Foreign investors

A view of Hanoi from Truc Bach lake (Photo: VNA) Hanoi (VNA) – Hanoi led 59 cities and provinces receiving foreign direct investment (FDI) in the first nine months of this year by luring 6.15 billion USD, or 23.5 percent of the total FDI that Vietnam got in the period. According to the General Statistics Office (GSO), Hanoi was followed by Ho Chi Minh City with 4.52 billion USD, accounting for 17.3 percent of the total FDI. The southern industrial hub of Binh Duong came third with 2.52 billion USD, accounting for 9.6 percent of the total FDI flowed into Vietnam so far this year. The GSO reported that Vietnam attracted 26.16 billion USD in the first nine months of this year, up 3.1 percent over the same period in 2019. Of the figure, 10.97 billion USD was poured into nearly 2,760 new projects, up 26.4 percent in the number of projects and down 22.3 percent in terms of the capital year on year. Approximately 4.79 billion USD was pledged to existing projects, just equivalent to … [Read more...] about Hanoi most attractive to foreign investors in nine months

New foreign investment regulations will have a positive impact on foreign investors in Vietnam for the foreseeable future. Lawyers at Yingke Vietnam, a subsidiary of Yingke Global, have been quite busy helping major foreign clients seeking investment opportunities in Vietnam. Mr. Tony Hieu, Legal Manager at the company, told VET that a mere five months into its practice, the company plans to recruit more highly-specialized employees to meet the increasing workload. “In addition to the move towards relocating production facilities to Vietnam, the country has also been active in signing bilateral and multilateral trade agreements in recent times that made its business environment more attractive to many foreign investors,” he explained.  Thirty-three China-based manufacturers have moved to Vietnam since June, preferring the country over Indonesia. Trade tensions affect export-oriented manufacturing sectors the most, so investors naturally head to places that are also … [Read more...] about Clearing the path for foreign investors in Vietnam

Prime Minister Nguyen Xuan Phuc (centre) poses for a group photo with foreign investors (Photo: VNA)   Hanoi (VNA) – Vietnam will work to maintain macro-economy’s stability and economic growth, while creating optimal conditions for businesses investing in the country, Prime Minister Nguyen Xuan Phuc has pledged. He made the vow while receiving a delegation of foreign businesses who have invested in the country in Hanoi on October 11. The PM highly valued the results of investment activities of partners of VinaCapital, which has 3.3 billion USD worth of assets under its management. He stressed that the country will spare no efforts to address bottlenecks to facilitate firms’ operation, noting Vietnam jumped ten places in the latest Global Competitiveness report of the World Economic Forum, marking the strongest rise in this year’s global ranking. The PM added that Vietnam wants to attract quality investment and investment in energy development to meet … [Read more...] about Vietnam creates optimal conditions for foreign investors: PM Phuc

Illustrative image (Source: VNA) Vinh Phuc (VNA) – The northern province of Vinh Phuc has been an ideal destination for investors thanks to its geographical location and preferential policies for investment attraction. Over the years, Vinh Phuc has been focusing on luring foreign direct investment (FDI), and this year the province has been sending delegations overseas to promote investment. In September this year, the locality coordinated with the Vietnamese embassies in the Netherlands and the US to organise seminars introducing investment and cooperation opportunities in Vinh Phuc. As of July this year, Vinh Phuc had drawn 362 FDI projects from 17 countries and territories with a total investment of over 4.8 billion USD, ranking 19th out of the 63 localities nationwide in FDI attraction. Currently, the province is home to two US-funded projects in the processing-manufacturing sector with a combined capital of 15.6 million USD. The province is calling for more investment to … [Read more...] about Vinh Phuc: ideal destination for foreign investors

A motorbike driver rides on the Bac Giang - Lang Son Expressway which was invested by a Vietnamese company. Photo by VnExpress/Giang Huy. But first they will have to take part in a qualifying round next month before they can bid for the work. Nguyen Danh Huy, director of the Ministry of Transport’s public-private partnership department, said local investors still need to have funds equivalent to 20 percent of the project cost, but criteria related to capability and experience are being reviewed to make them less stringent than they were for foreign investors, he told VnExpress. A number of Vietnamese investors had qualified in the recent international evaluation round, but need to be reevaluated for the new tender, he said. His department would seek to speed up tender procedures so that could begin as scheduled. The ministry on Tuesday ruled out foreign investors for the eight sections of the expressway saying only few qualified and this could lead to a … [Read more...] about North-South Expressway bids open only to Vietnamese investors