Foreign investment enterprise

Foreign investment in Vietnam surges By Hung Le Workers at a foreign-invested enterprise in Long An Province - PHOTO: HUNG LE HCMC - New foreign investment approvals in Vietnam during the year to January 20 reached US$1.9 billion, rocketing by 51.9% year-on-year, according to the latest report by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. As of January 20, 226 new projects had obtained investment certificates, with total registered capital of some US$805 million, surging by 81.9% year-on-year. In addition, 72 operational foreign-invested projects won approval to inject an additional US$340.2 million, equal to 74.5% of the figure in the same period last year. Foreign investors acquired local company shares worth US$761.8 million in 489 transactions, up 114% over the year-ago period. According to the Foreign Investment Agency, foreign investors were committed to 18 sectors, of which the manufacturing and processing sector … [Read more...] about Foreign investment in Vietnam surges

Temperature scanners, face masks for foreign investment By Dr Phan Huu Thang (*) Foreign investment in Vietnam has been on the rise. From 2016 to the end of the first quarter of 2020, when the socio-economic plan for 2016-2020 was carried out, the volume of registered capital was US$147.75 billion, the volume of disbursed capital was US$76.63 billion and the volume of capital not yet disbursed was US$71.12 billion - PHOTO: MINH DUY Vietnam’s experience and initial success in combating Covid-19 should be considered and applied to other tasks to ensure economic growth in the current context. It is important to set clear targets and implement policies comprehensively, with a consensus across different groups of people, especially those in charge. On May 22, at a regular government meeting on foreign direct investment (FDI), the Prime Minister agreed to set up a special task force to boost capital inflows, one of the five growth engines in response to the economic … [Read more...] about Temperature scanners, face masks for foreign investment

Weak legal system may slow foreign investment (08-10-2005) HCM CITY — A weak legal system and poor enforcement of laws could slow the pace of foreign investment, said an Australian lawyer who spoke yesterday at an international trade conference in HCM City. "Despite wide-ranging economic reforms aimed at encouraging foreign investment, Viet Nam remains a difficult investment environment," said Robert Winter, chairman for international law at the Queensland Law Society in Australia. The conference was organised by the city Bar Association and the Law Association for Asia Pacific (Lawasia). About 300 lawyers, Government and corporate representatives are participating in the two-day event, the first such event held by Lawasia in Viet Nam. Attendees include 100 lawyers from 25 countries and territories, including Cambodia, Laos, China, Japan, Australia, the US and Viet Nam. Though the investment climate needs improvement, Winter said the economy has strong … [Read more...] about Weak legal system may slow foreign investment

Foreign investment in Q1 highest in three years By Hung Le Workers are seen at a foreign-invested automaking enterprise - PHOTO: HUNG LE HCMC - Foreign investment pledged to Vietnam in the first quarter of the year reached US$10.8 billion, the highest for the period over the last three years, according to data from the Foreign Investment Agency under the Ministry of Planning and Investment. The figure was US$4.03 billion in 2016, US$7.71 billion in 2017 and US$5.8 billion last year. In the year to March 20, as many as 785 new projects obtained investment certificates, with total registered capital of some US$3.82 billion, surging by 80.1% year-on-year. In addition, 279 operational foreign-invested projects won approval for receiving additional funding of US$1.3 billion, equal to 72.5% of the figure seen in the same period last year. Despite an increase of 40.2% in the number of projects receiving additional capital, the extra capital injected into each project in … [Read more...] about Foreign investment in Q1 highest in three years

HCMC attracts US$3.63b in foreign investment in Jan-July The Saigon Times Daily Employees at work in Cau Tre Export Goods Processing JSC in HCMC. The city attracted US$3.63 billion in foreign investment in the January-July period - PHOTO: VNA HCMC - Foreign investment registered in HCMC reached US$3.63 billion in the January-July period, up 15.2% over the same period last year, according to the municipal government. In the seven-month period, 678 new projects obtained investment certificates, with total registered capital of US$688.79 million. In addition, 168 operational foreign-invested projects won approval to inject an additional US$345 million, news site Vietnamplus reported. In addition, foreign investors conducted nearly 2,700 transactions to contribute funds to and acquire shares in local firms, at a combined value of US$2.6 billion, up 28.3% in the number of transactions and 16.7% in capital. The growth in foreign investment proves the effectiveness of … [Read more...] about HCMC attracts US$3.63b in foreign investment in Jan-July

