Foreign investors maintain confidence in Vietnam’s economy
Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year, only 2 percent lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms.
Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year. (Photo: VNA)
Hanoi (VNA) – Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year, only 2 percent lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms.
Of the investment capital, up to 11.7 percent has been disbursed, up 2 percent as compared with the corresponding time last year.
In August alone, 2.4 billion USD was registered, up 65 percent from the previous month, mainly additional capital injected into the processing and manufacturing industry.
However, this month’s FDI disbursement dropped 14.3 percent against July and 12.2 percent year-on-year as the social distancing order has been imposed in major economic centres.
Budget collection in August also went up 13.9 percent while total spending reduced 5.9 percent year-on-year.
According to the World Bank, Vietnam’s economic recovery in the fourth quarter will depend on the government’s capacity for COVID-19 containment, stressing the urgency of vaccination, with at least 70 percent of adults to be injected.
It suggested the government employ more measures to boost domestic demand and speed up public investment disbursement and the implementation of supportive packages for people, enterprises and household businesses./.
While the investment flow from traditional partners has shown signs of slowing down, the exploration of new markets will help Vietnam maintain success in attracting foreign investment.
Vietnam reeled in more than 19 billion USD from FDI attraction in the first eight months of this year, according to the Ministry of Planning and Investment.
The Vietnamese Government is always ready to create the best conditions for and stand side-by-side with European firms operating in the country, while wishing that EU countries facilitate Vietnamese investments in fields that Europe has demand for, thus fostering balanced and long-term win-win trade and investment cooperation, Prime Minister Pham Minh Chinh has said.
Vietnam always finds a way to overcome obstacles and challenges, Chief Executive Officer (CEO) of HSBC Vietnam Tim Evans said when giving comments on Vietnam’s economy and its GDP growth prospects.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
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.
Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year. (Photo: VNA) 
