News

The holding of a dialogues between the Vietnamese government and the Korean business community demonstrates strong economic ties between Vietnam and South Korea.

All five sub-projects under the North-South Expressway project would be operated under the PPP mechanism, scheduled to commence in early 2021.

The retailer intends to expand presence to 55 of Vietnam's 63 provinces and nationally run cities, up from the current 39.

Huy Nhat, the owner of the once-famous Mon Hue restaurant chain, has been accused of cheating foreign investors out of US$100 million.

With a growing number of multinationals looking to set a foothold in Vietnam, the country is having a great opportunity from a new wave of foreign investment, according to the trade ministry.

The appetite for mergers and acquisitions (M&A) activities in Vietnam has not been dampened by the Covid-19 pandemic.

While countries across the world are still in the fight against Covid-19, Vietnam has resumed business as usual and become one of the first countries to diversify the supply chains.

Prior to the passage of the PPP law, Vietnamese authorities had been struggling to attract private capital to the country’s burgeoning infrastructure sector.

Japan considers Vietnam one of the most favorable investment destinations in Asia, said Japanese Ambassador to Vietnam Yamada Takio.

Local firms should be active in learning from their foreign partners to improve expertise and master new technologies, said an expert.

The country is in need of superior reform solutions to ensure its business environment capable of competing with regional and international peers, said Prime Minister Nguyen Xuan Phuc.

There will be enormous incentives in trade between Vietnam and the EU, including the Netherlands, especially as both sides have ratified the EU–Vietnam Free Trade Agreement (EVFTA).

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.

Investors have poured money into 18 fields and sectors, in which manufacturing and processing led the pack with over US$8 billion, accounting for 51.1% of the registered tally.

This resulted in a total of 9,853 foreign-invested projects in the country’s industrial parks and economic zones with total registered capital of US$197.8 billion to date.

The funds will also be directed towards activities to enable economic recovery, including accelerating the execution of the investment program while deepening trade integration.

The majority of business conditions still allow state agencies to interfere deeply in enterprises’ rights to freedom of doing business, said an expert.

TTI wants to attract 180 – 200 local firms to join its supply chains to generate a combined revenue of US$2.5 billion per year.

Strong development of the night economy, including prize-winning games businesses, could help Vietnam’s tourism compete with regional peers.

This facility will be used to develop new mobile technologies and provide testing services for Vietnamese partners like VinSmart, BKAV and Viettel.