Tìm kiếm: investment

VGP - Foreign direct investment (FDI) inflows to Viet Nam grew 8.2 percent year-on-year to nearly US$18.15 billion in the first eight months this year, official statistic data shows.

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.

The total disbursement of public investment reached 267.6 trillion VND (11.2 billion USD) as of the end of July, fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to the Ministry of Finance.

Ninh Binh province defines administrative reform as the most important solution to build a service-oriented government and create an open and favorable business environment for people and businesses, helping raise the Provincial Competitiveness Index (PCI) in particular and attract investment capital for socioeconomic development in general.

Building synchronic infrastructure, improving the quality of workforce, and creating a favourable investment climate are important factors that help Ninh Binh's economy gains important outcomes in the past years.

More than 3.22 trillion VND (136.65 million USD) of public investment capital from foreign sources was disbursed in the first six months of this year, completing 27.2% of the target set for the whole year, according to Truong Hung Long, Director of the Department of Debt Management and External Finance under the Ministry of Finance (MoF).

The northern province of Ninh Binh has to date attracted 93 foreign direct investment (FDI) projects with total registered capital of 1.56 billion USD, the provincial Department of Planning and Investment has reported.

A series of construction enterprises will benefit from the Government implementing multiple strategic public investment infrastructure projects.

More than 5.22 trillion VND (over 222.6 million USD) are set to be disbursed for component projects of the North-South expressway project in June, including more than 1.6 trillion VND in the first stage and the remainder in the second stage, reported the Transport Ministry's Department of Planning and Investment.

More than 110.6 trillion VND (4.7 billion USD) of public investment was disbursed in the first four months of this year, equivalent to 14.6% of the yearly target and lower than the 18.48% in the same period last year, according to the Ministry of Finance.

A delegation of Ninh Binh led by Vice Chairman of the provincial People's Committee Nguyen Cao Son paid a working visit to Japan and the Republic of Korea to sign Memoranda of Understanding on cooperation in friendship exchange, investment promotion and labour export.

A delegation of the Ministry of Planning and Investment led by its Minister Nguyen Chi Dung on March 30 inspected preparation for Ninh Binh - Hai Phong expressway project and progress of medium-term public investment projects in the period of 2021-2025 in Ninh Binh province.

Though Ninh Binh boasts numerous potential and advantages, the province has still found it hard to attract foreign direct investment (FDI) in agriculture-forestry-fishery. Therefore, Ninh Binh needs to pay due attention and issue particular policies in a bid to draw FDI into the sector, thereby contributing to its rapid and modern development.

Prime Minister Pham Minh Chinh on March 12 chaired a meeting with ministries, sectors and localities, discussing plans to invest in an expressway connecting the northern provinces of Ninh Binh, Nam Dinh and Thai Binh, and another linking Gia Nghia city in the Central Highlands province of Dak Nong and Chon Thanh township in southern Binh Phuoc province.

The Resolution of the 22nd Congress of the Ninh Binh Party Organisation set a goal of improving the provincial business and investment environment and improving its competitiveness capacity. In an attempt to realise the target, Ninh Binh has implemented the District and Department Competitiveness Index (DDCI), thereby creating momentum for the province's socio-economic development.

The provincial People's Committee of Ninh Binh has decided to establish a working group in a bid to accelerate the implementation and disbursement of public investment in 2023.

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.

While consumption has shown signs of slowing down, attracting foreign investment with strong growth in realised capital but not yet recovering in newly registered capital, public investment will still be the main driver of economic growth in 2023.

New opportunities and challenges in socio-economic development require Ninh Binh to continue improving transport infrastructure, thus, right at the beginning of the 2020-2025 tenure, it has actively implemented a series of key projects in a bid to complete transport infrastructure for inter-regional connectivity, opening up new opportunities to further develop and attracting investment in the short and long terms.

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.

In the past years, Ninh Binh has stepped up planning and investment in infrastructure construction in a bid to attract secondary investors into industrial clusters.

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.