Vu an nguyen hai duong

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

Last week the IPN5 facility was put into operation in the northern province of Hung Yen, with the total investment of $101 million and covering 192 hectares in the two districts of An Thi and Kim Dong. Tran Quoc Van, Chairman of Hung Yen People’s Committee, said, “This is a major provincial initiative that was executed swiftly, with the site cleared in just 15 months.” Capital flow is reaching industrial park development, but the balance is not uniform across regions, photo Le Toan The Hung Yen authorities anticipate that industrial park (IP) infrastructure like IPN5 will transform the land into a significant source of local income. Over a decade ago, the Red River Delta region specialised in wet rice cultivation. Now, however, it is attempting to increase investment and industrial growth. Although Hung Yen is merely 930 square kilometres, 16 IPs have already been planned. In the first two months of this year, the industrial property segment has witnessed dynamic … [Read more...] about Localities crack on with IP construction

Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien, who is also Head of the MND’s Steering Committee on Vietnam’s Participation in U.N. Peacekeeping Operations, chaired the event. According to the decision, Major Nguyen Van Phong, assistant at the Division of Political Affairs of Brigade 229 under the Engineering Corps, will work as a military observer at the U.N. Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA). Assigning tasks to the officer, Sr. Lt. Gen. Hoang Xuan Chien asked him to promote the spirit of pro-activeness, self-reliance, overcoming difficulties, being flexible and creative; promptly integrate into the international environment and demonstrate his capability while observing military discipline, U.N. regulations and the host country’s laws, and others. According to Major General Hoang Kim Phung, Director of the Vietnam Department of Peacekeeping Operations (VNDPKO), Major Phong participated in various … [Read more...] about One more Vietnamese officer taking on peacekeeping duties

Some branches are taking care of the registration fee for car buyers, but sales are still not being boosted, photo Le Toan In a document sent to the prime minister last week, the Vietnam Automobile Manufacturers Association (VAMA) along with other associations asked the government to extend the payment of special consumption tax and reduce the registration fee of domestically manufactured and assembled cars by a half this year, in order to stimulate demand. A VAMA representative said that the domestic car sales market is in a gloomy situation, and has been struggling like many other industries since 2020. “In order to stimulate market demand, we need strong enough policies like extending the payment of excise tax in 2023 and taking 50 per cent off the registration fee. These should be applied as soon as possible,” emphasised the representative. To combat the effects of the pandemic, the government chopped the registration fee in half for domestically manufactured and assembled … [Read more...] about Auto makers project bumpy years ahead

A Coca Cola factory in Viet Nam. The beverage giant was among companies joining the mission. — Photo nld.com.vn Senior executives from 52 US companies in the 'biggest-ever' US business mission to Viet Nam are discussing investment and sales opportunities in the country. Chairman of the US-ASEAN Business Council (USABC) Ted Osius said the council was never as busy as it is now. Its services are in high demand because many US companies show great interest in the country. He also said USABC representatives from other countries told him that they must act quickly because they were competing with Viet Nam. That was a way of saying Viet Nam has become a destination for growth and opportunities. Rafael Frankel, Director of Public Policy at Meta, said the trip was the second time he had been to Viet Nam since the outbreak of the COVID-19 pandemic. He appreciates the diligence of the Vietnamese workforce and sees a bright prospect for growth in the country. As such, he revealed the … [Read more...] about US companies upbeat on investment opportunities in Viet Nam

The sons of Hanoi held their heads high and persevered in the cause of national liberation in the face of brutality and harassment. The lethal and brutal treatment and torture in Phu Quoc jail could not weaken the determination of the sons of Hanoi to survive and fight for the freedom and independence of their homeland. Former Hanoi imprisoned veterans attend a ceremony on March 22 that honors their sacrifices for national unity and liberation. Photo: Thanh Hai/The Hanoi Times Phu Quoc Prison was built in 1949-1950 under French colonial rule to detain political dissidents and national patriots. From 1963 to 1973, more than 40,000 Vietnamese patriots, soldiers, and communist activists who fought for the liberation of their country were incarcerated in the prison, which was run by the South Vietnamese regime. Located some 90 kilometers from the Vietnamese mainland, Phu Quoc prison was the site of the deaths of some 4,000 people who gave their lives in the … [Read more...] about Hanoi patriots recount memories of captivity

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals

Nguyen Van Thanh, general director of GSM (left), and Vu Hoang Yen, general director of Be Group, signed a cooperative agreement on March 21 in Ha Noi. — Photo coutersy of Vinfast Vingroup's Green-Smart-Mobility JSC (GSM) and Be Group JSC, a technology company, signed a cooperative agreement on March 21 to introduce electric cars and motorbikes to Vietnam. The agreement outlines that GSM will directly invest in Be Group to support its goal of becoming a multi-service consumer platform and the top technology transport service in Vietnam. GSM will also assist Be Group's drivers in converting petrol vehicles to electric vehicles (EVs) conveniently and easily. This new service aims to enhance the quality of service and optimise business efficiency for Be and its drivers. In the project's first phase, GSM will partner with local VPBank to offer exclusive preferential policies for Be's drivers to purchase or rent VinFast's electric cars or electric motorbikes at attractive prices. … [Read more...] about GSM works with Be to deploy electric car and motorbikes service

For the first time, on March 19, a batch of nearly 20 tonnes of fresh sugarcane from the northern province of Hoa Binh left Vietnam heading to the US market, facilitated by the privately held Tien Ngan Trade Investment Co., Ltd. Despite the modest value, the move heralds strong prospects for sugarcane and other agricultural items from Hoa Binh province. Nguyen Le Diep, the company’s director, revealed that it took six months of negotiations to meet the partner’s strict technical standards. Amidst the huge supply, boosting exports has become a crucial task for cement producers Notably, accompanying the fresh sugarcane batch were 10 cane pressing machines, which hints at how the products will be consumed in the foreign market. With a wealth of experience exporting hundreds of tonnes of fresh sugarcane to the EU, South Korea, and lately the US market, Tien Ngan Co., Ltd. is set to export 300-500 tonnes of fresh sugarcane this year. The fresh export shipment came … [Read more...] about Firms gearing up to boost exports