With his strong confidence that more European investment will enter Vietnam thanks to the EU-Vietnam Free Trade Agreement (EVFTA) Bruno Angelet, Ambassador and head of the European Union Delegation to Vietnam, told VIR that Vietnam has and will continue being a very good location for European investors. “European investors remain quite optimistic about conducting business in Vietnam, where they see great potential,” he said. “The EU can offer investment in hi-tech, environmentally-friendly and less energy-consuming sectors. European businesses do not only bring technology and quality jobs but also responsible business practices,” he said. “This quality European investment can create useful links with local companies and integrate them in the global value chains.” A rise in confidence The EVFTA will eliminate over 99 per cent of tariffs, with the EU eliminating duties on thousands of items sourced from Vietnam. Meanwhile, Vietnam will liberalise … [Read more...] about Investment wave from EU on way
Why foreign direct investment is important
Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?
Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. — Photo vietnamfinance.vn Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. The sharp increase in foreign direct investment in the automobile industry has also been indicated in the latest report by the Ministry of Planning and Investment’s Foreign Investment Department. It … [Read more...] about Foreign auto makers’ U-turn: not just not quitting VN, expanding
Geneva (VNA) â Vietnam is on the right path, Director-General of the World Trade Organistion (WTO) Roberto AzevÃªdo said. He made the statement on Vietnamâs efforts in international integration during an exclusive interview granted to Vietnam News Agency correspondents in Geneva ahead of his official visit to the Southeast Asian nation on April 14-15. Following is the full text of the interview. Q: This is the first time a WTO Director-General has visited Vietnam. Could you tell us the purpose of the visit? A: Well, it is in fact my first visit to Vietnam as Director General, and as a person, and as it is my first visit I am very interested in the country. Vietnam has boasted very significant progress, both in economic terms, but also in social terms â millions have been lifted out of poverty. So Iâm very happy with the progress as the country has experimented over the last several years, Vietnam has become a leading agriculture exporter, itâs a very attractive sight for … [Read more...] about WTO Director-General: Vietnam is on the right path
Vietnam recently issued many preferential policies to attract foreign investors. However, to boost foreign investment and attract quality projects, the nation should adopt selective policies that tally with investors' demands. Vietnam News Agency talks with Nguyen Dinh Cung, Director of the Central Institute for Economic Management, about the issue. *In the first five months of this year, foreign direct investment (FDI) inflow hit 5.5 billion USD, including expanded and new projects. This was only 65.7 percent of the number recorded in the same period in 2013. Why the decline? I think we should not just compare FDI numbers with the same period in the previous year. The annual FDI inflow is steady at about 10 billion USD in recent years, accounting for 18 percent of GDP and 55 percent of total investment. This year, the figure is projected to be about 10-11 billion USD. Overall, Vietnam's FDI has been stable and met the country's actual needs. However, the current policy to attract … [Read more...] about Provinces seek high quality investment