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HANOI

PERFORMANCE

Glamour 2

8pm on April 24

L’Espace

2 Trang Tien Street, Hoan Kiem District,

A new music programme entitled “Glamour 2” should be a journey filled with nostalgia but full of new discoveries, honour notable French songs.

The event features the participation of foreign artists: pianist Max Schwingeling, guitarist and singer Kenjah David, guitarist Guillaume de Miribel, percussion artist Christopher Michael and bass artist Oosamu Sakurai; as well as Vietnamese singer Hua Thanh Tu and the Bamboo Tambourine group.

Ticket: VND200,000

Promotional ticket: VND150,000 (until April 17).

EXHIBITION

‘Virtual Private Realms’ Exhibition

Manzi Art Space

14 Phan Huy Ich Street, Ba Dinh District,

The exhibition ‘Virtual Private Realms’ brings together the works of 7 artists: Lananh Le, Din Sama, Nguyen Duc Huy, mi-mimi, Nghia Dang, Trinh Cam Nhi, and Ha Ninh, with a focus on their painting practices.

Belonging to the 9X (millennial) generation, these artists have contributed to a new wave of practitioners in the Vietnamese art scene.

Exhibition: Eyes without a Face

The exhibition area inside the Japan Foundation library

27 Quang Trung, Hoan Kiem District,

Eyes without a Face is a project co-organized by the Japan Foundation Center for Cultural Exchange in Vietnam and Manzi Art Space, with support from the Goethe-Institut, and other organizations, individuals as well as close friends.

Exhibition: Retro

The Muse Art Space

47 Trang Tien Street, Hoan Kiem District,

RETRO is an exhibition that goes back in time. Retro is also a popular term in fashion, furniture design, and art.

The RETRO exhibition will present paintings and objects in line with the modern intellectual culture world in Vietnam, mostly from the beginning to the middle of the 20th century.

HO CHI MINH CITY

EXHIBITION

Exhibition “The Resonance of remembrance”

Vy Gallery

20 Nguyen Van Thu, Da Kao, District 1,

“The Resonance of remembrance” exhibition has been organised on the occasion of the whole country celebrating the biggest holiday, National Reunification – April 30.

The exhibition consists of 5 works, including 4 lacquer works and 1 oil painting for the purpose of conveying to the public the message of spiritual, historical and artistic values of the wars to preserve the country’s peace.

There were 1,418 newly licenced projects during the Jan-June period, with registered capital of US$8.44 billion. There were 526 licenced projects from previous years registered as having adjusted their investment capital with additional capital of US$3.7 billion, up 26.8%.

During the six-month period, 4,125 foreign investors contributed capital and purchased shares with a total value of nearly US$3.51 billion, up 2.6%.

During the period, the processing and manufacturing industry witnessed the largest volume of newly licenced FDI projects, reaching US$8 billion, accounting for 51.1% of total newly registered capital. It was followed by the production and distribution of electricity, with US$3.95 billion, accounting for 25.2%; wholesale and retail (US$1.08 billion); and real estate (US$850 million).

Among the 98 countries and territories registering new projects in Vietnam in the first six months, Singapore was the largest investor, with US$5.44 billion, accounting for 34.7% of the total, followed by Thailand with US$1.58 billion (10.1%), China with US$1.58 million (10.1%) and then Japan, the Republic of Korea, and Taiwan (China).

Among the 57 localities receiving FDI in the six-month period, the southern province of Bac Lieu ranked top with US$4 billion. Ho Chi Minh City came next with over US$2 billion and Ba Ria – Vung Tau placed third with US$1.95 billion, followed by the capital Hanoi, Binh Duong province and Hai Phong city.

Thùy Vân Beach in Vũng Tàu City. The number of visitors to Bà Rịa-Vũng Tàu Province in the first quarter doubled from a year earlier to 1.8 million. VNA/VNS Photo Duy Khương

HCM CITY — Bà Rịa-Vũng Tàu managed to achieve positive economic growth in the first quarter of 2021 driven by a surge in industrial production, port services and domestic travel.

Speaking at a meeting held on Friday to review the socio-economic development for the quarter, deputy secretary of the provincial Party Committee, Nguyễn Thị Yến, said key economic sectors achieved growth during the quarter.

The province achieved the dual goal of containing COVID-19 while ensuring economic growth, she said.

So its revenues rose by 6.7 per cent to more than VNĐ22 trillion (US$953.46 million), she said.

Industrial production value excluding oil and gas rose by 7.3 per cent year-on-year.

The value of port services jumped by 9.6 per cent.

