Laos foreign direct investment

As much as 755.75 million USD in FDI was poured into Hai Phong city in the first half of this year. (Photo: VNA) Hanoi (VNA) – The northern city of Hai Phong has attracted 755.75 million USD in foreign direct investment (FDI) to local industrial parks (IPs) and economic zones (EZs) in the first half of 2022, raising total FDI there to 22.07 billion USD. According to the Hai Phong EZ Authority, the amount was channelled into 21 new FDI projects and 18 existing ones. It is equivalent to 56.2% of the FDI registered in the same period last year. At present, IPs and EZs in the city are home to 438 FDI projects worth 22.07 billion USD in total and 195 domestic investment projects worth 12.57 billion USD. Head of the authority Le Trung Kien said from now to 2025, the 15 IPs in the city will be expanded to 6,418ha from the current 6,074ha. The latest of them is Tien Thanh IP, for which an infrastructure construction and business project recently received an … [Read more...] about Hai Phong attracts more foreign direct investment in H1

At a food fair in Vientiane, Laos (Photo: Xinhua/VNA) Vientiane (VNA) – The Lao Government is considering imposing limits on a number of imported goods in an attempt to minimize or cut the use of foreign currency on non-essential items amid dwindling foreign currency reserves, Lao Prime Minister Phankham Viphavanh said. Responding to National Assembly deputies’ questions at the third session of the 9th legislature, the PM said vehicles, alcoholic beverages and other imported luxury items are among goods to be considered for the import curb. Laos is suffering from a shortage of foreign currency, so the government is struggling to purchase and import sufficient essential items, notably fuel. Meanwhile, the Vientiane Times reported that the Lao Government is considering engaging an international consulting firm to determine the value of state assets, particularly those pertaining to natural resources. According to the newspaper, the idea was put forward at the National … [Read more...] about Laos considers curbing imports to save foreign currency

Illustrative image. (Photo: SGGP) The People's Committee of HCMC said that the disbursement rate of the Public Investment Plan in 2022 is not much compared to previous years due to many difficulties and obstacles, but mainly the impact of the Covid-19 pandemic in 2021. The restart of the construction of projects in the first months of 2022 experienced a certain delay after the time the city adopted measures to respond to the Covid-19 pandemic. In addition, input costs were unstable and tended to increase. Besides the above objective reasons, the People's Committee of HCMC also raised some other subjective reasons affecting the disbursement progress of public investment capital, for example, difficulties related to site clearance; it is necessary to have time to carry out the project adjustment procedures on the basis of Resolution No.99/NQ-HDND dated October 19, 2021, of the People's Council of HCMC and Decision No.4354/QD-UBND dated December 28, 2021, on the medium-term capital … [Read more...] about HCMC disburses only 17 percent of public investment capital in first six months

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Vietnam reached more than 14 billion USD in foreign direct investment ( FDI ) in the first six months of 2022, announced the Ministry of Planning and Investment (MPI). The ministry’s data showed that as of June 20, 2022, the total newly registered capital, adjusted and contributed capital to buy shares, buy contributed capital of foreign investors reached 14.03 billion USD, as much as 91.1% over the same period in 2021. Of which, 752 new projects were granted investment registration certificates, down 6.5% compared to the same period, with a total registered capital of over 4.94 billion USD, down 48.2% over the same period. In addition, there were 487 projects registering to adjust their investment capital, up 5.9% over the same period, with the total additional registered capital reaching nearly 6.82 billion USD, up 65.6% compared to the same period last year. There were also 1,707 capital contributions and share … [Read more...] about Vietnam attracts more than 14 billion USD of FDI in H1

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

In an interview granted to Vietnam News Agency ahead of the trip from June 28 to 30, Vietnamese Ambassador to the U.K. Nguyen Hoang Long said the trip will focus on the six important pillars in the strategic partnership, namely politics - diplomacy, economy - trade - investment, education - training, defence - security, science - technology, and the Vietnamese community in the U.K. He said the top legislator will engage in a hectic schedule which includes government and parliament-related events, activities related to economy, trade, investment and education, and meetings with the Vietnamese community. He will hold talks with the leaders of the U.K. House of Commons and House of Lords and meetings with partners, leading businesses economic and financial groups and banks in the country as well as attend a number of forum on economic, trade, investment, education-training cooperation. Chairman Hue is set to meet with British Deputy Prime Minister Dominic Raab to discuss bilateral … [Read more...] about N.A. leader’s visit hoped to cement Vietnam’s all-round ties with U.K.

