Sushant Palakurthi Rao - head of Global Partnerships at Agility that has offices in over 100 countries, including ASEAN - attended the recent 27th World Economic Forum on ASEAN (WEF ASEAN) in Hanoi. He granted an interview to the press on FDI-related issues. Following is the full text of the interview. Vietnam has become an increasingly attractive destination for foreign investors. Photo: vtv.vn Reporter: Over the last 30 years, Vietnam has actively improved its business environment in order to attract more foreign investment. How do you assess the results achieved from this? Sushant: We heard at the WEF ASEAN conference from Vietnamese Prime Minister Nguyen Xuan Phuc and other leaders as how FDI is growing in the country. From the mere USD 10 billion in 1988 when Vietnam first started absorbing FDI, the country’s total export revenue is now expected to hit USD 225 billion in 2018. FDI firms have made up 20 percent of the total State budget collection, … [Read more...] about Vietnam becomes increasingly more attractive to foreign investors
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Vietnam becomes increasingly attractive to foreign investors
Sushant Palakurthi Rao – head of Global Partnerships at Agility (Photo: VNA) Hanoi (VNA) – Vietnam has become an increasingly attractive destination for foreign investors. The international manufacturing sector is moving to Vietnam and more FDI is flowing into the country, showing growing confidence among investors in the market, according to a representative from Agility – a leading global logistics group. Sushant Palakurthi Rao – head of Global Partnerships at Agility that has offices in over 100 countries, including ASEAN – attended the recent 27th World Economic Forum on ASEAN (WEF ASEAN) in Hanoi. He granted an interview to the Vietnam News Agency on FDI-related issues. Following is the full text of the interview. Reporter: Over the last 30 years, Vietnam has actively improved its business environment in order to attract more foreign investment. How do you assess the results achieved from this? Sushant: We heard at the WEF on ASEAN conference from … [Read more...] about Vietnam becomes increasingly attractive to foreign investors
Social News 4/4 (Hourly Updated)
New hospital building delayed due to slow compensation for residents A design of the new facility for HCM City Hospital for Traumatology and Orthopaedics. Source http://www.medinet.hochiminhcity.gov.vn Slow compensation for residents affected by the construction project has delayed construction on a new facility for HCM City Hospital for Traumatology and Orthopaedics for six years. The project to build the new facility was approved by the Prime Minister in 2010. In 2011, investors designed to build a 5,000-square metre facility, which was later expanded to more than 7,000 square metres. HCM City People’s Committee has instructed the authorities of Bình Chánh District, where the new facility will be located, and investors to speed up the construction many times, but the project still has not yet been started. In 2016, for instance, the committee required that the project begin in December of that year and would be expected to be completed this year. According to the … [Read more...] about Social News 4/4 (Hourly Updated)
Vietnam urged to prepare for the 4th industrial revolution
The Global Industry 4.0 Survey, the largest research of its kind and conducted last year by PricewaterhouseCoopers (PwC) on over 2,000 companies in nine major industrial sectors from 26 leading countries, revealed that companies expect Industry 4.0 to reduce operational costs by 3.6 per cent per year while increasing efficiency by 4.1 per cent annually. The country’s major corporations have been looking at applying advanced technologies and replacing their human workforce with machinery and robots in certain industries, to raise productivity, reduce production time, and optimize labor costs. Mr. Isara Burintramart, Managing Director of Reed Tradex, ASEAN’s leading exhibition organizer, underlined the increasing dynamism of Vietnam’s industry. “Vietnam’s manufacturing has been moving away from the traditional portfolio into higher value-added products,” he said. “We have seen growth and changes in industries we serve throughout the past … [Read more...] about Vietnam urged to prepare for the 4th industrial revolution
BUSINESS NEWS 15/5
Development gap hinders linkages in APEC auto industry Addressing the opening ceremony of the 26th APEC Automotive Dialogue (AD26) in Hanoi on May 11, Le Huu Phuc, Director of the MoIT's Department of International Relations, said that APEC should give priority to assisting developing economies in boosting the auto industry. He called for APEC member economies to cooperate effectively in capacity building to study auto industry policies, focusing on priority areas such as market access, human resources and infrastructure, technology incentives as well as environment standards for sustainable development. Regarding the fourth industrial revolution, Phuc said it will lead to the restructuring of the global manufacturing system, not only in technology but also in management and placing of new business models. New technology trends may disrupt value chains, possibly shifting a significant part of global production from developing to developed countries, he said, adding that access to … [Read more...] about BUSINESS NEWS 15/5