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At the Japanese-funded NMS Vietnam Co., Ltd. (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Tran Luu Quang has freshly signed a decision to approve an action plan for implementing the 2021-2030 national foreign investment cooperation strategy. As per the plan, the Ministry of Planning and Investment (MoPI) is assigned to submit to competent authorities a draft revised law on bidding within the 2022-2023 period; and the Ministry of Finance a governmental decree amending and supplementing Decree 08/2015/ND-CP concerning the implementation of the customs law in 2023. The Ministry of Industry and Trade, meanwhile, is responsible for drafting the Prime Minister's Decision on building a supporting industry development programme for 2026-2030, which should be submitted to authorised agencies by 2025. Reports by agencies and localities involved on the implementation of the strategy are set to be sent to the MoPI before October 30 annually. The decade-long strategy aims to … [Read more...] about Action plan approved to implement foreign investment cooperation strategy

The market in new urban areas is set to become more active Photo: Le Toan March has seen a flurry of activity in welcoming quality real estate products in Vietnam. Singaporean group CapitaLand Development, saw all of [email protected] West Lake booked up after being introduced to the market on March 19. The Elysian project developed by Gamuda Land is also reportedly being well observed by buyers due to the prestige of the developer, the good location, and high quality of the project. Domestic groups are also joining the rush. Nam Long Investment JSC said that the business is implementing a series of plans in 2023, in which priority is being given to ventures in large urban areas such as Waterpoint, Mizuki Park, Nam Long Can Tho, Nam Long Dai Phuoc, Akari City, and Izumi City. Meanwhile, Hung Thinh Land introduced the 9X An Suong project in the northwest of Ho Chi Minh City. In the southern province of Binh Duong, Phu Dong Group is about to open for sale an apartment project … [Read more...] about Positive real estate signs march ahead

The CEO and Regional Head, Client Coverage, Americas, Standard Chartered, shared his view on Vietnam's significance for US businesses and why Vietnam is potential for foreign investors. Vietnam has gone from being a frontier economy in ASEAN to a flourishing, cost-effective industrial nation. Firms and investors looking for new markets to grow, source, or manufacture their products – especially in Asia – should consider Vietnam’s long-term potential and stay updated on its opportunities. Steven Cranwell, CEO and Regional Head, Client Coverage, Americas, Standard Chartered. Photo: Standard Chartered In recent years, Vietnam has benefited from the trade tensions between the US and China. With US companies adopting a ‘China plus one’ approach to their supply chains, the percentage of exports from Vietnam to the US has risen by approximately nine percent between 2018 and 2021. It is, however, important to note that Vietnam has been an alternative to China … [Read more...] about The significance of Vietnam for US businesses and why they should take notice: Standard Chartered

The Ministry of Planning and Investment (MPI) is urging a project steering committee to accelerate the transition of traditional industrial parks (IPs) to an ecological model as part of a nationwide eco-IP intervention initiative. Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said, “The project has contributed to the replication of the eco-IP model in Vietnam, in line with the National Green Growth Strategy for 2021-2030, Vietnam’s commitment to the United Nations’ Sustainable Development Goals, and the net-zero emissions commitment to 2050.” Private sector urged to enter eco-IP arena, illustration photo. Developing eco-IPs is inevitable as many countries are applying the carbon tax mechanism on imported goods, the deputy minister added. “Meanwhile, many tenants in IPs are manufacturers for export, and they need a green certificate to export products. Thus, relevant parties continue to spread technical and financial support to many IPs at different … [Read more...] about Private sector urged to enter eco-IP arena

Nalin Wickramasingher, Powerledger's BD and Sales Executive, and Le Thi Phuong Cam (L), EVNCPC's Deputy General Director, announced the partnership. (Photo courtesy of Powerledger) Hanoi (VNS/VNA) - Australian energy trading technology company, Powerledger, on March 28 announced it’s partnering with Vietnam Electricity Central Power Corporation (EVNCPC) to launch Vietnam's first peer-to-peer (P2P) energy trading project at the Australia-Vietnam Forum on Energy Transition. The initial 6-month trial will see Powerledger’s technology used by so-called “prosumers” with rooftop solar in central Da Nang city and Quang Nam province to sell electricity directly to consumers. “This project is a major step for Vietnam. It will showcase how, with the right technology, issues of intermittency and grid congestion can be overcome whilst still growing renewables. Everyone on both sides of the partnership is looking forward to the results,” said Powerledger Chairman Dr Jemma Green. … [Read more...] about Vietnam’s first blockchain peer-to-peer energy trading project launched

