Investment

A different FDI wave By Ngoc Khanh Vietnam achieved an economic growth rate of 7.08% in 2018, the highest growth since 2008. The FDI sector has continued to play an important role in the economy – PHOTO: THANH HOA Foreign direct investment (FDI) remains an important economic sector for Vietnam, but the country has to compete fiercely with other nations in FDI attraction. Vietnam achieved an economic growth rate of 7.08% in 2018, the highest growth since 2008. The FDI sector has continued to play an important role in the economy. The sector accounts for over 70% of the import-export turnover, 20% of the gross domestic product (GDP) and 15% of the budget revenue. FDI enterprises have created jobs for 3.6 million direct workers and 5-6 million indirect workers. This is the ground for Vietnam to continue further improvement of the business environment to attract more FDI enterprises, especially amidst the forecast that many FDI enterprises will leave China for another … [Read more...] about A different FDI wave

M&A makes up majority of foreign capital inflows By Le Hoang The real estate sector in HCMC has attracted large foreign investment through M&A deals - PHOTO: LE HOANG HCMC - Some US$6 billion out of US$7.63 billion in foreign investment capital pledged to HCMC last year came from capital contributions, share acquisitions and purchases of stakes from domestic businesses. HCMC vice chairman Le Thanh Liem said at a conference in Binh Duong Province on February 14 that the pledged investment capital from foreign investors for HCMC last year picked up by 15.59% against the previous year. Of these, there were 1,060 new projects, with total registered capital of US$811.68 million, and 244 projects with additional capital of over US$835 million. Last year also saw 3,283 cases in which foreign investors received approval to contribute capital, buy shares and contribute capital to domestic firms, with registered capital totalling US$5.99 billion. With these results, HCMC … [Read more...] about M&A makes up majority of foreign capital inflows

Ba Ria-Vung Tau grants investment certificates for nine projectsBy Le Anh Ba Ria-Vung Tau chairman Nguyen Van Trinh (R) presents the investment certificate an investor - PHOTO: LE ANH HCMC – The government of the southern province of Ba Ria-Vung Tau today presented the investment certificates to nine projects with total registered capital of over VND9.9 trillion (US$426.4 million) and US$162.62 million. Among the projects are a hi-tech industrial and residential complex in Phu My Town with registered capital of VND7.2 trillion; the Da Bac 4 solar power project worth VND1.1 trillion, and an instant coffee processing plant capitalized at US$115 million. At the ceremony to grant the investment certificates, Nguyen Hong Linh, secretary of the provincial Party Committee, said that the province would continue to create a fair investment environment for enterprises and promote the private sector this year. In addition, the province will focus on attracting investment in five … [Read more...] about Ba Ria-Vung Tau grants investment certificates for nine projects

EVN inaugurates Thai Binh 1 thermal power plantThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc (C) and other senior officials cut the ribbon to inaugurate the Thai Binh 1 thermal power plant on February 14 in Thai Binh Province – PHOTO: VNA HCMC - Vietnam Electricity Group (EVN) today held a ceremony to inaugurate Thai Binh 1 thermal power plant in My Loc Commune, Thai Thuy District, Thai Binh Province, local media reported. The plant received VND26.5 trillion in funding, equivalent to US$1.27 billion, with 85% of it provided by the Japan International Cooperation Agency through soft loans and the remainder by EVN. With construction started in February 2014, the power station has two generators with a total capacity of 600 megawatts, according to Duong Quang Thanh, chairman of EVN. The two generators were put into commercial service in April last year, after four years of construction and installing equipment. The thermal power plant deploys modern technology and … [Read more...] about EVN inaugurates Thai Binh 1 thermal power plant

Danang to call on investment in hi-tech, real estate after Tet By Nhan Tam An employee is at work in a Japan-invested plant in Danang Hi-Tech Park. The central coastal city plans to call for investment in 44 projects after the Tet Holiday – PHOTO: NHAN TAM DANANG – The central coastal city of Danang plans to call for investment in 44 projects mostly in the fields of hi-tech and real estate after the Tet holiday, with each of them needing US$30,000 to US$400 million, according to a representative of the Danang Investment Promotion Agency. Half of the 44 projects are in the information-technology and hi-tech sectors and will be executed in Danang Hi-Tech Park. The city is seeking investors for a solar energy project which needs US$150 million to US$400 million, and a US$200-million project to manufacture semiconductor materials for electronic parts and circuits. A 60-hectare urban area project and Truoc Dong Lake ecological zone covering 100 hectares of land are also … [Read more...] about Danang to call on investment in hi-tech, real estate after Tet