By Hung Le  January 29, 2019 | 01:12 pm GMT+7 Workers at a factory of Samsung Electronics Vietnam. Photo by Reuters FDI pledges for new projects, increased capital and stake acquisitions in Vietnam rose 51.9 percent year-on-year to $1.9 billion in January. In a statement Monday, the Ministry of Planning and Investment said the manufacturing sector attracted the most interest from foreign investors, accounting for $1.19 billion or 62.4 percent of the total FDI. Science and technology ranked second with $185.8 million, followed by real estate with $179.1 million. Japanese were the top investors with nearly $364 million. South Korea and China were next with $349.1 million and $307.8 million. Ho Chi Minh City was by far the most attractive location for the investors, accounting for around 39.1 percent of the total amount. Southern Binh Duong Province ranked second, accounting for 12.5 percent, followed by northern Hai Duong Province with … [Read more...] about Vietnam foreign investment skyrockets in January
Vietnam foreign investment
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
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?
As per the Foreign Investment Agency under the Ministry of Planning and Investment, more foreign companies poured capital into their business in Vietnam, proving that the Vietnamese investment environment was attractive to foreign investors. At a Japanese-invested company (Photo: SGGP) In the first quarter of 2018, Vietnam received an estimated $3.88 billion in foreign direct investment (FDI) projects, up 7.2 percent from the same period in 2017. The country had 618 new investment projects with registered capital of $2,121 million, an increase of 25.4 percent on the quantity. This proves that the Southeast Asian country has better investment environment. South Korea was the leading country in investing in Vietnam with the total registered capital of $1.84 billion followed by Hong Kong (China) and Singapore with registered capital of $689 million and $649 million respectively in the first three months. FDI enterprises invested in 19 industry sectors of the country’s economy. … [Read more...] about Improved business environment attracts more foreign investment
After more than eight hours, the fire at furniture company RK Resources Co., Ltd. in Bau Bang Industrial Zone has been brought under control by 9 AM today, but the entire 2,000sq.m factory area has been destroyed. The fire broke out from RK Resources's furniture factory that was filled with flammable materials At 1 AM today (April 5), a fire broke out at RK Resources Co., Ltd. in Bau Bang Industrial Zone of Binh Duong province’s Bau Bang district. The workers and security staff of the company could not put the fire out before it spread. The Binh Duong Firefighting Department sent over 15 fire engines and a hundred firefighters to the scene. However, the factory contained a lot of wood, which is easily flammable. The flames escalated amidst loud explosions, making it very difficult to contain the situation. After over eight hours, the fire was brought under control by 9 AM. Although there were no casualties, the fire has destroyed everything on the 2,000sq.m area. The causes of … [Read more...] about Huge fires destroy two foreign-invested factories in Binh Duong & Quang Ninh