Want to be in the loop?
subscribe to
our notification
Business News
FDI PLEDGES ESTIMATED AT US$21.2 BILLION IN FIRST NINE MONTHS
Pledges of foreign direct investment (FDI) in the first nine months of 2020 were estimated at US$21.2 billion, down 18.9% compared with the same period last year, as shown by data as of September 20.
In the meantime, disbursement fell by only 3.2% to reach US$13.76 billion, according to the Ministry of Planning and Investment.
Manufacturing was the most attractive sector to foreign investors, receiving US$9.9 billion, accounting for 46.6% of total FDI, followed by power generation and distribution and real estate with US$4.3 billion and US$3.2 billion, respectively.
Among the 111 countries and territories with investment in Vietnam, Singapore came out on top with US$6.77 billion, equivalent to nearly one third of the total, while the Republic of Korea and China came second and third with US$3.17 billion and US$1.87 billion, respectively.
In terms of new projects, the Republic of Korea ranked first with 499 projects, followed by China (271) and Japan (209). Singapore came fourth with 173 new projects.
The southern province of Bac Lieu remained the largest FDI recipient thanks to a US$4 billion natural gas project invested by a Singaporean investor.
The two economic hubs of Ho Chi Minh and Hanoi received the second and third largest shares of FDI with US$3.25 billion and US$2.92 billion, respectively.
Source: VCCI
Related News
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
DA NANG CUSTOMS FOCUSES ON DEVELOPING CUSTOMS-BUSINESS PARTNERSHIPS
Da Nang Customs Department issued an action plan for developing customs-business partnership in 2024. One of the new events this year is the workshop on “Settlement reports for enterprises engaged in outsourcing, export production and export processing” held in Da Nang Customs Department on April 16, 2024.