Vietnam remains favourite investment destination for European firms: Report
Precisely 36% of European firms ranked Vietnam either first, within their top three, or among their top five investment destinations on a global scale, according to the latest Business Climate Index (BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham) and produced by Decision Lab on April 11.
Hanoi (VNA) – Precisely 36% of European firms ranked Vietnameither first, within their top three, or among their top five investmentdestinations on a global scale, according to the latest Business Climate Index(BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham)and produced by Decision Lab on April 11.
The reporthighlighted that Vietnam's draw as a foreign direct investment (FDI)destination remains strong among European business leaders, with 3% moreEuropean business stakeholders citing it as one of their top three investmenthotspots worldwide.
The BCI, which quantifies the business sentiment of the Europeanbusiness and investment community in Vietnam, held steady at 48 in the firstquarter of 2023. Though it remains at the same level it registered as 2022 drewto a close, there are promising indications that European business stakeholdersare witnessing a positive shift in their economic outlook.
Encouragingly, the business environment outlook for 2023 is displayingpromising signs of betterment. Specifically, the number of respondents who aresanguine about the nation's economy has risen by 8 points, signaling a growingfaith in its prospects, it said.
According to the survey, the number of individuals expecting a downturnin the economy decreased by 6%, while that of those forecasting an upturnin revenue and orders increased by 7%.
The survey results also indicate that the European business andinvestment community is broadly content with the level of attentionpolicymakers have given to business needs in Vietnam, with a third ofrespondents expressing significant or moderate satisfaction. This positivefeedback is a testament to the government's ongoing commitment to fostering abusiness-friendly environment in the country.
However, foreignbusinesses in Vietnam continue to grapple with regulatory opacity,administrative inefficiencies, and visa and work permit issues./.
The ASEAN+3 Macroeconomic Research Office (AMRO) has joined many international organisations in revising up Vietnam’s GDP growth this year thanks to the country’s strong performance since early this year and success in containing inflation.
Financial institutions and the world’s top credit rating agencies’ forecasts on Vietnam’s economic growth are completely founded, said Russia’s Sputnik radio.
Foreign experts have dubbed the Vietnamese economy as a miracle in Asia and a bright spot of economic growth in Asia-Pacific as a result of the Vietnamese Government’s sound and effective economic management policies.
Singapore and other Southeast Asian Nations (ASEAN) economies are seeing downgrades to their 2023 growth outlooks because slowing global growth will outweigh the positive impact from China's economic reopening, International Monetary Fund (IMF) chief economist Pierre-Olivier Gourinchas said on January 31.
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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.
A corner of HCM City (Photo: VNA) 
