Business News

The northern port city of Hai Phong has set a target of attracting US$2.5-3 billion in foreign direct investment (FDI) in 2021, with priority given to industrial and service projects using modern and highly efficient technologies.

Foreign Direct Investment (FDI) registered in Vietnam hit US$28.53 billion in 2020 as of December 20, 2020, down 25% year on year, according to the Ministry of Planning and Investment. They disbursed US$19.98 billion of their registered value, down 2% year on year.

All goals and objectives in the 2020 Plan of the industrial and trade sector were successfully fulfilled to positively contribute to the overall economic growth of Vietnam at 2.91%.

Resolution 02/2021 is expected to continue to step up reforms to further improve the business environment and enhance national competitiveness.

Despite COVID-19 restricting the flow of foreign buyers and investors to Vietnam, positive signs were reported from local buyers in the last quarter of 2020 for high-end residences, brightening up 2021.

This year, the Ministry of Science and Technology will focus on building national sci-tech development plans for the next five years to promote socioeconomic development in the new era.

Vietnamese Minister of Industry and Trade Tran Tuan Anh and U.S. Trade Representative Robert Lighthizer have discussed economic and trade issues between the two countries over the phone.

Vietnam has been successful in controlling COVID-19 in 2020 and is likely to keep the situation contained next year, said Joseph Incalcaterra, chief economist for ASEAN at the HSBC Global Research, on an article recently published on www.dailymirror.uk.