Us investment vietnam

With FDI accounting for more than 70% of exports, Vietnam has successfully transformed over time into an export-driven and FDI-reliant economy. Vietnam’s establishment of a manufacturing supply chain ecosystem over the past 35 years with a focus on high value FDI is absolutely right and commendable. Mr. Joon Suk Park - Head of International Subsidiary Banking, Wholesale Banking, HSBC Vietnam, shared his ideas on the issue. Joon Suk Park - Head of International Subsidiary Banking, Wholesale Banking, HSBC Vietnam. Vietnam’s government is focusing on high value investment. How can high value FDI support Vietnam’s economy? Vietnam has over the years successfully transformed into an export led, FDI important economy where the latter contributes to more than 70% of the country’s exports. The manufacturing sector surrounding electronics and textiles & garments has been the key drivers. High value investments cover a broad range of sectors including … [Read more...] about High value investment takes Vietnam to the next level of qualitative growth: HSBC

Le Huu Quang Huy Former Investment counsellor, Embassy of Vietnam to Japan Previously, personal income in this country was low, so Vietnamese people paid little attention to services such as finance, insurance, healthcare, and education. Lately, living standards have improved a great deal, leading to more demand for such services. Vietnam has signed and implemented many commitments to open its market and offer protection to investors, regulated in both bilateral and multilateral free trade agreements. If investors have not kept up to date on this information, they may be losing out on opportunities to increase their market share. A number of foreign-invested enterprises (FIEs) face problems while trading or manufacturing in Vietnam. In such cases, they should work together to raise their voices for local authorities to hear. FIEs need to strengthen relations with domestic partners and the local labour force by increasing training opportunities, with some 80 per cent of … [Read more...] about Vietnam needs to improve investment promotion

Driven by an ardent pursuit of progress, Vietnam warmly welcomes partnerships with esteemed allies such as India, recognising the invaluable role of infrastructure development. PM Chinh expressed great enthusiasm for Indian investments in Vietnam's strategic infrastructure domains, encompassing transportation networks, energy facilities, digital infrastructure, and climate resilience. Adani lavished praise on Vietnam's far-sighted national development strategies. With a formidable presence across more than 50 countries, the Adani Group stands as India's preeminent conglomerate, renowned for its exemplary operations in port management, logistics, energy, and digital technologies. He also noted that the Adani Group expressed their keen interest and commitment to investing long-term in Vietnam after thorough research and an evaluation of the opportunities. The total investment is estimated to be around $10 billion, spanning not only the fields of ports and logistics but also energy … [Read more...] about Indian conglomerate Adani Group commits $10 billion to propel expansion in Vietnam

More than 5.26 billion USD is injected into 962 new projects in the five months. (Photo: baodautu.vn) Hanoi (VNA) – The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported. Of the sum, more than 5.26 billion USD was injected into 962 new projects, representing year-on-year increases of 27.8% in value and 66.4% in value, the agency said. According to the agency, 1,278 transactions of capital contribution for share purchases were recorded in the period with a combined value of nearly 3.32 billion USD, down 5.6% in number of transactions but up 67.2% in value. Nevertheless, 485 projects registered to adjust their … [Read more...] about Vietnam’s five-month FDI rises sharply nationwide

Representatives of Viettel Cambodia (Metfone) and ISI Group - Cambodia's leading multi-industry economic group signed a strategic partnership. Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, agro-forestry-fisheries. — VNA/VNS Hoang Minh Viet Nam invested nearly US$316.4 million abroad in the first five months of this year, equivalent to 93.5 per cent of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Of the total, $142.7 million was poured into 47 new projects, or 48.6 per cent of the figure in the corresponding period in 2022 while $173.7 million was added to 16 underway ones, nearly four times the figure of last year's first five months. Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, agro-forestry-fisheries. In … [Read more...] about Viet Nam invests over US$316 million abroad in five months

