Jetro

At a reception in Hanoi on May 5 for JETRO Chairman Ishiguro Norihiko, Prime Minister Pham Minh Chinh thanked and highly valued JETRO’s practical and effective contributions to promoting trade and investment ties between the two countries. According to the Prime Minister, the Vietnam - Japan extensive strategic partnership has been growing in various areas, with high political trust and closer connections between the two economies and people. Japan has continued to hold the position of Vietnam's top economic partner, the biggest partner in official development assistance (ODA), the second biggest partner in labor, the third largest partner in investment and tourism, and the fourth biggest partner in trade. Japan is also embarking on a new-generation ODA program for Vietnam to help the country recover its economy following the COVID-19 pandemic. As there remains huge room for bilateral economic, trade, and investment cooperation, the government leader suggested Japan and JETRO … [Read more...] about JETRO suggested to help Japanese firms invest more in Vietnam

Hundreds of Government officials, senior economists, international organisations, and the business community discussed at the conference. — Photo courtesy of the organiser Many foreign direct investment (FDI) firms were committed to expanding production in Viet Nam, heard attendees at the conference “Strong Investment Partnerships for a Thriving Viet Nam” held in Ha Noi on Monday. In a speech delivered at the event, Deputy Minister of Planning and Investment Do Thanh Trung said that with open and transparent investment attraction policies and a favourable, stable and constantly improving business environment, Viet Nam has been one of the leading countries and gained many important achievements in attracting foreign investment. “Foreign investors expressed their confidence in the growth potential of the economy and in efforts to improve Viet Nam 's business and investment environment,” Trung said. He added that in responding to a survey of the Japan External Trade Organisation … [Read more...] about FDI firms committed to expand production in Viet Nam

Samsung is an exemplary company that contributes to Vietnam's FDI attraction Many investors, businesses, and organisations have made significant contributions to Vietnam's FDI attraction over the past 35 years, promoting the nation's image in the international community. Thanks to their efforts, the country has earned its status as an attractive investment destination in the region. They have accompanied VIR to provide information on the environment, investment opportunities, and business in Vietnam. As a result, VIR can fulfill its role as a press agency of the Ministry of Planning and Investment and a leading economic media outlet in the country. Within the framework of the conference Strong Investment Partnerships for a Thriving Vietnam, VIR has granted the medals to express its gratitude through the initiative TOGETHER WE THRIVE. Those receiving medals included AHK, AmCham Hanoi, the Dutch Business Association Vietnam, EuroCham, GIZ, ICHAM, INCHAM, Jetro Hanoi, … [Read more...] about VIR honours investors who help make Vietnam an FDI success story

With open policies and a favorable, stable, and increasingly improved business climate, Vietnam is one of the leading countries and has obtained many major achievements in foreign investment attraction, he told a workshop held by the Vietnam Investment Review in Hanoi on May 15. Over the last 35 years, the foreign invested sector has always been considered an important part of the Vietnamese economy and given conditions by the Party and State to develop, cooperate, and compete healthily and fairly with other economic sectors, the deputy minister noted. As of the end of April, Vietnam attracted nearly 446 billion USD in foreign investment, 280 billion USD of which had been disbursed, statistics show. Despite impacts of the COVID-19 pandemic, Vietnam was still among the 20 biggest recipients of foreign investment in 2020 as reported by the U.N. Conference on Trade and Development (UNCTAD). This proves Vietnam’s successes in attracting external resources, Trung said. The foreign … [Read more...] about Foreign invested sector – important growth driver of Vietnam: official

Regional member states of the Regional Comprehensive Economic Partnership (RCEP) have agreed that they should adopt a more holistic approach to building a competitive investment facilitation environment, which will allow them to woo more foreign funding within the bloc and from its five partners of China, Japan, South Korea, Australia, and New Zealand. Wider interest raised through ASEAN deals Under this approach recently debated by regional economic ministers, investment facilitation should incorporate business facilitation and other measures not limited to foreign investment procedures alone. Synergies should be sought between funding facilitation efforts and the activities and tools of authorities other than promotion agencies. Investment facilitation should cover business registration and approvals, licences, and other administrative requirements and processes, and tax-related and social security procedures, for example. Investors will consider the efficiency and … [Read more...] about Wider interest raised through ASEAN deals

In late April, Taiwan-based Quanta Group signed an agreement with Nam Dinh Industrial Park Management Board and Dai Phong Infrastructure Construction JSC to develop a computer manufacturing project in Vietnam’s northern province of Nam Dinh, making it the company’s ninth factory globally. Asian investors leaning towards going greener across Vietnam Chairman of the provincial People’s Committee Pham Dinh Nghi said, “Nam Dinh will create the best possible conditions to support investors in dealing legal procedures during the construction and operation process.” Also late last month, Malaysian group Petmal Oil Holdings proposed an oil refinery in the central province of Phu Yen worth $2 billion and spanning 500 hectares. CEO Dato Paduka Affendi expressed his interest in the initiative. “When the project is put into operation, it will contribute to the provincial budget and create jobs for workers,” he said. The refinery would be aligned with the province’s foreign … [Read more...] about Asian investors leaning towards going greener across Vietnam