Foreign direct investment

At the event. (Photo: VNA) Can Tho (VNA) – Sharing experience in response to challenges arising from new trends in international trade and investment was the focus of a conference held in Can Tho city on November 30. The event, which was jointly organised by the Ministry of Foreign Affairs in coordination with the People’s Committee of Can Tho city and Hanns Seidel Foundation Vietnam, offered an opportunity for the local administration and businesses to take advantage of opportunities from the new trends and create momentum for the Mekong Delta to over difficulties and lay a foundation for sustainable growth in the future. In her remarks, Nguyen Bich Thuy, Deputy Director of the Department for Multilateral Economic Cooperation at the Ministry of Foreign Affairs, said that the COVID-19 pandemic has affected all aspects of the socio-economic life and changed the way the economy and commercial model operate. This caused difficulties in production and business, … [Read more...] about Conference seeks to tackle challenges in international trade, investment

The scene of the meeting. (Photo: SGGP) That is the information given by the Ministry of Finance at a conference with ministries, agencies, and localities on the disbursement of foreign-funded public investment capital in the first 11 months of 2022 and solutions to accelerate disbursement in the last months of 2022, taking place on the morning of December 1. The accumulated disbursement plan for public investment loans from foreign capital in 11 months reached 26.06 percent, with VND9.01 trillion. The disbursement of ministries and agencies was VND4.15 trillion, reaching 35.17 percent, and the disbursement of localities was VND4.86 trillion, reaching 21.34 percent. The disbursement rate of public investment from domestic capital was about 60 percent of the plan. By November 30, the Ministry of Finance had received a proposal to reduce the capital plan of eight out of 13 ministries and agencies with a total proposed decrease of VND3.68 trillion, not including VND250 billion of … [Read more...] about Six ministries, four localities see zero percent disbursement rate

Chargé d’Affairs Mark Tattersall and six new private sector partnerships . (Photo courtesy of Australian Embassy to Vietnam) Hanoi (VNS/VNA) - Six new private sector partnerships announced under the Australian Department of Foreign Affairs and Trade ’s (DFAT’s) Business Partnerships Platform (BPP) will promote the growth of sustainable carbon markets that deliver significant social and environmental benefits to communities in Vietnam. The six multi-stakeholder partnerships, supported by an investment of 3.3 million USD from DFAT, will leverage more than 3.7 million USD in private sector investment and resources towards improving the enabling environment for carbon markets projects in Vietnam that are able to deliver verifiable and sustainable social and environmental outcomes. The new partnerships will test and trial new approaches within voluntary market frameworks to reduce greenhouse gas emissions, lower carbon market entry barriers for producers, build the … [Read more...] about Australia supports carbon market partnerships in Vietnam

The Ho Chi Minh City official applauded the establishment of a representative office of Leipzig city in the southern economic hub, expressing the hope that the office will contribute to further promoting trade and investment cooperation between the two sides. The municipal authorities will create favorable conditions for German businesses to invest and do business in  the locality, he stated, adding that Leipzig has strengths in industry, information technology and education, and these are also the areas which Ho Chi Minh City wants to develop. He thanked Leipzig’s authority for supporting Ho Chi Minh City in training, and sharing professional experience with local hospitals. He said Ho Chi Minh City is focusing on developing high-quality human resources, and has also been implementing projects related to digital transformation and development of smart cities, so the city wishes to receive more support from Germany in those fields. For his part,  Bonew affirmed the establishment … [Read more...] about Ho Chi Minh City eyes stronger cooperation with Leipzip of Germany

Chairman Vuong Dinh Hue congratulated the important achievements that Albanese's Government has made over the past six months, especially in economic development, social security and climate change response, affirming Australia's reputation and role in the international arena. For his part, PM Albanese emphasized that the official visit to Australia by Chairman Vuong Dinh Hue and the high-ranking delegation of the Vietnamese National Assembly is the first high-level visit between the two countries since they fully reopened their borders. It is of great significance in the context of the two countries preparing to celebrate the 50th anniversary of diplomatic relations next year, he said. He appreciated the practical results of his recent meetings with President Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh in the framework of the Asia-Pacific Economic Cooperation (APEC) Economic  Leaders’ Meeting and the Association of Southeast Asian Nations (ASEAN) Summits, respectively. … [Read more...] about National Assembly Chairman meets Australian Prime Minister

