The amendments can simplify procedures and ease business conditions for investors at home and abroad Last week, the National Assembly’s (NA) Economic Committee held a meeting to examine and verify the draft amendment to the Law on Investment 2014 with the participation of NA deputies, representatives from ministries, and businesses to prepare for compiling a verification report for discussion at the NA’s eighth session in October. Vu Dai Thang, Deputy Minister of Planning and Investment from the compiling board of the draft said, “The amendment aims to further improve the business climate and help businesses overcome barriers, while increasing the quality and efficiency of foreign direct investment (FDI) in line with the development trajectory drawn up for sectors and areas, security, defence, sustainable development, and environmental protection.” The amended draft includes the reworked market access conditions and investment incentives – two … [Read more...] about Wide ranging changes for decade of investment
New brunswick investment management
HCMC calls for investment in Thu Thiem underground trade center
According to an announcement from the committee office, the trade center will connect to the city's second metro line and nearby projects. Concerning building the central square and park along river the Thu Thiem New Urban Area under build-transfer (BT) form, the People’s Committee asked competent agencies to assess the project. Moreover, the competent department must submit the footbridge construction project spanning Sai Gon River connecting the Area with district 1 to call for investment. Regarding the construction of four main paths in the new urban area, the municipal People’s Committee asked the Department of Transport to assess and submit the categories in the RI Avenue through the central square as per the regulation. The fund for construction will be under the guideline of the People’s Committee. The city People’s Committee approved the Department of Planning and Investment to adjust the infrastructure investment plan of the residential block in the … [Read more...] about HCMC calls for investment in Thu Thiem underground trade center
SolarBK goes green via new initiatives
The grid connection ceremony of a solar power system has taken place at Tong Hong Tannery (Vietnam) Co., Ltd., a Taiwanese company manufacturing sports shoes in the southern province of Ba Ria-Vung Tau. The grid connection ceremony was held on July 3 The 460 kilowatt peak (kWp) project, developed by Solar ESCO JSC, a member of renewable developers SolarBK Holdings, was directly installed on the roof of Taiwan’s Tong Hong Tannery (Vietnam) Co., Ltd., using Solar ESCO’s capital. The system will help Tong Hong Tannery Vietnam, based at My Xuan A2 Industrial Park in Tan Thanh district of the southern province of Ba Ria-Vung Tau, to annually reduce carbon dioxide emissions by about 578 tonnes. Besides saving on the initial investment, Tong Hong could also save at least 5 per cent of cost per kWh and contribute to reducing greenhouse gas (GHG) emissions after each product to fall in line with the standards set by the brand. As per the agreement terms, after 15 years, … [Read more...] about SolarBK goes green via new initiatives
New steel projects bewilder producers
New steel projects bewilder producers - illustration photo A series of local steel producers have submitted a petition for urgent review to the Government Office and related ministries on the new cold-rolled stainless steel project in Vietnam. This project is invested by Foshan Union Stainless Co., Ltd. and Zhejiang Yongjin Metal Technology Co,. Ltd. (Yongjin Metal) in Tien Giang, laying out a blueprint for a facility with an annual capacity of 250,000 tonnes of cold-rolled stainless steel. The document noted that this is an example of the company going around one province’s refusal to get an investment certificate in another in Vietnam According to the petition, China-based Yongjin Metal applied for an investment certificate in Dong Nai to build a stainless steel project in April 2017 and August 2018, but it was rejected due to the local authorities’ growing concern of oversupply and environmental pollution. “However, only eight … [Read more...] about New steel projects bewilder producers
Malaysia’s new direct investments hit 19.18 billion USD in H1
Illustrative image (Source: Internet) Kuala Lumpur (VNA) - Malaysia's new approved direct investments in the services, manufacturing and primary sectors rose 17.7 percent year-on-year to 80.2 billion ringgit (about 19.18 billion USD) in the first half of 2018, according to data released by the Malaysian Investment Development Authority (MIDA) on October 29. The MIDA said that the money comes from 2,346 projects which are expected to generate 60,181 job opportunities for Malaysians. The domestic investments which contribute 67 percent to the total approved investments, expanded 10.5 percent year-on-year to 53.7 billion ringgit. Meanwhile, foreign investments grew 35.3 percent year-on-year to 26.5 billion ringgit, mainly driven by investments in the manufacturing and primary sectors. The services sector remains a key driver, with its approved investments standing at 50.9 billion ringgit. The approved investments for the manufacturing industry increased 21.2 percent … [Read more...] about Malaysia’s new direct investments hit 19.18 billion USD in H1