foreign tourists visit the Independence Palace in HCM City on August 8. (Photo: VNA) HCM City (VNS/VNA) - Strict visa policies and a shortage of human resources and infrastructure in the tourism sector have stymied recovery of the travel industry, and the target of five million international arrivals this year could be out of reach, industry players have warned. Domestic travel has seen a strong rebound whereas international tourism, with a target of five million arrivals this year, remains in a slump, said Vu The Binh, Chairman of the Vietnam Tourism Association. Domestic visitor numbers topped 71.1 million in just the first seven months of this year against a full-year target of 60 million, he said. In the same period there were only 733,000 international visitors, or 8% of pre-pandemic numbers, he told a two-day programme titled ‘Lien Ket Suc Manh Du Lich Vietnam Nam 2022’ (Power of Vietnam Tourism Linkages) that ended in Ho Chi Minh City on August 9. Though … [Read more...] about Vietnam mulls ways to boost inbound travel

Great opportunities Vietnam has climbed up the value chain over the years, becoming a key electronics manufacturing hub, attracting stable foreign direct investment with its sound macro fundamentals, preferential tax incentives and an abundance of relatively cheap and productive labor. Electronics, a major driving force of Vietnam’s export growth Vietnamese enterprises are increasingly integrating into the global production chain, as confirmed by international organizations, including the World Bank and the Hongkong and Shanghai Banking Corporation Limited (HSBC) in their reports. For decades an apparel and footwear exporter with a low value added, Vietnam has gradually become an important production center in the technology industry, according to HSBC. Ngo Dang Khoa, HSBC Vietnam’s Country Head of Markets and Securities, said Vietnam has become a production center of electronics and cell phone components, helping it lure an increasing number of foreign … [Read more...] about Vietnam’s star rises in global supply chains

In a meeting on August 9 with Robert McCooey, Senior Vice President of Nasdaq's Listing Services unit, who leads business development for new listings in Latin America and Asia-Pacific, the Vietnamese diplomat said Vietnam wants to attract big firms from the U.S. to invest in the above-mentioned areas, especially those that can contribute to implementing Vietnam's commitments at the 26th U.N. Climate Change Conference of the Parties (COP26). The Delegation of Vietnam to the U.N. is ready to cooperate with Nasdaq in the organization of meetings and seminars to this purpose, especially on the occasion of working visits of Vietnam’s high-ranking delegations to New York, he affirmed. McCooey said that Vietnam's investment environment has a clear competitive advantage in the region thanks to its flexible response policy to the COVID-19 pandemic, and stable legal system. He welcomed the suggestion of the delegation, saying Nasdaq is willing to work with the delegation to introduce … [Read more...] about Vietnam looks to draw reputable U.S. investors: Ambassador

Minister of Planning and Investment Nguyen Chi Dung, as assigned by Vietnamese Prime Minister Pham Minh Chinh, and U.N. Resident Coordinator in Vietnam Pauline Tamesis, signed the document. The Strategic Framework for Sustainable Development Cooperation 2022 - 2026 guides and steers the Government of Vietnam and the U.N.’s collaboration on accelerating progress to achieve the Sustainable Development Goals (SDGs). It highlights the joint commitment to deliver sustainable development for all. Speaking at the signing ceremony, Dung said that the CF will be implemented at a time when Vietnam has strengthened its post-pandemic economic recovery, responded to climate change and transitioned to a green, circular economy. The Government has also been making efforts to improve institutions and policies in order to mobilize resources from all economic sectors to develop the country. “Together with other development partners, the U.N. plays an important role in supporting Vietnam in its … [Read more...] about Vietnam, U.N. sign strategic framework for sustainable development cooperation

This provides an opportunity for the city to seek important partners, establish in-depth relations, promote economic and cultural development, and strengthen international cooperation in personnel training and equipment supplies, Vu told Secretary of the municipal Party Committee Nguyen Van Quang during their working session in Da Nang. According to the Deputy Minister, Da Nang has closely coordinated with the Ministry of Foreign Affairs and central agencies to successfully organise multiple international events. It has also joined efforts to protect Vietnam’s sovereignty over its sea and islands, especially Hoang Sa island district of Da Nang city, he said, noting that the National Border Committee will continue to support Da Nang in this regard through training courses. The Ministry of Foreign Affairs will also further assist the city to seek partners and attract foreign investors, Vu noted. For his part, Quang stressed Da Nang always regards economic and cultural diplomacy … [Read more...] about Countries, major groups seek investment opportunities in Da Nang

Hanoi (VNA) - The following is a list of selected news summaries last night by Vietnam News Agency. - Party General Secretary Nguyen Phu Trong hosted a reception in Hanoi on August 10 for Anouphap Tounalom, Secretary of the Lao People's Revolutionary Party (LPRP) Central Committee, and Secretary of the Party Committee and Chairman of the People’s Council of Vientiane. The Party leader congratulated Laos on its comprehensive achievements, with active contributions made by the capital Vientiane. Read full story President Nguyen Xuan Phuc and Ambassador of Israel Yaron Mayer (Photo: VNA) - President Nguyen Xuan Phuc received in Hanoi on August 10 Ambassador of Kuwait Yousef Ashour Al-sabbagh and Ambassador of Israel Yaron Mayer, who came to present their credentials. At his meeting with Ambassador Al-sabbagh, President Phuc affirmed that Vietnam always attaches importance to and wishes to enhance the traditional friendship with Kuwait, one of the leading economic … [Read more...] about ☀️ Morning digest August 11