Vietnam india news

Vietnam continues to remain an attractive investment destination in the long term. Foreign Direct Investment (FDI) commitments during the first nine months of 2021 rose by 4.4% year-on-year to US$22.15 billion, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown. Production at YPE VINA in Binh Xuyen 2 Industrial Park, Vinh Phuc Province. Photo: Hoang Hung Meanwhile, the serious Covid-19 situation in southern provinces/cities has led to temporary disruption of production and a reduction of 3.5% year-on-year in FDI disbursement to around $13.28. billion. Principal Country Economist of the ADB in Vietnam Nguyen Minh Cuong said the pandemic and subsequent restriction measures are wreaking havoc on businesses as a whole, including foreign companies. Cuong, however, noted for foreign businesses, any investment decision into a country would take into account long-term considerations, and they are rarely fazed by … [Read more...] about FDI commitments to Vietnam rise nearly 5% in 9-month period

The three localities with the highest number of new cases were Ho Chi Minh City with 4,134 cases, Binh Duong with 3,793 cases and Dong Nai with 616 cases. Of the day's tally, 4,453 cases were detected in the community. The health ministry also confirmed 10,528 discharges the same day, bringing the total tally of recovered cases so far to 538,454. The Covid-19 death toll in Vietnam rose to 18,758 with the confirmation of 174 deaths Monday. The average number of new cases in the country for the past seven days has been 10,035 a day while the national death rate over the past week has been 208 a day on average. The country has vaccinated over 39.23 million people with at least one Covid-19 vaccine shot. Over 8.2 million have been fully vaccinated. … [Read more...] about Vietnam adds 9,342 cases to Covid-19 tally

Vietnam-US trade ties have enjoyed impressive growth (Source: laodong.com.vn) Hanoi (VNA) – The Vietnam-US trade ties have enjoyed impressive growth during 26 years since the normalization of diplomatic ties. Looking back at the past 20 years in international trade, there is no relationship which has such a fast growth rate like that of the Vietnam-US trade relationship, said Nguyen Xuan Thanh , senior lecturer at Fulbright School of Public Policy and Management in Vietnam. Prof. David Dapice , leading expert on development economics in Southeast Asia, Harvard Kennedy School, Harvard University, used the word “spectacular” to describe the development of economic cooperation between Vietnam and the US. Two-way trade rose from over 400 million USD in 1995 to more than 90 billion USD in 2020. Vietnam’s total export turnover to the US from 1 billion USD in 2000 increased to 10 billion USD in 2007, mainly thanks to the bilateral trade agreement taking effect in … [Read more...] about Vietnam-US trade ties enjoy “spectacular” growth

At a factory of Nestle in Hung Yen province (Photo: baodautu.vn) Hanoi (VNA) – Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper. The Swiss company Nestle said it is pouring an additional over 130 million USD, raising its total investment in Vietnam to 730 million USD to carry out a number of its projects in the next two years. Urs Kloeti, Factory Manager of Nestle Bong Sen, was quoted by the newspaper as saying that his company believes in Vietnam’s role as an international and regional manufacturing hub in the future. Alongside Nestle, other foreign firms have committed to maintaining operations in Vietnam despite the fourth wave of COVID-19 outbreaks that have forced various localities to apply stringent preventive measures. Tetra Pak of Sweden has confirmed that it will pump 5 million EUR (5.86 … [Read more...] about Foreign investors keep trust in Vietnam’s recovery

Processing cashew nuts for export . (Photo: VNA) Hanoi (VNA) – Vietnam earned 3.15 billion USD from exporting goods to Cambodia in the first eight months of 2021, up 16.7 percent year-on-year. However, Vietnam reported a trade deficit of 354.4 million USD with Cambodia in the reviewed period. One of the reasons behind the trade deficit was increases in import turnover of six main products from Cambodia compared to the same period last year, with the imports of cashew nut and rubber witnessing the highest rises. Vietnam spent almost 1.83 billion USD on importing cashew nuts from Cambodia in the first eight months, a 7.1-fold hike year-on-year.  Meanwhile, Vietnam’s rubber imports from the neighbouring country were 5.3 times higher than the figure of the same period last year, reaching 821.8 million USD. Vietnam’s registered investment in Cambodia hit over 2.85 billion USD, mainly in agriculture, including cashew and rubber planting. Vietnamese businesses have … [Read more...] about Vietnam’s exports to Cambodia up 16.7 percent in eight months

After arriving in Vietnam, a shipment of over 1.3 million jabs of AstraZeneca COVID-19 vaccine has been handed over to the Ministry of Health to continue feeding the country’s accelerated immunization campaign. The ministry received 1,317,500 vaccine doses from the Vietnam Vaccine Joint Stock Company (VNVC) on Monday, as part of the 30-million-dose contract signed between VNVC and the manufacturer in late 2020. The latest shipment, which arrived in Ho Chi Minh City last Friday, has taken the total number of vaccine doses delivered to Vietnam from this source to nearly 15 million, including five million this month. VNVC has previously agreed to hand over all the vaccine doses under this contract to the ministry on a non-profit basis and pay all relevant expenses, including that on vaccine storage. To date, the country has received more than 54 million doses of COVID-19 vaccine from different sources, including COVAX Facility, contract purchases, and donations. This vaccine … [Read more...] about Vietnam gets 1.3 million more doses of AstraZeneca vaccine