Investment environment of vietnam

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Tuesday that it is investing up to VND3.5 trillion (US$150 million) in Vietnam's first-ever local currency sustainability-linked bonds (SLBs) issued by BIM Land Joint Stock Company and its subsidiary, Thanh Xuan Joint Stock Company. The first local currency SLBs in Vietnam aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country's low-carbon growth model. IFC's investment comprises two subscriptions—over VND2.3 trillion (about $100 million) to be issued by BIM Land, a tourism and property developer in Vietnam, and nearly VND1.2 trillion (about $50 million) to be issued by Thanh Xuan Joint Stock Company. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan valley project in northern Vinh Phuc Province, including an eco-friendly and unique … [Read more...] about IFC invests in Vietnam’s first local currency sustainability bonds

Accelerated government spending is expected to boost demand in the remaining months of the year. ADB’s Principal Country Economist Nguyen Ba Hung shared his thoughts on Vietnam’s economic performance and its prospects for 2023 with The Hanoi Times. ADB’s Principal Country Economist Nguyen Ba Hung. What is the primary obstacle confronting Vietnam's economy for the remainder of the year? In the first half of 2023, Vietnam experienced a slowdown in GDP growth, with growth projected at only 3.7% compared to the positive momentum seen last year, when GDP grew 6.5% in the first half and 9.5% in the second half, resulting in an annual growth rate of 8% for the whole of 2022. One factor contributing to GDP growth in recent years has been public investment's sustained and steady growth. However, significant internal challenges have emerged during the Covid-19 pandemic. Vietnam's economy heavily relies on exports and foreign direct investment (FDI) … [Read more...] about Public investment as catalyst for Vietnam’s economic recovery in 2023: ADB

The hi-tech building of the Can Tho University is the most modern of its kind in the Mekong Delta. It is part of the Can Tho University upgrading project, funded through ODA of the Japanese Government. (Photo: VNA) Tokyo (VNA) – Friendship and mutual trust based on people-to-people exchanges nurtured for many years have formed an impetus for the Vietnam - Japan relations , said Japanese Minister for Foreign Affairs Kamikawa Yoko. She made the remark in a recent interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the two countries’ diplomatic ties (September 21, 1973 - 2023). She said that over the last 50 years, the countries have developed relations in all fields thanks to tireless efforts by predecessors. One of the most important milestones of bilateral ties, which are now in their prime, was the elevation of relations to the “ extensive strategic partnership ” in 2014. Since then, Japan and Vietnam have been building … [Read more...] about Friendship, mutual trust drive Vietnam-Japan relations: Japanese Foreign Minister

Speaking before the opening he said a key item in the recent Vietnam-U.S. Comprehensive Strategic Partnership is to promote bilateral economic relations, trade and investments. Citing the growing political relations, he called on U.S. firms to invest in priority areas in Vietnam such as startups, innovation, science and technology, education and training, digitization, green transformation, the circular and sharing economies, and energy transition. Meeting with executives of Nasdaq and Nasdaq-listed firms for more than an hour, he fielded their questions on science and technology development, preferential policies for investment in Vietnam, tourism, newly expanding fields, tax incentives, and others. Vietnamese Prime Minister Pham Minh Chinh ring the bell at Nasdaq, Sept. 22, 2023. Photo by VnExpress/Nhat Bac He promised them that Vietnam would create optimal conditions for investors by strengthening its institutions, mechanisms and policies, developing modern … [Read more...] about PM solicits investment during Nasdaq visit

Vietnam and the U.S. have announced their intention to bolster cooperation in the fields of science, technology, digital innovation, semiconductor manufacturing, and chip production, creating ample opportunities for Vietnamese tech firms to establish a strong presence in global supply chains. This cooperation is poised to present significant opportunities for the development of Vietnam’s domestic semiconductor sector, Vo Xuan Hoai, deputy director of the Vietnam National Innovation Center (NIC), said in an interview with Tuoi Tre (Youth) newspaper. The NIC has inked numerous memoranda of understanding with U.S. partners during Vietnamese Prime Minister Pham Minh Chinh’s ongoing week-long visit to the U.S. for the high-level General Debate of the 78th United Nations General Assembly. Vietnam has identified science, technology, and innovation as the driving forces for its development. Consequently, collaboration with the U.S. is expected to hasten the transformation of Vietnam’s … [Read more...] about Cooperation with US to propel development of Vietnam’s semiconductor industry: expert

