The establishment of the ASEAN Economic Community (AEC) by the end of this year is expected to create huge prospects for Vietnam to draw foreign direct investment (FDI) from other ASEAN countries.
Hanoi (VNA) - The establishment of the ASEAN Economic Community (AEC) by the end of this year is expected to cre⛎ate huge prospects for Vietnam to draw foreign direct investment (FDI) from other ASEAN countries.
So far, eight nations in the bloc – Singapore, Malaysia, Thailand, Brunei, Indonesia, the Philippines, Laos, and Cambodia – are running 2,681 investment projects worth 56.32 billion USD in Vietnam, accounting for nearly 14 percent of foreign projects and over 20 percent of total registered capital in Vietnam.
Singapore is leading ASEAN nations in the field with 1,456 projects worth 33.45 billion USD.
ASEAN investors are present in 56 out of the 63 cities and provinces, and active in 18 out of the 21 sectors in the national economy. The processing and manufacturing industry makes up the majority of the bloc’s investment capital in Vietnam with 1,058 projects worth more than 24 billion USD.
The average capital of an FDI project from ASEAN is about 20 million USD, higher than that from other countries (14 million USD), according to the Ministry of Planning and Investment.
Effective ASEAN-invested projects include those run by the Vietnam – Singapore Industrial Park (VSIP). Currently, Vietnam is home to seven VSIP industrial parks in six localities: Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.
The Foreign Investment Agency under the Ministry of Planning and Investment said the prospects for Vietnam to draw FDI from ASEAN countries are enormous.
As an active member of the bloc, Vietnam has diversified bilateral cooperation across fields, the agency added. Its trade relations with other members are growing.
The ministry’s National Centre for Socio-Economic Information and Forecast said the formation of the AEC at the year’s end, along with the ASEAN Comprehensive Investment Agreement (ACIA), ASEAN Trade in Goods Agreement (ATIGA) and ASEAN Framework Agreement on Services (AFAS), would make the region more attractive.
Compared with other countries in ASEAN, Vietnam has more advantages thanks to its stable politics, and strong improvements to transport infrastructure and investment attraction policies.
The Vietnamese Government has created favourable conditions for domestic and foreign investors to operate in the country.
Vietnam Association of Foreign Investment Enterprise (VAFIE) Vice President Nguyen Van Toan suggested focusing on projects that create high export value and apply technology, particularly in the support industry.-VNA
Twenty years after joining the Association of Southeast Asian Nations, Vietnam has become an attractive destination for investors from the region, the Vietnam Investment Review reported, adding that ASEAN investments have greatly contributed to fueling the country’s economic development.
The Management Board of Industrial Zones in the southern province of Dong Nai has granted licences to seven foreign direct investment (FDI) projects worth over 32 million USD in August.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
Illustrative image (Source: baodanang.vn)
