DEVELOPMENT FRAMEWORK NEEDED FOR WIND POWER SALES
Earlier, the Singapore government approved in principle the sale of 1.2GW from a 2.3GW offshore wind farm under the management of the PetroVietnam Technical Services Corporation (PTSC) - a member of the Vietnam Oil and Gas Group (PVN), to the Southeast Asian island nation through a high-voltage undersea cable.
DEVELOPING THE CARBON MARKET IS KEY TO GREEN TRANSITION
The World Bank Group's Country Report on Climate and Development for Việt Nam in 2022 highlights that the effects of climate change cost the country roughly US$10 billion in 2020, approximately 3.2 per cent of GDP. By 2050, the entire economic expense associated with climate change could reach $523 billion.
VIET NAM’S STABILITY, OPENNESS KEY TO NEW FDI COMMITMENTS
Cumulative foreign direct investment (FDI) commitment in Viet Nam increased despite global uncertainties, thanks to continued confidence in Viet Nam’s stability and openness, noted the World Bank (WB). In its Viet Nam Macro Monitoring for October 2023 report, the WB said, FDI commitment in Viet Nam for the first 10 months of 2023 reached US$25.7 billion, 14.7 percent higher than the same period last year.
GERMAN INVESTORS CONTINUE TO BET ON THE VIETNAMESE MARKET
On November 21, the results of the AHK World Business Outlook Fall 2023 survey were unveiled, providing valuable insights into the perspectives of German investors around the world and in Vietnam. The survey, conducted from September 25 to October 20, focused on assessing the business situation, expectations, investment activities, and associated risks faced by German companies operating in Vietnam.
VIETNAM STRUGGLES TO MEET 2023 PUBLIC INVESTMENT TARGET
With less than six weeks before the year 2023 is out, Vietnam is seeing the public investment disbursement target for the year as an impossible mission. Data from the Ministry of Finance showed that the nationwide disbursement results up to October amounted to 52% of the full-year plan and achieved 56% of the target set by the prime minister.
DANANG LINES UP FRESH URBAN AREAS TO MATCH ASIAN STANDARDS
Danang is aiming to become an international seaport city and the growth pole of the key economic zone of the central Vietnam and Central Highlands regions. According to a master plan for the development of Danang approved this month, the city’s urban space is organised into 12 subdivisions.
NEWLY-REGISTERED FDI AT 25.7 BILLION USD IN 10M
Total newly-registered investment capital, additional capital, contributed capital for share purchases, and contributed capital from foreign investors totalled 25.762 billion USD in the first 10 months of 2023, an increase of 14.7% over the same period of 2022 and the highest increase since the beginning of this year.
VIETNAM ATTRACTIVE TO U.S., EUROPEAN INVESTORS AS ECONOMIC ALLURE GROWS
Ivan Alver, co-founder of Global M&A Partners (GMAP), highlighted this trend on the sidelines of the GMAP conference organized on November 13 by RECOF Vietnam, an international M&A consulting firm. GMAP is a global alliance of 30 M&A firms covering 50 countries and territories across the Americas, Europe, and Asia Pacific.
