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A view of the Cau Gie-Ninh Binh Expressway, a part of the North-South Expressway. The Ministry of Transport has issued a document requesting a number of localities to speed up site clearance for component projects of the construction of the North-South Expressway in 2021 - 2025. — VNA/VNS Photo Huy Hung With the Government increasing public investment and speeding up the disbursement progress, many businesses on the stock market will benefit. On December 6, 2022, the Ministry of Planning and Investment, authorised by the Government, sent a report to the National Assembly Standing Committee on the allocation and disbursement of State budget capital in the first 11 months of this year and the measures to accelerate disbursement of public investment capital in the last month of the year. By November 30, 2022, the total state budget capital allocated by ministries, central agencies and localities to projects that are eligible for disbursement reached VND550.4 trillion (US$23.3 … [Read more...] about Public investment to bolster stock prices

Only 60km from Hoai Nhon town, 61 out of the 84 households in village One, An Toan commune were poor. Although there were many policies to support local economic development and VBSP did not limit capital sources for localities or loan sizes for households, lending was not easy. Dinh Van Ken, head of the Savings and Credit Group (SCG) in village One, a Ba Na ethnic minority said that the government, the commune, and himself had encouraged poor households many times to borrow capital but only 49 members agreed because they were afraid of the risks and did not dare to borrow. Some people did not even have the belief to rise up but instead relied on the government and charities. VBSP currently has 10,435 transaction points in communes, wards, and towns nationwide The journey out of poverty was a long and tough one. At the age of 35, Ken still lived with his wife and three children in poverty. Seeing his children grow up every day in extreme poverty, he was … [Read more...] about VBSP: 20 years on the journey of poverty reduction

Numerous foreign investors, particularly from Korea, continue to participate in Vietnam's expansion. Photo: Duc Thanh Do Nhat Hoang, director general of the FIA said, "Although it is not the greatest growth over the same time period, it is a positive indicator that businesses are progressively recovering, sustaining, and extending their production and commercial operations following the epidemic." In terms of dispensed capital, $22.4 billion is a record, as although 2019 was a year with a high level of disbursed foreign investment, it only reached $20.38 billion. Foreign investment spending declined over the course of two years during the epidemic, reaching $19.98 billion and $17.74 billion, respectively in 2020 and 2021. This year, however, the figure increased to $22.4 billion, greater than before the pandemic. This indicates that Vietnam's ability to attract foreign investment is rapidly making a comeback. Disbursed money is likewise a significant factor in attracting … [Read more...] about Foreign investment rapidly rebounds with record-breaking disbursement

Massive tech groups are pumping more money into Vietnam, contributing to the nation’s FDI targets, Le Toan Last week, Edmund Malesky, director at Duke University’s Center for International Development in the United States, said he appreciated the role of foreign direct investment (FDI) in Vietnam’s stellar economic performance in 2022. “The country concluded the year as the best-performing economy in Asia, largely due to its ability to attract foreign funding relocating from China,” Malesky said. A few days ago, laptop manufacturer Quanta Computer revealed its intention to set up a factory in the north of Vietnam to fulfil orders for Apple MacBooks, according to DigiTimes. Based in Taiwan, Quanta is a component manufacturer for many major computer brands worldwide, such as Dell, Toshiba, Amazon, HP, Cisco, Lenovo, and Fujitsu. It is also the largest Apple Watch manufacturing partner. Previously, Apple said it planned to move some MacBook production lines to Vietnam for the … [Read more...] about Diversification still on radar of major foreign investors