Hanoi attracted US$1.56 billion in FDI in the first five months of this year, it was reported at a video meeting of the municipal People’s Committee on May 29.
Hanoi hopes to attract a total investment of US$38.3 million in the first half of 2020, equivalent to 64% of the figure in the same period last year.
Vietnam has some great advantages while competing with regional countries in attracting capital flows after the COVID-19 pandemic, experts have said.
VOV.VN - Vietnam is fast emerging as one of the leading destinations for foreign investment, with global giants such as Apple, Foxconn, and Panasonic all making moves to shift their production lines following the easing of the threat of the novel coronavirus (COVID-19), despite this, the nation still faces major hurdles ahead.
Foreign investors are speeding up the restructuring and reallocation of their production networks globally, with Vietnam considered a bright candidate for investment given its location within the world’s most dynamically-developing region.
Many investors have considered Vietnam as a safe investment destination with a lot of advantages after the COVID-19 pandemic is pushed back, heard a meeting of permanent government members chaired by Prime Minister Nguyen Xuan Phuc in Hanoi on May 22.
The southern province of Bac Lieu topped the country in attracting foreign investment in the first four months of 2020 with a single project worth US$4 billion producing electricity from LNG, the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) has reported.
Singapore rose to become the biggest foreign investor in Vietnam in the first four months of 2020 with US$5.07 billion, accounting for 41% of the total.
VOV.VN -Prime Minister Nguyen Xuan Phuc urged local businesses to make every effort to restart the national economy in an attempt to achieve GDP growth of over 5% during the course of the year, while chairing a national videoconference with businesses in Hanoi on May 9.
Transnational businesses are considering shifting their facilities, and Vietnam should prepare to welcome a wave of investment, Minister – Chairman of the Government Office Mai Tien Dung said on May 5.
The building material sector would be among the first to benefit from the Government’s efforts to speed up disbursement of public investment, which was identified as a growth driver as the COVID-19 pandemic cast a shadow on the economy.
VOV.VN - The first four months of the year saw both the export and import turnover of foreign-invested economic sectors through ports in Ho Chi Minh City enjoy high levels of growth as the state economic and non-state economic sectors endured severe drops due to the impact of the recent global economic downturn.
Foreign direct investment (FDI) disbursement in the central city of Da Nang has neared VND1.8 trillion (US$76.54 million) since the start of 2020, a year-on-year surge of 92.1% despite the COVID-19 pandemic, according to the city’s statistics office.
Vietnam attracted US$12.33 billion in foreign direct investment (FDI) in the first four months of 2020, a year-on-year decrease of 15.5% due to the impact of the COVID-19 pandemic, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
The COVID-19 pandemic has had a serious impact on Vietnam’s economy but it’s also believed to create the conditions to attract more foreign direct investment (FDI) as there have been signs of a switch in capital flows away from China and to ASEAN member countries.
The 10th HCM City Party Committee convened its 40th meeting on April 16 using teleconferencing.
Export processing and industrial zones in Ho Chi Minh City attracted US$117 million worth of investment in the first quarter of the year, a 86% increase compared to the same period last year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
The central province of Quang Nam expects to welcome more FDI projects promoting green growth, according to Chairman of the provincial People’s Committee Le Tri Thanh.
Many enterprises in the manufacturing and processing industry are optimistic about the outlook for the second quarter of 2020, according to a survey conducted by the General Statistics Office (GSO).
VOV.VN - Many foreign direct investment (FDI) businesses are taking the full brunt of the novel coronavirus outbreak (COVID-19) and they are in dire need of support from the government to weather the storm.