Vietnamese Prime Minister and the US President stressed the importance of maintaining exchanges between delegations at all levels, especially those of high ranking. With a focus on economic and trade cooperation, Vietnam-US relations continue to make strong progress, said Prime Minister Pham Minh Chinh during his meeting with US President Joe Biden on the sidelines of the expanded G7 Summit in Hiroshima, Japan on May 20. Prime Minister Pham Minh Chinh and US President Joe Biden are at the summit's sideline. Photo: Nhat Bac The two leaders agreed on measures to strengthen bilateral relations between Vietnam and the US. They also discussed international and regional issues of common concern. Both stressed the importance of maintaining exchanges between delegations at all levels, especially high-level delegations. This is the second time in six months that the leaders of Vietnam and the US have met, following their previous meeting at the 40th and 41st … [Read more...] about Vietnam-US relations continue strong progress: PM

Japan is now the largest ODA partner to Vietnam. Vietnam and Japan on May 21 signed three agreements worth 61 billion yen (US$442 million) to finance official development assistance (ODA) projects in Vietnam. The meeting between Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio on May 21. Photo: VGP The ODA projects aimed at socio-economic development and recovery in the post-pandemic stage, worth 50 billion yen (US$362.4 million), development of public transport in the southern province of Binh Duong, and development of agricultural facilities in Tay Nguyen (Central Highlands) province of Lam Dong. At the signing ceremony, Vietnamese and Japanese prime ministers agreed to discuss the potential of new-generation Japan-funded ODA projects. Accordingly, Vietnam will receive flexible concessional loans with more incentives to serve the nation’s mass infrastructure development projects in urban railroad construction, green … [Read more...] about Vietnam, Japan ink ODA deals worth US$442 million

Vietnam’s economic growth will be twice the global rate, International Monetary Fund (IMF) managing director Kristalina Georgieva said on Saturday, calling the country a 'shining star' in the global market. Vietnam has maintained economic stability and a positive growth rate despite global economic fluctuations, risks, and the severe impact of the COVID-19 pandemic, Georgieva said during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Hiroshima, Japan on the occasion of their attendance at an expanded summit of the Group of Seven (G7) countries. She highly spoke of Vietnam’s socio-economic management policies, adding that the government’s active, flexible, prompt, and effective monetary policies have helped the country maintain its growth rate despite challenges. The IMF will provide consultancy on interest rates and monetary policies to improve Vietnam’s capacity to respond to crises, Georgieva added. For his part, PM Chinh thanked the IMF for its support and … [Read more...] about Vietnam’s economic growth to double global rate: IMF

Viet-Uc Seafood Corporation put a 10ha shrimp processing plant in Bac Lieu Province, southern Vietnam into service on Friday, with a total investment of roughly VND400 billion (US$17 million). The Viet Uc-Bac Lieu shrimp processing plant, located in the Bac Lieu Hi-Tech Agricultural Park, is considered the first seafood processing facility in the country that has applied automation to over 70 percent of its operations. The plant also adopts advanced manufacturing technologies in order to produce value-added shrimp products meeting international standards such as HACCP and BRC as well as serving highly demanding markets including the U.S., Japan, and Europe. Speaking at the inauguration of the plant, Pham Van Thieu, chairman of the provincial People’s Committee, anticipated that this facility would become one of the largest shrimp processing plants in the Mekong Delta province, meeting the local demand for socio-economic growth. Aside from processing and preserving seafood … [Read more...] about $17mn shrimp processing plant commences operations in southern Vietnam

Vietnam will use 50 billion yen of this funding for the new-generation ODA (Official Development Assistance) budget support program for post-Covid-19 socioeconomic recovery and development, and the rest for the development of transport infrastructure and agriculture projects in the southern province of Binh Duong and and the central highlands province of Lam Dong. On Sunday, Chinh also held talks with Kishida on the occasion of partcipating the G7 Summit in Japan's Hiroshima. Japan is the largest provider of concessional ODA to Vietnam, with 2.98 trillion yen ($21.6 billion). Japan's ODA accounts for over 30% of bilateral aid to Vietnam. The two PMs said that the two countries would discuss the possibility of Japan providing new generation ODA for large-scale strategic infrastructure development projects, such as the North-South expressway, urban railways, green transformation, and medicine. These loans will have high incentives, with simpler and more flexible procedures than … [Read more...] about Vietnam, Japan sign three ODA projects valued at $500M