Tìm kiếm: investment

The Government views public investment as both a resource and a driving force behind national development, says Prime Minister Pham Minh Chinh.

A delegation of the Vietnam General Council of Agricultural and Rural Development and businesses from the Republic of Korea (RoK) on February 14 paid a working visit to Ninh Binh province to seek investment opportunities in agriculture.

Vietnam has been accelerating the disbursement of public investment since the beginning of this year after missing its target in 2022.

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.

Vietnam has set a target to double the amount of foreign investment in agriculture to 34 billion USD by the end of 2030. However, there were a number of shortcomings and limitations the country must urgently address to realise the goal, according to policymakers and industry experts.

Vietnam Electricity (EVN) and the European Investment Bank (EIB) have signed a memorandum of understanding to create a prerequisite for the EIB to help with the Vietnamese group's sustainable development and energy transition.

Ninh Binh's total development investment was estimated to reach 2.44 trillion VND (101.35 million USD), posting a month-on-month increase of 8.8%.

The nation continues to be a safe and stable destination which creates a favourable environment for businesses from the Republic of Korea (RoK) to feel secure for long-term investment, co-operation, and development.

Ninh Binh ranked among the top localities with a high rate of public investment disbursement. The outcome was attributed to the efforts of party committees and administrations at all levels.

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.

The Government issued Resolution 124/NQ-CP, dated September 15, 2022 on measures and tasks to accelerate public investment disbursement in the rest of 2022.

Prime Minister Pham Minh Chinh chaired a hybrid meeting with foreign-invested enterprises and business associations on September 17, during which he pledged to create favourable conditions for FDI enterprises to invest successfully and sustainably in Vietnam.

The past eight months of the year saw the nation attract investment from 94 countries and territories worldwide, with a total registered capital of US$16.8 billion, equaling 87.7% over the same period from 2021, according to statistics compiled by the Ministry of Planning and Investment.

Since the beginning of 2022, the northern province of Ninh Binh has implemented numerous solutions to accelerate the progress of public capital projects as scheduled and to disburse public investment capital in a bid to effectively realise the Government's Resolution No. 11/NQ-CP dated January 30, 2022 on the socio-economic recovery and development programme.

The initial six months of the year saw public investment disbursement only met 27.86% of the annual plan, a figure even lower than the 29.02% recorded in the same period last year, according to the Ministry of Planning and Investment (MPI).

Following the Prime Minister's direction in Decision No. 548/QD-TTg, dated May 2, 2022, the Ministry of Finance compiled a summary report on May 18 on inspecting and removing difficulties and obstacles while accelerating disbursement of public investment capital 2022.

Prime Minister Pham Minh Chinh signed Decision No.548/QD-TTg on May 2 to establish six working groups to inspect and remove difficulties and obstacles, and accelerate the disbursement of public investment capital in 2022 at ministries and central and local agencies that have not fully allocated the assigned public investment capital plan by April 30; with the disbursement rate as of April 30 being below the national average (18.48%).

Ninh Binh authorities held a meeting in Ho Chi Minh City on April 28 to introduce its potential and advantages to investors.

The total amount of social investment capital disbursed in the first quarter of 2021 was estimated at 562.2 trillion VND (24.6 billion USD), up 8.9 percent year-on-year, reported the General Statistics Office (GSO).

Vietnam's target of raising renewable electricity to 45 percent of the national power generation capacity by 2030 and the need for investment worth up to 14 billion USD towards this goal have created substantial opportunities for both domestic and foreign firms.

The Prime Minister has issued Decision No.150/QD-TTg approving the strategy for the sustainable development of agriculture and rural areas for 2021-2030 period, with a vision to 2050.

As of November 20, foreign direct investment capital inflows into Viet Nam reached US$26.46 billion, an increase of 0.1 percent compared to the same period last year.

In 2021, Vietnam's economy has met with difficulties while investment capital from the state budget has limited, Ninh Binh province has rolled out numerous measures to call for investment capital from economic sectors in a bid to boost socio-economic development.

Over 257.3 trillion VND (11.1 billion USD) in public investment capital were disbursed as of late October, or 55.8 percent of the target assigned by the Prime Minister, reported the Finance Ministry.

While a number of foreign companies have moved part of their production or orders to other countries, many still see Vietnam as a good location for investment in the long term.