Business News

The People's Committee of Ho Chi Minh City has just submitted a document to the Prime Minister and Minister of Finance proposing a number of solutions to support businesses and people affected by the COVID-19 pandemic.

FDI investors still have confidence in the prospects of the Vietnamese economy for several reasons, Dorsati Madani, Senior Economist at the World Bank Viet Nam told VGP in a recent interview.

Foreign investment inflows into Việt Nam during the first nine months of this year rose 4.4 per cent year-on-ear to US$22.15 billion despite the impact of COVID-19, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

The progress of road transport infrastructure projects in the form of public-private partnership (PPP) investment method is being slowed down because investors are facing numerous obstacles with legal documents, according to the Vietnam Association of Road Systems Investors (VARSI).

The business community has actively sought new directions, applied digital transformation in business operations to make the most of business activities. Digital economy is more apparent than ever.

The newest edition of the Global Innovation Index (GII) ranked Vietnam 44th in the world, which is a considerable improvement on its average rank of 68th during 2013-2015. The country continues to take the lead in the lower-middle-income group since the previous year.

Only a few spare parts are produced domestically, forcing domestic manufacturing and assembling enterprises to import automobile spare parts from other sources, experts said.

Vietnam may attract about 30 billion USD in foreign direct investment (FDI) in 2021, posting a year-on-year rise of 2 percent, economists forecast, pointing to positive signs in FDI attraction in the first eight months of 2021 despite the complexities of COVID-19.