Investment

Vietnam is making efforts to tighten control over Chinese goods seeking to be designated Vietnamese-made items.

Vietnam is making efforts to tighten control over Chinese goods seeking to be designated Vietnamese-made items.

Vietnam is making efforts to tighten control over Chinese goods seeking to be designated Vietnamese-made items.

Vietnam is making efforts to tighten control over Chinese goods seeking to be designated Vietnamese-made items.

Vietnam is making efforts to tighten control over Chinese goods seeking to be designated Vietnamese-made items.

Vinpearl Air plans to add six planes on average per year to its fleet to reach a total of 30 by 2024, including 21 narrow-body and 9 wide-body aircraft.

According to experts, the boost in attractiveness of the Vietnamese market comes at a time when the business environment for drugmakers in neighboring countries has not been favorable.

The average investment capital of fresh projects in 2017 reached US$13.8 million per project, then decreased to US$5.87 million in 2018 and US$4 million in the first seven months of 2019, according to the Ministry of Planning and Investment (MPI).

Over the past 10 years, M&A activities in Vietnam have been growing strongly and become an indispensable part of the investment – business ecosystem in Vietnam.

Vietnam has huge potential for investment especially high-tech projects, thereby, the Vietnamese prime minister suggested the Hongkong-based manufacturer to expand its investment to Vietnam’s three biggest cities including Hanoi, Danang, Ho Chi Minh City.

With limited resources, this is now time for Vietnam to consider placing importance on high-quality capital in order to elevate its labor qualification, technology and protect the environment.

The lack of commitments from ministries, provinces and executives at state firms are factors behind the slow privatization progress, while problems in finance, land and laborers from periods prior to the privatization also hindered the process at target companies.

Prime Minister Nguyen Xuan Phuc admitted although Vietnam has gained initial success in global supply chains, Vietnamese businesses have mainly joined these chains in fields such as assembling or product packaging, which are lower in value and lack sustainability in supply chains.

An important part of this project is building a roadmap to modernize the information technology (IT) system in revenue administration and creating a foundation to build IT structure, thereby, the General Department of Taxation can adopt updated IT solutions for their work.

Vietnam’s telecommunication market is becoming more attractive to foreign investors as it has returned to the growth path in the first half of 2019 after a long period of saturation.

Along with the US-bound car display screens, which will incorporate LCD panels made in Japan, the plant will make air purifiers and other electronics for sale in Vietnam.

For Chinese-funded projects with specific requirement of selecting Chinese contractors, there are concerns over project quality and implementation progress, particularly the engineering – procurement and construction (EPC) form of contracts.

It is essential for Hanoi to set up an investment database as part of its efforts to promote trade and investment both at home and internationally.

All Vietnamese transportation sectors, including airports, seaports, toll roads and railways, would be attractive to foreign investors in a general sense.

Rising air travelers have been the main driver for the growth of duty-free shops at Vietnamese airports.