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Vietnam lures 5.46 billion USD in foreign investment

February 25, 2021 by en.vietnamplus.vn

Vietnam lures 5.46 billion USD in foreign investment hinh anh 1 As much as 5.46 billion USD worth of foreign direct investment (FDI) is injected into Vietnam as of February 20. (Photo: VNA)

Hanoi (VNA) – As much as 5.46 billion USD worth of foreign direct investment (FDI) was injected into Vietnam as of February 20, equivalent to 84.4 percent of the figure recorded in the same time last year, according to the Ministry of Planning and Investment .

As many as 126 foreign projects were granted investment licences with total registered capital of 3.31 billion USD, a year-on-year fall of 33.9 percent.

Meanwhile, 115 existing projects adjusted their investment capital with a total additional sum of 1.61 billion USD, or 2.5 times higher than the same time last year.

Capital contributions and shares purchases by foreign investors stood at 543.1 million USD, down 34.4 percent.

Foreign investors pumped capital in 17 sectors, with processing and manufacturing holding the lead with over 3 billion USD or 55.7 percent, followed by power production and distribution with 1.44 billion USD (26.5 percent), real estate 485 million USD, and science-technology nearly 153 million USD.

Japan topped the list of 46 countries and territories landing investment in Vietnam , with 1.64 billion USD, equivalent to nearly 30 percent of the total. Singapore came second with 1.07 billion USD (19.6 percent), and the Republic of Korea third with 1.05 billion USD (19.3 percent).

The ministry said the southern province of Can Tho lured the lion’s share of FDI with 1.31 billion USD, accounting for 24.2 percent of the total. Hai Phong city was the runner-up since it attracted nearly 918 million USD, or 16.8 percent. Bac Giang came third with nearly 573 million USD (10.5 percent).

So far this year, the foreign-invested sector has earned 38.07 billion USD from exports, up 34 percent year-on-year, and making up 76.1 percent of the nation’s total export turnover. At the same time, it spent 31.6 billion USD on imports, up 31.2 percent year-on-year, and accounting for 66.6 percent of the country’s total import value. That resulted in a trade surplus of nearly 6.5 billion USD./.

VNA

Filed Under: Business foreign direct investment (FDI), Vietnam, Ministry of Planning and Investment, investment licences, foreign-invested sector, trade surplus, Vietnam News Agency, ..., vietnam foreign investment, vietnam foreign direct investment, foreign investments in vietnam, Foreign Investment in Vietnam

VN responsible member of international community, observes international law: Spokesperson

February 25, 2021 by vietnamnews.vn

The Arleigh Burke-class guided-missile destroyer USS John S. McCain (DDG 56) transits through South China Sea while conducting routine underway operations, February 5, 2021. — Photo from the US Department of Defense

HÀ NỘI — Việt Nam is a responsible member of the international community and always upholds provisions under the United Nations Convention on the Law of the Seas (UNCLOS 1982), spokesperson for the foreign ministry Lê Thị Thu Hằng said.

She made the statement on Thursday in the regular press briefing, held virtually this time due to COVID-19 in Hà Nội, when asked for Việt Nam’s reaction to the US Navy’s first freedom of navigation operation (FONOP) held under the Biden administration in February.

The guided-missile destroyer USS John S. McCain reportedly conducted the FONOP near the Trường Sa (Spratly) and Hoàng Sa (Paracel) archipelagoes in the South China Sea (known as the East Sea by Việt Nam) over which Việt Nam has repeatedly claimed sovereignty, but contested by mainland China and China’s Taiwan.

“By engaging in innocent passage without giving prior notification to or asking permission from any of the claimants,” the US Navy noted in a statement.

Also regarding the recent statement by French Minister of Armed Forces Florence Parly that France had sent the nuclear submarine, SNA Emeraude, to patrol the South China Sea, together with the naval support ship BSAM Seine, the said spokesperson said: “As a responsible member of the international community and a signatory of the UNCLOS 1982, Việt Nam always upholds the provisions of the UNCLOS, including items related to maritime and flight activities over the sea regions set up in accordance with UNCLOS 1982.”

