Amid rapid economic recovery following the COVID-19 pandemic, Vietnam’s foreign direct investment (FDI) attraction this year is anticipated to record positive signs and hit US$40 billion, according to insiders. Goertek Group has increased its investment capital to US$500 million in a factory specialising in manufacturing electronic products, network equipment, and multimedia audio products in Nghe An (Photo: baodautu.vn) Last year, despite the adverse impacts caused the pandemic, the country was still able to attract US$31.15 billion in FDI, representing an annual rise of 9.2%. Most notably, China's Goertek Group recently moved to increase its capital from US$100 million to US$500 million in a factory specializing in manufacturing electronic products, network equipment, and multimedia audio products in the central province of Nghe An, thereby becoming the largest investor in the locality. Furthermore, Ju Teng International Holdings Ltd has been granted … [Read more...] about Vietnamese FDI attraction likely to hit US$40 billion this year
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The delegation visited the Army Officer Candidate School No.2 (Nguyen Hue University), the National Shooting Range Region 3 and Division 302 of Military Region 7. During the visits, General Luong highly valued the units’ active spirit, creativeness and determination in fulfilling their political tasks, especially the COVID-19 prevention and control. Prior to the upcoming traditional Tet festival, the deputy defense minister required the units’ leadership to grasp all situations, ensure combat readiness, set concrete plans to cope with the COVID-19 pandemic, build civilian-military solidarity and pay more attention to taking care of policy beneficiaries in the localities. On behalf of the Ministry of National Defense, General Luong handed over gifts and extended Tet greetings to troops of the units, presented 20 tons of rice to support policy families, religious followers, and needy servicemen. Translated by Trung Thanh … [Read more...] about Deputy Defense Minister extends Tet greetings to Southern units
Tan Hoang Minh won the bid in a ‘duel’ to buy the 3-12 land plot in Thu Thiem new urban area in HCM City, but finally gave up. On January 11, Tan Hoang Minh issued a press release, saying that it will send an official document to HCMC People’s Committee, Land Bank Development Center and HCMC Property Auction Service Center about its decision on unilaterally terminating the contract on the purchase of the 3-12 land plot. The contract was signed on December 17, 2021, or one working week after the auction day (December 10, 2021). During the auction four land plots were sold. This means that if Tan Hoang Minh cancels the purchase of the land, it will lose the deposit of nearly VND600 billion. A question has been raised about the ‘fate’ of the land plot, called ‘golden land’ because of its advantageous position. Some people said the land may fall into the hands of the business with the second highest bidding price at the auction. The auction session was described as … [Read more...] about What’s behind Tan Hoang Minh’s sky-high bidding price?
At the NA Standing Committee's 6th session (Photo: VNA) Hanoi (VNA) – The National Assembly (NA) Standing Committee will hold its 7th session in Hanoi on January 18 and 19, according to the NA Office. NA Chairman Vuong Dinh Hue is expected to deliver an opening speech and take turn together with his deputies to chair the event. At the function, the committee will consider and give opinions regarding proposals related to the draft revised Law on Emulation and Commendation; as well as the NA’s draft resolution on piloting the model of labour organisation, career counseling, and vocational training for prisoners outside prisons as part of the 2022 law and ordinance building programme. It will also decide on the implementation of the jury’s trial attire. Meanwhile, lawmakers are expected to comment on additions to the foreign capital investment plan from the unallocated capital; and adjustments to the medium-term public investment plan for 2021-2025. The committee … [Read more...] about NA Standing Committee’s 7th session to open on January 18
A view of Vinh Phuc Province. The Nam Binh Xuyen IP is being developed in this province by the YSL Group with an investment of VND2.2 trillion (US$95.7 million). — Photo dangcongsan.vn YSL Group, the South Korean investor of the Nam Binh Xuyen Green Park, will cooperate with Savills Vietnam to develop this industrial park. Savills Vietnam will be a stratergic partnership providing a comprehensive range of services for YSL Group’s Nam Binh Xuyen Green Park project, including sales, advisory and marketing services. With its global network, Savills will also help the project attract reputable local and international customers. The Nam Binh Xuyen IP is being built in Binh Xuyen District, Vinh Phuc Province by the YSL Group with an investment of VND2.2 trillion (US$95.7 million). This 295-ha high-tech project contributes to the province’s sustainable development and high-tech targets with its green, smart, and modern ecosystem. The Nam Binh Xuyen Green Park is expected to … [Read more...] about YSL Group cooperates with Savills Vietnam to develop Nam Binh Xuyen IP