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Posts Tagged ‘investment’

Viettel wins investment license in Mozambique

In Uncategorized on January 12, 2011 at 7:07 am

Viettel wins investment license in Mozambique

QĐND – Tuesday, January 11, 2011, 21:36 (GMT+7)

PANO – Movitel, a joint venture between the Vietnamese Military Telecommunication Group (Viettel) and Mozambique’s SPI Invespar Company, has received an investment license in the African country, according to Viettel Group.

After receiving the license, Viettel sent a delegation to Mozambique to carry out large projects. Movitel plans to invest nearly 400 million USD to build its infrastructure with 4,500 2G base transceiver stations and 1,200 3G base transceiver stations to meet the demand for local people in all areas of the country.

Movitel plans will introduce many communication services with cheap prices in Mozambique. The company targets to be one of the largest telecom firms in the market after one year operation.

Mozambique is the fourth foreign country in which Viettel has invested, after Cambodia, Laos and Haiti.

Translated by Duy Minh

Source: QDND

Policies have key role in attracting investment

In Uncategorized on January 12, 2011 at 7:06 am

Policies have key role in attracting investment

QĐND – Saturday, January 08, 2011, 20:29 (GMT+7)

Since the country began implementing the renewal process, policies encouraging investment in Vietnam have made great contributions to attracting Foreign Direct Investment (FDI).

The remark was made at a seminar held in Hanoi on January 7 to evaluate the role of policies on investment encouragement, the influence of FDI on Vietnam’s economy and future adjustment of those policies.

According to the Ministry of Planning and Investment, Vietnam had 12,213 FDI projects with a combined registered capital of US$192.9 billion in the 2001-2010 period. Of the capital, about US$63 billion has been put into operation.

Dr. Nguyen Tu Anh from the Central Institute for Economic Management said that FDI was an important supplement capital source for Vietnam’s economy and contributed to creating jobs as well as boosting exports and economic development of the country.

However, experts to the seminars said that future policies on investment encouragement should be aligned with practical legal frameworks and focus on transferring technologies to domestic enterprises.

Source: VNA

Source: QDND

Vietnam’s investment overseas to rise in 2011

In Uncategorized on January 8, 2011 at 4:12 am

Vietnam’s investment overseas to rise in 2011

QĐND – Monday, January 03, 2011, 20:37 (GMT+7)

Vietnam’s overseas investment capital is estimated to reach US$1.5-2 billion in 2011, of which US$700-900 billion expected to be disbursed, said an official of the Ministry of Planning and Investment (MPI).

Head of the MPI’s Foreign Investment Agency Do Nhat Hoang emphasised the need to monitor overseas investment activities to reasonably regulate the capital flow to stabilise the economy.

In 2010, Vietnam had 107 investment projects in 25 countries and territories with combined registered capital of US$2.926 billion. Disbursed capital totalled around US$900 million, of which over US$700 million was in the mining industry, US$70 million in agro-forestry and fisheries sector and distribution and retail sector accounted for US$53 million.

Source: VNA

Source: QDND

Vietnam welcoming third investment flow from the U.S

In Uncategorized on December 21, 2010 at 9:30 am

Vietnam welcoming third investment flow from the U.S

QĐND – Monday, December 20, 2010, 21:48 (GMT+7)

“Vietnam is expecting to have the third investment flow from the U.S.A. in the forthcoming time”, said Mrs Jocelyn Tran, Chairwoman of AmCham Vietnam.

According to Ms Tran, American businesses have been successful in doing business in Vietnam. Two-way trade between Vietnam and the U.S rose to around US$18 billion in 2010 from almost US$1 billion in the 1995-2000 period. Several large American companies such as Nike, MAST Industries and Target have made considerable contributions to this trend by increasing the volume of imported goods from Vietnam.

“I am confident to say that in the next ten years, the two countries’ trade turnover will reach US$35 billion and Vietnam will become one of the most important trading partners of the U.S.A. in ASEAN”, Ms Tran added.

However, at present only few big US manufactures are investing in Vietnam?

The U.S. investment in Vietnam can be divided into three main stages. The first stage is from 1995 to 2000, mostly in consumer goods to explore Vietnam’s market. The second stage started from 2001 to 2005 after the two countries had signed the bilateral trade agreement. The investment mostly came from foreign companies that cooperated with the American partners to build factories to manufacture textiles and garments, footwear and wooden furniture for export to the U.S.

The third investment flow, starting from 2006, came from the modern manufacturing industry with the construction of Intel Group’s assembling factory in Vietnam at the cost of  USD1 billion

During the first months of this year, 25 of the biggest companies in the U.S.A. in the list of top 500 Fortune companies with total turnover of around US$675 billion, set up their business in Vietnam, focusing on services,  energy, chemical and auto manufacturing.

Vietnam at present can attract foreign investment in modern manufacturing industries, however it should have more open policies in energy, transportation, telecommunications, retail trade and education.

Source: TTO

Translated by Vu Hung

Source: QDND

Saigontourist seeks Japanese investment for new hotel projects

In Uncategorized on December 16, 2010 at 9:38 am

Saigontourist seeks Japanese investment for new hotel projects

QĐND – Sunday, December 12, 2010, 22:2 (GMT+7)

Vietnam’s leading tourism company Saigontourist said it is looking for Japanese partners to invest in the development of 12 new hotels and tourism complexes.

