The Da Nang Hi-tech Park has received many projects in the first months of 2019.

Notably, foreign investment in science and technology surged sharply, helping it for the first time rank third in the hottest sectors in the country’s FDI attraction.

The positive move is continuing this month with many provinces and cities consecutively announcing licences for high-quality projects.

In the early days of March, the central city of Da Nang said it licensed two projects of American giants – leading global manufacturer of aircraft components American Universal Alloy Corporation and electronics manufacturer Alton International Enterprises – to set up their production bases at its hi-tech parks while some others also from the US, such as Key Tronic EMS, are also proposing projects in the park.

In the northern province of Bac Giang, Lenovo Group from China also expressed a desire to develop a computer component factory during a recent meeting with local authorities. The group said it would need 20-30ha of land for the factory’s development and its products would be exported to the US, the provincial portal reports.

Hanoi city, meanwhile, also expected to receive Ikea as the Swedish furniture giant plans to invest 450 million USD in a retail centre and warehouse system in the capital, Nguyen Duc Chung, Chairman of the municipal People’s Committee, told a recent conference held by the Ministry of Industry and Trade.

While Ikea’s local subsidiary is well advanced with plans to launch the Vietnamese centre, which will be Ikea’s main supply hub for its Southeast Asian market once completed, there are also forecasts that Apple could move its facility to the Southeast Asian country in the future.

Nguyen Van Toan, Vice Chairman of the Vietnam Association of Foreign Invested Enterprises, said that the rising high quality investment in Vietnam was a positive signal, especially when the inflow remained unnoticeable compared to the total FDI in Vietnam and the overseas investment capital of these investors in the world and ASEAN countries over the past years.

“The US, for example, invested some 300 billion USD in foreign markets every year while the investment in Vietnam was less than 1 billion USD,” Toan said.

Echoing Toan, Vo Tri Thanh, a senior economist at the Central Institute for Economic Management (CIEM), stated that a rise of high-tech FDI projects licensed in the first months of the year partly showed Vietnam as an attractive investment destination, buoyed by its free trade agreements, close proximity to major global supply chains, high economic growth potential and the Government’s success in improving the investment environment.

According to experts, the inflows of high-quality investors, especially big names, will help Vietnam solidify its position as a global manufacturing powerhouse besides appealing to many other big components suppliers to the country.

Bac Ninh province attracts more investment right on first days

Bac Ninh province, about 60km north of Hanoi, handed over investment licenses and signed land-use contracts with many domestic and foreign investors right on the first days of 2019, according to local authorities.

 

Vietnam remains attractive for investment in 2019: insider

Vietnam will remain an attractive investment destination in 2019, though impacts of the US-China trade tension that triggered a downturn in global stock markets in 2018 will not end soon, said Managing Director and Chief Investment Officer of VinaCapital Andy Ho.

 

Vietnamese Australian seeks for investment opportunities in Bac Giang

(BGO)- Recently, at the provincial Department of Foreign Affairs (DOFA), leaders of Bac Giang DOFA and Business Association had a meeting with some Vietnamese Australians seeking for investment opportunities and business partnership in the northern province of Bac Giang. The meeting was attended by Nguyen Hoang Trung, DOFA’s Director and Nguyen Duc Kha, Permanent Vice Chairman of Bac Giang Business Association.

 

Investment in Vietnamese startups triples in 2018

Investment in Vietnamese startups rose to $889 million in 2018, three times that of 2017.

 

Further improving business and investment environment

(BGO) – Nguyen Van Linh,  Chairman of Bac Giang provincial People’s Committee (PPC) cum Head of the Steering Board for supporting and investing in enterprises in Bac Giang province (Steering Board) on January 15 chaired a meeting to review the status of local investment support and business development in 2018 as well as execute the tasks and solution in 2019.  

 

Source: VNS/VNA