The MoIT is willing to listen to ideas and opinions from Korean investors and businesses and will work harder to improve the local business climate, he added. Speaking at the event, Korean Ambassador to Vietnam Park Noh Wan highlighted Vietnam as an open economy which has developed steadily and become member of many free trade agreements. These are good factors for Korean firms to stay confident about their investment and business in the Southeast Asian country, he said. As the COVID-19 pandemic is causing disruption to global supply chains, enterprises from both nations need to exchange frequently and coordinate closely to further boost trade and investment, the diplomat said. Currently, the RoK is Vietnam’s third largest trade partner, after China and the US, with bilateral trade reaching nearly 67 billion USD in 2019. It is also the fourth largest export market and second import market of Vietnam. The RoK mainly imports agricultural and aquatic products, processed food, … [Read more...] about MoIT pledges to do its best to support Korean firms: Minister
How do governments attract fdi
Dong made this statement at the seminar on International Financing for Independent Power Projects on November 25 in Hanoi. Since 2015, Vietnam has transitioned to a low-middle-income country which reduces its access to concessional sources of finance from development partners such as Official Development Assistance (ODA). “Therefore, capital can only be mobilised from international financial institutions,” he said. The international capital market is very large with tens of thousands of billions of US dollars, more than enough to satisfy Vietnam’s capital need. However, Dong said such capital flows are highly competitive, running on supply-demand principles and certain standards, which requires borrowers to comply. In February this year, the Politburo issued Resolution No. 55-NQ/TQ on Vietnam’s strategic orientations for energy development through 2030 and with an outlook to 2045. To meet the target of a total capacity of all power sources reaching … [Read more...] about International financing key to develop Vietnam’s power sector: Officials
Phuc asked for Rolser’s support in promoting investment and attracting capital from major corporations around the world. He expressed his appreciation for investment projects in Vietnam, especially in tourism, which is a spearhead economic sector promoted by the government. … [Read more...] about German, Swiss and Israeli firms to invest $350 mln in Vietnam
Given rising demand for safe shelter amid the global health crisis, international real estate service providers have pointed out some key trends of Vietnam’s real estate market in 2020 with an aim to help investors have an overview of the sector that normally ranks high in the list of industries receiving foreign capital inflows. … [Read more...] about Industrial property continues dominating Vietnam’s 2020 real estate sector
It is important to note that this was already happening, but the trade war accelerated the process. Dustin Daugherty, head of North American Desk for Dezan Shira & Associates, said “Even prior to the start of the US-China trade war and more recently the outbreak of the Covid-19 pandemic, Vietnam offered the most cost-competitive China alternative for general manufacturing in Asia. … [Read more...] about How US investors’ positive sentiment towards Vietnam grows stronger?