HCM City’s improved investment climate attractive to investors
Measures to improve the provincial competitiveness index’s (PCI) momentum in the southern metropolis of Ho Chi Minh City was discussed at a conference on January 15.
HCM City (VNA)ﷺ - Measures to improve the provincial competitiveness index’s (PCI) momentum in the southern metropolis of Ho Chi Minh City was discussed at a conference on January 15.
In 2015, the city ranked fourth nationwide in PCI, up 6 places compared to 2015, said Director of the municipal Department of Industry and Trade Pham Thanh Kien.
Kien said the city is attractive to investors due to its fairly good infrastructure, time-saving administrative procedures, and improved management modes.
Particularly, the city has the most abundant workforce in the country with 60 percent of population in working-age. Other costs, including labour, electricity and water, are two or three times lower than other cities in the region, he added.
The city is home to 250,000 domestic enterprises and 5,000 foreign invested businesses, and as many as 2,000 companies from 62 countries and territories worldwide, have established representative offices in the city.
The city’s annual growth velocity to 2020 is forecast at 7.5 percent per year, ranking fourth in the Asian region.
Kien said, in a bid to maintain and grow the city’s attractive investment climate to 2020, HCMC will actively promote high-tech, environmentally friendly and supporting industries.
The locality’s Industry and Trade sector targets to maintain an industrial manufacturing growth of 7 percent in 2016, while the rate of four key industries will be at least 7.2 percent. Total export turnover excluding crude oil is expected to grow 8 percent against 2015.-VNA
Strong recovery was seen in the Ho Chi Minh City housing market in 2015, particularly in the mid- and hi-end segments, according to an expert from CBRE Vietnam.
Ho Chi Minh City is waiting for the Government’s approval to expand a chain of software parks, including those in other provinces, following the success of its Quang Trung Software City (QTSC).
Commercial banks in Ho Chi Minh City will focus on taking measures to provide small- and medium-sized enterprises and businesses operating in the supporting industry with low-interest loans.
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&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Illustrative photo. (Photo: VNA)
