A confluence of factors, including its significance in the global tech supply chain, friendly FDI policies, existing industry clusters, a skilled labour force and extensive free trade agreements (FTAs), makes Malaysia an outperformer in the region
With 7.82 billion USD in foreign direct investment lured in 2024, the port city of Hai Phong and the northeastern province of Quang Ninh continued affirming their strong attraction as the two pillars of the northern economic triangle, besides Hanoi.
The northern port city of Hai Phong achieved a gross regional domestic product (GRDP) growth rate of over 11% last year, ranking third nationwide in terms of economic development.
A ceremony was held in the southern province of Binh Duong on December 18 to celebrate the 10th anniversary of its friendship and cooperative ties with Japan’s Yamaguchi prefecture (December 25).
Hanoi attracted 58.4 million USD in foreign direct investment (FDI) in October, bringing the total in the first ten months of this year to 1.6 billion USD.
Bac Ninh province continued topping the nation for foreign direct investment (FDI) influx with a total of over 4.2 billion USD during January-September on the back of its sound investment climate, modern infrastructure, and abundant labour force.
Malaysia's foreign direct investment (FDI) in the second quarter (Q2) of 2024 increased to 9.08 billion MYR (2.2 billion USD), reflecting a strong inflow of foreign capital.
Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s economic growth at 6% for the whole year on the back of the recovery of both domestic and foreign demand as well as production sector in the first half.
Vietnam remains a “bright star” of the Southeast Asian region despite power shortages and a weakened realty market last year, according to Kai Wei Ang, an ASEAN economist at the BofA Securities Inc., which is previously the Bank of America Merrill Lynch.
Vietnam’s industry sector has seen continuous recovery with the index of industrial production (IIP) expanding 6.0% year on year in the first four months of this year, according to the Ministry of Industry and Trade (MoIT).
The capital city of Hanoi witnessed 9,400 enterprises enter the market with the total registered capital of 97.6 trillion VND (3.84 billion USD) during January-April, falling 6% in the number of firms and rising 9% in capital as compared to the same time last year, according to the municipal Statistics Office.
Efforts to improve the investment environment made by the northern province of Bac Ninh, which borders Hanoi capital city, have proved effective, as it has been among leading destinations in Vietnam for foreign direct investment (FDI) inflows in recent years.
Representatives of foreign business associations have proposed several solutions to improve the investment and business environment in Ho Chi Minh City at a meeting with municipal officials hosted by the Investment & Trade Promotion Centre of the city on March 14.
With a series of cooperation document signing and investment licencing for foreign investors right from the beginning of the year, Vietnam expects impressive results in attracting foreign direct investment (FDI) this year.
Vietnam has attracted more than 4.29 billion USD in foreign direct investment (FDI) in the first two months of 2024, a year-on-year increase of 38.6%, according to the Ministry of Industry and Trade (MoIT)’s Foreign Trade Agency.
The northern province of Quang Ninh took the lead nationwide in foreign direct investment (FDI) attraction in the January-November period, with nearly 3.11 billion USD.
The southern province of Ba Ria-Vung Tau has attracted 20 foreign-invested projects worth 751 million USD since the beginning of this year, five projects higher and a 2.78-fold increase in capital compared to the same period last year.
While some southern localities have fulfilled their targets for FDI attraction, the clock is ticking for many others to complete their goals since there are only 1.5 months left to the end of 2023.
The Organisation for Economic Cooperation and Development (OECD) – Southeast Asia Ministerial Forum 2023 was organised under the theme of “Sustainable and Quality Investment: New Momentum for OECD- Southeast Asia Parntership” in Hanoi on October 26.
