Tìm kiếm: attraction

There are factors that strongly drive the growth of Vietnam's foreign direct investment (FDI) attraction in the second half of this year and there will be interesting surprises waiting ahead, said Chairman of the Vietnam's Association of Foreign Invested Enterprises (VAFIE) Prof. Dr. Nguyen Mai.

A decade ago, Trang An Scenic Landscape Complex became Vietnam's first "World Cultural and Natural Heritage" officially recognised by UNESCO. It has quickly become a leading tourist attraction, with its strong tourism types such as landscape-ecology-history and spirituality, Ninh Binh chose archaeological tourism for the greener and sustainable development of "the first and only mixed heritage of Southeast Asia".

Thanks to its efforts to improve the local investment climate, flexibly apply incentive policies and take breakthrough solutions, Ninh Binh has reaped positive outcomes in investment attraction, thereby creating a momentum for the province's socio-economic development in the coming time.

A delegation of Ninh Binh province led by Secretary of the provincial Party Committee Doan Minh Huan on February 29 had a working session with the Ministry of Information and Communications, focusing on innovation and investment attraction in order to turn Ninh Binh into a hub of innovation and creativity.

Competent Vietnamese agencies are formulating additional breakthrough support policies aimed at luring strategic investors amid fierce competition in foreign investment attraction and the imposition of the 15% global minimum tax in 2024, reported Dau Tu (investment) newspaper.

During the 35-year journey of attracting foreign direct investment (FDI), Vietnam has continuously improved institutions and preferential policies, effectively attracting and managing domestic and foreign investment resources. The expansion of economic diplomacy activities of the Party and Government in recent times has created more opportunities for Vietnam to attract high-quality capital flows into new industries.

Ninh Binh province has seen positive outlooks in investment attraction thanks to its efforts to improve the local business and investment climate and provincial competitiveness index (PCI) in a bid to attract strategic projects.

Determining that the quality of labor resources is an important factor in economic development and investment attraction, the Department of Labour, Invalids and Social Affairs of Ninh Binh province sped up technical and vocational education and training (TVET) programs to increase the rate of trained workers. The province aimed to create jobs for 19,400 workers annually in the 2021-2025 period and bring the rate of trained workers to 70-72%.

With its right investment attraction approaches and willingness to share and side with businesses, Ninh Binh province has invited many strategic investors to do business in the province to create breakthroughs in economic growth and budget revenue increase. In the coming time, the province will focus on selectively drawing investors and giving priority to projects that are land-effective, energy-effective, technologically advanced, environmentally friendly and highly valued, as well as projects that have strong ripple effects and connect global production and supply chains.

Having defined the attraction of investment projects as momentum for the province's economic growth in the current period, Ninh Binh has actively built and carried out numerous solutions to draw investors.

Despite foreign direct investment (FDI) in Vietnam shrinking over recent months, the decline has started to slow, with domestic FDI attraction now catching up with the global recovery trend.

Ninh Binh province boasts numerous advantages to develop industries such as automobile assembly and manufacturing, electronic components, textile and garment. However, these sectors heavily rely on imported materials, resulting in higher costs and independence in production. Based on its advantages in terms of geographical location and foreign direct investment (FDI) attraction policies, Ninh Binh will focus on attracting investment in supporting industries in the time to come.

As of May 20, 2022, total newly registered and adjusted capital together with capital contributions and share purchases by foreign investors surpassed 11.71 billion USD in the first five months of this year, equivalent to 83.7 percent of the same period last year.

Positive signs of investment inflows have been seen during meetings between National Assembly Chairman Vuong Dinh Hue and executives from many big European firms on the occasion of Hue's working visit to the European Parliament and a number of European countries from September 5-11.

In recent years, Ninh Binh has paid due attention to attracting investment into the province in general and its industrial zones (IZs) in particular. The local IZs have also seen better indicators in terms of occupancy rate, quality of projects, and feasibility and efficiency of projects as compared to other IZs in the nation and in the region.

Vietnam attracted 19.54 billion USD worth of FDI as of August 20, down 13.7 percent year-on-year, according to the Ministry of Planning and Investment.

In parallel with speeding up land clearance and improving infrastructure at local industrial zones (IZs), the Industrial Zone Authority of Ninh Binh has offered advice to the provincial People's Committee to adjust the province's master plan, accelerate administrative reforms and create a favourable investment environment, making these IZs attractive destinations for investors.

Investment attraction of the northern province of Ninh Binh has seen remarkable progress, contributing greatly to its socio-economic growth. This was attributed to the province's provision of mechanisms and policies in favor of attracting investment over the past few years.

Ninh Binh province has in recent years implemented a number of measures to boost its international economic integration. These efforts have brought about positive outcomes for the locality in many fields such as export, investment attraction. However, the process of international economic integration needs more efforts to raise the local economy's competitiveness, thus confirming its position in the international market.

Ninh Binh has urged branches and localities to implement a host of drastic measures to streamline administrative procedures, and provide transparent information related to investment attraction, thereby helping remove difficuties faced by businesses, and especially improve the provincial competiveness index.

With the addition of a foreign capital portfolio in the form of capital contribution and share purchase in the national statistics system, the picture of foreign investment attraction in Vietnam is gradually becoming clearer.

Ninh Binh province has so far licensed 542 projects with a total registered capital of 105 trillion VND (4.6 billion USD), said Nguyen Cao Son, Vice Director of the Department of Planning and Investment.

Located in Trang An Landscapes Complex, about 7km western of Ninh Binh city, Trang An Ecological Tourist Site is really a pre-eminent picture of mountains and water, cloud and sky, together with values of diversified landscape, geology, biology, culture and history. Therefore, this site has attracted more and more visitors.

Measures to reverse the dwindling attraction of foreign direct investment (FDI) into agriculture was the focus of a seminar in Hanoi on May 19 held by the Ministry of Agriculture and Rural Development (MARD).