Dong Nai province prioritises hi-tech FDI projects

Dong Thap draws 19 foreign direct investment projects (Illustrative image. Source: VNA) Dong Thap (VNA) – The Mekong Delta province of Dong Thap is running 19 foreign direct investment projects worth nearly 4.74 trillion VND (208.56 million USD), mainly in cattle feed, acquaculture, garment-textile and rice exports. Wenzhou Hendy Mechanism & Plastics Co., Ltd. is the biggest project in the province with 953 billion VND injected in building a plastic factory in the province. It is followed by Mavin Austfeed joint venture company, which poured more than 675 billion VND into a cattle and aquatic feed plant.  Director of the provincial Department of Planning and Investment Truong Hoai Chau said the province is willing to create the most favourable conditions for businesses to invest. The locality has lured several big investors from Australia, China’s Taiwan, Russia and the Republic of Korea in recent years. It focuses on improving infrastructure at industrial clusters and devising policies to create a healthy business environment and better the quality of public services. The province has also supported investors to process special farm produce such as rice, fruit and tra fish. Local authorities have used clean land to attract foreign investors and upgraded and expanded roads to industrial parks to facilitate goods transporting. A trade promotion conference is scheduled to take place in the province in November 2017.-VNA... [read more]

Ho Chi Minh City will become the second fastest growing economy in Asia by 2021, Bloomberg cited a new study by the UK-based Oxford Economics as saying in a Wednesday report. In the next five years, HCM City's economy is expected to grow by 8% each year, according to the study, which ranked Asia's 30 largest cities. The city is the only non-Indian city in the top five that also includes New Delhi, Chennai, Mumbai and Hyderabad, reflecting its success in establishing itself as a manufacturing center, as well as its strong services sector, according to Bloomberg. In January, Chicago-based financial and professional services firm JLL ranked HCMC the world’s second most dynamic city, after India’s Bangalore. The city was categorized in the “High Potential Cities” that are driven by low costs, rapid consumer market expansion and high levels of foreign direct investment. In the first half of 2017, the southern economic hub attracted US$2.15 billion in foreign investment, double the amount it received in the same period last year, official data from the Ministry of Finance showed. With economic expansion of 7.76% during that period, the city expects to hit annual growth of 8.4-8.7%, its leaders told local media in June.... [read more]

With a burst of activity during the first eight months of 2017 in the property market, Vietnam  real estate has recently become a preferred destination in the mega trend for mergers and acquisitions. Since the consolidation of governing Vietnamese laws to streamline capital flow from foreign countries while ensuring local business protection, the approaching merger-and-acquisition (M&A) landscape appears more flexible for both sides. Looking ahead, what can we expect from the ample projections for M&A deals in the investment market? In the first half of 2017, Vietnam continued to attract significant foreign direct investment (FDI). FDI disbursement reached $7.72 billion, a rise of 6.5 per cent year-on-year, while registered FDI hit $19.22 billion, up 54.8 per cent. Much of the FDI increase, as usual, went to industrial development in the manufacturing sector. In May, Thailand’s Hemaraj Land & Development’s joint venture with local infrastructure firm Cienco 4 gained approval for a $1 billion, 32,200 hectare industrial park in Nghe An province in central Vietnam. FDI has also been directed to other sectors of the property market contributing to growth and value. Prime office and hospitality segments are showing high occupancy, increased office rents and healthy room rates. While these sectors are gaining more traction among developers, investor focus is still on operating assets – except for prime location development opportunities in Ho Chi Minh City and Hanoi. With limited available stock we are…... [read more]

Quang Nam, August 8 (VNA) - Quang Nam province has put into operation Chu Lai Port as a key logistics hub for the central and Central Highlands region after a one-year upgrade and expansion.  The project carried out by Truong Hai Auto Corporation (THACO) included the expansion of the berth upstream, the expansion and upgrading of the warehouse system and the completion of infrastructure, said Tran Huu Hoang, Director of THACO Logistics Co., Ltd and Director of Chu Lai Port.  The project cost 120 billion VND (5.2 million USD), raising the level of investment to build the Chu Lai Port from 2010 to the present to nearly 800 billion VND, he said.  “The port hosted 150 cargo ships with a total 600,000 tonnes of cargo including 23,000 TEUs (twenty-foot equivalent units) in the first six months this year,” said Hoang.  Extended by 171 metres upstream, the Chu Lai berth measures nearly 500 metres, with a depth alongside berth of -9.5 metres capable of receiving three vessels of 20,000 tonnes at the same time. These include general cargo ships and liquid cargo ships. Before the upgrade the berth could only receive two 20,000-tonne vessels.  The warehouse and workshop system has been expanded from 71,040 square metres (2016) to 91,200, including bonded warehouses (57,600 square metres), warehouses (13,440 square metres), unpackaged cargo inspection workshops (20,160 square metres), among which the unpackaged cargo inspection workshop is an entirely new facility put into operation in early 2017.  …... [read more]

