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Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit USD 22-23 billion. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK), Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment destination for investors, he added. Currently, the RoK, Japan and Taiwan (China) are Vietnam’s major sources of foreign investment and they have constantly increased their investments in Southeast Asian countries. According to FIA, essential factors for FDI to continue to prosper in 2023 include economic growth results in 2022 and … [Read more...] about Vietnam’s FDI projected to reap up to USD 38 bln in 2023

Many Vietnamese enterprises achieved success in 2022 after shifting to exports through e-commerce platforms, especially Amazon. The trend is expected to continue this year. Vietnam was among the top five countries with the highest e-commerce retail sale growth rates in 2022, according to a report by the U.S.’s market research company eMarketer. Impressive growth A year after beginning to sell goods on Amazon to European and American markets, ChicnChill, a Vietnamese handicraft brand, reported a growth rate of up to 700 percent. Tran Tuan Dung, CEO of ChicnChill, said he saw the start-up thrive when a majority of Vietnamese enterprises have scaled down their operations due to the impact of the COVID-19 pandemic. He and his team spent months studying the lifestyle in European and American markets and home decoration trends there, thereby determining the company’s key products and penetrating into these markets. After a year, ChicnChill’s home decoration products are … [Read more...] about Vietnamese firms earn big from Amazon

Foreign capital is expected to continue to flow into the stock market as foreign investors' confidence remains strongly.(Photo: VNA) Hanoi (VNS/VNA) - From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year. In 2022, this group net disbursed more than 29.2 trillion VND (1.2 billion USD) to the market, while it has net sold nearly 18.8 trillion VND and set a record net selling value of over 62.2 trillion VND in 2021. In November alone, more than 16 trillion VND in net disbursed cash flow from foreign investors was significantly supported by exchange-traded fund (ETF) capital inflows into the market, primarily from the Fubon ETF and the VNDiamond Index-based ETF. A study by BIDV Securities Company (BSC) analysing over 50 billion USD owned by foreign investors on the Vietnamese stock market showed that more … [Read more...] about Foreign investors remain optimistic about Vietnamese stock market

Working session between representatives from Vietnam Centre for Overseas Labour and Ansan Counseling Centre for Foreign Workers (Photo: VNA) Seoul (VNA) – A working delegation of the Vietnam Centre for Overseas Labour (Colab) had a meeting on January 29 with representatives from the Counseling Centre for Foreign Workers of the Republic of Korea (RoK)’s Ansan city to promote the implementation of support activities for Vietnamese labourers in the RoK. The Vietnamese centre’s Director Dang Huy Hong, who is head of the delegation, thanked the Ansan centre for supporting foreign workers in general and Vietnamese in particular when living and working in the Korean city. He showed his hope that the centre will continue working closely with Vietnamese units to support Vietnamese workers, especially newcomers, to soon adapt to the life in the East Asian nation. Colab delegation posing for a photo with Vietnamese workers in RoK (Photo: VNA) During the working … [Read more...] about Support activities for Vietnamese workers in the RoK implemented

Meta (Facebook) contributed 34.5 million EUR. — Photo thanhnien.vn Foreign suppliers have paid taxes worth VND1.8 trillion (US$76.7 million) via the official portal serving their operations in Viet Nam. Of the sum, Meta (Facebook) contributed 34.5 million EUR, Google $28.8 million, and Apple VND174 billion. The General Department of Taxation’s portal https://etaxvn.gdt.gov.vn/nccnn/Reques was exclusively developed for foreign suppliers and put in place on March 21 last year. So far, it has seen 45 suppliers registering and paying taxes. The General Department of Taxation said that this was a very good signal in the co-ordination of tax declaration and collection between Vietnamese tax authorities and foreign suppliers right from the beginning of the new year. This shows the trust, prestige and serious observance of tax laws by foreign suppliers for e-commerce and digital-based business activities in the territory of Viet Nam. The total tax collected through the … [Read more...] about Foreign suppliers have paid taxes worth $76.7 million via official portal