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Vietnam has pulled in a total of USD5.46 billion worth of foreign direct investment (FDI) in the first two months of this year, down 15.6%, reported the Ministry of Planning and Investment. Of the sum, USD3.31 billion came from 126 newly-licensed projects, down 33.9% on-year. Meanwhile, the remainder of USD1.61 billion was from the capital rise of 115 existing projects, up 2.5 times higher than the same time last year. Vietnam attracts USD5.46-billion in FDI in the first two months of this year During the two-month phase, foreign investors poured capital in 17 sectors, with processing and manufacturing topping with over USD3 billion, accounting for 55.7%. The runners-up are power production and distribution with USD1.44 billion (26.5%), real estate USD485 million and science-technology roughly USD153 million. Among 46 countries and territories investing in Vietnam between January and February, Japan took the lead with USD1.64 billion, or 30% of the total. Singapore came next with USD1.07 billion (19.6%) and South Korea third with USD1.05 billion (19.3%). The southern city of Can Tho attracted the biggest FDI between January and February with USD1.31 billion, making up 24.2% of the total. It was followed by Hai Phong City USD918 million or 16.8 percent. Bac Giang came third with nearly USD573 million. Vietnam saw total FDI disbursement of roughly USD2.5 billion during the phase, up 2% on-year. …

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Great power comes from a small grain of rice On January 26, Vinaseed's shipment of 60 tonnes of premium fragrant rice, imported by Longdan in the UK, hit the shelves of the supermarket chain with a retail price of up to £15.5 (VND465,000) per 10 kg. Longdan is the first enterprise to import rice from Vietnam after the UK - Vietnam Free Trade Agreement (UKVFTA) took effect. In the near future, there will be many enterprises importing Vietnamese rice under the agreement. Previously, on January 13, the first batch of 1,600 tonnes of rice, opening the 2021 export season of the Trung An Hi-tech Farming Joint Stock Company, was sent to Singapore and Malaysia at a price that could not be better, of up to US$750 per tonne. Pham Thai Binh, Director General of Trung An Hi-Tech Farming JSC, said the two types of rice exported in the shipment were Jasmine 85 fragrant rice and Huong Lai fragrant rice; of which, 450 tonnes of Jasmine 85 went to Singapore at US$680 per tonne and 1,150 tonnes of Huong Lai fragrant rice delivered to customers in Malaysia for US$750 a tonne. In addition to the above shipment, Trung An JSC also had an order of more than 2,000 tonnes exported to Germany, continuing to make effective use of the EU-Vietnam Free Trade Agreement that took effect last year. Those are the two shipments that successfully opened the new year for Vietnamese rice, with an expectation of more miracles in 2021 than the previous year. Rice exports in 2020 reached about 6.15 million tonnes, worth US$3.07 billion. Although rice exports decreased by about 3.5% compared to 2019, mainly to ensure national food security, export value increased by 9.3%. The average export price for the whole year is estimated to have been US$499 a tonne, an increase of 13.3% compared to 2019. Vietnamese rice prices have surpassed Thailand, rice has become a prized agricultural commodity with positive growth and is constantly being prioritised in the world market. Looking at the achievements …

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MPI proposes a draft decree on procurement bidding under CPTTP MPI proposes a draft decree on procurement bidding under CPTTP The Ministry of Planning and Investment (MPI) has summited to the Government a draft decree on amending Decree 95/2020/ND-CP providing guidelines on procurement bidding under the Comprehensive and Progressive Trans-pacific Partnership Agreement (CPTTP). According to the MPI, the draft decree will amend and supplement some articles of Decree No 95. It aims to guide State companies to execute bidding packages under the CPTTP agreement and EU-Việt Nam Free Trade Agreement (EVFTA). However, per the Government's Resolution No 190/NQ-CP on the provisional application of the UK-Việt Nam FTA (UKVFTA), Việt Nam agreed to temporarily apply the UKVFTA from January 1, 2021. The agreement was negotiated based on the principle of inheriting commitments in the EVFTA with necessary adjustments to ensure compliance with the bilateral trade framework between Việt Nam and UK. By doing so, the draft decree will avoid amending Decree 95/2020/NĐ-CP many times. The MPI has asked the Government to revise Decree No 95 as follows. The first option aims to implement international treaties on bidding and the second option is to execute the bid for public procurement of goods under the CPTTP, EVFTA and UKVFTA. To boost competitiveness in bidding, the draft decree has stipulated the implementation of bidding related to consultancy services, non-consultancy services and construction services. In the draft decree, bidding packages specified in Appendix II of the Decree No 95 show State companies will decide to allow intra-regional contractors or contractors from member countries of CPTTP to attend only. For bidding packages specified in Appendix III of Decree No 95, State companies can allow intra-regional contractors or contractors from member states of the EU and UK to bid. Regarding the intra-regional procurement bidding for the supply of goods …

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