Vietnam continues to be a lucrative target for a raft of foreign investors in the first two months of 2018. Billions of US dollars have been invested in Vietnam in the first two months of the year A week ago, Japanese newswire Nikkei reported that the Japanese government and more than 20 large Japanese firms — including Sumitomo, Mitsubishi, Panasonic, and Tokyo Metro — are planning to join a gigantic project worth over $37 billion to build a smart city project in northern Hanoi. The 310-hectarea project, with property developer BRG being the Vietnamese partner, is expected to be completed in 2023. It is also expected that in October 2018, construction of about 7,000 buildings and commercial works will begin. This may be completed in late 2019. Early this month, private firm Hoa Phat Dung Quat Steel JSC, part of leading steel maker Hoa Phat Group, teamed up with Italy’s Danieli, one of the world’s largest suppliers of metallurgical equipment, on a giant stainless steel production project. The project will have a designed capacity of 600,000 tonnes per annum, which could be increased to one million tonnes per annum. Located at the Hoa Phat Dung Quat iron and steel production complex in Dung Quat Economic Zone in the central province of Quang Ngai, the project will be completed by 2020 and will seek to help the country reduce its reliance on imported stainless steel products. Stainless steel importation came to 560,000 tonnes in 2017, up 10 per cent against the… [Read full story]
Bulk FDI inflow fosters electronics export growth Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – Export of electronics products is forecast to grow rapidly in the coming time given the massive foreign direct investment (FDI) flow into this sector. Vietnam has been luring funds from the giants in hi-tech, electronics and research & development (R&D), which is a bright spot in the FDI attraction picture, said the property consultancy firm CBRE Vietnam. CBRE has assisted Panasonic in setting up the project Eco-Solution Factory in Binh Duong with total investment of some US$38 million. Following the success…... [read more]
FDI inflow feared to dwindle in 2014 Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – The inflow of foreign direct investment (FDI), having beaten all expectations last year, is feared to dwindle in 2014 as authorities tend to be more choosy while the business environment remains unfriendly to investors, experts said. Last year saw registered FDI surge to US$21.6 billion compared to the target of US$13-14 billion set at the year’s beginning by the Ministry of Planning and Investment. The total FDI disbursement also rose 9.9% to US$11.5 billion. “Such results are beyond all expectations,” said…... [read more]
Updated at Tuesday, 09 Jan 2018, 07:25 The Hanoitimes - New orientation in attracting foreign direct investment (FDI) is taken toward the direction of serving Vietnam’s socio-economic development. As such, the latest resolution No. 01/NQ-CP of the government on key missions and solutions in realizing the socio-economic strategy has proposed policies and regulations to support economic development in close relation with FDI. For example, in 2018, one of the key solution emphasized by the government is to develop industrial sectors, with priority focuses on Vietnam’s manufacturing and processing industry; industrial sector supporting agricultural sector; supporting industries in linkage with value…... [read more]
The foreign direct investment (FDI) inflows to Vietnam in first seven months of the year have seen an increase thanks to a raft of newly-registered large-scale projects. According to the Foreign Investment Agency’s statistics, in the first seven months Vietnam attracted $12.94 billion in FDI, including $8.7 billion in newly-registered capital for 1,048 projects, and $4.25 billion in expanded capital for 660 projects, signifying a respective increase of 46.8 per cent in total capital, 25.7 per cent in newly-registered capital, and 126 per cent in expanded capital on-year. In addition, the disbursed capital reached $8.55 billion, up 15.5 per cent…... [read more]
FDI inflow predicted to be lower than last year Le Hoang By Le Hoang - The Saigon Times Daily Part of Samsung’s plant in the northern province of Bac Ninh is seen in this file photo - Photo: Hung Le HCMC – The fact that Vietnam only attracted US$11.18 billion in foreign direct investment (FDI) in the January-September period, a year-on-year fall of 25.5%, has prompted predictions about a lower FDI inflow than last year. As of now, Samsung CE Complex (SECC) in HCMC’s Saigon Hi-Tech Park (SHTP) has become the most capital-intensive project approved in the country. The US$1.4-billion…... [read more]
