Vietnam
Foreign capital still heads to Vietnam
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.
Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.
Of the sum, 13.76 billion USD were disbursed, or 96.8 percent of last year’s same period.
Of the amount, 10.36 billion USD was invested in 1,947 new projects, down 5.6 percent in value and 29.4 percent in project number annually.
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.
Up to 5.73 billion USD were spent on shares, equal to 55.1 percent of the same period last year.
Foreign investors invested in 18 sectors, with manufacturing and processing absorbing about 9.9 billion USD, or 46.6 percent of the total investment. It was followed by electricity production and distribution with more than 4.3 billion USD, or 20.6 percent, real estate with around 3.2 billion USD and wholesale and retail 1.3 billion USD.
Among 111 countries and territories investing in Vietnam, Singapore took the lead with 6.77 billion USD, making up 32 percent of the total, followed by the Republic of Korea (RoK) with 3.17 billion USD, China 1.87 billion USD, Japan, Thailand and Taiwan (China).
In term of project number, the RoK came first with 499 projects, ahead of China with 271 projects, Japan 209 and Singapore 173.
Foreign capital was poured into 60 cities and provinces
The Mekong Delta province of Bac Lieu was the top destination with a liquefied natural gas project worth 4 billion USD, or 18.8 percent of the total investment. It was followed by Ho Chi Minh City with 3.25 billion USD, Hanoi 2.92 billion USD, Ba Ria-Vung Tau, Binh Duong and Hai Phong.
On the number of new projects, Ho Chi Minh City topped the list with 719 projects, followed by Hanoi with 409 and Bac Ninh 119.
Vietnam
Vietnam: Manufacturing to remain the key driver of growth
We expect robust exports, led by strong global demand for electronics, to continue to underpin solid economic growth over the remainder of this year with GDP forecast to rise close to 8%.
GDP growth was unchanged at 4.5% y/y in Q1. Manufacturing activity surged, while the recovery in service sector activity and construction continued albeit at a more subdued pace as some localised social distancing measures were reinstated.
(more…)
Lao Cai (VNA) –The northern mountainous province of Lao Cai has built a strategy to popularise the Sa Pa- Fansipan tourism trademark till 2025 with a vision to 2030.
(more…)
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...