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Lao Minister of Planning and Investment Khamjane Vongxa (Photo: VNA) Vientiane (VNA) - Results of cooperation between the Ministries of Planning and Investment, as well as the Cooperation Committees of Laos and Vietnam in recent years have made important contributions to the development of the two countries’ relations, Lao Minister of Planning and Investment Khamjane Vongxa said on May 13. In an interview granted to the media of both countries, Minister Khamjane stated that 2022 is a year of great historical significance when the Lao Party, army and people are coordinating with the Vietnamese sides in carrying out many practical activities to celebrate the Laos-Vietnam Friendship and Solidarity Year marking 60 years of the establishment of diplomatic relations and 45 years of the signing of the Treaty on Amity and Cooperation between the two countries. In 2021, despite complicated developments of the regional and world situations, the bilateral great friendship, special … [Read more...] about Cooperation in planning, investment helps boost Laos-Vietnam ties: Lao minister

At a Saturday conference in Harvard University on Vietnam's development strategy in the 21st century, Prime Minister Pham Minh Chinh said Vietnam's economy has expanded into the fourth largest economy in ASEAN and among the world's top 12 economies with the largest scale of commerce. The country also takes part in 15 active FTAs, he said. Economist David Dapic said Vietnam taking part in FTAs was a major success. Millions of farmers have moved on to work in factories as a result. But the fact that most materials for production are imported from China is a weakness, he added. When the Covid-19 pandemic broke out, borders were closed and there was commercial tension, Vietnam's exports were affected, Dapic said. Vietnam's trade turnover with the U.S. may reach $100 billion this year. Such a figure might be small for the U.S., but Vietnam should take note to remain in constant communication and avoid being accused of currency manipulation, he advised. Nguyen Thi Hong, head of the … [Read more...] about Avoid unworthwhile investments, try estate taxes, Vietnam advised

The investment registration certificate is a major enabler for the establishment of the Son My LNG terminal project company. The terminal will have an installed capacity of 450 trillion British thermal unit (TBtu) and represents a total investment of about $1.4 billion. "This is an important milestone for the development of the Son My LNG terminal project, which will supply liquified natural gas (LNG) to southern Vietnam and play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG," said David Stone, president of AES Vietnam. Representatives of AES (L) and PetroVietnam Gas Joint Stock Company (R) were granted an Investment Registration Certificate for the Son My LNG terminal project. Photo by PV Gas The Son My LNG terminal complements AES’s project in the Son My 2 Combined Cycle Gas Turbine (CCGT) power plant. Together, the plant and the terminal affirm AES’s commitment to Vietnam’s economic growth and energy transition … [Read more...] about PV Gas, US firm get investment registration certificate for Son My LNG terminal

Meeting with CEO of Warburg Pincus Charles Kaye, Prime Minister Pham applauded the effective operation and contribution of the fund in the fight against COVID-19 in Viet Nam. Viet Nam became the third investment destination of Warburg Pincus after China and India. Since 2013, Warburg Pincus has poured nearly US$ 2 billion in leading Vietnamese groups and companies, namely Vingroup, VinaCapital, Techcombank, Becamex, and MoMo. Prime Minister Pham Minh Chinh shakes hands with CEO of Warburg Pincus Charles Kaye, New York, May 15, 2022 - Photo: VGP The Prime Minister said that the Vietnamese Government stands ready to hold dialogue with enterprises so as to help them operate successfully in the country, which shows the mutual trust, sincerity, sense of responsibility, and win-win cooperation. He asked American enterprises, including Warburg Pincus, to fully implement their commitments and directly liaise with relevant ministries and sectors of Viet Nam to expand … [Read more...] about PM urges big funds to expand investment in Vietnam

Prime Minister Pham Minh Chinh (right) had a meeting with Joseph Bae, Co-Chief Executive Officer of the private equity firm Kohlberg Kravis Roberts in New York on May 16. — VNA/VNS Photo Duong Giang Prime Minister Pham Minh Chinh met with leaders of global investment firm Kohlberg Kravis Roberts (KKR) and Visa Group in New York and held phone talks with the Deputy Managing Director of the International Monetary Fund (IMF) during his trip to the US. At a meeting with Joseph Bae, Co-Chief Executive Officer of KKR, on May 16 (US time), the PM asked the firm to share its experience and offer proposals to Viet Nam. Joseph Bae expressed KKR's wish to expand its operation in real estate, infrastructure, digital transformation, food, consumer goods and technology in Viet Nam, noting that the firm had invested more than US$1 billion in three Vietnamese companies. Viet Nam is an attractive market for investors with incentives rolled out by the Government, along with its favourable … [Read more...] about PM meets leaders of investment firm Kohlberg Kravis Roberts, Visa Group in New York

