Fdi inflows in india 2016

A view of HCM City (Photo: VNA) HCM City – Ho Chi Minh City has drawn 497.5 million USD of foreign direct investment (FDI) in the first three months of this year, up 22.4 per cent year on year, according to the city’s Statistics Office. The office reported that in the first quarter of this year, the city issued new investment licences to 216 projects worth 133.2 million USD, a rise of 30 per cent over the same period last year, mostly in construction sector (53.7 million USD). Singapore remained the leading investor in the city with 47 projects with a total capital of 86.7 million USD, accounting for 65.4 per cent of the total FDI the city attracted in the period. Hong Kong (China) came second with 15 projects worth 9.5 million USD, accounting for 7.1 per cent, and Japan with 19 projects worth 9.0 million USD. At the same time, investors also injected additional 87.1 million USD into 37 underway projects. Of the total, 35.5 million USD, or 40.8 per cent, came from the … [Read more...] about HCM City sees over 22 per cent rise in FDI inflows in Q1

At the conference (Photo: VNA) Hanoi (VNS/VNA) - Vietnam needs to develop appropriate policies to adapt to the global minimum tax and remain an attractive FDI destination , heard a seminar in Ho Chi Minh City on March 29. Dr Tran Du Lich told the seminar, titled "Global Minimum Corporate Tax - Prospects and Challenges in attracting FDI in HCM City", that the global minimum corporate tax rate of 15%, which is set to be applied next year in Vietnam , is forecast to have a significant impact on Vietnam in whose economy FDI plays a significant role. The tax applies to multi-national corporations with revenues of at least 750 million euros (870 million USD). When a company invests in a foreign country but pays corporate income tax of less than 15% in that country, it will have to pay the difference in the country where it is headquartered. As of today, 141 countries and territories have signed up to implement the tax. “It is estimated that 1,015 FDI companies in … [Read more...] about Global minimum tax should not impact investors’ benefits: Conference

Cat Lai Port in HCM City. Viet Nam will focus on enhancing the competitiveness of the logistics sector. — VNA/VNS Photo Viet Nam will focus on enhancing the competitiveness of the logistics sector and removing bottlenecks in the sector in order to promote trade and investment with India, an official has said. Speaking at a meeting on Thursday in HCM City, Pham Thi Ngoc Thuy, director of the Office of the Private Economic Development Research Committee, said there was immense potential for improvement in bilateral trade between Viet Nam and India, especially in the logistics sector. Viet Nam’s heavy investment in infrastructure development has created significant opportunities for logistics enterprises, she said. In addition to logistics, other key investment sectors include hi-tech agriculture, food processing, renewable energy, the supporting industry, healthcare, education, infrastructure, and tourism, among others. Bilateral trade between the two countries has grown … [Read more...] about Viet Nam to enhance competitiveness of logistics sector

Vietnam now sees a sharp increase in rice orders from the Philippines and China. Acccording to Pham Thai Binh, General Director of Trung An Hi-tech Agriculture Joint Stock Company in the Mekong Delta city of Can Tho, the company has signed an order to export 2,000 tonnes of rice to China and is under negotiation for another batch of 20,000 tons. Statistics from the General Administration of Vietnam Customs show that in the first two months of this year, China imported 152,640 tons of rice from Vietnam worth 90 million USD, a year-on-year increase of 86% in volume and 120% in value. Vietnamese rice exported to China enjoyed an average price of 589.7 USD per ton, 18.3% higher than that of the same period last year. Chinese customers mainly imported Vietnam’s high-quality rice like fragrant rice and sticky rice with high prices. Meanwhile, the Philippines is anticipated to import about 2.8 million tons of rice from Vietnam during the 2022-2023 crop because the country’s rice … [Read more...] about Vietnam expected to export 7 million tons of rice this year: Ministry

Vietnamese steel industry calling for wider investment from overseas entities, photo Le Toan Posco Yamato Vina Steel JSC, a joint venture between South Korea’s Pohang Iron and Steel Company and Japan’s Yamato Holdings, is contemplating constructing a second facility in Vietnam. Lee Youngwoo, general manager of Posco Yamato Vina, wants to “establish a robust sales network” across Vietnam while enhancing scrap supply security. In 2020, Posco Yamato Vina was the first to manufacture wide H-shaped steel in Vietnam. According to Lee, the business built a representative office in Haiphong last year in order to “create additional prospects for collaboration” with clients. In the southern province of Ba Ria-Vung Tau, Posco Yamato Vina operates a steel mill with a capacity of one million metric tonnes per year and produces section steel with a capacity of 500,000 tonnes per year. Following a lack of foreign investment in steel manufacturing in recent years, many observers see Posco … [Read more...] about Vietnamese steel industry calling for wider investment from overseas entities

