Investing

The province is home to 12 FDI projects, mostly from France, India, Japan, the Netherlands, the Republic of Korea, Thailand and the UK, with total registered capital of US$171 million. Notably, the coffee processing sector has four FDI projects valued at nearly VND1.46 trillion (US$64.2 million).  An Indian-invested coffee plant was established in the province, which can produce 10,000 tonnes of instant coffee and 6,000 tonnes of liquid coffee and trade 12,000 tonnes of robusta coffee per year. Another coffee processing company invested by the UK, Dakman Co.,Ltd, can produce 50,000 tonnes of robusta coffee and 5,000 tonnes of cocoa per year. The provincial People’s Committee said that FDI attraction still lags behind local development demand. Dak Lak is working to lure FDI  in agriculture, renewable energies and tourism. Along with renewing methods of investment promotion, the province is providing online public administrative services to aid investors. … [Read more...] about Dak Lak- a magnet for foreign direct investment

The main reason for amending the Public Investment Law is ‘difficulty in the implementation’. Is this true? Pressure has been put on the Ministry of Planning and Investment (MPI), the agency in charge of managing public investment capital. Just three years after the 2014 Public Investment Law took effect, it has to propose to the National Assembly to amend the law because of ‘difficulties in the implementation’. The law faces a lot of criticism as it sets new complicated procedures which place difficulties on central and local agencies. It is believed to be the reason behind the low disbursement rates which have adverse effect on economic development. However, the explanation proves to be unconvincing. The disbursement of public investments in Vietnam, before and after the Public Investment Law took effect in 2015, has never been lower than planned. The disbursement rate is low, but the figure for all the year is always higher than the figures approved by the … [Read more...] about Public investment remains uncontrolled, like a restive horse

An overview of Bac Giang province (Photo: VNA) Bac Giang (VNA) – The northern province of Bac Giang is working out measures in an effort to attract 2 billion USD in domestic and foreign investment in 2018. Priority will be given to projects in the fields of transport, energy, key urban area development, supporting technology for garment-textile and footwear sectors, hi-tech industry, spare parts, hi-tech agriculture, and farm produce preservation and processing. The province will also focus on developing various forms of tourism such as spiritual tourism, eco-tourism, and resort tourism with hi-end hotels. To realise the target, the local authorities have requested investors of industrial parks to speed up the completion of technical infrastructure. The province is accelerating the compensation payment for land clearance at Hoa Phu industrial park and selecting investors to build infrastructure at Vietnam-Korea industrial park. It also asked the Embassies of Japan and the … [Read more...] about Bac Giang aims to draw 2 billion USD in investment this year

Workers at the New Wing Interconnect Technology Co. (Photo: bacgiang-iza.gov.vn) Hanoi (VNA) - Singapore-invested New Wing Interconnect Technology Co. in the northern province of Bac Giang has raised the investment capital of its project by 110 million USD. With the latest addition, the plant, which manufactures headphones and wires, will have total investment capital of 210 million USD, becoming one of the largest foreign-invested projects in Vietnam in the first two months of this year, baodauthau.vn reports. Covering more than 60,000sq.m in the Van Trung Industrial Zone, the plant manufactures nearly 225 million products each year. In the two-month period, Bac Giang lured 125 million USD in foreign investment capital (FDI), ranking 12th among 63 localities nationwide in terms of FDI attraction, statistics from the Foreign Investment Agency showed. [FDI up 2.5 times in first two months of 2019] As of February, the province was home to 434 foreign-invested projects, with … [Read more...] about Singapore headphone firm ups investment

The country has seen a soar in investment this year (Photo: soha.vn) Hanoi (VNA) - Venture capital funding pouring into Vietnamese fintech companies accounted for 36 percent of the total fintech investment in Southeast Asia. The country has seen a soar in investment this year compared to 0.4 percent last year, according to the Fintech in ASEAN report released by the United Overseas Bank (UOB). Singapore took the leading position with 51 percent, down from 53 percent last year. Indonesia stepped down one place to third with 12 percent, compared to 37 percent last year. Thailand, Malaysia and the Philippines accounted for less than 2 percent of Southeast Asia's total fintech investment, down sharply from about 10 percent last year. In Vietnam, the leading field attracting venture capital in fintech companies was payment. VNPay, a Vietnamese e-payment solutions provider, took the lead in the report with total capital revealed to be 300 million USD this year. Singaporean insurance company … [Read more...] about Vietnam ranks second in fintech investment in Southeast Asia