Unexpected high paying jobs

The Hanoitimes - IFC will work with Hanoi to formulate a new-generation FDI strategy in response to the government’s master plan on foreign investment promotion toward 2030. IFC, a member of the World Bank Group, today [June 27] signed a memorandum of understanding (MoU) with the People’s Committee of Hanoi to support its efforts to attract new-generation foreign direct investment (FDI) and diversify its funding sources, thereby sustaining the city’s rapid economic development, competitiveness, and inclusive prosperity. IFC will work with Hanoi to formulate a new-generation FDI strategy. Photo: Nguyen Tung. As one of the fastest growing cities in Asia and home to over eight million inhabitants, Hanoi accounts for one-fifth of Vietnam’s gross domestic product (GDP). Hanoi attracted US$8.45 billion in FDI in 2019, highest among the country’s 63 cities and provinces. Three areas namely property development, processing and manufacturing, and telecommunication and information drew the largest shares of FDI. To sustain robust socioeconomic development, Hanoi aims to attract higher-quality streams of FDI. This will support the city’s strategy of developing high-tech and high value-added industries, increasing local sourcing, and creating more and better jobs. “Strategic FDI as guided in the Politburo’s Resolution 50/2019 on orientations to finalize policies and mechanisms to promote FDI quality and effectiveness toward 2030 plays an essential role in sustaining Hanoi’s sustainable economic and employment growth and in realizing its industrialization and modernization plan toward 2030,” said Nguyen Duc Chung, Chairman of the People’s Committee of Hanoi. “We welcome IFC’s support in developing a new investment strategy and diversifying funding sources as well as mobilizing quality investors through its global network,” Chung added. Under the MoU framework, IFC will work with Hanoi to formulate a new-generation FDI strategy in response to …

[Read more...] about IFC supports Hanoi to attract high value-added investments

The country’s three high-tech parks still have plenty of space to fill for new projects. Photo: Le Toan Hoa Lac High-tech Park (HHTP) is now surrounded with complete infrastructure and favourable transport links which were expected to be an important factor for investment attraction. According to the park’s Management Board, it attracted six projects with total investment of about VND9 trillion ($391 million) in 2020, including one foreign and five domestically-owned. They focus on research and development, manufacturing, and high-tech pharmacy. While the figure is higher than that of 2019, when the park lured in just four domestically-invested projects registered at VND7.46 trillion ($324 million), it was far lower than 2018, when it attracted 11 projects registered with VND17 trillion ($739 million), a record high over the past 20 years. Notable names involved included Nidec, Mitsubishi, and Hanwha Group. The result is lower than expected though the HHTP itself enjoys Decree No.74/2017/ND-CP which came into effect in 2017, governing special mechanisms and policies for the park only. Few social infrastructures such as workers’ housing, hospitals, trade centres, and other services have been licensed there. Industry insiders said that in the context that the country is promoting high-tech foreign investment and the trend of making business and investment in the local market among technology groups, the lacklustre foreign investment attraction of the HHTP has raised questions over how attractive it actually is. While COVID-19 is an obvious reason, others should be included, some added. Established in 1998, the filling rate of the park is now 40 per cent of its over 1,500 hectares. The HHTP boasts the longest history among the country’s three high-tech parks, and has the advantages thanks to Decree 74, which includes unique incentives such as the 10 per cent corporate income tax (CIT) within the first 30 years for a new investment project of at least VND4 …

[Read more...] about High-tech park incentives under review

Red Spring Festival expects to collect over 4,000 blood units Young people donate their blood In his opening remarks, Director of the National Institute of Hematology and Blood Transfusion (NIHBT) Bach Quoc Khanh, who is head of the festival’s organizing board, said that the festival has been held annually since 2008 to address blood shortages after the lunar New Year holiday, and gradually changed public awareness of blood donation. After 13 editions, the festival has collected over 85,000 blood units and become the annual biggest blood donation event. Khanh took the occasion to express his gratitude for donators nationwide. The 14th edition is taking place from March 1-7 at the NIHBT headquarters, and three fixed places - 26 Luong Ngoc Quyen in Hoan Kiem district, 132 Quan Nhan in Thanh Xuan district, and Valley 122 of Lang Street in Dong Da district. The organizing board expects to receive over 4,000 blood units during this year’s festival, which then will be allocated to nearly 180 hospitals and medical establishments of 28 provinces and cities in the northern region. It has also made thorough preparations to welcome donors so as to ensure COVID-19 prevention and control as recommended by the World Health Organisation and the Health Ministry./. Fatal coach crash kills three, injures 4 in Dong Thap A serious traffic accident caused by a passenger coach took place on National Highway 54 in Tan Thanh Commune of Dong Thap Province’s Lai Vung District this morning, March 1, killing three and injuring four people. The passenger coach with plate number 51B-17273 driven by Tran Van Nam, aged 41, was heading from Vam Cong Bridge to Vinh Long Province when it plowed into a group of 10 bike riders and killed a rider, identified as Tran Van An, aged 59. The passenger coach continued slamming into two electric poles and a tree on the pavement, damaging the front of the coach. Local residents immediately took some injured passengers …

[Read more...] about VIETNAM NEWS HEADLINES MARCH 2