Companies multi billion

In the month, local authorities granted licenses for 153 new FDI projects worth USD 1.2 billion, up 48.5% in number and 3.1 times in value. Among these projects, those related to wholesale, retail, and repair of automobiles and motorized vehicles accounted for the lion’s share of the total registered sum, at 54.1% or USD 651.9 million. They were followed by those in the processing and manufacturing industry, which together registered 351.2 million in capital. Also in January, 28 foreign countries and territories invested in Vietnam. Singapore was the largest with USD 767.6 million, followed by China with USD 198.2 million. Meanwhile, Vietnamese investors poured USD 126.7 million on their projects overseas, increasing by 3.4 times against the same month in 2022. Source: VNA … [Read more...] about January FDI nears USD 1.7 billion

Viettel is the only Vietnamese brand in the latest Brand Finance Global 500 rankings. — Photo baochinhphu.vn Viettel is the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. At 234th position globally, Viettel is the only brand of Việt Nam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Meanwhile, e-commerce company Amazon surpassed Apple to become the world’s most valuable though its brand value fell about 15 per cent to US$299.3 billion this year from $350.3 billion in 2022. Apple dropped to the second place as its brand value declined 16 per cent to $297.5 billion. Brand Finance, founded in 1996, is the world's leading brand valuation consultancy present in 20 countries and territories. — VNS … [Read more...] about Viettel named most valuable telecoms brand in Southeast Asia

Foreign investors poured nearly US$1.7 billion into Vietnam as of January 20. In the first month of 2023, newly-registered capital is estimated to have increased 3.1 times over the same period last year, showing that foreign investors still maintain confidence in Vietnam's investment environment. Hanoi ranks among the top localities in foreign direct investment (FDI) in 2022. Photo: Thang Long Industrial Park The Foreign Investment Agency under the Ministry of Planning and Investment reported that there were 801 newly-registered projects totaling $1.2 billion and 89 projects increasing capital with a combined amount of $306.3 million. In addition, 204 transactions of share purchases by foreign investors were worth $174 million, representing a year-on-year decline of 60.7%. Meanwhile, the disbursement of foreign investments dropped by 16.3% to $1.35 billion. The agency attributed the decrease in registered and disbursed FDI to the national holiday (the … [Read more...] about Foreign investors remain confident about Vietnam’s business environment

According to Director of the Hue Relics Preservation Center Hoang Viet Trung, under the Nguyen Dynasty, the rituals marked the end of the lunar New Year holiday and the start of work and normal activities. The Neu pole was erected on the 23rd day of the 12th lunar month, marking the beginning of Tet. It coincides with the day when the Kitchen Gods are believed to ride a carp to Heaven to report on events from the past year. During 143 years of its reign (1802 – 1945), the Nguyen Dynasty held an annual ceremony to plant the Neu at the Imperial Citadel. The pole carried ritual items on its top, like a royal seal, a paper scroll and pen, which implied that the royal court stopped working during Tet. After the royal ceremony, ordinary people would erect their own Neu and start celebrating Tet. The Neu was intended to ward off ghosts and demons from entering the community during Tet, and guide the spirits of ancestors on the way home for the lunar New Year festival. The custom is also … [Read more...] about Neu pole lowering, seal opening ceremony celebrates new year

Decreasing demand for apartments in the region is also forecast to continue through at least the middle of the year. But it may begin to gradually rise by the last quarter of 2023 as legal bottlenecks and obstacles to credit are slated to be at least partially removed by the government, according to DKRA real estate consultants. DKRA Vietnam deputy R&D director Vo Hong Thang said apartment market liquidity, this year, would concentrate in affordable housing projects with prices of below VND50 million ($2,118) per square meter in HCMC and less than VND35 million per square meter in Binh Duong. Such social housing projects promise to be a ray of light in the otherwise gloomy 2023 market, he said, while adding the caveat that supply would still be limited. According to Thang, businesses are gradually supplying fewer high-priced homes and more affordable apartments and social housing units this year. He said this trend may last until 2025, with new supply focusing on the city’s … [Read more...] about Apartment market to continue slumping this year

PM Pham Minh Chinh inspects progress of the project (Photo: VNA) Dong Nai (VNA) – Prime Minister Pham Minh Chinh on January 29 asked the southern province of Dong Nai to complete the handover of cleared ground for the first-stage construction of Long Thanh international airport by the end of this first quarter. During a working session with ministries, agencies, localities and stakeholders of the project after making a fact-finding trip earlier the same day to the construction site, he assigned them to responsibility for the work under their watch and solve existing issues. The Government has directed the establishment of a working group led by Deputy Prime Minister Tran Hong Ha to oversee and speed up the project, PM Chinh revealed. At the construction site, he asked ministries, agencies, localities and investor to hasten the implementation of the project, with quality guaranteed. Covering a total area of more than 5,580 hectares, the Long Thanh international … [Read more...] about Problems must be settled for Long Thanh airport construction: PM

A showroom displays and sells products under the country’s One Commune-One Product (OCOP) programme and other products in the Cuu Long (Mekong) Delta province of Tra Vinh. (Photo: VNA) HCM City (VNS/VNA) - The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme. Launched in 2018, the OCOP programme focuses on developing specialty products and high-quality products in rural areas to increase incomes for locals and boost the sustainability of economic development in rural areas. OCOP products are commercial products and services such as food and beverages, handicrafts and rural tourism services. They are classified as having one to five stars. Under the programme, the Cuu Long delta, which is the country’s largest rice, seafood and fruit producer, has developed more OCOP products and increased their value. Can Tho recognised 18 new OCOP products last year, including 10 three-star … [Read more...] about Mekong Delta develops more OCOP products

During a working session with ministries, agencies, localities and stakeholders of the project after making a fact-finding trip earlier the same day to the construction site, he assigned them to responsibility for the work under their watch and solve existing issues. The Government has directed the establishment of a working group led by Deputy Prime Minister Tran Hong Ha to oversee and speed up the project, Prime Minister Pham Minh Chinh revealed. At the construction site, he asked ministries, agencies, localities and investor to hasten the implementation of the project, with quality guaranteed. Covering a total area of more than 5,580 hectares, the Long Thanh international airport will spread across six communes in Long Thanh district, Dong Nai province. The airport’s total investment is VND 336.63 trillion (USD 14.6 billion), with construction divided into three phases. In the first phase, a runway and one passenger terminal along with other supporting facilities will be … [Read more...] about Problems must be settled for Long Thanh airport construction: Prime Minister