Vietnam fdi

Accelerated government spending is expected to boost demand in the remaining months of the year. ADB’s Principal Country Economist Nguyen Ba Hung shared his thoughts on Vietnam’s economic performance and its prospects for 2023 with The Hanoi Times. ADB’s Principal Country Economist Nguyen Ba Hung. What is the primary obstacle confronting Vietnam's economy for the remainder of the year? In the first half of 2023, Vietnam experienced a slowdown in GDP growth, with growth projected at only 3.7% compared to the positive momentum seen last year, when GDP grew 6.5% in the first half and 9.5% in the second half, resulting in an annual growth rate of 8% for the whole of 2022. One factor contributing to GDP growth in recent years has been public investment's sustained and steady growth. However, significant internal challenges have emerged during the Covid-19 pandemic. Vietnam's economy heavily relies on exports and foreign direct investment (FDI) … [Read more...] about Public investment as catalyst for Vietnam’s economic recovery in 2023: ADB

On the stage of the HAY music festival last Saturday, the group said they were "happy to be here and really regret that they didn’t come to Vietnam sooner". "We will 100% come back to Vietnam next year. We love you all," they said. Tablo, the leader of the group, also expressed his love for Vietnam. "It took me 30 hours but finally I arrived in Vietnam. From this moment, Vietnam will be our far away home." This is the first time that Epik High performed in Vietnam. On the stage, the members wore conical hats and interacted frequently with the local fans. They performed nine of their hits including hits like "No Thanxxx", "One", and "Rain Song". The HAY Glamping Festival took place over the weekend, with the main event on Sunday at Yen So Park, Hanoi. The headliners for the event were Epik High and Irish singer Ronan Keating, member of boyband Boyzone. Other acts included local artists like Suboi, JustaTee, Chillies, Microwave and Hoang Dung. Epik High, formed in 2001, … [Read more...] about South Korean hip-hop trio Epik High regret not visiting Vietnam sooner

There are currently around 300 green buildings certified by standards such as Lotus, Edge, LEED, or Green Mark, Photo: shutterstock According to Douglas Lee Snyder, executive director of the Vietnam Green Building Council, from a legal perspective, realising both financial and non-financial incentives in Vietnam is a challenge. “Maybe we need to make inter-ministerial cooperation efforts to achieve the goals set by the government of Vietnam. For example, while public green buildings often lead the market in other countries, in Vietnam, cost norms per square metre regulated by the Ministry of Finance alone are not enough for one construction, but it needs collaboration from other related ministries,” Snyder told VIR. Meanwhile, Angus Liew, chairman of Gamuda Land Vietnam, said that the barriers involve technology, equipment, and even perceptions. “In addition, Vietnam’s government has become well aware of the repercussions and understands the importance of transforming its … [Read more...] about Task obvious for Vietnam’s green building development

The cover of the book (Photo: VNA) Hanoi (VNA) - The Vietnam News Agency Publishing House has compiled and published a photo book entitled " General Vo Nguyen Giap ”, on the occasion of his 10th death anniversary this year (October 4, 2013-2023). It is also in anticipation of the 80th founding anniversary of the Vietnam People's Army, the 70th anniversary of the Dien Bien Phu historic victory and the 113th birth anniversary of the late general next year. Printed in both Vietnamese and English, the book compiles hundreds of photos featuring the General which were selected from various sources, providing readers with vivid images and detailed annotations on his life and career. It also highlights the historical changes, the battles and the victories of the Vietnamese army and people in the 20th century via three parts: Hometown, Family and Childhood; Military Genius; and General of the Times. General Giap, whose real name is Vo Giap, was born in Loc Thuy commune … [Read more...] about Vietnam News Agency publishing house launches photo book on Gen. Vo Nguyen Giap

The Vietnamese women volleyball team beat the Republic of Korea 3-2 in the group stage on October 1, advancing to the second round (Photo: VNA) Hanoi (VNA) – The Vietnamese delegation bagged one silver medal in the eighth competition day of the 19th Asian Games (ASIAD-19), raising the total medal number to 15. The silver medal was in Chinese chess in the mixed team category. Meanwhile, the Vietnamese women volleyball team had a successful competition day, beating the Republic of Korea 3-2 in the group stage, advancing to the second round. In the qualifying round of the women's kayak single 500m event, Ngo Phuong Thao finished in 5th place with a record of 2 minutes 25 seconds 717, entering the semi-final round. In the qualifying round of the 200m women's single canoeing event, Nguyen Thi Huong finished in second place after 53.437 seconds, progressing to the final round. On October 1, the Vietnamese Sepak Takraw women’s team of four had a victory against … [Read more...] about ASIAD-19: Vietnam bags one more silver medal

