HCM City attracts 1.6 billion USD in FDI in first five months
Ho Chi Minh City attracted a combined 1.6 billion USD in foreign direct investment (FDI) in the first five months of 2020, or 57.67 percent compared to the same period last year.
Hanoi (VNA) – 🐭Ho Chi Minh City attracted a combined1.6 billion USD in foreign direct investment (FDI) in the first five months of2020, or 57.67 percent compared to the same period last year.
The information was revealed during a conference on thecity’s socio-economic development held on June 4. Of the 47 countries and territories investing in thesouthern hub, Japan was the top with 44 projects worth 80.5 million USD, holdinga lion’s share of 32.4 percent in terms of additional capital. Singapore came second with a total of 50.8 million USD inregistered capital, followed by Hong Kong (China) and the Republic of Korea. The city posted a budget collection of nearly 139.40 trillionVND (6 billion USD) during Jan-May, hitting 34.35 percent of the year’sestimates and 84 percent of the same period last year./.
FDI inflows to HCM City rose to nearly 70 million USD in the first quarter of 2020 thanks to the gradual redirection of investment flows due to COVID-19.
Ho Chi Minh City has reached its goal to have 20 doctors per 10,000 people after implementation of a five-year programme on improving the quality of health care services for local residents.
Ho Chi Minh City has committed to coordinating closely with the Japan International Cooperation Agency (JICA) to effectively carry out projects using the Japanese Government’s ODA.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has requested more efforts to perform the dual task of recovering the economy while fighting COVID-19.
The southern economic hub of Ho Chi Minh City has spent 465 billion VND (20.2 million USD) supporting more than 336,550 business households and employees seriously affected COVID-19, according to Director of the municipal Department of Labour, Invalids and Social Affairs Le Minh Tan.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
A corner of Ho Chi Minh City (Photo: VNA) 
