Promote outbound foreign direct investment

A corner of the Vietnam-Singapore Industrial Park 1 (VSIP1) in Thuan An, Binh Duong. (Photo: VNA) Binh Duong (VNA) – Binh Duong posted a highest-ever trade surplus of around 6.3 billion USD in the first half of 2022 as its foreign trade has witnessed quick recovery since the beginning of this year on the back of the recovery of global production and supply chains. The southern province generated nearly 19 billion USD from exports and spent some 12.7 billion USD on imports, according to head of the provincial Statistics Office Ngo Van Mit. Its largest market in H1 was the US which imported about 6.4 billion USD worth of goods and services from Binh Duong, followed by the EU (2.2 billion USD), the Republic of Korea and Japan (over 1.8 billion USD), and Taiwan (China) (over 1.4 billion USD). Binh Duong reported a quite impressive growth of 6.84% in Gross Regional Domestic Products (GRDP) during the period; with industry and construction expanding 7.58%; services 6.60%, and … [Read more...] about Binh Duong enjoys record-high trade surplus in H1

According to Berly D. Alvarez, chairman of the Philippines’s Kaunlad Lending Investors Corporation and a speaker at the 2018 Horasis Asia Meeting held recently in Binh Duong province, Vietnam’s ability to attract FDI is due to its consistent economic reform, a young and increasingly urbanized population, affordable labor, constant improvements to its business climate, and political stability. The fact that it hosted the 2017 APEC meetings highlights its regional economic integration and steadily improving business climate, he added. Vietnam has been attracting investment in infrastructure, including power projects, road and rail construction and renewable energy. Don Lam, CEO of VinaCapital, said Vietnam’s economy remains strong with 6.6 percent growth targeted next year, inflation remaining under control and manufacturing expanding. “More foreign investment is expected to flow into Vietnam in the coming time.” Pakpoom Vallisuta, chairman of The Quant Group Corporation, a … [Read more...] about Vietnam a regional FDI magnet say experts

Representatives of 29 tourism businesses from Ha Noi, HCM City and the north-central region signed agreements to link tourism development on July 1 in Nghe An Province. — VNA/VNS Photo Van Ty Tourism links would boost activity in each locality, contribute to the promotion of local tourism brands in the domestic market and enhance the competitiveness of Vietnamese tourism in the international market, vice chairwoman of the HCM City People's Committee Phan Thi Thang said at a recent forum on linking tourism development. The forum was held in Nghe An Province last Friday to foster tourism links between Ha Noi, HCM City and six north-central provinces of Nghe An, Ninh Binh, Thanh Hoa, Ha Tinh, Quang Binh and Quang Tri. Phan Thi Thang said besides tourism links within the north-central region, the six provinces needed to boost tourism cooperation with key tourism regions, and create unique tourism products. “With experience in developing tourism linkages with other regions, HCM … [Read more...] about Ha Noi, HCM City foster tourism links with north-central region