With his strong confidence that more European investment will enter Vietnam thanks to the EU-Vietnam Free Trade Agreement (EVFTA) Bruno Angelet, Ambassador and head of the European Union Delegation to Vietnam, told VIR that Vietnam has and will continue being a very good location for European investors. “European investors remain quite optimistic about conducting business in Vietnam, where they see great potential,” he said. “The EU can offer investment in hi-tech, environmentally-friendly and less energy-consuming sectors. European businesses do not only bring technology and quality jobs but also responsible business practices,” he said. “This quality European investment can create useful links with local companies and integrate them in the global value chains.” A rise in confidence The EVFTA will eliminate over 99 per cent of tariffs, with the EU eliminating duties on thousands of items sourced from Vietnam. Meanwhile, Vietnam will liberalise … [Read more...] about Investment wave from EU on way
Why foreign direct investment is important
Why didn’t VinaCapital proceed with its investment in Ba Huan? I think someone told me once that there is no such thing as bad PR....clearly we got a lot of PR attention from this and I hope potential investors will come to appreciate that VinaCapital takes investments very seriously and professionally. Since we manage other people’s money, we do our best to protect their money and achieve the highest risk adjusted return. In this case, we wanted to resolve the problem and PR noise quickly because it was distracting. It distracts us from doing other great investments and it distracted the CEO and our current and past investments. Therefore, we think that these CEO’s time and our time can be better spent building great businesses and hiring more people than to be distracted by this case. Do you think the current cancellation can have a negative impact on other Vietnamese companies that are trying to raise foreign capital but still lack experience? Will this affect … [Read more...] about The potential of Vietnamese companies is attracting foreign investors
Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?
Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. — Photo vietnamfinance.vn Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. The sharp increase in foreign direct investment in the automobile industry has also been indicated in the latest report by the Ministry of Planning and Investment’s Foreign Investment Department. It … [Read more...] about Foreign auto makers’ U-turn: not just not quitting VN, expanding
A view of Đồng Nai Province. According to the Foreign Investment Agency, in the first five months of the year foreign direct investment in new projects was worth US$4.66 billion, 17 per cent down from last year’s figure for the same period. — Photo cafef.vn According to the Foreign Investment Agency, in the first five months of the year foreign direct investment (FDI) in new projects was worth US$4.66 billion, 17 per cent down from last year’s figure for the same period. Capital addition by existing projects plunged by 46 per cent to $2.5 billion. The first five months of last year saw several new large projects licensed while some existing major investors also brought in more money. But this year most projects have been small or medium-sized, with the largest being South Korea’s LG Innitek Hai Phong, which has an investment of $501 million. Thai-invested Bac Lieu Wind Power Project No 3 involves an investment of $365.76 million, while … [Read more...] about VN leaders’ foreign visits expected to up FDI