At the event (Source: VNA) Taking into account Austrian firms’ opinions, the city official stated that their concerns are also what the city is working to address and their recommended solutions should soon be studied for real-life implementation. Highlighting challenges facing the city in waste and wastewater treatment, Hoan hoped that Austrian enterprises with interest in the field to offer consultations and transfer technologies to the city, and invest in building treatment plans here. He said the firms can also share their experience and directly participate in the city’s smart city development projects. For his part, Austrian Ambassador to Vietnam Hans-Peter Glanzer, who led the delegation, said the delegation, the first from his country to Vietnam after two years of hiatus due to the Covid-19 pandemic, looks to seek collaboration chances with the city and southern localities in green infrastructure development. The diplomat said as both nations are stepping up the … [Read more...] about HCMC wishes to see more investment activities from Austrian firms: official

AEON Mall – an enterprise specialising in large shopping and retail centres – is operating six projects in Vietnam, including two commercial centres in Hanoi's Long Bien and Ha Dong districts In a recent meeting with Secretary of Hanoi Party Committee Dinh Tien Dung, Tetsuyuki said that by 2025, AEON Mall has a policy of implementing 16 more projects in Vietnam, including up to four projects in Hanoi. According to the general director of AEON Mall Vietnam, its Hoang Mai project is in the final stages of investment preparation. He said the group has fully prepared in terms of funding, human resources, and equipment so that construction can begin immediately after completing the investment procedures. He hopes that Hanoi will continue to support the venture and remove obstacles so that this project can start construction in the third quarter of this year. At the same time, the Japanese businesses also asked the city to support the research and implementation of the AEON Mall … [Read more...] about AEON Mall to invest in more projects in Hanoi

Exness to Sponsor Forbes Investment Conference in Ho Chi Minh City To complement the theme of Smart Money, Forbes has invited an array of financial experts as speakers at their event. Fund managers, digital asset pioneers, analysts, and real estate professionals will be sharing their knowledge and insights with conference participants. Exness will have a prominent presence at the Forbes Investment Conference as an official sponsor. At a dedicated booth, the multi-licensed broker will be showcasing its diverse range of trading products, optimal trading conditions, and global success. "It is very exciting to be sponsoring Forbes Vietnam’s first-ever Investment Conference," commented Dung Thai, Exness Commercial director for Vietnam. "Forbes is the leading media outlet in the financial industry and the event will create a one-of-a-kind environment for us to interact with hundreds of investors." "Stocks and digital assets are two of the investment areas that the conference will … [Read more...] about Exness to sponsor Forbes Investment Conference in Ho Chi Minh City

Deputy PM Vu Duc Dam According to a report of the Ministry of Planning and Investment, the total investment plan of State budget capital in 2022 assigned to ministries and central agencies subject to inspection and urging by Working Group 3 is VND12,019 billion (US$519 million). Up to now, agencies have allocated VND10,796 billion to projects and the remaining amount is VND1,223 billion. The estimated five-month disbursement by ministries and central agencies as of May 31 is about VND464 billion, reaching 3.86 percent of the 2022 plan, lower than the national average of 20.27 percent. At the meeting, leaders of ministries and central agencies said that in order to promote the disbursement of public investment capital, it is necessary to closely coordinate with local administrations in order to accelerate construction progress, site clearance as well as remove obstacles relating to land ownership and increased material prices. At the same time, each unit must actively review … [Read more...] about Disbursement of public investment capital key political task: Deputy PM

Riccardo Verzella Senior associate (left) and Ho Ngoc Diep Legal advisor, D’Andrea & Partners Legal Counsel Some new innovations of the aforesaid regulations are more relevant compared to the previous FDI regime, and certain aspects may be further optimised with the aim of improving the ease of doing business in Vietnam for overseas investors. Market access rules were significantly improved under the amended LoI. Before its implementation, based on the previous law, the allowed business fields for foreign investors were only those expressly referred to in a permitted list as mentioned therein. Nevertheless, Vietnam has switched to the so-called “negative list” approach with the LoI: hence, currently, foreign investors may perform all the business activities not included in the Negative List for Market Access for Foreign Investors without differentiation from domestic investors. This innovation indeed removes uncertainty for foreign investors, widens their business … [Read more...] about Crafting complete enterprise and investment laws