“The maintenance of peace, stability, security and order, safety, maritime and overflight freedom, the rule of law, with respect to sovereignty, sovereign rights and jurisdiction of the littoral countries in the South China Sea, in a manner that is consistent with the UNCLOS 1982, is the shared goal, interests, responsibility, and aspiration of all countries and of the international community,” Hằng said.

Việt Nam hopes that all countries would strive for “positive contribution” to the maintenance of peace and stability on the basis of international law in the South China Sea region, the Vietnamese diplomat stressed. — VNS

Filed Under: Uncategorized COC, ASEAN-China, code of conduct, South China Sea, Vietnam News, Politics, Business, Economy, Society, Life, Sports, Environment, Your Say, English Through the..., community property law california, supply chain intern responsibilities, community emergency response team cert training, define internal communication, mensa international members, internal response, community social responsibility, internal social responsibility, fiduciary responsibility law, girl scout member community, member focus community credit union, delta community credit union member number

Vietnamese leaders extend congratulations on Japanese Emperor’s birthday

February 24, 2021 by en.vietnamplus.vn

Vietnamese leaders extend congratulations on Japanese Emperor’s birthday hinh anh 1 Japanese Emperor Naruhito (Photo: AFP/VNA)

Hanoi (VNA) – Party General Secretary and State President Nguyen Phu Trong has extended a message of congratulations to Japanese Emperor Naruhito on his 61st birthday on February 23.

Prime Minister Nguyen Xuan Phuc also sent a congratulatory message to his Japanese counterpart Suga Yoshihide.

On the occasion, Deputy PM and Minister of Foreign Affairs Pham Binh Minh congratulated Japanese Minister for Foreign Affairs Motegi Toshimitsu.

Naruhito became the 126th Emperor of Japan on May 1, 2019, starting the new imperial era of Reiwa.

After Vietnam and Japan established diplomatic ties on September 21, 1973, the bilateral relationship has experienced rapid development over the past years.

Japan has been a leading important economic partner of Vietnam, becoming the largest official development assistance (ODA) provider, second biggest investor, third largest tourism partner and fourth largest trade partner of the Southeast Asian country./.

VNA

Filed Under: Uncategorized Japanese Emperor Naruhito, message of congratulations, Vietnam-Japan relations, economic partner, vietnamplus, vietnam news agency, Politics, Japanese Emperor..., korean chinese japanese vietnamese, korean chinese vietnamese japanese, vietnamese how to say happy birthday, abdication japanese emperor, ceremony japanese emperor, congratulate ex on birthday, ww2 japanese leader, japanese military leaders, japanese military leader

Vietnamese female CEOs listed among top global business leaders

February 25, 2021 by vietnamnet.vn

The achievements of Vietnamese women “steering” large corporations have been recognized internationally.

Vietnamese female CEOs listed among top global business leaders

Nguyen Thi Bich Van

In early 2021, on its Facebook page, IBM Vietnam for the first time announced the appointment of a female Vietnamese CEO to replace a foreign CEO who had been working for IBM for 25 years.

The woman, Pham Thu Diep, is the first IBM’s ‘female general’ in the company’s 25 years of operation in the Vietnamese market.

It is now more common to see women managing large corporations in Vietnam such as Mai Kieu Lien, CEO of Vinamilk; Nguyen Thi Nga, president of BRG; Nguyen Thi Phuong Thao, CEO of Vietjet; and Le Thi Thu Thuy of VinFast are some of the names.

However, becoming a CEO of a foreign invested technology firm is still rare in Vietnam.

Before taking the office as CEO of a technology firm, Diep was a high ranking manager with 23 years of experience in the IT field. Starting her career at TRG International, she later held posts at Exact, which provides ERP service and cloud software to clients specializing in accountancy.