President Nguyen Xuan Phuc (R) receives Honorary Consul of Vietnam in Switzerland Philipp Rosler (Photo: VNA) Hanoi (VNA) – President Nguyen Xuan Phuc hosted a reception on June 28 for Honorary Consul of Vietnam in Switzerland Philipp Rosler and a Swiss business delegation who are visiting Vietnam to seek opportunities for trade and investment cooperation between Vietnam and Germany and Switzerland. The State leader hailed the contributions by Rosler to the Vietnam-Germany strategic partnership either as a German politician in the past or a business leader and Vietnam ’s Honorary Consul in Switzerland at present. Noting the fast recovery of tourism in Vietnam, President Phuc said he hopes more and more tourists and businesses from Europe will come to Vietnam. According to the President, although the EVFTA has opened up opportunities for trade and investment ties between Vietnam and Germany and Switzerland, bilateral trade between Vietnam and those countries … [Read more...] about President hosts Honorary Consul of Vietnam in Switzerland

In the first six months of 2022, Vietnam Airlines has resumed flights to 14 countries and territories, including the UK, France, Germany, Australia, the US, Japan, Korea, Thailand, Malaysia, Singapore, Laos, Cambodia, Taiwan, and Hong Kong. Lately, the airline has opened a new route to India and is preparing the necessary conditions to immediately reopen flights to China, Myanmar, and Russia when the conditions permit. The national carrier is expected to resume flights to Indonesia in July and key international routes to Japan, Korea, and Australia in November at the same flight frequency as in 2019. It hopes that it will be able to restore the entire international flight network, equivalent to that in 2019 by the end of 2023. The gradual restoration of international flight routes is an opportunity for Vietnam Airlines to improve the usage efficiency of resources, increase revenue, improve production and business results, reduce losses, and aim at profits in the following years. … [Read more...] about Vietnam Airlines plans to restore its entire flight network by the end of 2023

More than 360,000 young people and students from colleges and universities are working as volunteers in the 2022 Mùa Hè Xanh (Green Summer) Campaign, a community and charity programme launched by the Hồ Chí Minh Communist Youth Union this week. — VNA/VNS photo by Hồng Giang HCM CITY — Nearly 800 university students and members of the Hồ Chí Minh Communist Youth Union opened the 2022 Mùa Hè Xanh (Green Summer) Campaign on Tuesday in HCM City. The annual event is the year’s biggest social and charity programme launched by the union. The volunteers are working in remote areas of Tam Nông District in Đồng Tháp Province, and Phú Quý island in Bình Thuận Province. Some villages in Laos are also included. They have worked to clean and upgrade canals, alleys, roads and irrigation systems. Free health check-ups and medicine for poor residents, children and women are also provided. They have also participated in cultural and community activities to promote environmental protection, … [Read more...] about HCM City students join 2022 Green Summer Campaign

NA Chairman Vuong Dinh Hue (L) and his Hungarian counterpart László Kövér at the press meeting on June 27. (Photo: VNA) Budapest (VNA) – Vietnamese National Assembly (NA) Chairman Vuong Dinh Hue's official visit to Hungary has attracted attention from the media in Eastern Europe. In Hungary, Magyar Nemzet (Hungarian Nation) newspaper ran an article saying the two countries’ traditional friendship has recorded great strides, especially since the visit to Vietnam by Prime Minister Orban Viktor and a trip to the European nation by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong. Hue's visit from June 25-28 would create a stepping stone for the two countries’ comprehensive partnership to enter a new chapter in the time ahead, particularly after Vietnam and the European Union (EU) completed the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) and a free trade agreement (EVFTA), according to Magyar Nemzet. In its writing, Magyar … [Read more...] about NA leader’s Hungary visit grabs headlines on Eastern European media