A view of Chu Lai Port in the central province of Quang Nam (Photo: VNA) Quang Nam (VNA) - Quang Nam province has put into operation Chu Lai Port as a key logistics hub for the central and Central Highlands region after a one-year upgrade and expansion. The project carried out by Truong Hai Auto Corporation (THACO) included the expansion of the berth upstream, the expansion and upgrading of the warehouse system and the completion of infrastructure, said Tran Huu Hoang, Director of THACO Logistics Co., Ltd and Director of Chu Lai Port. The project cost 120 billion VND (5.2 million USD), raising the level of investment to build the Chu Lai Port from 2010 to the present to nearly 800 billion VND, he said. “The port hosted 150 cargo ships with a total 600,000 tonnes of cargo including 23,000 TEUs (twenty-foot equivalent units) in the first six months this year,” said Hoang. Extended by 171 metres upstream, the Chu Lai berth measures nearly 500 metres, with a depth alongside berth of -9.5 metres capable of receiving three vessels of 20,000 tonnes at the same time. These include general cargo ships and liquid cargo ships. Before the upgrade the berth could only receive two 20,000-tonne vessels. The warehouse and workshop system has been expanded from 71,040 square metres (2016) to 91,200, including bonded warehouses (57,600 square metres), warehouses (13,440 square metres), unpackaged cargo inspection workshops (20,160 square metres), among which the unpackaged cargo inspection …... [read more]

A view of Chu Lai Port in the central province of Quang Nam. — VNA/VNS Photo Tran Tinh Quang Nam Province has put into operation the Chu Lai Port as a key logistics hub for the central and Central Highlands region after a one-year upgrade and expansion. The project carried out by the Truong Hai Auto Corporation (THACO) included the expansion of the berth upstream, the expansion and upgrading of the warehouse system and the completion of infrastructure, Tran Huu Hoang, Director of THACO Logistics Co., Ltd and Director of Chu Lai Port told Viet Nam News. The project cost VND120 billion (US$5.2 million), raising the level of investment to build Chu Lai Port from 2010 to the present to nearly VND800 billion, he said. “The port hosted 150 cargo ships with a total 600,000 tonnes of cargo including 23,000 TEUs (twenty-foot equivalent units) in the first six months this year,” said Hoang. Extended by 171 metres upstream, the Chu Lai berth measures nearly 500 metres, with a depth alongside berth of -9.5 metres capable of receiving three vessels of 20,000 tonnes at the same time. These include general cargo ships and liquid cargo ships. Before the upgrade the berth could only receive two 20,000- tonne vessels. The warehouse and workshop system has been expanded from 71,040 square metres (2016) to 91,200, including bonded warehouses (57,600 square metres), warehouses (13,440 square metres), unpackaged cargo inspection workshops (20,160 square metres), among which…... [read more]

NDO – The inflow of foreign direct investment (FDI) into Vietnam has increased rapidly so far this year and is shifting in a positive trend. As of July 20, the country had attracted US$12.9 billion in new FDI pledges, alongside another US$5.9 billion in additional pledges, without taking into account the US$3.1 billion, which was both contributed and used by foreign investors to buy stakes in Vietnamese businesses. It is clear that the investment environment and the market in Vietnam are becoming increasingly attractive in the eyes of both indirect and direct investors from other countries. The scale of registered capital continues to expand at a rapid rate, with new FDI pledges in the first seven months of 2017 rising by 48.7% compared to the same period last year. The additional capital figure also posted an annual increase of 38.5%, bringing the total FDI capital to US$18.8 billion, up 45.3% against the same period of 2016, thus creating favourable conditions in which to achieve the FDI attraction target set for the whole 2017. Despite a 2.1% fall in the number of newly registered FDI projects during the same period, at 1,378, the total registered value posted a 1.5-fold increase. Particularly, there were a number of new FDI projects worth billions of USD each in the energy sector. In addition, the scale of existing FDI projects has also expanded, with 677 projects registering to increase capital by an additional US$5.9 billion. Evidently, increasing the project scale not only…... [read more]