General Director Nguyen Huu Tho said the company announced details of the projects to around 70 Japanese companies at a real estate conference in Tokyo late last month.

He said Saigontourist is looking for both capital investment and management cooperation.

“Many investors have made appointments for further discussion and the first meeting will be held in Ho Chi Minh City this month,” Tho said, noting that Japanese investors are, in general, very interested in business opportunities in Vietnam.

He said Saigontourist also plans to buy hotels in Japan as an attempt to expand its operation.

The tourism firm now operates around 100 hotels, resorts and restaurants around the country. It posted revenues of VND8.2 trillion (US$420.6 million) last year and planned to boost the figure to $1 billion in 2015.

The company plans to add 4,000 new rooms to its hotel system in the next five years.

Source: TBKTSG Online/Thanh Nien 


Source: QDND

Hanoi promotes tourism investment

In Uncategorized on December 16, 2010 at 9:37 am

Hanoi promotes tourism investment

QĐND – Wednesday, December 15, 2010, 21:7 (GMT+7)

On November 17th, at the Hanoi Museum, Hanoi’s Department of Culture, Sports and Tourism will hold a conference to introduce the city’s tourism potentials and call for investment in tourism, with the participation of around 200 delegates from businesses, relevant agencies and Japanese investors.

This is the first time Hanoi announces a list of tourism projects, as approved by the city, to businesses in order to help them take decisions on their investments.

In addition, Hanoi will also recommend the best sites for developing tourism with many investment incentives.

Source: toquoc

Translated by Van Hieu

Source: QDND

Calling for more investment into agriculture and rural development

In Uncategorized on December 16, 2010 at 9:34 am

Calling for more investment into agriculture and rural development

QĐND – Monday, December 06, 2010, 20:40 (GMT+7)

The Ministry of Agriculture and Rural Development held a conference in Quang Binh province on December 6 to call for more investment into agriculture and rural development in six north-central provinces from Thanh Hoa to Thua Thien-Hue.

In recent times, businesses felt reluctant to invest in agriculture in the north-central region, because the area is seriously affected by floods, storms and wind from Laos.

However, the Vietnam Rubber Group affirmed it is still safe to grow rubber there as only a few areas of rubber plantation were destroyed by storms in the region over the past 10 years.

At the conference, Minister of Agriculture and Rural Development, Cao Duc Phat said the north-central region has great agricultural potential for aquaculture because the region has 670km of coastal line, as well as 23 river mouths and lagoons. There is also has more than 1.6 million ha of forest land. It also has advantages in road, railway, sea and aviation transport, facilitating transportation of goods and abundant human. The region is frequently hit by natural disasters and floods, but it can be dealt with by applying advanced technologies and growing suitable plants, said Mr Phat.

In the 2011-2020period, the six provinces will call on businesses to further invest in rubber plantations, raising cows and developing aquaculture and seafood processing. Investors in these fields will be granted incentives, such as exemption from land tax, financial support of 50-100 percent training fees for workers, 50-70 percent of advertising fees and 50 percent of transportation costs.

At the conference, businesses signed three projects for agriculture in the region. The Vietnam Rubber Group also donated VND500 million to central flood victims.

Source: VOV

Source: QDND

Eurocham sees investment climate improvement

In Uncategorized on November 26, 2010 at 1:51 pm

Eurocham sees investment climate improvement

QĐND – Friday, November 26, 2010, 20:41 (GMT+7)

Eurocham has acknowledged Vietnam ’s progress in improving its trade and investment environment, particularly in intellectual property and administrative reform, in year-end months.

The statement was made by Alain Cany, Chairman of the European Chamber of Commerce in Vietnam (Eurocham) while launching the “White Book of Trade/Investment Issues and Recommendations” in Hanoi on Nov. 25.

The White Book, the third edition, will serve as a reference for the Vietnamese Government to address limitations in Vietnam ’s competitiveness such as the quality of labour force, infrastructure, energy supply, encouragement of Public-Private Partnership (PPP), and regulatory and administrative reform, said the Eurocham chairman.

As in prior editions, the White Book 2011 aims to summarise some of the key issues affecting the business operations of over 700 European business members in Vietnam . The companies are involved in pharmaceuticals, energy, telecommunications, automobile, tourism and banking sectors.

The White Book 2011 includes additional views on the important areas of PPP and nutritional foods, which drew special attention from EU businesses.

The book will serve as useful information for European companies to better understand Vietnam ’s economic development and legal and investment environment, said Jean-Jacques Bouflet, Minister-Councillor for Trade and Economics at the European Commission delegation.

The edition will also help the Vietnamese Government to clearly understand investors’ interests and aspirations, he added.

It will also support future negotiations on free trade between Vietnam and EU, he said.

Source: VNA

Source: QDND

VN welcomes Bulgarian investment

In Uncategorized on November 19, 2010 at 2:01 pm

Northwest region steps up investment

In Uncategorized on November 15, 2010 at 2:32 pm