Investing 50k a year

The administration of Binh Duong province, in collaboration with the Vietnamese Consulate General in Sydney and Becamex IDC Corporation, organized an investment promotion seminar in Sydney on May 27. Binh Duong promotes investment opportunities in Australia. (Photo: baobinhduong.vn) In his remarks, Consul General Nguyen Dang Thang introduced to Australian officials and businesses the potential for expanding trade and investment in Vietnam, affirming that the two countries have treasured a close relationship in various fields, including politics, diplomacy, trade and investment. Despite the impact of the COVID-19 pandemic, he said, two-way trade turnover between Vietnam and Australia reached a record high of more than US$12.4 billion in 2021, a year-on-year rise of 49.45%. The first four months of this year alone also saw bilateral trade grow impressively, reaching US$4.8 billion, up 32.37% compared to the same period of last year. With regard to investment, as … [Read more...] about Vietnam seeks Australian investment opportunities in Sydney

The AFD and EU have been actively supporting Vietnam in the areas of climate change mitigation and adaptation. Vietnam will receive financial aid from the EU and the Agence Française de Développement (AFD) to reduce the vulnerability to climate hazards in several towns in four northern and central provinces. The project is jointly co-financed with a EUR5 million (US$5.36 million) grant from the EU, a EUR123 million ($132 million) ODA loan from the AFD, and EUR 28 million ($30 million) from provincial budgets. The principal goal is to help localities adapt to climate change and recover from natural disasters such as flooding, typhoons, and drought. Delegates attend the launching ceremony. Photo: the Embassy of France in Vietnam The regional towns include Phat Diem in the northern province of Ninh Binh, Ngoc Lac in the central province of Thanh Hoa, and Hoang Mai in the central province of Nghe An, Huong Khe, and Thach Ha in the central province of Ha Tinh. … [Read more...] about AFD, EU strengthen urban climate resilience in Vietnam

Both additionally-registered and share purchasing of FDI rose strongly in the first five months According to the Ministry of Planning and Investment's Foreign Investment Agency, Vietnam counted newly-registed FDI inflows of about $11.7 billion in the first five months, equivalent to 83.7 per cent of the previous year's total. Of this, $4.12 billion was poured into 578 newly-licensed projects, a slight decrease of 5.7 per cent in the number of projects, and a sharp reduction of 53.4 per cent in value. $5.61 billion was added to 395 projects currently underway, a rise of 45.4 per cent in value and 15.5 per cent in number. Overseas investors also poured almost $2 billion into just over 1,300 share purchase deals, an increase of 51.6 per cent over the same period last year. FDI disbursement climbed slightly by 7.8 per cent on-year to $7.7 billion. Almost 35,000 valid foreign-invested projects were accumulated across the country with the total registered capital of $426 … [Read more...] about FDI grow strongly in the first five months

AFD will assist the Hanoi government in developing priority programs such as improving air quality, wholesale markets, urban logistics, waste management and treatment, among others. The Agence Française de Développement (AFD) is willing to support Hanoi in transport, urban and environmental projects, Country Director of AFD Fabrice Richy said at a meeting with Chairman of the municipal People's Committee Nguyen Duc Chung in Hanoi on November 25. Fabrice Richy stressed that AFD has maintained a long standing relationship with Hanoi. Under the cooperation agreement, AFD will assist the Hanoi government in developing priority programs such as air quality improvement, wholesale markets, urban logistics, waste management and treatment, among others. Country Director of AFD Fabrice Richy and Chairman of the municipal People's Committee Nguyen Duc Chung. Photo: Thuy Linh The investment program will focus on building smart cities, developing cities sustainable and … [Read more...] about AFD willing to support Hanoi in transport, urban and environment projects

