Private sector investment

Numerous sectors were added to receive incentives under the Draft Law on Investment to ensure it matches the new FDI strategy. Accordingly, the main targets of the draft are to increase the quality and effectiveness of local and foreign investment inflow, complete the legal framework about conditional investment lines as well as create favourable conditions for investors. According to the drafting board, the draft amendment is planned to revise 36 regulations, add four regulations and remove two regulations compared to the Law on Investment passed in 2014. Notably, the draft amendment added a number of investment sectors namely R&D, manufacturing and trading products created by scientist study, investment activities relating to renew and innovation, manufacturing goods or supplying services which either create or join the value chain. Besides, the draft added regulations about the principles and conditions to apply the incentive policy in order to ensure the effectiveness and … [Read more...] about Draft Law on Investment adds incentive sectors

  A rendering of the proposed Long Thành International Airport in the southern province of Đồng Nai, which is still in the preparation process, with the first stage set to be completed in 2025. — Photo courtesy of Airports Corporation of Việt Nam  Bồ Xuân Hiệp HCM CITY — The booming aviation sector in Việt Nam needs investment from the private sector to ensure that it has adequate airport infrastructure for continued expansion, experts have said. With double-digit growth over the last five years, the sector is under pressure because of the rising number of airlines and aircraft now operating in the market.    The five airlines that operate in Việt Nam are Vietnam Airlines, VietJet Air, Jetstar Pacific Airlines, Vasco and Bamboo Airways. However, Việt Nam will need about 10 airlines in the near future to meet demand, … [Read more...] about Aviation industry seeks private investment amid explosive growth

Focusing on legislation and involvement of the public and private sectors are a driving force for attracting investment in transport projects, including the North-South Expressway project. — Photo mt.gov.vn HÀ NỘI — Focusing on legislation and involvement of the public and private sectors are a driving force for attracting investment in transport projects, including the North-South Expressway project, said Transport Deputy Minister Nguyễn Ngọc Đông at a workshop wher World Bank experts and officials of related ministries discussed the implementation plan of the project. Speaking at the workshop on April 26, Đông said that a key challenge in infrastructure development in Việt Nam is that the country’s public investment on infrastructure only meets 25 to 30 per cent of demand. The Vietnamese Government is now calling for the involvement of private companies in transport projects under public-private … [Read more...] about North-South Expressway requires public-private partnership: WB

Financial Markets ADB expert identifies ways to make HCMC a financial hub By Thanh Thom Tuesday,  Nov 19, 2019,15:44 (GMT+7) ADB expert identifies ways to make HCMC a financial hubBy Thanh Thom An office and commercial building complex in HCMC’s District 1. HCMC joins a growing list of cities from Colombo to Kuala Lumpur that aim to become international financial hubs – PHOTO: PHAM LE HCMC – An expert at the Asian Development Bank (ADB) has recommended several ways to help transform HCMC into a financial center, including developing a comprehensive legal framework, creating a solid market infrastructure and ensuring monetary policy independence. In a blog post, Donald Lambert, principal private sector development specialist at ADB’s Southeast Asia Department, made his recommendations based on information discussed at the 2019 HCMC Economic Forum, held last month, which focused on turning the city … [Read more...] about ADB expert identifies ways to make HCMC a financial hub

Deputy Prime Minister and Foreign Minister Pham Binh Minh speaks at the event. (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister and Foreign Minister Pham Binh Minh on September 9 highlighted the deepening diplomatic ties between Vietnam and the Middle East and African countries, as well as progress made in their collaboration in other spheres like trade, telecommunications, labour, education and health care. Addressing a session on economic cooperation within the conference themed “Meet ambassadors from the Middle East and Africa” in Hanoi, the official said cooperation models between Vietnam and some African nations, especially in the realm of agriculture, have been seen as those of the Non-Aligned Movement (NAM) cooperation. He stressed Vietnam’s capacity to meet high and diverse demands of the Middle East and African countries, particularly after the country assumes the posts of the ASEAN’s rotary chair in 2020 and a non-permanent member of the UN … [Read more...] about Progress recorded in cooperation with Middle East-Africa: Deputy PM