News

A number of banks will introduce financial assistance packages to small- and medium-sized enterprises (SMEs) to enable their active participation in international integration.

The Ministry of Planning and Investment said, during the eight months of this year, there were 73,404 new enterprises set up with a registered capital of 567.9 trillion VND (25.46 billion USD), up 19.7 percent and 50.9 percent from a year earlier, respectively.

Concluding the second session the Government’s new term on August 31, Prime Minister Nguyen Xuan Phuc asked ministers and local authorities to regularly check the implementation of the Government’s resolution to support businesses and improve the investment environment.

Export revenue of the domestic sector reached 32.62 billion USD, up 4% year-on-year, while that of the foreign-invested sector gained 79.57 billion USD, up 6.1% year-on-year, according to the report of the General Statistics Office (GSO).

A number of foreign cable and wire companies are planning expansion in Vietnam in order to take advantage of the growing local and Southeast Asian demand.

The Ministry of Planning and Investment held a seminar to seek measures to further promote investment cooperation between Vietnam and Cuba in the coming time in Hanoi on August 30.

Vietnam committed to creating a transparent and fair business environment in line with international practices, especially for foreign investors, including those from Singapore, President Tran Dai Quang said at the Singapore-Vietnam business forum in Singapore on August 29.

Vietnam lured the total capital of 14.36 billion USD from foreign direct investment (FDI) projects in the first eight months of this year, up 7.7 percent against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Vietnam has topped an index for foreign direct investment (FDI) in emerging market countries for the second year in a row, according to a study by FDI Intelligence, a Financial Times data analysis report.

South Korea`s exports to Vietnam have spiked over 10 percent so far this year, making it the world`s third-largest importer of South Korean goods.

The representatives from the municipal and provincial People’s Committees in the south and central regions and leaders of the Vietnam Chamber of Commerce and Industry (VCCI) have signed a commitment on creating a favourable business environment HCM City on August 24.

Speaking at a conference with representatives of nearly 500 enterprises on August 22, Chairman of People’s Committee of the northern province of Quang Ninh Nguyen Duc Long vowed the locality will implement numerous measures to support local enterprises.

A Russian expert on Asia-Pacific and the ASEAN from the Russian Institute for Strategic Studies has hailed Vietnam as an attractive market for investors and a highly competitive economy.

The PetroVietnam Fertilizer and Chemicals Company (PVFCCo) on August 19 signed a Memorandum of Understanding with Japan’s UBE Industries Ltd (UBE) and Sojitz Corporation (Sojitz) to study the possibility of joining hands in building an Ammonia (NH3) production facility and derivatives from gas fields in south-eastern region.

A seminar to discuss measures to promote trade and investment with the Middle Eastern and African economies was organised in Hanoi on August 18.

The European Chamber of Commerce in Vietnam (EuroCham) has pledged to support Ho Chi Minh City to become one of the leading Southeast Asian cities.

Export value from Vietnam to the European Union (EU) grew by 8.68 percent to 16.2 billion USD in the first six months of this year, according to the Ministry of Industry and Trade’s European Market Department.

The State Bank of Vietnam early this month approved in-principle Woori Bank’s proposal to set up a wholly-owned bank in the country.

Vietnam is topping among ASEAN member nations in attracting investment from American firms, according to the 2017 ASEAN Business Outlook Survey recently issued by the US Chamber of Commerce and the American Chamber of Commerce in Singapore (Amcham Singapore).

Vietnam has recently been designated one of the five key markets in a three year program in a new Polish trade promotion effort.