Vietnamese Ambassador to the UK Nguyen Hoang Long presents gifts to the three speakers at the event. (Photo: VNA) London (VNA) – Speakers from the British Museum and Library have introduced documents on Vietnam’s culture and its long-standing ties with the UK, at a discovering-Vietnam event held at the D-Contemporary in central London. The March 30 event was organsied by the Vietnamese Embassy as part of its Vietnamese Days in the UK programme lasting from March 28 to April 27. One of the speakers, Sud Chonchirdsin, the curator for the Vietnamese collection at the British Library from 2005-2019, showed visitors to historical documents proving that the Vietnam-UK trade relationship was formed 350 years before the two countries officially established diplomatic relations in 1973. Among the items were two letters, one by Lord Trinh Tac sent in 1673 to William Gyfford, head of a delegation from the British Government’s British East India Company when the group came to … [Read more...] about British national museum, library introduce items on Vietnam

Directors and audience hold talks after the screening (Photo: VNA) Paris (VNA) – Documentary films produced by young Vietnamese directors are being screened in a special programme entitled “L’aventure Varan Vietnam” (Adventure of Varan Vietnam ) under the umbrella of the Cinéma du Réel 2023 (International documentary film festival) which is underway in Paris from March 24- April 2. Director Ha Le Diem’s “Nhung dua tre trong suong” (Children of the Mist), Tran Phuong Thao’s “Uoc mo lam cong nhan” (Pomelo), “Chuyen di cuoi cung cua chi Phung” (The last journey of madame Phung) by Nguyen Thi Tham are three among 20 works introduced at the event. The works were created in training programmes conducted by Varan Vietnam Productions since 2004. Speaking at a screening, Vietnamese Ambassador to France Dinh Toan Thang highlighted the significant meaning of the event in welcoming the 50th anniversary of Vietnam- France diplomatic relations and the tenth anniversary of the … [Read more...] about Vietnamese documentary films screened in France

An ongoing rise in Vietnam's rice price is the continuation of a trend that began last year when Chinese and Indonesian importers upped their consumption of the Vietnamese staple. Statistics from the Ministry of Agriculture and Rural Development indicated that Vietnam exported an estimated 900,000 tonnes of rice worth VND11.3 trillion (US$480 million) in March, taking the total volume and value of rice exports in the first three months of the year to 1.79 million tonnes and VND22.3 trillion ($952 million), respectively. While the total value of Vietnamese rice exports surged 30 percent against the same period last year, the volume fell 19 percent. From January to March, Vietnam’s rice export price averaged VND12.5 million ($531) per tonne, up 9.2 percent year on year. During the first two months of 2023, Vietnam shipped 401,980 tonnes of rice valued at VND4.8 trillion ($204.69 million) to the Philippines, making the archipelago Vietnam’s largest rice buyer, accounting for 43 … [Read more...] about Export price of Vietnamese rice on the rise

The project was funded by the German Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) under the International Climate Initiative (IKI) and implemented by the German Corporation for International Cooperation (GIZ) from 2019 to 2023. Addressing the event, Tang The Cuong, Director of the Department of Climate Change under the Ministry of Natural Resources and Environment, said as one of the countries that are hardest hit by climate change, Vietnam has made strong commitments to joining hands with the international community in responding to climate change. The Government of Vietnam ratified the Paris Climate Accords in 2016 and issued a plan to implement the agreement. At the 26th UN Climate Change Conference (COP26), the Vietnamese Prime Minister announced Vietnam’s commitment to net-zero emission by 2050. As part of efforts to realise the commitment, Vietnam has significantly increased its contribution to greenhouse gas emission reductions in the updated … [Read more...] about German-funded project supports Vietnam in implementing Paris Agreement

Speaking at an event for "Support to Vietnam for the implementation of the Paris Agreement” (VN-SIPA), Jens Schmid-Kreye, deputy director of the Department of Economic Cooperation and Development at the German Embassy in Vietnam said, "The Vietnamese government and people can depend on the assistance of the German government to help the country strive towards the objectives of the Paris Agreement." Jens Schmid-Kreye, deputy director of the Department of Economic Cooperation and Development, Embassy of Germany in Vietnam Schmid-Kreye urged Vietnamese agencies and sectors to continue "joining hands and working collaboratively towards the goal of carbon neutrality by 2050 by implementing the Nationally Determined Contribution (NDC) and the Just Energy Transition Partnership." Vietnamese ministries and sectors are integrating strategic policies and plans with solutions to execute the NDC to provide a foundation and legal framework for achieving net-zero emissions by 2050. … [Read more...] about Vietnam aggressively implementing the Paris Agreement