Adjusting preferential policies for investment projects according to development plans in different areas is essential to attract more foreign direct investment (FDI), Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai said at a seminar held in Hanoi on October 17.
As of September 20, 2017, Vietnam had 24,200 active FDI projects with total registered capital exceeding 310 billion USD, with about 167 billion USD disbursed (Illustrative image. Source: VNA)
Hanoi (VNA) – Adjusting preferentialpolicies for investment projects according to development plans in different areasis essential to attract more foreign direct investment (FDI), Chairman of theVietnam Association of Foreign Invested Enterprises Nguyen Mai said at aseminar held in Hanoi on October 17.
For developed cities such as Hanoi, Ho Chi MinhCity, Da Nang, and Hai Phong, it is necessary to promote industry andhigh-quality services, creating high added value products and increasingcompetitiveness both domestically and globally, he said.
At the same time, he urged not choosinglabour-intensive and environmentally-unfriendly projects, he added.
Deputy head of the Foreign Investment Departmentunder the Ministry of Planning and Investment Dang Xuan Quang noted some majorfactors to attract more foreign investment such as ensuring sustainable socio-economicand environmental development, developing the private sector, drawinghigh-quality projects, and grasping opportunities from the fourth industrialrevolution.
Experts recommended paying attention to policiesconnecting FDI enterprises with domestic ones while developing the supportindustry and joining global value chains.
Since 1991, the foreign economic sector has beena driving force for Vietnam’s economy, contributing significantly to thecountry’s industrial productivity, services, import-export, State budgetcollection, and gross domestic product.
From 1991-2017, Vietnam lured nearly 162 billionUSD in FDI. Notably, the presence of more large-scale projects worth at leastone billion USD between 2011 and 2016 helped Vietnam become a destination toproduce hi-tech products such as smart phones, tablets, and informationtechnology.
As of September 20, 2017, Vietnam had 24,200active FDI projects with total registered capital exceeding 310 billion USD,with about 167 billion USD disbursed.-VNA
Vietnam attracted 25.4 billion USD in foreign direct investment (FDI) in the first nine months of 2017, up 34.3 percent year on year, reported the Ministry of Planning and Investment (MPI).
Ho Chi Minh City was the most attractive destination for foreign investors, luring 3.74 billion USD in the first nine months of this year, accounting for 14.6 percent of the country’s total 25.4 billion USD.
Accumulated foreign direct investment (FDI) in the real estate sector reached 51.1 billion USD as of the end of September, accounting for 16.5 percent of the total FDI in Vietnam, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Vietnam’s economy witnessed positive changes in the first nine months of 2017 with growth increasing from quarter to quarter, according to Director General of the General Statistics Office (GSO) Nguyen Bich Lam.
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.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
As of September 20, 2017, Vietnam had 24,200 active FDI projects with total registered capital exceeding 310 billion USD, with about 167 billion USD disbursed (Illustrative image. Source: VNA)