The Law on Land (LoL) and the Law on Residential Housing (LoRH) issued in 2013 and 2014, respectively, are among the main laws applicable to the property market. However, due to certain restrictions in the legal framework, foreign investment in Vietnam’s property market has not reached the level expected by authorities. The authorities are in the process of amending both laws, and the draft amendments have been published for public consultation. Thang Nguyen-Special counsel, ACSV Legal Foreign investors can put money into Vietnam’s property market through directly buying and reselling residential houses, developing real property projects for sale or for lease, or acquiring existing projects. For non-nationals looking to buy residential properties in Vietnam, the draft amended laws contain no notable change compared to prevailing laws. Currently, the total number of units owned by foreigners must not exceed 30 per cent of the total number of units in one condominium … [Read more...] about Law tweaks can allure real estate investors

A booth at the fairs (Photo:VNA) HCM City (VNA) – The Vietnam Supporting Industry Fair (VSIF) 2022 and the Vietnam Hardware & Hand Tools Expo 2022 (VHHE) kicked off in Ho Chi Minh City on December 1. Hosted by the municipal Department of Industry and Trade, the three-day events feature 255 booths from over 200 local and foreign businesses, and prestigious brands from 12 countries and territories around the world. They aim to improve competitiveness and promote industrial production cooperation between Vietnamese enterprises and foreign partners in Vietnam, and partnerships in supplying products to end-to-end production firms and foreign enterprises operating in the country. The VSIF 2022 displays components of products serving the supporting industry. Meanwhile, the VHHE showcases products with wide application in many industries from manufacturing, repairing, to assembling. Vice Director of the municipal department Nguyen Thi Kim Ngoc said the events are expected … [Read more...] about Trade fairs of supporting industry, hardware products open in HCM City

In the first 10 months, the textile and garment industry recorded about 38 billion USD in export value, up 17.2 per cent year-on-year. (Photo: moit.gov.vn) Hanoi (VNS/VNA) - The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030. By 2023, the industry plans to reduce energy consumption by 15% and water consumption by 20%. Green growth is an important part of sustainable development. In recent years, enterprises in the textile - garment - footwear industries have paid special attention to this issue. According to Truong Van Cam, VITA's general secretary, a greener textile and garment industry not only contributes to implementing the national strategy on green growth but also fulfils the requirements of large textile and garment import markets in the world, such as the European Union (EU). Vietnamese textile-garment and leather-footwear firms need to improve the … [Read more...] about Vietnam to reduce environmental impact of textile-garment industry by 2030

The Ministry of Health (MoH) is to work on a law on medical devices to increase efficiency of state management and create more favourable conditions for businesses. The focus is expected to be market authorisations (MAs) and drug tenders. Some legal barriers are expected to be settled imminently when in early November, Deputy Prime Minister Vu Duc Dam signed Resolution No.144/NQ-CP on ensuring drugs, medical equipment, and reimbursement of healthcare costs and health insurance. The government asked the ministries of health, finance, and planning and investment to quicken amendment and supplementation of legal documents related to purchasing, tenders, manufacturing, and import of drugs and medical devices to deal with the legal barriers. Decree 98 will affect medical devices from various major markets, Le Toan The MoH is asked to work with the Ministry of Justice and other relevant ministries and agencies on preparation for building of draft amendments to the Law on … [Read more...] about Hopes rise for legal medical reform

At the International Exhibition of Science and Technology Innovation, more than 400 leading Asian scientific and innovative works were selected from 16 Asia Pacific countries. Countries and ideas that bring scientific and creative achievements were celebrated at the conference held at the Coex convention centre. The Korea Invention Promotion Association awarded a silver medal to Nam Cau Kien Eco-Industrial Park The Vietnamese delegation to the conference included works that have won the Vietnam Innovative Science Prize - Vifotec 2021 and were selected by the scientific council of the organising committee as the leading scientists and economists in Asia. Nam Cau Kien Industrial Park, Hai Phong, was awarded a special creative award by the Masaei Charitable Association for Pham Hong Diep. The investor of Nam Cau Kien Industrial Park has successfully built an ecological industrial park model and was awarded a silver medal by the Korean Invention Promotion Association for … [Read more...] about Nam Cau Kien Industrial Park honoured at international innovation exhibition