The province is inviting more FDI in high-tech projects in support industries, such as manufacturing of parts, components, materials and accessories for the mechanical engineering, electronics and informatics industry. The province is inviting moreforeign direct investment (FDI) in high-tech projects in support industries,such as manufacturing of parts, components, materials and accessories for themechanical engineering, electronics and informatics industry. The province will prioritizeprojects in logistics, infrastructure, auto-making, information technology andmanufacturing of materials and accessories for clothing and footwear industriesand new materials. It will also call for investment inprojects that produce clean, high-yielding crops and agricultural products orthose that apply biotechnologies and those in food processing and herbal medicines The province’s People’s Committeewill continue working with enterprises to support their development. At thesame time, … [Read more...] about Dong Nai calls for high-tech, environmentally-friendly FDI projects
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Hai Phong outlines measures for FDI attraction
At Bridgestone Corporation's tire manufacturing plant (Source: VNA)Hai Phong (VNA) – Measures to help the northern port city of Hai Phong to attractforeign direct investment (FDI) in 2018 were discussed during a recent meetingof the municipal People’s Council . According to Secretary of the municipal Party Committee Le Van Thanh, apartfrom promoting administrative reform and improving Hai Phong’s investmentclimate, the city will also focus on upgrading and developing infrastructure facilities. He said priority willbe given to investment promotion, high-quality human resources training,project management and supervision, towards attracting more foreign investors,especially multi-national economic groups from Japan, the Republic of Korea andBelgium. Land clearance will be a focus for the city in 2018, especially in industrialparks (IPs), making it easier for foreign investors to run their projects inthe city, he added.The meeting heard that Hai Phong didn’t … [Read more...] about Hai Phong outlines measures for FDI attraction
Take advantage of FDI, don’t rely on it
We have been through more than 30 years of Doi moi (Renewal) and it almost as many years since the Law on Foreign Direct Investment (FDI) was issued. Since then, the FDI sector has affirmed the major role it plays in the Vietnamese economy.Statistics from the Ministry of Planning and Investment (MPI) show that from pledged and disbursed FDI of US$1.56 billion and $262.5 million, respectively, in the 1988-1990 period, the 30th anniversary of the FDI law in 2017 saw the figures hit record highs of $35.88 billion and $17.5 billion. The FDI sector has contributed 20 per cent to GDP growth, 50 per cent to industrial output, 70 per cent to export turnover, and created 13 million direct and indirect jobs. The Government’s affirmation that the success of FDI is also the success of Viet Nam is testament to the importance the sector is accorded. However, this success has been accompanied by a growing concern that the Vietnamese economy relies too much on … [Read more...] about Take advantage of FDI, don’t rely on it
Newly and additionally registered capital of FDI up 45%
The Hanoitimes - According to the Foreign Investment Agency of the Ministry of Planning & Investment, as of December 20, Vietnam has 2,591 newly approved projects with total registered capital of 21.27 billion USD, up 42.3% compared to the last year’s figure. There are 1,188 projects with additional registered capital amounting to 8.51 billion USD, up 49.2% compared to the same period of 2016 and 5,002 times of share purchasing of 6.19 billion USD, up 45.1% compared to 2016. In overall of the 12 months of 2017, total value of newly, additionally registered capital, capital contributed and shares bought by foreign investors of 35.88 billion USD, up 44.4% compared to the same period of 2016. In 2017, disbursement rate of FDI in Vietnam reached 17.5 billion USD, up 10.8% compared to the same period of last year. Foreign investors have invested in 19 out of 21 fields of the economy, in which the industrial manufacturing and processing contributed the highest rate with 186.1 … [Read more...] about Newly and additionally registered capital of FDI up 45%
Vietnam Attracts Nearly US$35.9 Billion in FDI in 2017
Statistics released by the Department of Foreign Investment, under the Ministry of Planning and Investment, revealed that Vietnam attracted nearly US$35.9 billion in foreign direct investment (FDI) in 2017. By December 20, there were 2,591 newly licensed projects with the total registered capital reaching US$21.27 billion, a 42.3 per cent increase compared to the same period last year. In addition, 1,188 existing projects were also granted additional capital reaching US$8.41 billion, an annual increase of 49.2 per cent. The processing industry and manufacturing sector continued to attract the largest FDI with registered capital worth US$15.87 billion, accounting for 44.2 per cent of the total registered capital. Of which, there were 955 new projects and 517 projects which were granted additional capital. Manufacturing and the distribution of electricity ranked second with over US$8.37 billion in FDI, accounting for 23.3 per cent, followed by real estate with registered capital … [Read more...] about Vietnam Attracts Nearly US$35.9 Billion in FDI in 2017