Vinh Phuc betters business climate to lure investments
The northern province of Vinh Phuc has worked to improve business environment and enhance provincial competitive capacity in a move to attract more foreign and domestic investments to the locality.
Inside a factory in Vinh Phuc province (Photo: dangcongsan.vn)
Vinh Phuc (VNA) – The northern province of Vinh Phuc has worked toimprove business environment and enhance provincial competitive capacity in amove to attract more foreign and domestic investments to the locality.
The provincial People’s Committee has given top priority to high-tech projectswhich are environmentally-friendly, make contributions to promoting technologytransfer, and help domestic companies to join global value chain.
Apart from removing bottlenecks for the investors, the province is paying dueattention to attracting investment from both traditional markets such as China,Japan and the Republic of Korea, member countries of the Association ofSoutheast Asian Nations (ASEAN) and countries who are members of free tradedeals like the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP).
Infrastructure developers were asked to accelerate construction at industrialparks in August while the management boards of industrial zones, departments,and localities have been ordered to handle challenges arising at Lap Thach I,Lap Thach II, Tam Duong I, and Thai Hoa – Lien Son – Lien Hoa industrial parks.
According to reports from the management boards of local industrial parks, some235.32 million USD was poured into 40 new FDI projects while 244.79 million USDwas added to 29 existing projects in the first seven months of this year,doubling the capital registered the same time last year and surpassing the setplan by 71 percent.
Also in the January – July period, the province approved investment licensesfor eight domestic projects and capital adjustment for another one, worth 2.64trillion VND (113.6 million USD) in total, nine times higher than the sameperiod in 2018.
Vinh Phuc province is now home to 330 projects, 270 of which are invested byforeigners and have a total investment of over 3.6 billion USD. Of the totalprojects, 246 are in operation, five FDI are halting operation, while constructionand equipment installation are being made to 28 others, and compensation andland clearance are underway for the remaining 51.-VNA
A conference introducing investment opportunities in Vietnam’s northern province of Vinh Phuc took place in Potsdam city of Germany’s Brandenburg state on August 28.
A delegation from Vinh Phuc held several activities and meetings in the Czech Republic on August 29 and 30 to attract investment to the northern province.
The northern province of Vinh Phuc has reaped impressive achievements in attracting foreign direct investment (FDI) over the past three decades, thanks to favourable geographical location and determination to improve business environment.
A delegation from Vietnam’s northern province of Vinh Phuc has hosted a workshop in Washington, the US, to introduce investment opportunities in the province to potential investors.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Inside a factory in Vinh Phuc province
