The Hanoitimes - The growth model for economic and industrial zones continues to play a significant role in attracting domestic and foreign direct investment, as well as furthering national development. Tran Duy Dong, director of the Department for Economic Zones Management under the Ministry of Planning and Investment, offers a comprehensive picture of the zones’ proliferation over the past decade, focusing on the processing and manufacturing sectors, and how to maximize its contribution to the national economic growth.Currently, 299 industrial zones (IZs) have been established across the country, covering the total area of 85,000 hectares of land, 56,000ha of which can be rentable. In addition, 16 economic zones (EZs) have been established in the nation’s coastal provinces with the total ground and water surface area of 814,792ha.The nation’s IZs and EZs have made important and practical contributions to the socio-economic development of their local areas, as … [Read more...] about IZs and EZs lauded as key to national growth – Industrial zone – Investment
KTĐT - Hanoi's socio-economy achieved many positive results in various fields in 2015. The city's economy has reached the highest growth in the past 4 years, with increased capital mobilization and loans, under-control inflation, high State budget collection and mobilization for social investment and guaranteed social security. The latest report on the municipal socio-economic development of Hanoi Statistical Office showed the local gross domestic product (GDP) in 2015 increased by 9.24%, higher than the previous year (8.8%), and the highest in the past four years. In particular, the total value of agriculture, forestry and fisheries increased by 2.47%, construction industry rose by 9.11%, service sector grew by 9.91%. Development investment capital in the city increased by 12.6%. The total sales of merchandise and revenues from social consumption services increased by 11.7%, while retail sales rose by 11.5%. The city's export turnover is estimated to rise by 2.5%, while local exports … [Read more...] about Hanoi’s economy to strive to fulfil sustainable growth – Industry – Economy
Cavico Corporation (CVCP), Vietnam's first oversea-listed firm, announced Friday it would invest US$1.25 million into a new fund being created by Vietnam Fund Management Co., in conjunction with HSBC. The fund will invest its capital into high-growth industries throughout Vietnam, including pharmaceuticals, telecommunications, banking, real estate and petroleum. The fund, referred to as VF 2, is being capitalized by Cavico and other Vietnamese companies, including Dragon Capital Markets Ltd, Vinamilk, Petroleum Finance Company, Military Bank, Sacombank, Indovinabank, Bao Minh and the Petroleum Insurance Company."This investment represents an important step for Cavico on the road to becoming a major player in the economic expansion of Vietnam's economy," said Bui Quang Ha, CEO of Cavico. "The fund will use its expertise to invest into many areas of Vietnam's infrastructure. We feel that Cavico's participation in the fund will allow the company to gain credibility as an investor … [Read more...] about Cavico invests $1.25 mln into Vietnam Growth Investment Fund
Vietnam's economic growth accelerated in the second quarter as revived bank lending helped boost manufacturing and consumer spending. Gross domestic product rose 6.4 percent in the three months through June from a year earlier, from a 5.83 percent first- quarter expansion, based on figures released Thursday by the General Statistics Office in Hanoi. For the first half of 2010, the economy grew 6.16 percent from a year earlier, from 3.87 percent in the same period of 2009. "Our loan growth was stronger in the second quarter, particularly corporate lending," said Ly Xuan Hai, Ho Chi Minh City-based chief executive of Asia Commercial Bank, the country's biggest non-state-owned bank. "Economic growth in the range of 6.2 percent to 6.4 percent is not bad, though we have the potential to do better." GDP expanded 5.32 percent in 2009, the slowest pace since 1999, as the country's export industries slumped amid a struggling global economy. Vietnam's government is targeting … [Read more...] about Vietnam GDP growth quickens on bank lending
Rattan-Bamboo Knitting Industry is one the traditional handicrafts industry in Dong nai province. Annually, the turnover gained is VND150 billion-VND200.00 billion. Most of the products are exported. There are about 200 establishments mainly in Bien Hoa city, and dispersedly in Dinh Quan district and some other districts in the province. Last period, rattan-bamboo knitting industry offered jobs for thousands of workers, contributing much for the province's socio-economic development. This is a high-growth industry with products mostly for exporting need. Rattan-bamboo knitting products are really diversified in term of models including dishes, trays, pots, chairs, tables, shelves, etc. It uses available and agricultural materials (rattan-bamboo leaves, water hyacinth, sedges, coconut fibers, banana ocreas , wild fibers, etc…), contributing to support the output of agricultural products. Thanks to it, rural labors have work, make use of spare time after crops as well as … [Read more...] about Development orientation of Dong nai rattan-bamboo knitting industry till 2010.