New global tax to diminish vietnams fdi attractiveness vnexpress international

According to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), accumulatively as of May 20, total foreign direct investment (FDI) inflows into Vietnam reached $10.86 billion, a drop of 7.3 per cent on-year, the fall is getting smaller than in previous months. Of this, newly registered capital was $5.26 billion, up 27.8 per cent on-year; additionally registered capital was $2.28 billion, down 59.4 per cent; and capital contribution and share purchase $3.32 billion, up 67.2 per cent. Do Nhat Hoang, FIA director-general, said that the rise of newly registered investment in the first five months is much higher than that in the first four months (11 per cent). The number of newly registered projects in the first five months also soared sharply on-year (66.4 per cent) to over 960 projects. “The growth rate of the number of new projects confirms that small- and medium-sized foreign investors continue to believe in Vietnam’s business environment,” said Hoang. … [Read more...] about Vietnam tasked with gaining FDI edge

Vietnamese Foreign Minister Bui Thanh Son (front, centre) at a session of the OECD Ministerial Council Meeting 2023 (Photo: VNA) Paris (VNA) – Minister of Foreign Affairs Bui Thanh Son is taking part in the Organisation for Economic Cooperation Development (OECD) Ministerial Council Meeting 2023 in Paris on June 7 - 8. Minister Son attended the event as representative of Vietnam – co-chair of the OECD Southeast Asia Regional Programme, at the invitation of OECD Secretary-General Mathias Cormann and the UK’s Foreign Secretary James Cleverly. Themed “Securing a Resilient Future: Shared Values and Global Partnerships”, the meeting is the most important event of the OECD in 2023, attracting the participation of ministers of the OECD member states and guest countries, along with leaders of the European Commission and many international organisations. Addressing the event, the Vietnamese official emphasised that sustainable and inclusive growth is secured only when … [Read more...] about Vietnam makes suggestions at OECD Ministerial Council Meeting 2023

Hanoi has accumulated about US$69.844 billion in foreign direct investment, ranking second in the country. Hanoi plans to build more industrial parks to attract foreign investment. Simultaneously, the city will prioritize site clearance and expedite the development of a comprehensive and modern infrastructure system. Overview of the meeting. Photo: Hoai Nam/The Hanoi Times Deputy Chairman of the Hanoi People's Committee Nguyen Manh Quyen revealed the plan today [June 8] at a meeting with representatives of the Ministry of Planning and Investment to discuss solutions to further attract foreign direct investment (FDI) into the capital . Nguyen Ngoc Tu, Deputy Director of the Hanoi Department of Planning and Investment, revealed that the city had seen a significant increase in FDI in the first four months of 2023, reaching $1.82 billion, a remarkable 260% increase compared to the same period last year. Numerous projects in sectors such as … [Read more...] about Hanoi eyes new industrial parks to lure foreign investors

Illustrative image (Courtesy of AFD in Vietnam) The European Union (EU) and France, through the French Development Agency (AFD), recently offered 20 million EUR (23.6 million USD) in aid to Vietnam to help improve resilience, water and natural resources management . On May 11, Ambassador of the EU to Vietnam Giorgio Aliberti and AFD Director in Vietnam Fabrice Richy signed an agreement to enhance cooperation to improve resilience to climate change and natural disasters in Vietnam, moving towards a “green future”. Under the agreement, the EU will provide a non-refundable aid of 20 million EUR for AFD. Via coordination with central and local authorities, AFD will call on the Water and Natural Resources Management (WARM) Facility to prepare and launch projects co-financed by AFD’s loans and Vietnam’s resources during the 2011-2029 period with total estimated capital of 200 million EUR. As planned, the WARM will back the preparation and implementation of more … [Read more...] about EU and France help Vietnam towards a green future

Hanoi (VNA) - As many as 103 restaurants were honoured with four award categories, including four highly regarded Michelin-starred restaurants. The Michelin Guide has officially opened a new era for Vietnamese cuisine with the partnership of Sun Group as the destination partner. Restaurants honoured by Michelin Guide in Vietnam Up to 70 Michelin Selected restaurants, three individuals awarded the Michelin Guide Special Awards, 29 Bib Gourmand restaurants (good quality, good value cooking), and four Michelin-starred restaurants in Hanoi and Ho Chi Minh City (HCM City) have been officially announced. Mr. Gwendal Poullennec - International Director of Michelin Guide “The first selection in Hanoi and Ho Chi Minh City highlights the differences and variety in what these two cities have to offer. Hanoi, the capital of Vietnam, offers a very laid back and relaxed vibe with small shops and restaurants found mostly in the old quarter. Traditional Vietnamese … [Read more...] about Sun Group contributes to elevating Vietnamese cuisine to global level