Politburo orders review of security at foreign-invested projects The Saigon Times Daily Employees work at a foreign-invested factory. The Politburo has ordered a review of security at foreign-invested projects - PHOTO: VNA HCMC – In its newly issued resolution, the Politburo orders a review of security at foreign-invested projects in the country as part of a plan aimed at improving the quality of foreign investment. Over the past 30 years, foreign-invested enterprises have grown significantly, contributing greatly to the country’s socioeconomic development, Thanh Nien newspaper reported. Many multinational corporations with advanced technology have entered the country, creating more jobs for locals, improving local production capacity and increasing State budget revenue. However, the attraction and management of foreign investment have also had shortcomings, such as gaps between policies and development requirements, ineffective preferential policies, an … [Read more...] about Politburo orders review of security at foreign-invested projects

NA Chairwoman’s New Year wishes: The private and foreign-investment sectors’ great contribution to national economic development While the country was still inspired by her economic achievements last year, on Monday, February 11, or the seventh day of the first lunar month, National Assembly Chairwoman Nguyen Thi Kim Ngan paid a visit to staff of HDBank and Vietjet, those among the most prominent private business groups in Vietnam. National Assembly Chairwoman Nguyen Thi Kim Ngan highly appreciates business results of HDBank and Vietjet in 2018 While the country was still inspired by her economic achievements last year, on Monday, February 11, or the seventh day of the first lunar month, National Assembly Chairwoman Nguyen Thi Kim Ngan paid a visit to the staff of HDBank and Vietjet, those among the most prominent private business groups in Vietnam. Speaking to members of the two business groups on the occasion of the Lunar New Year, Chairwoman Nguyen Thi Kim Ngan … [Read more...] about NA Chairwoman’s New Year wishes: The private and foreign-investment sectors’ great contribution to national economic development

Investment, enterprise laws reviewed by NA (03-11-2005) HA NOI — The National Assembly early this week heard a series of reports on legislative work, including drafts of the long-awaited laws on investment and enterprise. Speaking at the 11th NA session, the Minister of Planning and Investment (MPI) Vo Hong Phuc affirmed that the new Enterprise Law would continue to nurture, expand and develop the rights and freedoms of the business sector. "The ask-and-give mechanism, unreasonable permits and other inconvenient procedures for enterprises will be removed, and business registration will replace the current licensing regime," Phuc said. NA approves 2006 budget The National Assembly on Tuesday passed the budget estimate resolution for next year, with overspending bound to not exceed 5 per cent of gross domestic product. The minister added that the Enterprise Law, applicable to businesses of all types, set a four year deadline for equitisation of … [Read more...] about Investment, enterprise laws reviewed by NA

Foreign investment to HCMC soars 49% The Saigon Times Daily Several townhouses in a new residential area in HCMC. The property sector took the lead in FDI attraction in HCMC in the first five months – PHOTO: THANH HOA HCMC – The city attracted US$2.77 billion in foreign capital, inclusive of both direct and portfolio investments, during the January-May period, up 49% year-on-year, according to the HCMC government. Foreign investors pledged more than US$472 million into 451 newly licensed projects in the period, marking a year-on-year rise of 22.6% in the number of new projects, VietnamPlus news site reported. The property sector took the lead in foreign direct investment (FDI) attraction in HCMC in the first five months, with capital rising by 46.7% over the year-ago period. The second position belonged to science and technology, making up 23.4% of the total investment in the city, followed by retail and wholesale as well as automobile and motorbike repair, … [Read more...] about Foreign investment to HCMC soars 49%

The assembly line at a FDI car manufacturer in Vietnam. Risks of friction would increase along with the benefits the country could reap from foreign investment. — VNA/VNS Photo Trần Việt Viet Nam News HÀ NỘI — Việt Nam should not be too “scared or concerned” of legal disputes between the State and foreign investors, but the judicial system should be prepared to deal with such situations. The remark was made by Vũ Thị Châu Quỳnh, deputy director general of the Department of Legislation, under the Ministry of Planning and Investment (MPI) at a workshop on dispute settlement between foreign investors and recipient countries held on Friday. Amongst the concluded cases during 1987-2017, 37 per cent of cases were ruled in favour of the State and only 28 per cent in favour of the investor, she said, with the remaining either undecided or discontinued, citing the statistics by the United Nations Conference on Trade and Development (UNCTAD) and the Investor-State Dispute Settlement … [Read more...] about Việt Nam courts should be more prepared to handle foreign investor v. State investment disputes