News

The investment from the Republic of Korea (RoK) will continue to rise strongly, according to General Secretary of RoK Business Association in Vietnam Hong Sun.

Vietnam hopes Japan to be its largest investor, Prime Minister Nguyen Xuan Phuc said at the two countries’ business talk in Hanoi on January 17, as part of an official visit to Vietnam by Japanese PM Shinzo Abe.

Party General Secretary Nguyen Phu Trong has stressed that entrepreneurs and enterprises of Vietnam and China play the important role in enhancing their cooperation for the development of each nation as well as the bilateral relationship.

Party General Secretary Nguyen Phu Trong has affirmed that Vietnam is willing to create the best possible conditions for foreign investors, including those from China to do business in the country.

During the reception for Executive Director of India’s TATA Group Indronil Sengupta in Hanoi on January 12, President Tran Dai Quang expressed his confidence that the group’s Long Phu thermo-power II in Soc Trang, once operational, would open the door for more Indian projects to come to Vietnam.

Ministry of Transport should give a priority for investing in transport infrastructure, especially the key projects, which play significant role to develop the national socio- economy, Deputy Prime Minister Trinh Dinh Dung said at a conference hosted by the ministry in Hanoi on January 10.

The Finance Ministry needs to well manage fiscal tools to stabilise the macro-economy while making breakthrough reforms in budget management to reduce overspending and ensure solvency, Prime Minister Nguyen Xuan Phuc stressed at the ministry’s teleconference in Hanoi on January 6.

The State Bank of Vietnam (SBV) has devised a credit package worth 50 trillion VND for high-tech and clean agriculture production, which has been assigned to the Bank for Agriculture.

Processing and manufacturing industry attracted the largest foreign direct investment (FDI) flows this year with newly licensed capital reached over US$9.8 billion, accounting for 64.6% of total newly registered capital, according to the General Statistics Office of Vietnam (GSO).

As of December 26, the number of projects of foreign direct investment granted licences in 2016 was 2,556 with 15.1 billion USD in total register capital, up 27 percent year on year in project number but equal to just 97.5 percent of capital, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Prime Minister Nguyen Xuan Phuc stressed 10 remarkable socio-economic achievements in 2016 and 9 outstanding problems while requiring determination to perform socio-economic tasks from the beginning of next year during a conference of the government and localities in Hanoi on December 28.

Prime Minister Nguyen Xuan Phuc, Deputy Prime Minister Trinh Dinh Dung and 500 domestic and foreign delegates attended an investment promotion conference in the northern province of Vinh Phuc on December 27.

The gross regional domestic product (GRDP) of Hanoi in 2016 is estimated to rise by 8.2% against last year, according to the municipal statistics department.

On December 25, at the opening of a 4-day trade fair running through showcasing Vietnamese commercial goods at the Tatmadaw Hall in Yangon, Myanmar, Bui Huy Son, director of the Vietnam Trade Promotion Agency said the outlook for the Myanmar market looks good— showing high potential for Vietnam exports and investment.

In order to realize the goal of 70 billion USD in trade turnover between Vietnam and the Republic of Korea by 2020, the Korean trade support agencies will strengthen consuling activities and supports for the implementation of the free trade agreement (FTA) to the business community in 2017.

According to the park’s management board, Hoa Lac Hi-tech Park granted investment licences to nine projects worth a total of 200 million USD in 2016, on an area of 15.23 hectares, concerning the fields of manufacturing, hi-tech research and service provision.

Businesses from Italy’s Trento province have shown their interest in Vietnam’s investment incentives, especially in technology, electro-mechanics, green agriculture, forestry and pharmaceuticals, which are their strengths.

Hanoi and HCM City have been named in the top 25 emerging market cities on the FDI 2016/17 Global Cities of the Future listing, a global investment service provided by the Financial Times.

The Vietnamese Embassy in Korea in collaboration with the Korea Financial Investment Association held a workshop on opportunities to invest in Vietnam`s infrastructure under the public-private partnership (PPP) model in Seoul on December 15.

The Ministry of Industry and Trade has promulgated a decision to approve the list of the country`s prestigious exporters for 2015 with the aims to support local firms in promoting exports and expanding markets .