Garment production for export at Kim Dung Textile and Garment Company in District 12, Ho Chi Minh City. (Photo: SGGP) Dependence on imported raw materials Ms. Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said that the total number of enterprises participating in the textile and garment sector in Vietnam, including foreign and domestic enterprises, is more than 7,000. Of which, only 18 percent of them produce fabric materials, 12 percent produce yarn, 2 percent produce other materials, and the rest are garment enterprises. This fact has put the textile industry in front of the challenge of unstable growth due to its dependence on imported raw materials. Currently, each year, Vietnam imports 100 percent of cotton with an estimated value of US$3.2 billion and 60 percent of fabric with an estimated value of $14 billion. The US is the largest cotton and fabric import market of Vietnam, followed by China, Japan, South Korea, and … [Read more...] about Vietnamese textile-garment industry strong but not stable

That is the statement of Le Quoc Thinh, Director of Cuc Phuong Tourism Services Joint Stock Company (Vedana Resort) when introducing events aiming at promoting Cuc Phuong and Ninh Binh tourism after a long period of shutdown due to COVID-19. According to Chairman of Nho Quan district People’s Committee Hoang Khac Tiep, “Nho Quan is endowed with many historical relics and landmarks such as Van Trinh cave, Yen Quang lake, Dong Chuong lake, Cuc Phuong hot mineral water.” In particular, with the natural reserve area and new-stone-age cultural relics, Cuc Phuong National Park has received the title of Asia's leading national park for two consecutive years (2019, 2020) rated by World Travel Awards. It is worth mentioning that Nho Quan has nearly 30,000 ethnic people living in Muong villages. The strategy set by the district is to exploit existing indigenous cultural elements to combine with the trend of ecotourism, which is thriving in Ninh Binh province. Tourists have opportunities to … [Read more...] about Green Tourism – An ideal way to spread Muong ethnic culture

Hanoi, (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. – Senior Party officials of Vietnam and Cuba have agreed that amid the COVID-19 pandemic, regular meetings and exchanges between the two Parties and countries vividly demonstrate their special friendship. Vo Van Thuong, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee held online talks with Roberto Morales Ojeda, Politburo member and permanent member of the Secretariat of the Communist Party of Cuba (PCC) Central Committee on May 26. Read full story - Asia needs to play a greater role in maintaining and fostering a peaceful and stable environment conducive to development and prosperity in the region and beyond, on the shared basis of cooperation, understanding, trust and responsibility, Standing Deputy Prime Minister Pham Binh Minh has said. Minh made the suggestion while delivering his remarks at the 27th … [Read more...] about ☀ Morning digest on May 27

S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P

The conference was held via videoconference on May 26 (Photo: VNA) Hanoi (VNA) - Assistant Minister of Foreign Affairs Do Hung Viet and Israel Ministry of Foreign Affairs’ Political Director Alon Bar co-chaired the fourth political consultation conference between the two ministries via videoconference on May 26. Viet and Bar briefed each other on the political and socio-economic situation in their respective countries, and highly valued the positive progresses in the all-round cooperation between Vietnam and Israel over the years, especially in politics, diplomacy, economy, science-technology, and startup. Viet welcomed the organisation of the fourth consultation conference, describing it as an effective mechanism for reviewing and enhancing the effectiveness of the cooperation between the two countries. He affirmed that Vietnam highly values and hopes to promote multifaceted ties with Israel , and thanked the Israeli Government and businesses for assisting … [Read more...] about Vietnam, Israel convene fourth political consultation

HÀ NỘI — The Australian-funded Gender Responsive Equitable Agriculture and Tourism (GREAT) programme hosted a symposium, Engaging Women in Markets – Scaling up Local Successes Nationwide, in Hà Nội on Friday. Throughout the day, the GREAT programme team and Government of Việt Nam representatives discussed evidence and lessons learned from the GREAT Programme that can help inform Việt Nam’s National Target Programmes (NTPs) implementation. The NTPs and GREAT both aspire to stronger socio-economic opportunities in Việt Nam’s northwest region, particularly for the ethnic communities that call the region home. Australian Ambassador Robyn Mudie talks to a successful woman joining the project in Sơn La Province at the symposium. Photo Phạm Huy GREAT is Australia’s most significant gender investment in Việt Nam, totalling AU$33.7 million (US$24.1 million). The programme works with businesses, NGOs, government and civil society partners to build more inclusive business and market … [Read more...] about Australia and Việt Nam work together on gender equality for stronger economies