The province speeded up work on some crucial transport projects to facilitate connectivity to the Cái Mép-Thị Vải port complex in Phú Mỹ Town.

The tourism sector saw a robust recovery, with the number of visitors in the first quarter doubling from a year ago to 1.8 million.

In the second quarter, the province plans to focus on improving its business climate and competitiveness to attract foreign investment. —VNS

Sharp increases in capital contributions and share purchase

According to the Ministry of Planning and Investment (MPI), there were 1,321 valid projects invested in by Vietnamese enterprises abroad with a total registered capital of US$20.6 billion by the end of 2019. The disbursement of the investment capital was US$9.49 billion by the end of the same year.

Vietnamese enterprises have invested in 78 countries and territories across the world with the largest investments poured into Laos, Russia, Cambodia, Venezuela, and Myanmar. Enterprises invested in 18 key industries and sectors with the biggest capital running in the oil and gas industry, accounting for 38.4% of the total offshore investment capital.

About 15.3% of the investment capital was poured into agricultural, forestry and fishery sector while 12.8% of the capital was invested in telecommunications and information technology and 7.2% of the capital went into the hydroelectricity sector.

The number of small and medium-sized projects run by the private sector has increased over the years while the number of large-scale projects run by State-owned enterprises in the areas of oil and gas exploration and extraction, telecommunications, industrial crops and hydroelectricity has fallen sharply.

The volume of investment capital transferred abroad has tended to decrease since the 2015-2017 period due to a plummet in the number of large projects.

According to the MPI, accumulated profits transferred to Vietnam from abroad was approximately US$3 billion while the profit retained for reinvestment was about US$363.4 million. Nearly 10,000 Vietnamese workers have been sent abroad to work.

In addition, Vietnamese enterprises have established a significant amount of assets abroad including factories and production facilities worth billions of US dollars. These are favourable conditions for Vietnamese enterprises to expand their overseas investment and business activities in a context of deeper international economic integration.

Notably, investment abroad in 2019 was entirely implemented by the private sector with no projects conducted by State-owned enterprises. More and more large private corporations and domestic joint stock companies have invested in developed countries in order to expand their market and affirm their brands such as Vingroup, Vietjet, Thaco, T&T, Vinamilk, FPT, and others.

Investment forms are also diverse with an increasing number of investment projects in the form of capital contributions and share purchase in foreign enterprises.

Minister of Planning and Investment Nguyen Chi Dung said that there are Vietnamese enterprises that have spent US$3-5 million to buy shares of foreign enterprises that are now valued in the hundreds of millions of US dollars.

Major global changes due to the COVID-19 pandemic have led to a wave of mergers and acquisitions through capital contributions and share purchase at potential companies for very cheap prices. Vietnamese enterprises need to have big aspirations to participate in this market segment to accelerate the process of reaching out to the world and bringing greater value into the country.

To date, five Vietnamese enterprises have invested abroad with registered capital of over US$1 billion each including the Vietnam Oil and Gas Group (Petrovietnam), Military Industry and Telecoms Group (Viettel), Vietnam Rubber Group, Hoang Anh Gia Lai Group, and Long Thanh Golf Investment and Trading JSC.

Besides these impressive achievements, there remain inadequacies including legal risks, international lawsuits and disputes, slow progress of projects, and ineffective implementation of projects, among others.

According to experts, the change in the investment tendency of Vietnamese enterprises in recent years has been market-oriented and consistent with the process of trade and investment liberalisation and international economic integration.

There is large room and great potential in international markets, thus, the most important thing for offshore investment is to perfect mechanisms and policies and create more favourable conditions for private enterprises to easily invest their resources abroad in order to transfer the profits to Vietnam. Meanwhile, enterprises need to improve their governance capacity, their ability to grasp the market and sufficiently strong cash flows.

The amended Law on Investment which will take effect on January 1, 2021 has completed policies on investment abroad regarding clear updates of cases prohibited from investment abroad, conditions accompanied with investment abroad, lending abroad, reporting the process of State management agencies related to investment abroad, the use of profits from overseas projects to contribute to other projects abroad, and others.

To prevent risks in offshore investment activities, the MPI has proposed the Government assign relevant agencies to review and evaluate investment trends abroad in the areas of real estate and the investments of foreign investors in Vietnam abroad in order to devise timely solutions to problems arising.

In addition, Vietnam should boost negotiations and early signing of investment promotion and protection agreements with countries receiving large investment from Vietnam or with Vietnam’s potential partners to create a legal framework for safe and effective investment abroad.