International forum and expo on investment promotion slated for next year
With the Government of Vietnam committed to achieving net zero emissions by 2050, there is a shift in the country’s priority in foreign investment attraction, said Deputy Minister of Industry and Trade Do Thang Hai on July 26.
Deputy Minister of Industry and Trade Do Thang Hai (centre). (Photo: MPI)
Hanoi (VNA) – With the Government of Vietnamcommitted to achieving net zero emissions by 2050, there is a shift in thecountry’s priority in foreign investment attraction, said Deputy Minister ofIndustry and Trade Do Thang Hai on July 26.
Vietnam pays particular attention to energy transition andgreen industrial production, Hai told visiting Chairman of PDA Ventures PradeepDeviah as he asked the Indian-based group to keep this in mind while callingfor investors to participate in an international forum and expo on investment promotion scheduledin Hanoi between March and April 2023.
The deputy minister stressed that the Vietnamese Government attaches great importance toforeign investment as it is one of the country’s three pillars for economicdevelopment. Vietnam sets to rake in 38.5 billion USD in FDI this year despiteCOVID-19 and it has become more selective in FDI attraction.
He urged PDA Ventures and partners to speed up proceduresfor the two events to be held on schedule and to promote not only investmentbut also trade and tourism.
Pradeep Deviah informed his host on the coordination between PDA Ventures and Vietnamese associations and Vietfair company in organising the two events, saying the group will invite potential investors to Vietnam as it isan attractive destination for investors.
According to the Ministry of Industry and Trade, India isVietnam’s top economic partner in South Asia and the eighth largest tradepartner. Vietnam, meanwhile, is India’s 23rd biggest trade partnerglobally and the fourth largest in ASEAN.
The Vietnam-India trade increased 3.5-fold in a decade, from2.7 billion USD in 2010 to 9.6 billion USD in 2020, with an annual averagegrowth reaching nearly 16%.
Last year, the bilateral trade totalled 13.2 billion USD, up36% from 2020, despite COVID-19.
The two-way trade rose by 22% to 7.7 billion USD in thefirst half of this year; of which Vietnam’s shipments to India were valued at 4 billionUSD, up 39% year-on-year, while imports were estimated at 3.7 billion USD, up8%.
Vietnam mainly exported to India products in processing andmanufacturing, agriculture and construction; and imported inputs fortextile-garment production, plastics, chemistry, aquatic products, steel andiron./.
A joint venture between India’s Adani Group and Vietnam’s Anh Phat Investment Construction & Trading JSC has been approved by authorities of Da Nang to start studying the development of a major seaport in the central city, according to Nhan dan (People) newspaper.
About 200 Vietnamese and Indian enterprises in the pharmaceutical and medical field participated in a networking event in Ho Chi Minh City on July 5, together exploring their ‘golden’ cooperation and investment opportunities in the post-pandemic period.
Budget carrier Vietjet Air will open new routes to a number of Indian cities, starting from this September, raising the total number of air routes connecting the two countries to 17.
More than 150 Indian firms operating in different spheres in India attended a trade promotion programme held by the Vietnamese Ministry of Industry and Trade in New Delhi on July 18.
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.
Deputy Minister of Industry and Trade Do Thang Hai (centre). (Photo: MPI) 
