Fdi

European investors have diversified investments in Vietnam to new fields, including telecommunications, finance, office leasing, retail, hi-tech farming, and pharmacy. Foreign direct investment (FDI) inflows to high-quality projects are set to keep increasing to Vietnam in the mid-and long-term thanks to the   EU-Vietnam Free Trade Agreement (EVFTA). Seafood processing at Godaco Company in Tien Giang Province. Photo: Viet Hung The assessment was given in a Government report on the trade and investment relations with the EU one year after the EVFTA kicked off. As of September 2021, the EU has a total of 2,242 ongoing projects in Vietnam with registered capital of $22.24 billion, up 164 projects, and $483 million in the capital against the same period of last year. Such figures accounted for 5.58% of total investment capital and 6.57% of foreign-invested projects in Vietnam, noted the report, adding a number of successful European corporations in Vietnam …

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The administration of Hanoi is scheduled to hold a dialogue with foreign invested businesses on October 19 to seek ways to tackle difficulties facing them amid the COVID-19 pandemic. The event, to be held by the municipal People’s Committee and the Hanoi Investment Promotion Agency, is expected to see the participation of 120 participants, including central and local officials, representatives of embassies, international organisations, and business associations, along with FDI firms operating in the capital city. It will be an occasion for local authorities to learn about obstacles to FDI enterprises’ operations and inform them of solutions to be carried out in the time ahead, especially as Hanoi is entering a “new normal” period after the latest COVID-19 outbreak was put under control. This also serve as a chance for Hanoi to attract more investment. There, participants will be updated on the local socio-economic development and results of the recent …

[Read more...] about Hanoi authorities to meet FDI firms, ease their concerns

Genetica is cooperating with the National Innovation Centre to build a genetic decoding hub for Southeast Asia With the support of the Ministry of Planning and Investment (MPI), gene sequencing tech group Genetica is to cooperate with the Vietnam National Innovation Centre (NIC) to build a genetic decoding centre for Southeast Asia, located at the NIC in Hanoi. The costs were not unveiled, but both sides expect the centre to be up and running before the end of 2021. As announced at a ceremony last week, the Genetica centre at the NIC building will be designed along with the same standards as its US-based lab, with the most rigorous set of standards for genetic testing in the world. Accordingly, Vietnam will be one of very few Southeast Asian countries running CAP and CLIA-standard genetic testing laboratories in order to create new discoveries regarding genetic diseases, developing gene therapy regimens, and researching new medicines based on Asian and Vietnamese genomes. It …

[Read more...] about FDI flow on right path

Electronics components being produced at Japan-Invested INOAC Vietnam in Hà Nội. — VNA/VNS Photo Danh Lam HÀ NỘI — Hà Nội, over the years, has been one of the leading localities in foreign direct investment (FDI) attraction thanks to the city’s efforts to accompany and support investors. Statistics from the Hà Nội Statistics Office, in September, the capital city granted licences to three FDI projects worth US$5.3 million, pushing the total FDI value in the city in the first nine months to $927 million, including $162.6 million on 246 new projects and $492.4 million added to 93 underway ones. According to the municipal Department of Planning and Investment, COVID-19 has posed adverse impacts to foreign investment in Hà Nội, causing a drop in capital. Meanwhile, difficulties have been seen in the transport of goods from other countries to Việt Nam, while many businesses in industrial parks and clusters have faced obstacles in transporting labourers from their residence …

[Read more...] about Hà Nội accompanies investors towards economic recovery

Electronics components being produced at Japan-Invested INOAC Vietnam in Ha Noi. — VNA/VNS Photo Danh Lam Ha Noi, over the years, has been one of the leading localities in foreign direct investment (FDI) attraction thanks to the city’s efforts to accompany and support investors. Statistics from the Ha Noi Statistics Office, in September, the capital city granted licences to three FDI projects worth US$5.3 million, pushing the total FDI value in the city in the first nine months to $927 million, including $162.6 million on 246 new projects and $492.4 million added to 93 underway ones. According to the municipal Department of Planning and Investment, COVID-19 has posed adverse impacts to foreign investment in Ha Noi, causing a drop in capital. Meanwhile, difficulties have been seen in the transport of goods from other countries to Viet Nam, while many businesses in industrial parks and clusters have faced obstacles in transporting labourers from their residence to workplace or …

