Tuesday, July 5, 2022 10:23:45 PM - Markets open
VN-INDEX 1,181.29 -14.24/-1.19%
HNX-INDEX 277.94 -3.25/-1.16%
UPCOM-INDEX 87.19 -0.71/-0.81%
Foreign investors keep trust in Vietnam’s recovery
VietNamPlus - 9/27/2021 1:04:08 PM
 (0 ratings. You must sign in to rate.)
Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper.
 
The Swiss company Nestle said it is pouring an additional over 130 million USD, raising its total investment in Vietnam to 730 million USD to carry out a number of its projects in the next two years.
 
Urs Kloeti, Factory Manager of Nestle Bong Sen, was quoted by the newspaper as saying that his company believes in Vietnam’s role as an international and regional manufacturing hub in the future.
 
Alongside Nestle, other foreign firms have committed to maintaining operations in Vietnam despite the fourth wave of COVID-19 outbreaks that have forced various localities to apply stringent preventive measures.
 
Tetra Pak of Sweden has confirmed that it will pump 5 million EUR (5.86 million USD) to expand its existing 120-million-EUR plant in Binh Duong southern province.
 
The investment demonstrates the company’s trust in Vietnam’s strong economic recovery after the pandemic, according to Managing Director and President at Tetra Pak Vietnam Eliseo Barcas.
 
In particular, the LG Display project in Hai Phong northern port city has received additional investment twice this year, with 750 million USD in February and 1.4 billion USD in August.
 
Earlier this month, authorities in the northern province of Quang Ninh presented an investment registration certificate to a 365.6 million USD project of Jinko Solar Vietnam Co. Ltd., an affiliate of the Jinko Solar Holding Co. Ltd. The firm channeled nearly 500 million USD into a project in the province in March.
 
Despite current challenges triggered by the pandemic, Japanese firms in Vietnam are working to adapt and improve their production system in the new situation, said Chief Representative of the Japan External Trade Organisation (JETRO) in Hanoi Nakajima Takeo.
 
For his part, Alain Cany, Chairman of the European Chamber of Commerce (EuroCham) in Vietnam, said the European business community is determined to stand side by side with the Vietnamese Government in this tough time and believes that the Government will successfully bring COVID-19 under control like it did before.
 
As they have showed their determination to maintain operations in Vietnam, most foreign investors hope that the Government will promptly devise a clear plan for reopening and economic recovery, or else current investment plans will be delayed and newcomers cannot enter the country to study investment possibilities.
 
Despite COVID-19 impacts, foreign direct investment (FDI) inflows into Vietnam during the first nine months of this year rose 4.4 percent year on year to 22.15 billion USD, reported the Foreign Investment Agency under the Ministry of Planning and Investment.
 
The total imports-exports value of the FDI sector in the first eight months of the year also surged 31.2 percent to 297.43 billion USD, with exports accounting for 156.64 billion USD./.
 
VNA
 
Read original article here
 
Newer News
17:01 Cement prices rise, profits to fall
16:58 2022 GDP growth prospect: optimistic but also cautious
01/07 Vietnam’s economic growth accelerates on back of exports, manufacturing: Bloomberg
01/07 Global manufacturers gradually focus on Việt Nam
30/06 Vietnam’s CPI up 2.44% in six months
30/06 Vietnam enjoys trade surplus of 710 million USD in six months
30/06 Radical and long-term measures needed to boost public investment disbursement
30/06 Việt Nam's GDP hits 10-year high of 7.72% in Q2
29/06 Vietnam’s GDP expands 7.72% in second quarter of 2022
29/06 Việt Nam attracts more than $14 billion of FDI in H1
Older News
24/09 Foreign investors affirm confidence in Vietnam's economic recovery in post-COVID-19
24/09 Nine-month FDI inflows up 4.4 percent despite COVID-19
23/09 President receives representatives of US business associations, investors
22/09 Ministry investigates evasion of trade remedies for cane sugar
21/09 Foreign investment into Vietnamese start-ups expected to rise despite COVID-19
17/09 Vietnam’s tuna exports to EU see strong surge thanks to EVFTA
15/09 Many Vietnamese seafood exporters are not subject to US anti-dumping tariffs
15/09 Việt Nam’s consumer markets expected to grow by US$130 billion over next 10 years
13/09 Vietnam’s automobile sales slip to record low due to COVID-19
11/09 Vietnam enjoys major trade surplus with UAE
 
Newsletter Signup
Top Stories
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,181.29 -14.24/-1.19%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.