FDI firms optimistic about Vietnam’s economic recovery
Foreign-invested enterprises have shown optimism about the recovery of Vietnam’s economic and investment climate during a conference on supporting foreign investors to adapt to new normal business situation that took place in Ho Chi Minh City on December 17.
HCM City (VNA) – Foreign-invested enterprises have shown optimism about the recovery of Vietnam’s economic and investment climate during a conference on supporting foreign investors to adapt to new normal business situation that took place in Ho Chi Minh City on December 17.
Vu Tien Loc, President of the Vietnam International Arbitration Centre (VIAC), said that in 2021, FDI firms have been greatly affected by COVID-19 pandemic. As of November 2021, total FDI poured into Vietnam reached 26.46 billion USD. However, only 15.5 billion USD had been disbursed, down 4.1 percent year on year, he noted.
Thargbodee Serng Adichaiwit, Chairman of the Thai Chamber of Commerce in Vietnam, said that from October this year when HCM City reopened and the Government of Vietnam switched its anti-pandemic strategy to flexible adaption, Thai firms have recovered their production. He expressed his belief that with the strategy, Vietnam will secure fast recovery and attract more FDI.
He said that many Thai enterprises are interested in investing in Vietnam to exploit the huge consumer market and the strong commitments by the Government and localities of Vietnam in improving the business environment.
Cao Thi Phi Van, Vice Director of the Investment and Trade Promotion Center (ITPC) of Ho Chi Minh City, said that this year is an extremely difficult year for the city and the business community as well. However, FDI flow into the city has been at highest level among localities nationwide with nearly 49 billion USD, accounting for 12.1 percent of total FDI poured into Vietnam, she said, adding that the city has still played the role of an economic motivation of the country by contributing over 22 percent to the national GDP and more than 26 percent to the State budget.
Lauding Vietnam’s adaptation capacity, Catherine Tran, Director of Leonglee International Ltd, said that currently, many businesses have already recovered and become well prepared for COVID-19.
She held that along with its negative impacts, COVID-19 has prompted businesses to improve their capacity in designing their long-term business strategies and become ready for every change to rise up./.
While sustainable smart cities are considered a solution to sustain international business investments, for Việt Nam experts have advised local cities and provinces to prioritise building them to attract FDI.
Vietnam’s economic conditions continued to improve, with both industrial production and retail sales registered a third month of growth, said World Bank (WB) in the December edition of its Vietnam Macro Monitoring.
The northern province of Vinh Phuc estimates to attract 35 foreign direct investment (FDI) projects and 1.015 billion USD in both newly-registered and addition capital in 2021.
Vietnam’s footwear exports are likely to grow 5 percent this year although COVID-19-induced supply chain disruptions caused decreases in August and September, according to Phan Thi Thanh Xuan, Secretary-General of the Vietnam Leather, Footwear and Handbag Association (Lefaso).
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative photo (Source: VNA) 
