(VEN) - The Ministry of Planning and Investment has announced a new draft strategy for attracting foreign direct investment (FDI) in the 2018-2023 period. The goal of the strategy is to identify priority sectors in order to attract high-quality FDI and create a spillover effect on the economy. FDI capital has increased by nearly 1,000 percent over the last decade. FDI value per capita has exceeded the levels recorded in China, India, and all the major ASEAN countries, excluding Malaysia. However, processing and manufacturing, which create low added value, wages, and weak spillover effects, have been dominating the FDI scene with huge total investment value. The FDI attraction strategy for the 2018-2023 period targets quality rather than quantity, with a focus on high-tech, environmentally friendly, low-energy consuming and renewable energy projects, in addition to enhancing connectivity between FDI businesses and domestic companies. The Foreign Investment Agency (FIA) strategy has … [Read more...] about Vietnam to focus on quality of foreign investments
Vietnam foreign investment agency
RoK helps Vietnam develop investment information system
The Government of the Republic of Korea (RoK) will provide a non-refundable aid package worth US$5.5 million to help Vietnam carry out a project on upgrading and developing the national investment information system for 2018-2021. At the signing ceremony of the record of discussions - Source: baodauthau.vn A memorandum of understanding to this effect was signed between Vietnam’s Ministry of Planning and Investment (MPI) and the Korea International Cooperation Agency (KOICA) in Hanoi on May 3. The US$6.2 million project aims to improve the ministry’s capacity for collecting, managing and analysing national database on investment, while providing online public services for investors. It is also seen as a tool assisting localities in granting investment licences and managing projects. MPI Deputy Minister Vu Dai Thang said the two sides committed to ensuring the progress of the project in order to contribute to promoting foreign direct investment (FDI) in Vietnam, … [Read more...] about RoK helps Vietnam develop investment information system
New foreign investment approvals in Jan-Apr drop sharply
New foreign investment approvals in Jan-Apr drop sharplyLe Hoang A view of downtown HCMC. The real estate sector recorded the second largest foreign investment in January-April. PHOTO: HUNG LE HCMC – Total foreign investments pledged in the year’s first four months fell by a sharp 23.9% to US$8.06 billion, according to the Foreign Investment Agency. Of the fresh foreign investment approvals in the period, pledges by existing and new projects declined significantly. In particular, 883 new projects that had been approved in the year to April 20 had total registered capital of US$3.55 billion, a fall of nearly 24% against last year’s same period. Besides, 303 operational projects registered to adjust their investment capital up by US$2.24 billion, a year-on-year drop of 48.5%. Regarding foreign indirect investment, the four-month period recorded 1,863 cases of foreign investors contributing funds or acquiring local shares with a combined value of US$2.26 … [Read more...] about New foreign investment approvals in Jan-Apr drop sharply
Foreign-invested firms’ disbursement up 7.2 percent
Illustrative image (Source: VNA) Hanoi (VNA) – Foreign-invested enterprises disbursed 3.88 billion USD in the first quarter this year, up 7.2 percent annually, according to the Ministry of Industry and Trade’s Foreign Investment Agency (FIA). The country attracted 618 newly-licensed projects with registered capital of 2.12 billion USD, up 25.4 percent in volume, proving that Vietnam remains attractive to foreign investors. Among 76 countries and territories investing in Vietnam in the first quarter, the Republic of Korea took the lead with 1.84 billion USD, accounting for 31.6 percent of the total. Hong Kong (China) ranked second with a registered capital of roughly 689 million USD, equivalent to 11.9 percent while Singapore poured 649 million USD, or 11.2 percent, coming third. FDI firms invested in 19 out of 21 sectors, mostly in manufacturing and processing with 188.52 billion USD (58.5 percent). It was followed by real estate with 53.56 billion USD (16.6 … [Read more...] about Foreign-invested firms’ disbursement up 7.2 percent
Improved business environment attracts more foreign investment
As per the Foreign Investment Agency under the Ministry of Planning and Investment, more foreign companies poured capital into their business in Vietnam, proving that the Vietnamese investment environment was attractive to foreign investors. At a Japanese-invested company (Photo: SGGP) In the first quarter of 2018, Vietnam received an estimated $3.88 billion in foreign direct investment (FDI) projects, up 7.2 percent from the same period in 2017. The country had 618 new investment projects with registered capital of $2,121 million, an increase of 25.4 percent on the quantity. This proves that the Southeast Asian country has better investment environment. South Korea was the leading country in investing in Vietnam with the total registered capital of $1.84 billion followed by Hong Kong (China) and Singapore with registered capital of $689 million and $649 million respectively in the first three months. FDI enterprises invested in 19 industry sectors of the country’s economy. … [Read more...] about Improved business environment attracts more foreign investment