The Hanoitimes – Experts said that it is time for Vietnam to adopt a completely new foreign direct investment (FDI) attraction strategy in accordance with the new situation in order to boost the effectiveness and spillover effect of FDI in the future. Despite the negative indications in the beginning of the year, including the unilateral withdrawal of the US from the Trans-Pacific Partnership (TPP) and growing protectionism in many countries, Vietnam’s FDI attraction in 2017 achieved impressive results. Total FDI pledges reached US$35.88 billion in 2017, up 44.4% compared to 2016 which is the highest increase over the past ten years. FDI disbursement also surpassed the record set in 2016 (US$15.8 billion) to hit US$17.5 billion, Foreign Investment Agency under the Ministry of Planning and Investment said. Moreover, FDI made significant contributions to exports, accounting for nearly 72% of Vietnam’s total export revenue in 2017 and helping Vietnam’s export revenue increase by 21.1% compared to 2016, the highest growth in many years. The quality and effectiveness of FDI projects were also improved with many large-scale projects investing in the manufacturing industry, making considerable contributions to surpassing the economic growth rate of 6.7% for the whole of 2017. 2017 also witnessed large projects by giant multinational corporations including Samsung, Bosch and Panasonic in the area of research and development which is considered a gateway to gaining better access to the fourth industrial revolution, according to Prof. Dr. Nguyen Mai, chairman of Vietnam’s Association of Foreign Invested Enterprises (VAFIE). If… [Read full story]
This year, Vietnam expects to continue to be an attractive destination for foreign investors due to new opportunities from international economic integration and government incentives.In the first two months of this year, Vietnam earned US$3.4 billion from 1,100 new and existing foreign-invested projects. Disbursement has reached US$1.55 billion, according to the Foreign Investment Agency’s latest statistics.Ryu Hang Ha, President of the Korean Enterprise Association in Vietnam (Korcham), highly valued Vietnam’s strong reforms in its business environment and deeper integration into the global economy. These are fundamental factors for Vietnam to attract FDI, he said.“Over the years, Vietnam has maintained sustainable economic…... [read more]
Mr Hirokazu Yamaoka, Chief Representative of Japan External Trade Organization (JETRO) in Vietnam tells reporter Le Khanh about changes in Japanese enterprises’ business plans after the record earthquake and tsunami. What is your comment on Vietnam-Japan relationship in terms of foreign direct investment so far?In terms of FDI, I can say that the Vietnam-Japan relationship has reached great achievements. According to a survey conducted by JETRO in the beginning of this March, large number of Japanese companies in Vietnam plan to expand their production this year. Also, many Japanese companies operating in Japan and China want to transfer their production…... [read more]
Vietnam is viewed as an attractive investment destination in the eyes of Japan investors, Hida Harumitsu, Japanese Consul General in Ho Chi Minh City said at a conference on August 23. At the conference themed ‘40 Years of Vietnam-Japan Co-operation and Development’ held in the southern province of Ba Ria-Vung Tau, Consul General Harumitsu said the number of Japan business enterprises in the country is seeing an increase, with most of these operating in Ho Chi Minh City. Japanese investors poured US$5.1 billion into Vietnam in 2012 and another US$4 billion in the first half of this year, the Japan…... [read more]
Fishermen are increasingly entering foreign waters, while local firms are importing unprocessed seafood for export as local resources are diminishing. Tuna resources are increasingly exhausted Statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP) in the past five years show that seafood import value has been on the rise.In 2011, Vietnam imported USD541m of seafood. This number rose to USD1.1bn last year. 80-85% of the imports are used in processing and contributed 15-25% to the export turnover in the last five years. Import turnover will continue to rise to USD1.4bn in order to generate USD8.4bn of export value.Vietnam…... [read more]
Electricity workers clean solar panels (Photo: VNA)Hanoi (VNA) - A shortage of policies on power tariffs for renewable energy, particularly solar electricity, has prevented the sector from attracting investors, said Prof Dang Dinh Thong from the Vietnam Clean Energies Association (VCEA).“Several investors are ready to invest in solar electricity projects in Vietnam,” Thong said.He told a conference on developing solar electricity in Vietnam held in Hanoi on September 21 that investors have looked to central Ninh Thuan and Binh Thuan provinces, which have a number of solar and wind power projects and also wish to expand to Quang Ngai, Thua…... [read more]
