Business News

As the central city of Danang continues to be an attractive destination for foreign-invested enterprises, the city is expected to see more scrutiny on transfer pricing from local tax authorities and rising demand for related consultation services.

The current disruption to supply chains has created disadvantages for attracting foreign direct investment (FDI) and executing projects, and the downward trend in investment attraction was noted by the Ministry of Planning and Investment (MPI) in a recent report to the legislature.

Vietnam’s GDP is expected to expand by about 4.8% in 2021 despite its robust economic performance in the first half of this year. This forecast, two percentage points lower than the projection in December 2020, accounts for the negative impacts of the ongoing COVID-19 wave.

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2. Cable , metal cover , rubber supply
3. Spare parts for Mudloging Units supply
4. Electric gutter supply-bid cancel
5. Materials and components supply
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Key targets set out in resolution on socio-economic development plan for 2021-2025

During the first eight months of the year, the country recorded a total of 1,135 new projects from foreign investors with total registered capital of $11.33 billion. Foreign investors have also purchased shares and bonds worth $2.81 billion. FDI for the first eight months of 2021 reached $11.58 billion, a 2 per cent increase year-on-year.

The "Doi Moi" (renovation) policy, initiated by the 6th Congress of the Communist Party of Vietnam (December 1986) and further improved and developed by following congresses, has opened a turning point in the cause of national construction and development.

Given complicated COVID-19 pandemic development and its adverse impacts on global trade, Vietnam's exports still grew positively, partly driven by free trade agreements (FTAs) which reportedly helped diversify export markets and circumvent risks of unexpected developments.