Stock of foreign direct investment

During a working session with a delegation from the U.S. - ASEAN Business Council (USABC) in Hanoi on March 23, Anh expressed his delight at the strong and substantial development of cooperation between Vietnamese and U.S. firms. He highly valued the U.S. businesses’ positive contributions to the transformation and growth of Vietnam's economy, and expressed the readiness to engage in dialogues with U.S. enterprises to address obstacles in bilateral economic, trade and investment cooperation. Hailing the U.S. firms for expanding operations, research and development and innovation, he suggested the USABC further enhance its role as a bridge promoting Vietnam - U.S. comprehensive partnership effectively and substantially that are aligned with needs and interests of both sides; step up collaboration in diversifying and ensuring supply chains, and further expand business operations. The USABC delegation vowed to continue partnering closely with Vietnam and nourish Vietnam - U.S. … [Read more...] about Vietnam, U.S. nourish economic, trade, investment ties

Chief Representative of JICA Vietnam Office Shimizu Akira (Photo: VNA) Hanoi, (VNA) – Japan’s Official Development Assistance (ODA) has greatly contributed to Vietnam’s cause of socio-economic development, poverty reduction and infrastructure building over the past 30 years, said Standing Deputy Foreign Minister Nguyen Minh Vu. Vu made the remark during a reception on March 24 for Chief Representative of the Japan International Cooperation Agency (JICA) Vietnam Office Shimizu Akira, who came to bid farewell at the end of his tenure in Vietnam and introduce his successor Sugano Yuichi. The Deputy FM thanked the JICA Vietnam Office and Shimizu himself for their role in coordinating projects funded by ODA of the Japanese Government in Vietnam, as well as their cooperation with Vietnamese agencies in pushing ahead important joint projects of the two countries. He pledged that the Vietnamese Foreign Ministry is always ready to work with the Japanese side for the smooth … [Read more...] about Japanese ODA contributes greatly to Vietnam’s development: Deputy Foreign Minister

Vinhomes Ocean Park 2 in Hung Yen province. Hung Yen Urban Investment and Development Co issued two lots of bonds worth total 7.2 trillion VND on March 16 with collateral of property rights arising from business cooperation contracts at Vinhomes Ocean Park 3 project. (Photo courtesy of Vinhomes) Hanoi (VNS/VNA) - The corporate bond market is showing signs of recovery after a prolonged period of inactivity with a notable increase in both the number of issuers and value of issuance. Data on the Hanoi Stock Exchange showed as of March 24, eight companies issued bonds worth more than 23.8 trillion VND (over 1 billion USD), of which real estate firms dominated the market with total issued value of 19 trillion VND, accounting for 80% of total value. This number was a significant increase compared to the value of 500 billion VND in February and 110 billion VND in January. On March 16, two realty firms – Hung Yen Urban Investment and Development Co Ltd and Southern Star Urban … [Read more...] about Corporate bond issuance surges in March after prolonged inactivity

Vietnamese Prime Minister Nguyen Xuan Phuc will attend the second Belt and Road Forum for International Cooperation in Beijing, China from April 25 to 27. The trip will be made at the invitation of Chinese President Xi Jinping, Vietnam’s Ministry of Foreign Affairs said in a press release on Monday. The Vietnamese premier will attend the forum’s opening on April 26 before joining President Xi and his spouse in a dinner on the evening of the same day. On April 27, PM Phuc is scheduled to speak at a roundtable summit attended by leaders of 36 other nations and China. The Vietnamese head of government is also expected to hold bilateral talks with top Chinese leaders during his China trip. China has invested over US$80 billion in projects related to the Belt and Road Initiative (BRI) since it was first proposed by President Xi in 2013, according to the National Development and Reform Commission of China. By April 15, 2019, 126 nations and 29 international organizations had … [Read more...] about Vietnamese PM to attend second Belt and Road Forum in Beijing

The country should have a high level of urbanization comparable to ASEAN and Asia by 2045. Vietnam aims to have at least five cities of international caliber to serve as locomotives for regional and international development networks by 2045, according to an action plan released by the Ministry of Construction (MoC) recently. Under the action plan, the ministry will execute two resolutions, one by Politburo and the other by the Government, on the sustainable development, management, and construction of urban areas in Vietnam by 2030 with a vision for 2045. Hanoi from above. Photo: Huu Thang The country plans to build a high level of urbanization comparable to ASEAN and Asia by 2045. The urban system would be integrated, balanced, and sensitive to climate change, natural disasters, and epidemics, while promoting environmental protection and distinctively modern architecture with green and smart elements, according to the action plan. Other key targets … [Read more...] about Vietnam aims for five international-standard cities by 2045

