Business News

The COVID-19 pandemic not only changed all plans of investors but also made investors in Vietnam more cautious. The long-term investment trend is clearly taking shape in the market. That is also the reason why investor confidence is still quite strong despite the complicated development of COVID-19 pandemic.

Data from the General Statistics Office showed that in the first quarter of 2021, Viet Nam’s foreign direct investment (FDI) disbursement was estimated at US$4.1 billion, up 6.5% over the same period last year.

According to data from Ho Chi Minh City Department of Industry and Trade, industrial production in the city maintained its recovery momentum as the Index of Industrial Production (IIP) of May is expected to rise 1.6 and 5 per cent compared to last month and the same period last year.

Deputy Prime Minister Vũ Đức Đam on Monday urged all people working in industrial zones and factories to make medical declarations in a bid to prevent anymore concentrated COVID-19 outbreaks.

Investments in HCM City’s industrial parks and processing zones have risen by nearly 23 per cent year-on-year so far this year to US$236.1 million.

 Industrial production increased 10% in the first four months of 2021 year-on-year.

Last month the Ho Chi Minh Real Estate Association (HoREA) proposed ideas of higher land and house taxation which could reduce land speculation and encourage business production, as well as yield higher revenues for the government.

HCM City authorities will continue to resolve flooding and traffic congestion, build major transport works, and streamline administrative procedures to reach “smart city” status by 2030, a city official has said.