( Scene at the workshop. Photo: VNA) The Consulate General of Vietnam in Osaka, Japan organised a workshop for Japanese businesses from the Kansai region on investing in Vietnam. The workshop was coordinated by the Kansai Bureau of the Economy, Trade and Industry, the Japan-Vietnam Business Support Centre, and the Japan-Vietnam Friendship Association in Sakai, among others. A representative from the Kansai Bureau of Economy, Trade and Industry stated that Japanese firms consider Vietnam as a top investment destination. More than 120 participating enterprises learned about the trade ties between Vietnam and Japan, the Vietnamese economy and relevant policies. They commended Vietnam for its business climate and investment opportunities during…
HCM City maintains stable economic growth
Socio-economic development in Ho Chi Minh City in the past nine months continues to progress across fields, as reported at a regular conference in the southern hub on September 24. According to the municipal People’s Committee, the gross domestic product (GDP) was estimated at nearly 650 trillion VND (28.6 billion USD), an annual rise of 9.1 percent. Services accounted for 59.7 percent of GDP (up 10.3 percent) while industry and construction made up 39.9 percent (up 7.5 percent) and agriculture 1 percent (up 5.9 percent). Retail and service revenue totalled more than 493 trillion VND (21.7 billion USD), an annual rise of 11 percent, and export turnover reached over 22.4…
Foreign investment up by 7.6% this year
With above $1.1 billion, South Korea continued to be Viet Nam’s leading source of FDI, making up 25.7 per cent of the total FDI registered in the country. — Photo vtv HA NOI (VNS) — The disbursement of foreign direct investment (FDI) reached US$4.95 billion in the first five months of this year, a year-on-year rise of 7.6 per cent. ADVERTISING According to the latest report of the Foreign Investment Agency under the Ministry of Planning and Investment, foreign investors pumped $4.29 billion into Viet Nam during the reviewed period, equal to 78 per cent of the figure for last year. Of the sum, $2.95 billion went to 592 newly-licensed…
Big foreign investors in Vietnam’s construction field
According to the Foreign Investment Agency (Ministry of Planning and Investment), by April 20, 2015, there were a total of 1,196 FDI projects in the construction sector with a total registered capital of about $11.5 billion, accounting for 6.5% of the total FDI projects and 4.5% of total foreign capital. Real estate ranked third for attracting FDI. The average scale of projects in the construction sector was $9.64 million. Among the countries and territories investing in Vietnam in the field of construction, Korea is leading with 587 projects with investment of $ 2.4 billion (representing 49% of total projects and 20.9% total investment of the entire construction industry). Other countries…
UAE firm mulls US$500-million car park
HCMC – EPS Group from the United Arab Emirates (UAE) has proposed a plan to build a smart car park under the build-operate-transfer (BOT) format in HCMC with a total investment of US$500 million. Rustam Ibragimov, a representative of the Dubai group, told the Daily about the plan on the sidelines of a meeting between leaders of UAE businesses and the city government on May 25. EPS has invested in parking lots in 19 countries worldwide. Ibragimov said if EPS gets approval from the city government, it will consider building a system of parking, traffic surveillance and control and vehicle maintenance facilities. HCMC chairman Le Hoang Quan said the city is calling for…
Will Vietnam become “the world’s factory”?
VietNamNet Bridge – According to the Asian Development Bank’s report on Asia’s development prospects in 2015, Vietnam’s GDP growth will reach 6.1% this year and will be 6.2% in 2016, the second highest growth rate in Asia after India. Vietnam is considered a country with the brightest future among the VISTA economies India, South Africa, Turkey and Argentina. Although Vietnam’s annual growth rate in 1998-2008 was 7.5%, it was still in crisis due to inflation, slowing growth and labor competition. According to Bloomberg, Vietnam still has a chance to become a strong emerging economy in Asia thanks to its favorable geographical location, abundant young labor force and its large investments…
Foreign investors optimistic about Vietnam’s economy
Vietnam has numerous opportunities for economic development due to its stable economy and ongoing reforms in key sectors, the CEO of Maybank Kim Eng Group, John Chong, said at the Invest ASEAN 2015 conference in Ho Chi Minh City on May 25. Chong and other foreign investors participating in the conference were optimistic about Vietnam ’s economy, which is expected to grow by more than 6 percent this year. According to the CEO, the formation of the ASEAN Economic Community (AEC) at the end of this year would create a common market of ASEAN countries in which Vietnam ’s position as the region’s manufacturing hub will be strengthened. The country…
Transparency must be the supreme principle for FDI
VietNamNet Bridge – Taxation bodies are expected to examine the behavior of foreign-invested enterprises suspected of conducting transfer pricing, without fuss. However, most of the works have never been made public. Vietnam, FDI, FIA, MPI State agencies have had their reasons to keep the cases silent. However, this has angered the public and economists. Silence gives the public another reason to believe that many names on the black list of FIEs (foreign invested enterprises) conducting transfer pricing have not been exposed. Nguyen Duc Kien, deputy chair of the National Assembly’s Economics Committee, noted that Metro’s story showed the duplicity of foreign direct investment (FDI). “Investors always try to make things…
政治：ベトナム、ニン副首相が第21回国際会議でアジア発展について議論
TOKYO (VNS) — Deputy Prime Minister Vu Van Ninh shared his thoughts on the major trends deeply influencing Asia’s development at the 21st International Conference on The Future of Asia in Tokyo yesterday. In his speech at the event, Ninh described Japan as an economic power crucial to Asia-Pacific’s development and the strength of the ASEAN Community. He praised Japan for increasing co-operation with Southeast Asian countries through ASEAN institutions, and important regional summits and forums. He said their participation contributed to building trust, expanding comprehensive development co-operation, and effectively coping with traditional and non-traditional security challenges. Japan is of special significance to Viet Nam as its top investor and…
Japanese investors have injected 37.5 billion USD into 2,619 valid projects in Vietnam as of the end of April.
Japanese investors have injected 37.5 billion USD into 2,619 valid projects in Vietnam as of the end of April. Japanese funding accounted for 14.3 percent of the country’s total foreign-invested projects, as well as 14.6 percent of the total foreign direct investment registered in the nation. Latest statistics from the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) revealed that Japan ranked second among countries and territories investing in Vietnam during the reviewed period. Further, up to 1,344 Japanese-invested projects, worth a combined 31.3 billion USD, were involved in the processing and manufacturing sector, making up 83.3 percent of all Japanese registered capital in this period. In order to…