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Rinding the new FDI wave that comes with TPP in Vietnam

Don Lam, chief executive officer and founding partner at VinaCapital, discusses the outlook for the Vietnam dong, foreign direct investment and the impact of the TPP in Vietnam.

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There appears to be a consensus that the Trans-Pacific Partnership (TPP) will bring strong inflows of foreign investment into Vietnam. 

In its latest forecast about the TPP’s impacts on Vietnam, the Hanoi-based Vietnam Institute for Economic and Policy Research said the country will see the biggest increase in foreign direct investment (FDI) thanks to the agreement, compared to the other 10 member economies.

Nguyen Mai, chairman of the Vietnam Association of Foreign Investment Enterprises, said he strongly believes that FDI will surge, possibly with the strongest inflows into the sectors of manufacturing, textile, electronics, and software outsourcing.

Mai said of all the TPP participants, the US seems to be the most eager to boost its investment in the country, considering that many of its businesses have recently come here to learn about local business environment.

TPP in Vietnam

“US investors will definitely rise to the top in Vietnam,” he said.

With 761 projects registered with more than $11 billion by August 20, the US is currently the seventh largest investor, according to the latest figures by the Foreign Investment Agency under the Ministry of Planning and Investment.

On the other hand, Mai expected an “unremarkable” rise in FDI flows from Japan, which is now already the second biggest investor after South Korea, with nearly $38 billion pledged for 2,725 projects.

Vietnam and Japan signed an economic partnership agreement in 2010, but since then investment from Japan has fluctuated, which means the new TPP may or may not help, he said.

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Investment

Vietnam sustains FDI growth amid US-China trade war

Japan was the largest source country, with 429 newly granted FDI projects totalling $8.5bn, MPI figures show

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Strong FDI figures in 2018 mark the sixth straight record year, following a string of strong realised FDI capital figures, estimated at $17.5bn in 2016, $15.8bn in 2015 and $14.5bn in 2014.

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Asean

ASEAN seeks measures to push sustainable tourism development

ASEAN members gathered in Vietnamst ouching upon measures to speed up sustainable tourism development.

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Nearly 200 delegates, including leaders of national tourism organizations (NTOs) of ASEAN members and the regional groupings partners gathered in Vietnams northern Quang Ninh province on Monday, touching upon measures to speed up sustainable tourism development.

Addressing the meeting, Nguyen Trung Khanh, general director of the Vietnam National Administration of Tourism, said tourism sector makes contributions to better political and cultural understanding, and closer bilateral and multilateral cooperation not only among regional countries, but also among nations in the world.

At the 49th meeting of NTOs of countries of the Association of Southeast Asian Nations (ASEAN) which opened on Monday in Quang Ninhs Ha Long city, the delegates also highlighted contributions of tourism sector to gross domestic product.

Thailand Is Second Most Visited Country In Asia

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts

But Bangkok has been engulfed by smog for the past few days, raising questions about how seriously the authorities are taking the air pollution problem in the Thai capital.

Experts warn of the threat to public health if the unhealthy air quality levels persist, urging authorities to enforce mitigation measures to protect people’s health

It has been almost a week since the PM2.5 level in Bangkok rose significantly, forming a thick layer of smog over the city, but authorities are still scrambling to find solutions to help ease the problem

Spraying water over Greater Bangkok’s sky, trying to produce artificial rain haven’t brought any significant results so far.

The Asia Pacific region has outperformed all other regions in terms of growth, with international tourist arrivals increasing an average 7% per year compared to the world average of 4%.

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts.

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016.

Source : English.news.cn

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Banking

Moody’s upgrades Vietnam’s ratings to Ba3 and changes outlook to stable

Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive

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Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive. (more…)


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