Since the enactment of the Law on Foreign Investment in December 1987, one of the first achievements of ‘Doi Moi’, Vietnam has attracted FDI to its economy for over 30 years. Hence, FDI is becoming an important economic sector of Vietnam. A long road To date, more than $182 billion in FDI has been invested in almost all industries and sectors of the economy, significantly contributing to the development and restructuring of the economy. The FDI sector accounts for about 25% of total investment nationwide, and generates over 70% of total export turnover of the country. However, many experts believe that FDI is dominating too many fields and occupations, taking opportunity away from home-grown businesses, and above all, making the economy dependent on foreign investment. To adequately analyse the effect of FDI, Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic Management, explains that one cannot only focus on FDI enterprises alone, but must make a … [Read more...] about Will FDI adversely affect Vietnamese businesses?
Unemployment affects economy
The economic recovery this year will have an effect on the labour market and 54.1 million people will have jobs. Women will fill 48.3 per cent of the jobs and urban workers, 31.9 per cent. Only 2.2 per cent of the workforce, or 1.1 million workers, will not have jobs. Nhân Dân (THE PEOPLE) … [Read more...] about VN unemployment set to be 2.2 per cent
Residents buy bottled water at a supermarket in Hanoi. Photo by VnExpress/Ngoc Thanh. Local authorities have warned people not to use tap water for drinking or cooking because its source was unsafe. Following the warning, 1.5-liter, 5-liter and 20-liter bottles became bestsellers in local stores and supermarkets in Thanh Xuan and Hoang Mai Districts. Minh Hanh, who lives in Thanh Xuan District, said she made dozens of phone calls to vendors of 20-liter bottles in the area, but each time, the answer was that it was out of stock "From the lobby to the elevator, water bottles can be found every corner as all households store them for daily use during this time," Hanh said. After failing to get clean water from water tankers on October 15 night, Tuan, a resident in Hoang Mai District, scoured supermarkets to buy bottled water. However, he was forced to buy a box of 24 bottles of 0.5 liters each as there were no large bottles on supermarket shelves. A supermarket employee … [Read more...] about Hanoi tap water warning opens flood gates for bottled water sales
Companies issue $7.7b worth of bonds in nine months The nine-month value is equal to nearly 80 per cent of the total bond issuance value in 2018. The figure is also lower than the total registered value of nearly VND276.9 trillion (nearly $12 billion), which means nearly VND98 trillion bonds were unsold. In September, 28 companies made 60 issuances with total capital raised of VND19.4 trillion (excluding international bond issues). Most bonds were three-year term with total value of VND13.5 trillion. Interest rates of bonds issued in September ranged between 6 per cent and 11 per cent per annum. Banks were the main player in the bond market with total issuance value of VND14.1 trillion in September, accounting for 72.78 per cent of total market value. Real estate companies followed with VND965 billion (4.97 per cent) and securities firm with VND413 billion (2.13 per cent). Bonds issued by banks also had the lowest interest rate, averaging only 6.71 per cent per year. Some companies … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 18
People line up to get clean water at the Hạ Đình Water Plant, Hà Nội. — VNA/VNS Photo Thành Đạt HÀ NỘI — Some households in Hà Nội's Thanh Xuân District have clean water again, municipal authorities announced on Thursday evening, hours after police confirmed an investigation into the ongoing water crisis that has affected some 700,000 people. In a notice released by the Hà Nội People’s Committee, another water provider in the capital city - the Hà Nội Clean Water Ltd. Co - has directed its water supply from the Đuống River Plant and other underground water facilities to eight wards affected by the crisis. They included Đại Kim, Định Công, Thịnh Liệt, Hoàng Liệt, Thanh Xuân Nam, Kim Giang and part of Khương Đình ward. Households located along Nguyễn Trãi … [Read more...] about Clean water back in parts of Hà Nội amid ongoing crisis