Japanese local experience pack

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

As part of the draft national Power Development Plan VIII (PDP8), Vietnam plans to generate 7GW offshore wind capacity by 2030, but the lack of an official strategy is hindering progress. At a conference organised by the Central Economic Committee last week, Mark Hutchinson, chairman of the Southeast Asia Task Force, said, “7GW of offshore wind is crucial for Vietnam for its net-zero goal and for the country’s long-term energy security. Our message has been the same for years – a clearly defined route to the market is needed.” He said that offshore wind deployment was in its early stages and the deployment of the country’s 4GW of offshore wind was not driven by a direct auction mechanism but instead arranged at a time when clear policy measures were not in place. Thus, he called for accelerating a large-scale pilot or mechanism that covers a certain volume of the target, to bypass obstacles and fast track wind power. “There are now two main options: an accelerating mechanism such … [Read more...] about No time to waste in building the offshore wind industry

Renato Darsie (R), Chairman of the Italy - Vietnam Friendship Sub-Association in Veneto , presents the right to use the Vietnamese cultural centre to a representative of Vietnamese students in May 2022. (Photo: VNA) Rome (VNA) – With multiple-year experiences, the Italy - Vietnam friendship sub-associations in regions of the European country can make practical contributions to the friendship and cooperation between the two countries by providing information on Vietnam to Italian people and businesses. So said Renato Darsie, Chairman of the Italy - Vietnam Friendship Sub-Association in the Veneto region, in an interview granted to the Vietnam News Agency. He described the 50th anniversary of the diplomatic relationship (March 23, 1973 - 2023) as an important milestone marking the growing friendship and political, economic, and cultural ties between the two countries. Bilateral relations over the last 50 years are those of solidarity and friendship across the board as … [Read more...] about Friendship sub-associations practically help with Italy – Vietnam ties: insider

Is development of high-tech industrial parks (IPs) likely to become a new capital trend in Vietnam? David Jackson, CEO of Colliers Vietnam Industrial and logistics assets are two of the most in-demand real estate areas across Asia-Pacific in 2023. As investors adopt a defensive strategy, sustainability and technology will drive changes in reassessing portfolios, focusing on quality and long-term values such as green certifications, new amenities, costs, and operational efficiency. Different industrial models in Vietnam will thus also be impacted by these factors in the next few years. Yet, it is too early to say whether the investment in and development of high-tech parks will become a new trend. High-tech IPs in Vietnam have not yet reached their full potential due to a lack of attention. There is much to do in terms of removing legal barriers, completing the technology infrastructure, and offering more favourable conditions to encourage investors to join the … [Read more...] about Nation must scoop up benefits of high-tech industrial parks

For the first time, on March 19, a batch of nearly 20 tonnes of fresh sugarcane from the northern province of Hoa Binh left Vietnam heading to the US market, facilitated by the privately held Tien Ngan Trade Investment Co., Ltd. Despite the modest value, the move heralds strong prospects for sugarcane and other agricultural items from Hoa Binh province. Nguyen Le Diep, the company’s director, revealed that it took six months of negotiations to meet the partner’s strict technical standards. Amidst the huge supply, boosting exports has become a crucial task for cement producers Notably, accompanying the fresh sugarcane batch were 10 cane pressing machines, which hints at how the products will be consumed in the foreign market. With a wealth of experience exporting hundreds of tonnes of fresh sugarcane to the EU, South Korea, and lately the US market, Tien Ngan Co., Ltd. is set to export 300-500 tonnes of fresh sugarcane this year. The fresh export shipment came … [Read more...] about Firms gearing up to boost exports