Vietnam’s business climate is anticipated to improve in the second half of 2017, but economic growth will be at 6.5 percent, falling short of the Government’s target.
The central city of Da Nang has listed 68 Public-Private Partnership (PPP) projects, 22 of them in the hi-tech sector, calling for investment from domestic and foreign businesses in the 2017-20 period.
The southern province of Dong Nai has given priority to foreign direct investment (FDI) projects using advanced technologies and fewer workers in recent years, said Deputy Director of the provincial Department of Planning and Investment Nguyen Huu Nguyen.
Although Vietnam’s business community has been the backbone of the country’s market-based economy over the past decades, it has experienced its share of ups and downs.
VOV.VN - Vietnam’s total FDI registered hit nearly US$22 billion during the six months leading up to July, a 52% increase over the same period last year.
Many leading fashion houses have switched from Chinese to Vietnamese makers of leatherware, acknowledging the improved quality of leather craftsmanship in Vietnam, industry insiders say.
Regional trade pacts and business climate improvements have made Vietnam become a manufacturing hub for ASEAN investors and firms.
In addition to the wave of investments in the banking and finance sector from financial institutions in Japan, UK, Hong Kong, Singapore, Malaysia and the US, there will be a marked presence of South Korean banks in the Vietnamese market in the near future, observers forecast.
Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of US$180.68 billion as of late June, according to the Ministry of Planning and Investment (MPI)’s Overseas Investment Agency.
This business is one of more than 1,000 foreign enterprises granted investment licences in Vietnam in the first six months of 2017. Notably, this is a research and deployment project, expecting to bring high added value to the country’s economy.
Nearly US$428 million in foreign direct investment (FDI) was disbursed in the southern province of Dong Nai since the beginning of this year, equivalent to 54% of its annual plan.
Vietnam’s biggest trade deficit is now with the Republic of Korea (ROK), followed by China.
VOV.VN - The Red River Delta province of Ha Nam has so far this year attracted 46 projects, including 10 foreign direct investment (FDI) projects, with total registered capital of nearly US$194 million.
The southern province of Binh Phuoc has attracted eight foreign direct investment (FDI) projects, with a combined registered capital of US$31.8 million in the first six months this year.
Indexes for 2017 second quarter reflected Vietnam’s increasing dependence on foreign direct investment (FDI), said the Vietnam Institute for Economic and Policy Research (VEPR) in its recent report on the performance of the economy in the quarter.
Vietnam has surpassed Malaysia to become a bigger source of earnings for Japanese firms, according to the Bank of Japan (BoJ).
The northern province of Quang Ninh drew in more than US$47 million in foreign direct investment (FDI) in the first six months of 2017.
The southern province of Tay Ninh attracted 298 domestic and foreign-invested projects worth over US$5 billion as of the late June.
More and more domestic and foreign investors have poured cash into the Central Highlands province of Dak Lak in recent years, contributing to the local socio-economic development, according to the provincial People’s Committee.
The Mekong Delta province of Kien Giang licensed 24 projects, including three foreign direct investment (FDI) projects, with a combined registered capital of US$1.77 billion, 3.6 times higher than the number of 2016.