The Foreign Investment Agency under the Ministry of Planning and Investment has recently announced that between the start of the year and May 20, 2023, the total registered foreign investment capital in Vietnam reached US$10.86 billion.
The Global Minimum Corporate Tax was mentioned and started affecting the investment environment worldwide ten years ago, but it has been brought up a lot in Vietnam recently.
Ho Chi Minh City leads the whole country in terms of new projects (39.5 percent), number of adjusted projects (21.8 percent), and capital contribution and share purchases (69.3 percent).
Vietnam lured US$1.69 billion worth of foreign investment in the first month of 2023, down 19.8 percent year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Among 54 provinces and cities nationwide that foreign investors have invested in 2022, Ho Chi Minh City leads with a total registered investment capital of more than US$3.94 billion.
Ho Chi Minh City (HCMC) licensed 807 foreign invested projects worth US$3.54 billion in the first 11 months of this year, up 3.3 percent in value from a year earlier, according to the General Statistics Office.
Vietnam attracted US$25.1 billion in foreign investment in the first 11 months of 2022, up 0.5 percent month-on-month but down 5 percent year-on-year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has said.
Representatives from foreign-invested businesses and business associations frankly pointed out shortcomings and obstacles, and proposed solutions to promote development in Vietnam at a hybrid meeting with Prime Minister Pham Minh Chinh on September 17.
Many provinces and cities across Vietnam have announced quite optimistic results in attracting Foreign Direct Investment (FDI) projects in the last months of the year.
The Vietnamese medical devices market, which is growing annually at more than 18 percent, relies heavily on imports, representing significant opportunities for foreign businesses, according to the Ho Chi Minh City Medical Equipment Association.
The Management Board of the Saigon High-Tech Park (SHTP), on June 27, held a conference to promote investment in SHTP, with the attendance of Mr. Phan Van Mai, Member of the Party Central Committee, Chairman of the People's Committee of Ho Chi Minh City; leaders of departments and agencies, businesses, and investors.
Prime Minister Pham Minh Chinh on June 25 attended the Da Nang 2022 Investment Forum held in both online and in-person formats in the central city of the same name with the participation of a total of 900 delegates.
The Vietnam Association of Foreign-Invested Enterprises (VAFIE) officially announced the first annual report on FDI in 2021 on May 10. Vietnam is the third-largest FDI recipient in the region.
Mr. Phan Van Mai, Chairman of the People's Committee of Ho Chi Minh City, emphasized that in the development goal, the city focuses on developing economic and technical infrastructure, social infrastructure, and digital infrastructure. These are the three areas that HCMC pays special attention to and wants to have long-term cooperation for the development of the city and the whole country, as well as the development of enterprises.
Chairman of the Ho Chi Minh City People's Committee Phan Van Mai gave investment certificates to ten investors with a total capital of nearly US$430 million (more than VND8.4 trillion) and handed investment memorandums to 31 investors with a total capital of nearly $16.2 billion (more than VND370 trillion) at the Investment Promotion Conference in Hoc Mon and Cu Chi districts in 2022 on the afternoon of April 12.
Vietnam remains an attractive destination for Foreign Direct Investment (FDI), which is likely to experience a surge in 2022 after a long hiatus due to the pandemic, according to economic experts.
Information from foreign business associations in Vietnam shows that, in 2022, new foreign capital flows into Vietnam will not change suddenly. On the contrary, foreign capital flows from production expansion activities of existing foreign enterprises in Vietnam will increase sharply.
Leaders of Binh Duong province on January 17 met with Vice President of the LEGO Group Preben Elnef, who said the Danish toy manufacturer will accelerate the construction of its US$1 billion factory here as committed.
