Want to be in the loop?
subscribe to
our notification
Business News
MINISTRIES, LOCALITIES URGED TO ROLL OUT MEASURES TO INCREASE FOREIGN INVESTMENT
Deputy Prime Minister Trần Lưu Quang has asked ministries, sectors and localities to promptly implement solutions to strengthen foreign investment attraction, according to a document released by the Government Office.
According to the document, the solutions have been clarified in Decision 667/QĐ-TTg issued by the Government on June 2, 2022 approving the foreign investment cooperation in the 2021-30 period, and Decision 308/QĐ-TTg approving an action plan to realise the strategy.
Deputy PM Quang ordered the Ministry of Planning and Investment (MPI) to co-ordinate with localities to strengthen State management over investment, and strengthen post-investment support to minimise and prevent conflicts with foreign investors.
The MPI was requested to assist localities in policy consultations and preparations to receive foreign investment inflows on the win-win spirit, while popularising Việt Nam's readiness to welcome new-generation investment as well as the country's advantages and potential.
It was necessary to complete non-tariff policies for high technology projects when the global minimum tax is applied, asked the Deputy PM.
He urged the Ministry of Finance to work with other ministries and sectors to assess the impacts of the global minimum tax regulations and give advice to the Government and National Assembly on the issuance of effective policies with a suitable roadmap to minimise negative impacts and efficiently adapt to the regulations, while adjusting Việt Nam's investment incentive framework to suit the new context and improve competitiveness in foreign investment attraction.
The Deputy PM assigned the Ministry of Industry and Trade to speed up the issuance and implementation of policies to ensure that the capacity of the domestic supporting industries meets the development requirements, so that Vietnamese firms could engage in the supply chain of FDI businesses. The ministry should promote the implementation of power projects following the 8th National Power Development Plan to deal with the power shortage in some localities, he asked.
The Deputy PM also assigned specific tasks to particular ministries and sectors to strengthen investment attraction.
Particularly, he asked the People’s Committees of centrally-run cities and provinces to strengthen their capacity and reform the administrative procedures to better serve the people and enterprises.
They should provide the best conditions to foreign investors in terms of administrative procedures, land stocks, infrastructure, and labourers, he added.
Source: VNS
Related News
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/FDI.jpg)
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.
![Card image cap](/uploads/news/Eco4.jpg)
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.