Private investments in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region due to the impact of COVID-19.
Private investments in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region. (Photo: baoquocte.vn)
Hanoi (VNA) - Private investments in Vietnam have reached a newpeak in contrast to the trend towards decline around the world and in the ASEANregion due to the impact of COVID-19.
Thanks to its success in containing the pandemic, Vietnam has emerged as a brightspot, with economic growth reaching 2.91 percent in 2020 - a positive rategiven the gloomy global picture.
The International Monetary Fund (IMF) forecast that its GDP will grow 6.7 percentthis year. Goldman Sachs and HSBC are even more optimistic about the economy,which, they said, will expand 8.1 percent in 2021.
Vietnam’s middle and upper class is expected to grow substantially, from 25percent of the national population in 2017 to 45 percent in 2030.
Moreover, free trade agreements to which Vietnam is a signatory have benefitedthe country regarding tariffs and exports, especially smartphones andelectronic products, garments and textiles, footwear, and agriculturalproducts.
Adjustments to the Law on Enterprises and the Law on Investment have alsoplayed a part in the country’s positive outlook.
In private investment, a total of 59 transactions worth 1.14 billion USD wereconducted in 2020, with technology retaining its leading role over the lastfive years.
Local retail and service firms associated with technological solutions havecaught the eye of investors, with notable investments including 100 million USDby Warburg Pincus in Momo e-wallet and the Northstar Group’s 130 million USD inTiki - one of the three leading e-commerce platforms in the country.
Conglomerate Vingroup posted a record in this regard after GIC injected 500million USD into Vincommerce in 2019 and KKR funnelled 650 million USD inTemasek and Vinhomes in 2020.
Investments in healthcare have also increased rapidly, as Mekong Capital andVinaCapital have poured 31.8 million USD into Pharmacity and 26.7 million USDinto Thu Cuc Hospital, respectively.
Sectors such as transportation, education, healthcare, and technology areexpected to become magnets for investors this year./.
Vietnam and Ho Chi Minh City in particular have remained appealing to foreign investors who are continuing to pour capital into the southern economic hub despite the COVID-19 pandemic.
The Mekong Delta city of Can Tho will issue more preferential policies for investors to set up private nurseries in the city’s industrial parks and processing export zones, according to the municipal People’s Committee.
Private investment is forecast to keep flowing into the healthcare sector in the time ahead with the appearance of many new drivers, according to the Dau tu (Vietnam Investment Review) newspaper.
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&.
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.
Private investments in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region. (Photo: baoquocte.vn) 