Diep joined IBM in early 2011 and has had many leadership positions since then.

In 2017, a Vietnamese woman became the highest ranking leader of Unilever Vietnam, a foreign invested enterprise specializing in personal and family care products and food. The first Vietnamese female president of the leading company in the FMCG sector is Nguyen Thi Bich Van, who has had a strong attachment to the company for the last 24 years.

Le Diep Kieu Trang is another well known name among businesswomen. She worked as CEO of Facebook and Go-Viet before choosing a new way to go.

The ‘golden girl’ with respectable achievements during school has had leadership positions at the world’s largest groups in Vietnam.

The brilliant achievements gained by VietJet Air, the air carrier with the largest market share, in the last decade bear the hallmark of CEO Nguyen Thi Phuong Thao. Last year Vietjet was one of only a few air carriers in the world which did not lay off workers and also made a profit, despite the Covid-19 crisis.

After a period of holding the post of CEO at Fossil Vietnam, Trang chose Facebook to use her experience to connect to the business community, both in Vietnam and overseas.

Global vision

Van said in Forbes Vietnam that being a leader in a multinational environment requires a high level of professionalism. She needs to understand multinationals’ vision and define their role in the multinationals’ business.

The working environment at multinationals is very diverse, so there is high requirement on the ability to work, communicate, and think in that environment. To encourage people to raise good ideas, leaders not only need to understand national cultures, but also understand the abilities of each worker so as to combine their talents and lead the staff to the finish point.

According to Van, this is not an easy work, because the more talented people there are, the more difficult it is for the team to reach a common purpose. In modern times, CEOs need to not ‘issue orders from the top down’, but ‘serve others’. They need to set orientation and then give power to workers to implement the strategies.

Some important positions at foreign corporations were and are held by Vietnamese women. These include Nguyen Phuong Anh, who worked as Google Asia Pacific marketing director in charge of the Vietnamese market; and Nguyen Mai Phuong, who became the youngest branding director of Unilever at the age of 24.

Vietnamese businesswomen also play an important role in the development of Vietnamese enterprises.

The brilliant achievements gained by VietJet Air, the air carrier with the largest market share, in the last decade bear the hallmark of CEO Nguyen Thi Phuong Thao. Last year Vietjet was one of only a few air carriers in the world which did not lay off workers and also made a profit, despite the Covid-19 crisis.

Thao has been included in Bloomberg’s list of 50 global influential leaders for many years. Thao is also chair of the board of directors and founding shareholder of Sovico Holdings, and deputy chair of HDBank.

In the manufacturing sector, Le Thu Thuy, president of VinFast, is a respectable name. Just within a short time, VinFast introduced its first two products – LUX A2.0 sedan series and LUX SA2.0 SUV at Paris Motor Show 2018. Most recently, its first three SUV smart electric cars were launched.

The great strides made by VinFast has created a stronger belief in the future of Vietnam’s automobile industry. This is the first time in history that a Vietnamese company can manufacture luxury cars with good design and high quality, to be sold in Vietnam and in the world market as well.

V. Ha

Filed Under: Uncategorized female CEO, global business leaders, Covid-19, vietnam economy, Vietnam business news, business news, vietnamnet bridge, english news, Vietnam news, vietnamnet..., what makes a good business leader, role of ceo in small business, jeunesse global business, female deities list, what is a global business, mba global business, mba global business jobs, how to start a global business, european business leaders, global business challenges faced by business, male female gender list, female archetypes list

Seven batches of COVID-19 vaccines set to arrive in Vietnam

February 25, 2021 by vov.vn

The initial batch of 117,000 COVID-19 vaccines from AstraZeneca arrived in the country on February 24. They are to be prioritised specifically for those on the frontline of the fight against the pandemic, including medical workers, doctors, nurses, contact tracers, and officials on COVID-19 prevention and control committees.

