It was followed by agricultural, forestry and seafood field with $68.4 million, processing and manufacturing with $50.9 million. In 35 nations and territories which Vietnam have invested in, Laos attracts most with $97.6 million. Australia ranks second with 52.7 million and Slovakia ranks third with $35.9 million. At the following position is Cambodia, Cuba and Myanmar. The Foreign Investment Department under the ministry said that 2006-2017 is the booming phase of Vietnam’s foreign investment. The country has invested in 1,188 projects in 70 nations and territories with the total registered capital of $21.4 billion as of January last year. So far, the amount has approximated $22.1 billion. By ANH PHUONG – Translated by Hai Mien … [Read more...] about Banking-finance takes lead in Vietnam’s foreign investment
Vietnam foreign investment
According to Professor of Economics Tran Van Tho from Waseda University, Tokyo, FDI accounts for a higher percentage of Vietnam’s total investment in development than in other countries, including those in the fifth generation of industrialization, such as Malaysia, Thailand and China. Vietnamese industrial businesses mostly assemble industrial products or do other jobs outsourced by foreign firms. They have yet to be involved in higher stages of global value chains. Electronic components, computer components and mobile phones are now manufactured in Vietnam, but Vietnamese manufacturers only participate in stages that create low value through simple jobs, Tho said. Many domestic manufacturing facilities are foreign invested. The transfer of technologies from FDI firms to local businesses remains very weak due to a lack of vertical linkages between the two sides, the professor added. To surmount these limitations and cope with new challenges, Vietnam needs specific strategies and … [Read more...] about Is Vietnam’s foreign investment strategy misguided?
Vietnam has attracted around US$1.2 billion in foreign direct investment so far this year, down 22.5 percent compared to the same period last year. The country licensed 148 new projects to foreign investors with a combined capital of $712 million, a drop of 4.3 percent, according to the Foreign Investment Agency. It also allowed 58 existing projects to boost registered funding by a total $480.5 million, down 32.2 percent. The agency did not provide any explanation for the decline. The nine-day Lunar New Year festival last month could be one of the reasons. Among 27 countries and territories investing in Vietnam in January-February, British Virgin Islands was the biggest investor with $351.39 million, making up 29.5 percent of the total pledges. The tax haven has initiated a luxury clothing production project that alone is worth $300 million. It is followed by South Korea, with $222.11 million, and Japan, with $169.83 million. The top areas for foreign investment in the first … [Read more...] about Vietnam’s foreign investment falls 22.5 percent in Jan-Feb
Vietnam has seen the appearance of foreign investment funds committing thousands of billions of dong for a stake in Vietnamese enterprises, but many of them remained empty promises with the unannounced disappearance of investors, according to newswire Dauthau.vn. One of these was Global Emerging Markets Group (GEM) from the US. GEM has the total asset value of $3.4 billion and numerous subsidiaries over the world. After 25 years of operation, GEM has carried out 305 investment projects in 65 countries. In 2014, the group announced to pour capital into a number of Vietnamese enterprises, including VND800 billion ($35.4 million) in FLC Group, VND200 billion ($8.98 million) in Hoang Huy Group (HHS), and VND400 billion ($17.97 million) in Duc Long Gia Lai Group (DLG), to become the strategic investor. Besides, GEM committed to investing VND1.7 trillion ($76.38 million) in Hoang Anh Gia Lai Group and expected to complete the transaction within three months. However, the investor … [Read more...] about Foreign investment funds leave path of ruinous promises
The foreign direct investment (FDI) committed so far this year is over US$45 billion, four times last year's figure. The Foreign Investment Agency said of 654 projects announced by July end, the largest are the Taiwanese Formosa Group's $7.9 billion steel plant in the central province of Ha Tinh and a $6.2 billion oil refinery in Thanh Hoa Province by PetroVietnam and a Japanese-Dutch consortium. Around half the investment has been committed in real estate. It includes a $4.3 billion urban area by Brunei's New City Group in the central province of Phu Yen and a $4.23 billion project by Canada's Asian Coast Development Ltd. to develop a luxury entertainment and recreational complex in the southern province of Ba Ria-Vung Tau. Of 35 countries and territories investing in Vietnam, Taiwan is the largest with a total investment of $8.4 billion in 84 projects, Vietnam News Agency reported. It is followed by Japan, Malaysia, Brunei and Canada. The FDI scenario this year shows that … [Read more...] about Foreign investment surges to $45 billion