Masan is operating 3,500 supermarkets and convenience stores nationwide. (Photo: VNA) Hanoi (VNA) - Vietnamese conglomerate Masan Group on October 2 said it has secured funding of at least 200 million USD from Bain Capital , one of the world’s leading private investment firms with approximately 175 billion USD in assets under management. The investment would be in the form of convertible dividend preference share at a price of 85,000 VND (3.5 USD) per share which can be converted into ordinary shares at a 1:1 conversion ratio, Masan said in a statement, adding that proceeds would be used to strengthen its financial positions. Danny Le, General Director of Masan Group , said Masan wishes to cooperate with Bain Capital to promote its vision in which consumers are put at the centre, thus becoming a platform serving their daily needs. Barnaby Lyons, a leader of Bain Capital, noted his belief that Masan has many solid foundations, and a suitable vision and growth … [Read more...] about Vietnam’s Masan Group secures 200 million USD investment from Bain Capital

Doan Nguyen Duc, board chairman at Vietnamese agricultural giant Hoang Anh Gia Lai JSC (HAGL), intends to sell Hoang Anh Gia Lai Hotel in Pleiku City, situated in the Central Highlands province of Gia Lai, to make debt payments. The management board of the firm has reached a consensus on liquidation of unproductive properties, especially the sale of Hoang Anh Gia Lai Hotel, which was the first four-star lodging facility in the Central Highlands region. Starting its operation in 2005, the hotel lies near Phu Dong Square in the heart of Pleiku City and includes 117 rooms. The proceeds from the hotel sale will be used to pay the principal and interest on the bonds issued in 2016 at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), said Duc. The selling price has yet to be announced. The firm had earlier sold two resorts in Quy Nhon City in the south-central province of Binh Dinh, and in Da Lat City under Lam Dong Province, a hotel in Da Nang … [Read more...] about HAGL chairman plans to sell hotel in Vietnam’s Central Highlands

Delegates launch a new kitchen for children at Xa Dung Commune, Điện Biên Đông District, Điện Biên Province. — Photo courtesy of Generali Vietnam Generali Vietnam, in collaboration with the National Fund for Vietnamese Children, has launched a new kitchen for children at Xa Dung Commune, Điện Biên Đông District, Điện Biên Province. The kitchen is part of Bếp ấm cho em (Warm kitchen for children), a Generali Vietnam community initiative that brings a better life for Vietnamese children. The project aims to raise funds to build a kitchen and other auxiliary facilities for 81 disadvantaged children in Điện Biên Province. Generali Vietnam donated more than VNĐ250 million to help NFVC build a new kitchen, fully-equipped kitchen utensils, a covered dining area, and a new water tank for children in the remote Xa Dung B village and Ban Mai kindergarten. This is home to 81 children of Thai and Mông ethnic groups. The new kitchen will contribute to bringing more delicious, cleaner and … [Read more...] about Generali Vietnam donates new kitchen to children in Điện Biên Province

With the presence of leading renewable energy developers in Vietnam, Denmark has contributed international resources to the country’s net-zero journey. Denmark in Your Eyes – an annual painting competition launched in Vietnam in 2016 – is an activity demonstrating Vietnam-Denmark cooperation in green growth in recent years. Ambassador of Denmark to Vietnam Nicolai Prytz speaks at the launch of Denmark in Your Eyes competition 2023. Photo: Danish Embassy in Hanoi The competition has “added a lot of value to strengthening our two countries’ long-term cooperation on promoting green and sustainable development,” said Ambassador of Denmark to Vietnam Nicolai Prytz. With more than 18,000 paintings submitted in the last competition, it shows the great popularity of the event among schoolchildren all over Vietnam. For that reason, “it is an amazing playground for Vietnamese children, not only to express wishes about their future but more importantly to come up … [Read more...] about Green Future promotes Vietnam-Denmark cooperation for sustainable growth

Lower-than-expected growth in advanced economies and China could reduce external demand for Vietnamese exports. Vietnam's economic growth for 2023 is set to hit 4.7%, primarily influenced by weak domestic and external demand . Production of aircraft components at MHI Aerospace Vietnam. Photo: Pham Hung/The Hanoi Times The World Bank released the forecast in its latest East Asia and Pacific October 2023 Economic Update. However, there's optimism for a recovery in the following years, with growth expected to reach 5.5% in 2024 and 6.0% in 2025. The main driver of this growth will be domestic demand, although at a slower pace than in previous years. In terms of inflation, the Consumer Price Index (CPI) is projected to average 3.5% this year, largely due to scheduled increases in civil servant salaries. In the following years, assuming stable energy and commodity prices, inflation is expected to decline to 3.0% in both 2024 and 2025. On the fiscal side, … [Read more...] about Vietnam’s GDP growth forecast to expand by 4.7% in 2023: WB