Several enterprises from South Korea and Japan were granted investment certificates on Friday to develop FDI projects at industrial parks in the northern port city of Hai Phong, with a total pledged capital reaching nearly US$1.4 billion. The investment certificate handover ceremony was attended by Le Tien Chau, secretary of the municipal Party Committee. The Hai Phong Economic Zone Management Board presented an investment certificate to Ecovane, a subsidiary of the South Korean chemicals maker SKC, to develop a hi-tech biodegradable material factory project worth $500 million. Other key projects receiving the certificates at the event included a BW ready-built factory worth $60 million and a $40-million auto parts manufacturing plant by China’s CCTY Bearing Company. Besides, Japan's Kyocera Document Solutions Inc was approved to pour an additional $237.5 million into its machine and equipment manufacturing plant project, raising the project’s total investment to $425 million. … [Read more...] about Vietnam’s Hai Phong City attracts extra $1.4 billion in foreign investment

At the seminar co-hosted by the IFC and the State Bank of Vietnam (Photo: VNA) Hanoi (VNA) – The International Finance Corporation (IFC) estimates that Vietnam's climate investment opportunities will reach up to 757 billion USD by 2030, focusing on renewable energy, green construction, energy efficiency and transportation, said IFC's Regional Director for the Asia-Pacific Financial Institutions Group Allen Forlemu. During a seminar co-hosted by the IFC and the State Bank of Vietnam (SBV) in Hanoi on September 21, Forlemu said changing the way banks operate and transitioning towards sustainability is absolutely essential. According to him, climate change response is the cornerstone of the World Bank Group's strategic approach. IFC works with financial institutions, banks, businesses, and other development partners to provide financing for critical investment needs in climate change adaptation and mitigation. These essential funding efforts aim to promote a more sustainable … [Read more...] about IFC: Climate investment opportunities in Vietnam to amount to 757 billion USD by 2030

The conference aims to help businesses of the central province of Vietnam and Japan meet, exchange and explore investment cooperative opportunities in the future. (Photo: VNA) Tokyo (VNA) – The central province of Quang Binh is active and open to investors and commits to accompany and create the most favourable conditions in order to turn investor ideas and its development goals into reality, an official has said. Japan External Trade Organisation (JETRO) and ASEAN Centre, the event aimed to help businesses of the central province of Vietnam and Japan meet, exchange and explore investment cooperative opportunities in the future. investment licensing procedures and allow Erex to enjoy preferential import and investment taxes because the company will transport many machinery and equipment to Vietnam. He also expects the Vietnamese government to consider adjusting electricity purchasing prices, adding that this will help Erex reinvest in projects. Speaking at the … [Read more...] about Quang Binh province promotes investment in Japan

Electronic accessories poduction at Bumjim Electronics Vina's factory (Photo: VNA) Hanoi (VNA) – Experts have called for policies to support investment in high technology , which they said will help Vietnam grasp the opportunities in luring foreign direct investment (FDI) and at the same time avoid becoming the venue of low-quality and small-scale projects. Vietnam and the US have lifted up their relations to a comprehensive strategic partnership, which is an ideal condition for Vietnam to take advantage of the US’s friend-shoring strategy , thus achieving high economic growth and comprehensive development towards the goal of becoming a high-income country in 2045, according to economist Dr. Huynh The Du. In reality, many US firms have taken specific actions to realise the strategy, including Apple , which has chosen India and Vietnam as their new production hubs. However, according to experts, Vietnam should design investment support policies immediately to … [Read more...] about Support policy for high-tech investment hitting two targets: Insiders

Vietnam is focusing on renewable energy (Photo: baochinhphu.vn) Hanoi (VNA) – To implement the Political Declaration on establishing the Just Energy Transition Partnership (JETP), Vietnam is drafting a JETP Resource Mobilisation Plan (RMP). The plan will provide a list of priority projects for implementation in the 2024 - 2030 period along with a set of project selection criteria and necessary policy actions. The Ministry of Natural Resources and Environment has coordinated with relevant ministries and agencies to consult the Prime Minister, head of the COP26 Steering Committee, on establishing a secretariat to implement the Political Declaration , and JETP implementation support groups. One of the main tasks of the Secretariat is to build and implement the RMP for at least the next five years. Through the Political Declaration, adopted by Vietnam and the G7 and non-G7 countries last year, partners have committed to mobilising an initial amount of 15.5 billion … [Read more...] about Vietnam continues completing JETP resource mobilisation plan