A corner of Hai Phong (Photo: haiphong.gov.vn) Hai Phong (VNA) – The northern port city of Hai Phong continued ranking among the top localities in attracting foreign direct investment (FDI) in the first quarter of 2023. As of March 22, the city had lured 385.08 million USD in FDI, equal to 78.89% of the figure in the same period last year, and 17.91% of the yearly plan. To date, industrial and economic parks in Hai Phong have attracted 468 FDI projects totaling 23.3 billion USD, and 202 domestic-invested projects with combined capital of 296.59 trillion VND (12.6 billion USD). These figures are the results of continuous efforts and drastic actions by the city’s leaders, as well as relevant sectors and units, particularly the Hai Phong Economic Zone Authority (HEZA). Dialogues with investors and contractors have been held regularly by the authority to help them deal with difficulties and obstacles in production and business activities and to strengthen security and … [Read more...] about Hai Phong ranks among top localities in FDI attraction

Hanoi city has applied innovations which help improve productivity and products’ quality as well as assist businesses in developing intellectual property assets. Science and technology activities of Hanoi have made important contributions to the city’s politics-security as well as socio-economic and cultural development. Workers at Hanwha Aero Engines factory in Hanoi, the first large-scale aircraft engine parts and components manufacturing facility in Vietnam. Photo hanoimoi.com.vn In the 2015-20 term, the department has implemented socio-economic growth programmes and plans along with the Central Party Committee’s resolution on science and technology development. It has created an open, favourable, transparent and effective legal environment for science and technology development, he said. According to director Son, since 2015, the city has completed 346 science and technology projects, more than 85 percent of which have been applied in practice, … [Read more...] about Hanoi makes impression in science and technology

Local experts suggest it is necessary to coordinate with employers in the recruitment, organization of training, and retraining of employees to overcome the shortage of qualified workers and contribute to the recovery of production and business activities. Hanoi's authorities will come up with specific solutions to improve the quality of labor and link vocational training with labor market demand, targeting 73.2% of skilled workers by the end of 2023. Submunicipal authorities, experts, and people have shared with Hanoimoi Newspaper the labor market outlook and proposals to address problems related to recruitment and vocational training problems in the city. Local workers are learning sewing skills at the Hanoi Center for Employment Service. Photo: Hanoimoi Newspaper Director of Hanoi Department of Labor - Invalids and Social Affairs Bach Lien Huong : Focus on linking vocational training with enterprises In recent years, vocational training … [Read more...] about Solutions to boost labor quality: Experts

The Department of Construction has launched an invitation for tender on public contracts in sewerage and water treatment equipment and services in 2019. Hanoi’s recent review on rental land and environmental protection at some industrial parks in Hanoi showed that just 21 among a total of 70 industrial parks, or 30%, operating in the city have installed centralized sewerage treatment plants, the Government Portal reported. Of them, nine industrial clusters have water treatment plants built with investors’ private funding and the 12 remaining were installed with public funding in accordance with the decision of the municipal People's Committee. Illustrative photo. The municipal Department of Industry and Trade has drafted a program on supporting technical infrastructure investment in the industrial parks in Hanoi during the period of 2020-2025 through collecting information on industrial parks’ infrastructure in the area. The Department of Construction has … [Read more...] about 30% of industrial parks in Hanoi have centralized wastewater treatment plants

Hanoi’s wastewater treatment site is a key and vital project as it would collect and purify sewage discharged by people in seven districts. Chairman of the municipal People's Committee Nguyen Duc Chung has asked contractors to speed up the construction of Yen Xa wastewater treatment site in Thanh Tri districtto help clean the once iconic To Lich river and better lives of citizens along the river. While making an inspection to the site on February 4, Chung stressed this is a key and vital project of Hanoi as it would collect and purify sewage discharged by people in seven districts, especially waste water from the city’s polluted To Lich river. It is expected to also revive the river. Hanoi Mayor Nguyen Duc Chung discusses with the Project Management Board and the contractor of Yen Xa wastewater treatment site project. Photo: Kinhtedothi.vn In order to accelerate the project, which comprises a centralized sewage treatment facility, as the site stretches … [Read more...] about Hanoi mayor urges speedier construction of wastewater treatment plant