Korea trade investment promotion agency

Production recovery An increasing number of multinational corporations are raising capital and/or moving production to Vietnam. Data from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed that by the end of June 2022, the capital of newly registered projects, increases in the capital of ongoing projects and capital contribution and stock purchases by foreign investors totaled over US$14.03 billion, equivalent to 91.1 percent over the same period in 2021. Foreign direct investment (FDI) projects were estimated to have disbursed US$10.06 billion, an increase of 8.9 percent compared to the same period in 2021. Foreign enterprises are interested in high-tech manufacturing in Vietnam RSM Vietnam Chair Le Khanh Lam said foreign investment has always been the main driving force for Vietnam’s economic growth. Despite the impact of the COVID-19 pandemic over the past two years, Vietnam is regaining its growth momentum, with the … [Read more...] about Vietnam draws increased foreign investment

On August 12, the Danang People's Committee in collaboration with State Committee for Overseas Vietnamese Affairs (SCOV) held a seminar in Ho Chi Minh City to introduce Danang’s investment climate. The event attracted overseas Vietnamese to participate online from 19 countries and territories including the United States, Canada, Japan, South Korea, China, Taiwan, Australia, Germany, Russia, Poland, Slovakia, England, France, Italy, Belgium, Switzerland, Hungary, Thailand, and Mongolia. The event also saw the participation of 100 enterprises run by Vietnamese abroad. At the seminar, Do Thi Quynh Tram, deputy director of the Investment Promotion and Support Department shared a report about Danang’s strategies for development and called for investment in the city. The report covers preferential policies as well as projects calling for investment in the fields of high-tech industry, IT, supporting industries, and industrial park infrastructure construction. She also … [Read more...] about Overseas Vietnamese strengthen Danang’s investment climate

Cultural industry development will be based on the principle of ensuring harmony between preservation and development (Photo: VNA) Hanoi (VNA) - The Hanoi municipal Party Committee has issued a Resolution on "Developing the cultural industry in the capital in 2021-2025, with orientations to 2030 and a vision to 2045,” to promote the development of Hanoi’s culture and people in a sustainable way and meet international integration’s requirement . Culture contributes to GDP growth Secretary of the Hanoi Party Committee Dinh Tien Dung said that the Hanoi Party Committee determines that the development of the cultural industry will be based on the development of Vietnam ese culture and people in general and the capital city in particular. This will maximise cultural and human resource s, creating endogenous strength - an important driving force - for the sustainable development of the capital. Developing the cultural industry is a priority of the socio-economic … [Read more...] about Cultural industry to be source of sustainable development in Hanoi

Photo: Digital platforms connect people and at the same time raise public awareness of cultural aspects of Vietnam that are not widely known (Photo courtesy of artist Nguyen The Son) Hanoi (VNA) - New investment models will be key to create opportunities for the development of Vietnam’s culture and creative industries in the international market . In recent times, the digitalisation of cultural works in Vietnam has seen a positive change, especially since COVID-19 grounded the economy to a halt and put more people online. Prof. Julia Gaimster, head of Communication and Design at RMIT University, affirmed that it is a major achievement after the five-year implementation plan put in place for the Prime Minister’s cultural industry development strategy. The increase of digital cultural content may further attract audiences at home and abroad, promoting images of Vietnamese contemporary culture to international friends around the world. Setting up digital culture … [Read more...] about Partnerships needed to optimise Vietnam’s cultural industry potential

Digital platforms enable greater connection with diverse audiences and higher awareness of less-known aspects of culture. (Photo: Artist Nguyen The Son) New investment models for the cultural arts will be the key to open up development opportunities for Vietnam’s creative industry in the international market. Cooperation needed to create inspiration sources In recent years, after the COVID-19 pandemic broke out, the digitization of cultural and artistic works in Vietnam has made a lot of progress. Professor Julia Gaimster, Dean of the Faculty of Communication and Design, RMIT University, hailed that as an outstanding achievement after five years of implementing the Prime Minister's Strategy for Cultural Industry Development. The substantial inclusion of digital cultural content can help attract domestic audiences and introduce contemporary images of Vietnamese culture to international audiences. Building a digital culture In 2019, Hanoi people were surprised to see on … [Read more...] about Cultural industry renewable and vibrant under digital plan

The approval of Vietnam’s circular economy development plan, announced in June, aims to help reduce greenhouse gas emissions by 15 per cent of GDP by 2030 (as compared to 2014). The commitment at COP26 by Vietnam to achieve net-zero carbon emissions by 2050 is considered the main call for investment into green technologies and friendly-environmental projects, as well as approval of plans such as the aforementioned circular economy one. These messages have sent a strong signal regarding the country’s direction towards low-carbon, green development, and a circular economy, and could be a new driving force for Vietnam’s sustainable socioeconomic development, helping to improve its competitiveness and foreign direct investment (FDI) into the country. While governments have committed to lowering CO2, companies are also following suit for the good of the planet, Photo: Shutterstock As a result, numerous groups have made decisions in terms of investment and other operations … [Read more...] about Green standards top policies for fresh foreign ventures

Workers checking a roof top solar system. — VNA/VNS Photo As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Việt Nam needs assistance from developed countries regarding both financial and technical issues. To detail the national green growth strategy, the Prime Minister on July 22 approved the national action plan on green growth for 2021-2030 with four important goals. The goals are to reduce greenhouse gas emissions per GDP, to green economic sectors, to green lifestyles and promote sustainable consumption, and to green the transition on the principles of equality, inclusion, and resilience. Speaking at the conference on the impact of COP26 on the energy transition towards green growth launched on Wednesday, Nguyễn Thị Bích Ngọc, deputy minister of the Ministry of Planning and Investment, said that resources are the biggest problem in realising the goals of the energy … [Read more...] about Viet Nam needs extra $368 billion to achieve net zero emissions

ADB experts at the press conference (Photo: Vietnam+) Hanoi (VNA) - ADB experts forecast that Vietnam's economy could recover at 6.5 percent this year and grow stronger at 6.7 percent in 2023, due to high vaccination rates and the implementation of expansionary fiscal policies. On April 6, the Asian Development Bank (ADB) released the Asian Development Outlook Report (ADO 2022), which stated that the Vietnamese economy is ready for a strong recovery in the context of global economy instability. GDP reaches a high level ADB experts forecast that Vietnam's economy could recover at a rate of 6.5 percent this year and grow stronger at 6.7 percent in 2023 due to high vaccination rates, trade promotion and continued implementation of expansionary fiscal and monetary policies. Andrew Jeffries, ADB Country Director for Vietnam, said that high vaccination rates have allowed the Vietnamese Government to lift strict pandemic containment measures. The timely shift in pandemic … [Read more...] about Vietnam’s economy recovers strongly amid global instability: ADB

With expertise and advanced technology, Danish firms are expected to develop Vietnam's agri-food industry for high efficiency and sustainability. A delegation of 13 leading Danish agri-food firms in Solutions for Livestock & Food Production, Food Processing Technologies, Ingredients and Climate Control Solutions is giving expertise to Vietnamese partners Representatives of Danish companies attend the seminar held in Hanoi on August 17. Photos: Embassy of Denmark in Hanoi The delegation, which works in areas important for improving agri-food production towards high efficiency, green, and sustainability, expects to share experiences and introduce world-leading and well-proven Danish solutions in agri-food production and look for opportunities to cooperate with Vietnamese companies. The expertise was shared at during Seminar – Business Matchmaking held in Hanoi and Ho Chi Minh City on August 16-19. The events are part of a joint effort between the Embassy … [Read more...] about Denmark extends agri-food expertise to Vietnam