Inside an FDI firm in Binh Duong province (Photo: baodautu.vn) Hanoi (VNA) – The southern province of Binh Duong attracted 1.3 billion USD in foreign direct investment (FDI) in the first half of 2019, according to the provincial People’s Committee. The figure helped raise the total capital registered of the province so far to 33.6 billion USD in 3,629 projects. The province, a magnet for foreign investment in the southern region, now has 29 industrial zones with a total area of over 12,700ha, of which 82.3 percent have been hired by enterprises. Foreign investors registered to pour 1.73 billion USD into Vietnam in June, bringing the total amount of FDI committed to the country in the first six months of the year to 18.47 billion USD, down 9.2 percent year on year. Among 19 fields and sectors receiving capital from foreign investors, manufacturing and processing led with 13.15 billion USD, accounting for 71 percent of the nation’s total FDI. Real estate came … [Read more...] about Over 1.3 billion USD in FDI poured into Binh Duong in H1
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Hanoi aims to draw 5.3 billion USD in FDI in six months
Illustrative image (Source: VNA) Hanoi (VNA) – Hanoi is striving to attract over 500 million USD in foreign direct investment (FDI) in June 2019, raising the total FDI capital to nearly 5.3 billion USD in the first half of the year, according to insiders. In January-May, Hanoi led the country in FDI attraction with 4.79 billion USD. Director of the municipal Department of Planning and Investment Nguyen Manh Quyen said Hanoi has been pushing ahead with administrative reforms and improvement of investment environment, as well as taking measures to ease difficulties for businesses, especially administrative procedures. The city strives to update all addressed administrative dossiers through the one-stop information system to lure more FDI projects, he said. The official added that the State budget will be prioritised for technical infrastructure projects and those playing key role in promoting socio-economic development. The city welcomes investment in high technology … [Read more...] about Hanoi aims to draw 5.3 billion USD in FDI in six months
Vietnam records trade deficit of 1.3 billion USD in May
Harvesting coffee for exports (Photo: VNA) Hanoi (VNA) - Vietnam recorded a trade deficit of 1.3 billion USD in May, resulting in a total deficit of 548 million USD for the first five months of the year, according to General Statistics Office (GSO)'s monthly report. The domestic sector reported a trade deficit of 13.3 billion USD in the period, while foreign-invested firms posted a trade balance of 12.7 billion USD. GSO statisticians blamed the return to a trade deficit on slowing growth of exports in May. In the first four months of the year, the country posted a surplus of 771 million USD. They said the country’s import-export turnover reached more than 202 billion USD in the five-month period, a year-on-year rise of 7 percent. However, this growth rate was much lower than 19 percent and 17.5 percent seen in the same periods of 2018 and 2019, respectively, with key export items such as rice, coffee and cashew nuts posting turnover reductions of between 14 and 23 percent. … [Read more...] about Vietnam records trade deficit of 1.3 billion USD in May
PM hopes for 3 billion USD in Vietnam-Belgium trade
Prime Minister Nguyen Xuan Phuc (right) and Belgian Ambassador Paul Jansen (Photo: baochinhphu.vn) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has suggested Belgian Ambassador Paul Jansen contribute to raising trade turnover between Vietnam and Belgium to 3 billion USD in the time ahead. At a reception for the newly-accredited ambassador in Hanoi on November 23, PM Phuc said the Vietnam-Belgium relationship has developed fruitfully across fields. However, the two-way trade at 2.3 billion USD in the first ten months of this year has yet to match potential and strength of each side. Recalling his official visit to Belgium last October, the PM said outcomes of the visit will create a firm foundation for strengthening the bilateral relations. He expressed his hope to welcome the Belgian Prime Minister in Vietnam as soon as possible. He told Ambassador Jansen that Vietnam has actively prepared for the EU-Vietnam Free Trade Agreement (EVFTA) and called on Belgium to back the … [Read more...] about PM hopes for 3 billion USD in Vietnam-Belgium trade
Fruit, vegetable exports valued at 3.3 billion USD
Vietnam earned some 3.3 billion USD from vegetable and fruit exports during January-October. (Photo: VNA) Hanoi (VNA) – Vietnam earned some 3.3 billion USD from vegetable and fruit exports during January-October, up 15.5 percent from the same time last year, the Agro Processing Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development has said. Of the total shipments, 90.3 percent were raw products while the processed ones only accounted for 9.7 percent. China remained the largest market of Vietnamese fruits and vegetables. Vietnam shipped nearly 2.2 billion USD worth of the products to the neighbouring country in the first nine months of the year, a year-on-year surge of 10.4 percent. Strong growth was seen in the exports to Thailand (35 percent), Australia (31.6 percent), the US (30 percent), and the Republic of Korea (24.4 percent). In October, Vietnam splashed out 134 million USD on purchasing foreign fruits and vegetables, raising … [Read more...] about Fruit, vegetable exports valued at 3.3 billion USD