An exhibition of footwear production machinery (Photo: VNA) Hanoi (VNA) - Domestic firms in the leather and footwear industry lag far behind their foreign directed investment (FDI) peers as Vietnam cements its position as a leading world exporter in the sector, experts said. Vietnam’s leather and footwear industry posted exports of 8.5 billion USD by July 15, a year-on-year increase of 10 percent, the General Department of Vietnam Customs has reported. This figure makes Vietnam fourth largest footwear producer in the world in terms of volume, after China, India and Brazil, and the third largest exporter in terms of value after China and Italy. However, foreign invested firms account for 81 percent of the export value and domestic firms account for the remaining, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso). Lefaso attributes the domination of FDI firms to their ability to expand capacity and build new factories as they prepare to benefit from tax breaks accorded by several Free Trade Agreements (FTA) that Vietnam has signed. The association said domestic firms are constrained by capital shortage and market access, making it difficult for them to expand production and increase their competitiveness. On the other hand, FDI firms are able to build on already existing advantages of capital, experience, technological superiority and other factors. [Vietnam leatherware makers make a mark] A report in the online baohaiquan.vn (Customs Newspaper) cited experts as saying Vietnamese footwear enterprises have the opportunity to get new orders because China…... [read more]

NDO – According to Prof. Dr. Nguyen Mai, Chairman of the Vietnam Association of Foreign-Invested Enterprises, new directions for attracting foreign direct investment (FDI), which focus on higher quality sources of capital and towards future technologies and services, will create an important opportunity for Vietnam to catch up with the countries that have higher levels of development. He granted an interview to Nhan Dan (People) reporter to share his opinions on the prospects of FDI attraction in the near future. Q: In 2016, Vietnam’s FDI disbursement reached a record high of US$15.8 billion. FDI capital has continued to increase in the first seven months of this year. How do you assess the capacity of FDI disbursement in the last months? A: The FDI capital reached over US$9 billion in the first seven months of the year, an annual increase of 5.8%. In July alone, the country attracted numerous major projects, including the Nghi Son 2 thermal power plant, in Thanh Hoa province, which was invested in by Japan with a total investment capital of US$2.793 billion, in addition to Samsung Display Vietnam in Bac Ninh province with an added investment capital of US$2.5 billion. There are also a number of major projects under negotiation or memorandum. Therefore, this year, the total newly registered and supplemented capital, as well as capital contribution and share purchases, will be likely to increase significantly, reaching approximately US$30 billion and the implemented capital could reach US$17-US$18 billion. In addition, it is estimated…... [read more]

In recent years, Vietnam and Singapore’s matured co-operative relationship has given signs that it is entering its prime. Singapore’s Ambassador to Vietnam Catherine Wong Siow Ping told VIR’s Thanh Tung that Vietnam will continue to see robust investment from her country in the coming time. How important is Vietnam’s market to Singaporean investors, particularly after  the establishment of the ASEAN Economic Community (AEC) more than one and a half years ago? Do you see any signs of notable new Singaporean investments into Vietnam’s property, manufacturing, and processing sectors in the time to come?   Vietnam is one of the key markets of interest in Southeast Asia for Singaporean companies. Singapore is currently the third-largest foreign investor in Vietnam, with registered cumulative investments of $41.6 billion in 1,894 projects. Singapore is also Vietnam’s top investor among ASEAN countries, accounting for about 60 per cent of ASEAN’s total foreign direct investment (FDI) into Vietnam. Singaporean companies tend to take a long-term approach when investing in Vietnam and have continued to explore business opportunities across a variety of sectors. In recent years, Singaporean investors in Vietnam have also diversified from a traditional focus on Ho Chi Minh City and Hanoi into other regions such as the Mekong Delta region, Danang in central Vietnam, and Haiphong in the north. Manufacturing continues to be a very viable sector in Vietnam, especially after the establishment of AEC. Vietnam has successfully established itself…... [read more]




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