Presiding over the ceremony, Mayor of Poitiers Eléonore Moncond'huy spoke highly of the the twinning relationship between the French locality and Vietnam's central city of Hue in particular, as well as the traditional cooperation between the two countries in general. She called on partners of the Nouvelle-Aquitaine region, including Poitiers, to proactively renew existing relationships, and look for new cooperation fields such as energy transformation, digital transformation, and green and sustainable development. Representing officials of the Nouvelle-Aquitaine region, Pascal Duforestel highlighted the traditional twinning relationship between Vietnam’s Lao Cai province and Poitou-Charente (the old name of the Nouvelle-Aquitaine region before 2016), which has been maintained and developed until now with cooperation projects in agriculture, French language teaching and tourism training. He pledged that the regional authority will support twinning cooperation projects, and promote … [Read more...] about Vietnamese, French localities look to step up cooperation

The conference, themed “Promoting the role of world cultural and natural heritage in sustainable development in Vietnam,” was jointly held by the Ministry of Foreign Affairs, the Vietnam National Commission for UNESCO and the Hanoi People’s Committee. It formed part of activities marking 35 years since Vietnam ratified the 1972 Convention Concerning the Protection of the World Cultural and Natural Heritage. The participants reviewed the protection and promotion of world cultural and natural heritage values in Vietnam, and exchanged experience in state management and the optimization of world heritage values in local socio-economic development. Vice Chairman of the Hanoi Municipal People’s Committee Ha Minh Hai said after the Thang Long Imperial Citadel won the UNESCO recognition in 2010, the Government, ministries, agencies and local authorities have focused on preserving the site and promoting its historical, cultural, architectural and artistic values. Communications … [Read more...] about International conference talks heritage’s role in sustainable development

The three projects are located at prime locations on Hung Vuong Street in Hai Chau District, about 400 meters from the Han River. They are the Da Nang Center project (No. 1), Diamond Square project (No. 2), and the Golden Square commercial complex, office, hotel, and luxury apartment project (No. 3). The Da Nang Center project, invested in by Vu Chau Long Real Estate, covers an area of ​​​​more than 7,800 square meters and has a total capital of nearly VND500 billion ($21.25 million). When construction started in March 2008, the project was advertised as high-rise apartment buildings, a high-class standard commercial center, and a five-star hotel and conference center. However, no development has been going on and rainwater has turned the project area into a pond. With its northern façade bordering a residential area, part of the project has now been turned into a landfill as locals arbitrarily throw trash … [Read more...] about Abandoned projects result in prime land waste in Da Nang

Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Agriculture and Rural Development on March 24 sent a document to coastal communities, asking them to quickly establish their own fisheries surveillance teams to enforce legal regulations on the exploitation and protection of aquatic resources. In a document sent to Chairpersons of the municipal and provincial People’s Committees, the ministry pointed to the fact that aquatic resources, biodiversity and marine ecosystems are declining rapidly, along with huge and unsustainable exploitation. Meanwhile, the apparatus organisation for law enforcement in the localities has yet to be strengthened, and there are shortages of both workforce and equipment to carry out patrols, inspections and the settlement of wrongdoings at sea, leading to the high rate of violations of relevant legal regulations. According to the ministry, about 20% of the inspected vessels have committed violations. After three inspections on … [Read more...] about Coastal communities to fight illegal fishing with own surveillance forces

Thai Deputy Government Spokesperson Tipanan Sirichana.(Photo: nationthailand.com) Bangkok (NNT/VNA) - The Cabinet has acknowledged the progress made in promoting Thailand’s image through the use of "soft power" in the entertainment industry, said Deputy Government Spokesperson Tipanan Sirichana. The government aims to promote economic development through the entertainment industry, encouraging the sales of Thai goods and services while motivating entrepreneurs through tax measures. As part of this effort, the Cabinet has appointed a committee to study and develop policies, plans and strategies for the purpose of supporting and improving the nation’s soft power through the industry. Additionally, the committee will offer tax deductions or financial incentives to motivate private entrepreneurs in the manufacturing, service, and production sectors to promote Thai products and services. The committee will propose several draft plans to the Cabinet for approval. The … [Read more...] about Cabinet recognises progress in promoting Thai soft power