Overview of the meeting (Photo: VNA) Hanoi (VNA) – Several important issues, including the investment, management and utillization of wharfs in Hai Phong International Gateway Port, were discussed during a meeting of the Cabinet chaired by Prime Minister Nguyen Xuan Phuc on August 24-25. After listening to a report on matters related to the port, located in the northern city of Hai Phong, the PM clarified that the planning and investment of the port must be made coherent to improving the national competitiveness and ensuring that the Lach Huyen deep-sea port becomes a factor attracting investors to Hai Phong. As the port is significant to the whole northern region, it is necessary to focus resources to expanding it in a more rapid manner, he said. The PM assigned the Ministry of Transport to work with Hai Phong to review the project and submit a report to him at an early date. Regarding the management model of the port, the PM asked the Ministry of Justice to coordinate with … [Read more...] about Hai Phong port investment, management make spotlight at Cabinet meeting
New brunswick investment management
New Japanese investment trend in Vietnam
Growing investment Data from the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) show that Vietnam has so far attracted 3,599 Japanese direct investment projects totaling US$49.46 billion in registered capital, making it the second biggest foreign investor in Vietnam, after the RoK. In 2017, Japan took the lead among 115 countries and territories investing in Vietnam, with a total registered capital of more than US$9 billion, accounting for 25 percent of all foreign direct investment (FDI) capital in the country. Hironobu Kitagawa, Chief Representative of the Japan External Trade Organization (JETRO) Office in Hanoi, said many Japanese investors are eyeing Vietnam given its impressive economic growth in recent years. In 2017, Vietnam reached an economic growth of 6.81 percent, 0.11 percent higher than the 6.7 percent target set by the National Assembly, and is expected to maintain a high level of economic growth in 2018, as well. FIA Director Do Nhat Hoang … [Read more...] about New Japanese investment trend in Vietnam
Pompeo announces new US investments in Indo Pacific region
Secretary of State Mike Pompeo announced US$113 million in new US investments in the Indo-Pacific region Monday, including US$25 million to promote digital connectivity, US$50 million for energy projects, and US$30 million for infrastructure. Secretary of State Mike Pompeo In making the announcement, Pompeo emphasized the US commitment to the region, and to the principles of freedom and openness, implicitly drawing a contrast to China's investment policies under its "One Belt, One Road" plan. "With American companies, citizens around the world know that what you see is what you get: honest contracts, honest terms, and no need for off-the-books mischief," Pompeo said at an Indo-Pacific Business Forum at the US Chamber of Commerce. "For us the Foreign Corrupt Practices Act is not just a law — it is a point of pride. Integrity in businesses practices is an essential pillar of our Indo-Pacific economic vision." While President Donald Trump has frequently referred to China … [Read more...] about Pompeo announces new US investments in Indo Pacific region
IMF helps with public investment management assessment
Scene at the training conference on Public Investment Management Assessment (PIMA) (Photo: VNA) Hanoi (VNA) – A training conference on Public Investment Management Assessment (PIMA), which was developed by the International Monetary Fund (IMF), took place in Hanoi on June 26. The Party Central Committee's Economic Commission and IMF co-organised the conference, where an IMF expert introduced the PIMA tool and fielded participants’ questions on the tool and its applications in real-life situations. According to the IMF, the PIMA evaluates 15 institutions that shape public investment decision-making at the three key stages – planning sustainable development across the public sector; allocating investment to the right sector and projects; and implementing projects on time and on budget. Speaking at the conference, vice chairman of the commission Ngo Van Tuan highlighted the importance of the event, expecting public personnel using PIMA to work closely with IMF … [Read more...] about IMF helps with public investment management assessment
New foreign investment approvals in Jan-Apr drop sharply
New foreign investment approvals in Jan-Apr drop sharplyLe Hoang A view of downtown HCMC. The real estate sector recorded the second largest foreign investment in January-April. PHOTO: HUNG LE HCMC – Total foreign investments pledged in the year’s first four months fell by a sharp 23.9% to US$8.06 billion, according to the Foreign Investment Agency. Of the fresh foreign investment approvals in the period, pledges by existing and new projects declined significantly. In particular, 883 new projects that had been approved in the year to April 20 had total registered capital of US$3.55 billion, a fall of nearly 24% against last year’s same period. Besides, 303 operational projects registered to adjust their investment capital up by US$2.24 billion, a year-on-year drop of 48.5%. Regarding foreign indirect investment, the four-month period recorded 1,863 cases of foreign investors contributing funds or acquiring local shares with a combined value of US$2.26 … [Read more...] about New foreign investment approvals in Jan-Apr drop sharply