The second batch, expected to arrive within the first half of this year, will be made up of 1.5 million additional doses, of which 1.2 million will be provided by COVAX, with the rest made up of those by AstraZeneca. These doses will also be prioritised for those on the frontline of the fight against the pandemic, with the addition of diplomatic personnel, customs officers, immigration officers, and soldiers.

The third batch is set to arrive within the second quarter and will include 8.2 million additional doses from AstraZeneca. Soldiers who have are not inoculated during the second wave of vaccines, along with police officers, teachers, and the elderly, those aged 80 and above, will be vaccinated during this period.

The fourth batch is expected to arrive within the third quarter and will consist of 10.9 million doses, including 3.6 million from COVAX with the remainder coming from AstraZeneca. At this point, the elderly who have not been vaccinated, along with those working in essential businesses and those suffering from chronic conditions, will be inoculated.

The fifth batch is anticipated to arrive between the fourth quarter of this year and the first quarter of 2022, and will be made up of 14.4 million doses by AstraZeneca for those suffering from chronic conditions and those who have not yet been vaccinated.

The sixth batch will come within the same time frame as the fifth and will include 25.2 million COVAX doses for those with chronic conditions and individuals who have not yet been vaccinated, along with those aged between 65 and 80.

The final batch is set to arrive between the second quarter and fourth quarter of 2022 and will be made up of 90.5 million doses from both foreign and domestic producers. They will be administered to those aged between 65 and 80, in addition to those who have not been vaccinated, along with those aged 18 and above who have not been included in the aforementioned priority list.

According to the National Steering Committee for COVID-19 Prevention and Control, vaccines should be prioritised for citizens in areas hit by outbreaks, with the Health Ministry and other relevant agencies being responsible for managing the purchase, import, and distribution of vaccines.

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Vietnam, US to enhance economic cooperation after Covid-19

February 25, 2021 by hanoitimes.vn

The Hanoitimes – The US state wishes to boost bilateral trade with Vietnam in the energy sector.

Representatives from the Vietnamese Ministry of Industry and Trade and the State of West Virginia (the US) on February 25 signed a memorandum of understanding to enhance cooperation in terms of economics, trade and energy.

An overview of the meeting between he Vietnamese Ministry of Industry and Trade and the State of West Virginia (the US) on February 25. Photo: Bnews

With the signing of this Memorandum of Understanding, the two sides set out the goal of establishing a comprehensive cooperation framework to facilitate trade and investment activities of businesses of the tso countries as well as formlinh a joint Working Group to promote cooperative activities.

Speaking at the signing ceremony, Vietnam Minister of Industry and Trade Tran Tuan Anh emphasized the special importance of Vietnam-US relations and highly appreciated the role and efforts of Carol Miller, the US House member representing West Virginia’s 3rd congressional district and US state’s Governor Jim Justice for promoting bilateral economic and commercial relations between the two sides.

Minister Tuan Anh also believed that this is a very appropriate time for the two sides to promote in-depth cooperation to jointly react to the Covid-19 pandemic and step up economic recovery.

“The US is an important and long-term partner of Vietnam in providing energy sources and technology as well as investment,” he said.

On her side, Carol Miller also wished to further promote trade cooperation, especially in the energy sector between the US state and Vietnam. “Reviving the economy after the pandemic is important, West Virginia and the US are ready to assist partners, especially in the renewable energy sector,” she said.

At an online talk with Miller last May, Minister Tuan Anh raised the initiative of signing an agreement between the ministrg and the US State to foster the collaboration.

Trade cooperation and investment between Vietnam and the US have been thriving, with two-way trade hitting US$90.8 billion in 2020, and are expected to reach US$100 billion this year.

Filed Under: Uncategorized the US, economic cooperation, covid-19, energy, cooperatives economics, civilian training programme indian technical & economic cooperation, cooperative in economics definition, asia pacific economic cooperation apec

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