Data from travel platform Mustgo, which partners with 100 hotels in the south central beach town, showed two- and three-star hotels in the downtown fully booked for the week. The four-star Anya Quy Nhon reported no rooms on Friday and other high-end hotels are almost full. The fourth season of VnExpress Marathon Quy Nhon will take place on Sunday, attracting more than 10,000 runners. Return air tickets from Hanoi, HCMC to Quy Nhon cost from VND3 million ($130) per person. Quy Nhon has emerged as a rising star on the Vietnamese tourism map thanks to its long, sandy beaches and crystal blue waters. … [Read more...] about Quy Nhon hotels nearly full ahead of summer travel rush

On the morning of November 30 last year, Minh, now 29, received an email from his employers at DoorDash, the largest online food delivery company in the U.S. The company announced that it was letting him go. Just a day earlier, Minh was still the leader of one of the company’s finance management team. When he received the email, Minh had already studied and worked in the finance field in the U.S. for over a decade. He has a bachelor’s degree in accounting, a master’s in data science, is a certified Chartered Financial Analyst (CFA), as well as a Certified Public Accountant. "Though the layoff wave at that time was staggering many tech firms, I still couldn’t believe my eyes. I was aware of the financial situation of the company [DoorDash], and it was good," Minh said. The next thing he did was call his manager, hoping the letter may have been a mistake. The manager said they were surprised by the news and promised to look into the matter. Ten minutes later, it was … [Read more...] about Vietnamese worker back on feet after US layoff

In this competition, five out of 19 Vietnamese teams at primary and secondary schools excellently won awards and four others were in the Top 20. The People’s Army Newspaper has had an interview with Dr. Tran Viet Hung, the co-founder of the organization about the championship. The VEX WORLDS 2023, drawing more than 30,000 students from over 50 countries and 50 U.S. states, is a big tournament in the world. Asked about the initial idea of STEAM for Vietnam - a U.S. non-profit organization, U.S. Center (under the U.S. Embassy and Consulate in Vietnam), and the Hanoi University of Science and Technology about this playground, Dr. Tran Viet Hung emphasized the importance of STEAM education for those engaged in technology and to help hone students' thinking effectively and unlock their potential. He mentioned Bill Gates, Elon Musk, Mark Zuckerberg as good examples in early getting use of computer and technology. He confirmed that with deep knowledge, people fear nothing and dare to … [Read more...] about Project inspires Vietnamese students to dream big

Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry speaks at the opening ceremony of the exhibition. (Photo: VNA) Hanoi (VNA) – The 11th Hanoi International Plastic, Rubber, Printing, and Packaging Industry Exhibition (Hanoi PlasPrintPack 2023) was opened in Hanoi on June 8, attracting 200 companies with 340 booths. The companies are from 11 countries and territories including China, India, Indonesia, Japan, Malaysia, the Philippines, Taiwan (China), Hong Kong (China), Thailand, the UK, and Vietnam. Speaking at the opening of the exhibition, Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry, said that along with the development of the domestic manufacturing industry, the plastic, packaging, and printing industries also see rapid growth. They are supporting industries with great potential and require high-tech products, modern production processes, and management to increase competitiveness in the market. Ho Duc … [Read more...] about Over 200 companies join Hanoi PlasPrintPack 2023

Cooperation between seaport operators is opening the door for more and bigger ships to dock in Vietnam, photo Le Toan In late April, seaport operators TCTT and CMIT got the green light from the Ministry of Transport (MoT) to study a cooperation plan to develop a 1,200-metre long berth for mutual operation in the Cai Mep-Thi Vai area of the southern province of Ba Ria-Vung Tau. Nguyen Xuan Ky, deputy general director of CMIT, told VIR, “This means a lot to our collaborative project and is an important premise for us to continue to implement the next steps. Cooperation between CMIT and TCTT will bring better solutions for shipping lines, importers, and exporters in terms of berth flexibility, increased service quality, promoting business strengths of each, and meeting market demand.” In recent years, the Cai Mep Port area reported two-digit growth rate in throughputs. The number of mother ships docked at Cai Mep ports reached 33 per week, of which CMIT and TCTT received 14 … [Read more...] about Transport staples in need of funding