Workers shovel coffee beans at a Laos-based plant of the Thai Hoa Group. Viet Nam has become the leading foreign investor in Laos, taking the top position from China and Thailand. — VNA/VNS Photo Tran Viet LAOS — Viet Nam has become the leading foreign investor in Laos, taking over the top position from China and Thailand, according to a newsletter issued by the Lao Ministry of Planning and Investment's Investment Promotion Department. Vietnamese firms invested in 252 projects in Laos in the decade between 2000 and 2010, worth a total of about US$2.77 billion and putting Viet Nam ahead in the country's foreign investor rankings for the first time in a decade, the newsletter said. Chinese firms have invested in 397 projects worth about $2.71 billion over the past decade, putting them in second place, while Thailand invested in 276 projects worth $2.68 billion. "The value of Vietnamese investment has exceeded that of China and Thailand since the end of last year," the deputy … [Read more...] about VN leads foreign investment in Laos
Laos foreign investment
Hanoi suggests applying strict rules to control foreign invested property projects
VietNamNet Bridge – Ninety five foreign invested real estate projects have been licensed in Hanoi. However, many investors have not moved since the day they got the licenses. According to VnMedia newspaper, 88 out of the 95 projects have been allocated land totaling 1500 hectares. These include 17 shopping mall projects, 66 office buildings for lease, and five golf course and park projects. Three investors reportedly have not fulfilled the site clearance work. Of the seven projects, the city’s authorities have assigned the Hanoi Land Fund Center to implement the site clearance for three projects in the West Lake project, Yen So Park and Biotech Park. A report by the Hanoi Planning and Investment Department shows that 82 out of the 88 projects have kicked off, but the implementation has been going very slowly. Some investors have found as to spontaneously not following the approved planning without the permission of the watchdog agencies. Euroland project developed by … [Read more...] about Hanoi suggests applying strict rules to control foreign invested property projects
Foreign investment in agriculture still meager
Foreign investment in agriculture still meager Ngoc Hung By Ngoc Hung - The Saigon Times Daily HCMC – The agricultural sector has remained unattractive to foreign investors, which is evident in its small proportion in total foreign direct investment (FDI) approvals. Those FDI projects committed to the agriculture sector are small, the Ministry of Agriculture and Rural Development said at separate meetings held last week with relevant agencies in preparation for a draft decree on foreign investment in agriculture. By end-2014, agriculture had lured 512 FDI projects worth a combined US$3.43 billion, making up 3% of the total number of FDI projects and 1.35% of total capital pledges nationwide, data of the ministry shows. Chronic problems with infrastructure, human resources, material sources, land and production, as well as lack of policies and strategies conductive to FDI activity are to blame, according to the ministry. Recently, a South Korean firm approached a local real … [Read more...] about Foreign investment in agriculture still meager
Vietnamese foreign investment strongly rises
The Hanoitimes - Vietnamese businesses invested US$2.658 billion abroad in the first quarter of 2013, US$1.112 billion more than the whole year of 2012, including US$720.7 million worth of capital of 22 newly licensed projects and US$1.9 billion worth of increased capital in five other projects. According to the Foreign Investment Agency (FIA) of the Ministry of Planning and Investment, the Russia-based project of the Viet Nam National Oil and Gas Group’s (PVN) RusVietpetro joint venture, which increased its capital to US$1.4 billion, and the Viet Nam National Chemical Group’s salt exploration project in Laos, which increased its capital by US$518.9 million, are the most notable projects among the five projects that increased their capital. Of all registered Vietnamese investment capital abroad in the first quarter of 2013, 72.3% were focused on mining, 12.6% in catering and hospitality, and 8.9 percent in the information and communications sector. In the first quarter … [Read more...] about Vietnamese foreign investment strongly rises
Hai Phong facilitates foreign investment in 2013
(VOVworld) – Hai Phong city seeks to attract about 1.5 billion USD in foreign investment in 2013. To do so, the city’s authorities will create favorable conditions for investors in infrastructure, land and administrative procedures. Priority will be given to major corporations operating hi-tech, energy saving and non-pollutant projects. Tran Thi Hai Yen from Hai Phong’s Department of Planning and Investment told VOV: “Hai Phong city will continue to improve our investment environment, focusing on administrative reforms, infrastructure, convenient facilities and human resource development. We also encourage our businesses to invest overseas, including Laos and Myanmar”. In addition, Hai Phong city assists enterprises that are engaged in auxiliary industry, contributing to economic restructure. … [Read more...] about Hai Phong facilitates foreign investment in 2013