[Read more...] about Ha Noi accompanies investors towards economic recovery

The Mekong Delta province of Kien Giang has so far attracted 817 projects with total capital of 539.5 trillion VND (23.7 billion USD).(Photo:baoquocte.vn) Hanoi (VNA) – Despite the fact that the COVID-19 pandemic has seriously affected the production and trade of businesses, the Mekong Delta province of Kien Giang remains an attractive investment hub for domestic and foreign investors. The province has so far attracted 817 projects with total capital of 539.5 trillion VND (23.7 billion USD), including 55 FDI projects with over 2.7 billion USD. Kien Giang ranked 20th among 63 provinces and cities and the second among 13 cities and provinces in the Mekong Delta in terms of registered FDI capital. As many as 374 projects have been put into operation, accounting for 45.78 percent of the total projects with a total investment of 63 trillion VND. To gain the above-mentioned achievements, the province has directed agencies and localities to carry numerous solutions …

[Read more...] about Kien Giang province – bright spot in foreign investment attraction in Mekong Delta

The government reported substantial growth in bilateral trade with the EU A recent government report sent to the National Assembly highlighted that trade turnover and foreign direct investment (FDI) from European Union (EU) countries have soared since the EU-Vietnam Free Trade Agreement (EVFTA) came into effect on August 1, 2020. Accordingly, as of the end of September, there were 2,242 projects from all but one EU countries in Vietnam, an increase of 164 projects on-year. Total registered capital was $22.24 billion, a rise of $483 million on-year. The Netherlands ranked first with 382 projects and a total investment of $10.4 billion (accounting for 46.5 per cent of total EU investment in Vietnam). France ranked second with $3.62 billion, followed by Germany ($2.25 billion). Some big EU corporations highlighted by the report for their success are Shell Group (Netherlands), Total Elf Fina (France and Belgium), Daimler Chrysler (Germany), as well as Siemens and Alcatel Comvik …

[Read more...] about EU-Vietnam bilateral rises $480 million in first year of EVFTA

Frozen shrimp being processed for export by workers of Minh Phú Hậu Giang Seafood JSC. Việt Nam's GDP in the third quarter of 2021 decreased by 6.17 per cent from the same period last year, the sharpest decline since Việt Nam announced its quarterly GDP in 2006. VNA/VNS Photo Văn Lanh HÀ NỘI — World Bank continued to lower Việt Nam’s GDP growth forecast for this year to 2-2.5 per cent in its October 2021 Việt Nam Macro Monitoring. Việt Nam's GDP in the third quarter of 2021 decreased by 6.17 per cent from the same period last year, the sharpest decline since Việt Nam announced its quarterly GDP in 2006. Given the sharp contraction of the GDP in the third quarter and depending on the strength of the economic rebound in the fourth quarter, GDP growth for 2021 is projected to be in the 2-2.5 per cent range, well below its August forecast of 4.8 per cent, it said. Labour market conditions worsened substantially, reflecting the adverse economic impacts of the lengthy …

[Read more...] about WB lowers forecast for Việt Nam’s 2021 GDP growth to 2-2.5%

Frozen shrimp being processed for export by workers of Minh Phu Hau Giang Seafood JSC. Viet Nam's GDP in the third quarter of 2021 decreased by 6.17 per cent from the same period last year, the sharpest decline since Viet Nam announced its quarterly GDP in 2006. — VNA/VNS Photo Van Lanh World Bank continued to lower Viet Nam’s GDP growth forecast for this year to 2-2.5 per cent in its October 2021 Viet Nam Macro Monitoring. Viet Nam's GDP in the third quarter of 2021 decreased by 6.17 per cent from the same period last year, the sharpest decline since Viet Nam announced its quarterly GDP in 2006. Given the sharp contraction of the GDP in the third quarter and depending on the strength of the economic rebound in the fourth quarter, GDP growth for 2021 is projected to be in the 2-2.5 per cent range, well below its August forecast of 4.8 per cent, it said. Labour market conditions worsened substantially, reflecting the adverse economic impacts of the lengthy lockdown in major …

[Read more...] about WB lowers forecast for Viet Nam’s 2021 GDP growth to 2-2.5%

Vietnam grasps opportunities to expand agricultural export market Viet Nam's agricultural products are being exported to more than 180 countries and territories, particularly products moving from the mid-range market to the higher-end segment. This information was provided at an online trade connection programme with the participation of representatives and business communities of India and three countries of the Greater Mekong Sub-region (GMS), namely Viet Nam, Thailand and Cambodia on Monday. This formed part of a series of activities of a project to strengthen international integration of small and medium-sized enterprises (SMEs) of India and the GMS countries, towards promoting global value chains and trade between India and the GMS countries, which is financed by the Asian Development Bank (ADB). Le Hoang Tai, Deputy Director of the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade, emphasised that farm produce and food were key exports of Viet Nam. …

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