2023-08-14 10:30:00
Investments in Vietnam remain positive despite the unfavorable economic situation
Investments in Vietnam are proving positive amid the lasting consequences of the COVID-19 pandemic and global political and economic developments.
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The production area of Foster Electronics Co., Ltd, in VSIP Bac Ninh Industrial Park.
Photo : BDT/CVN
Recently, the leaders of the province of Binh Thuân (Center) authorized investments in the chain of liquefied natural gas (LNG) projects in Son My. This is the beginning of the implementation of four large-scale projects: Son My GLN import terminal; Son My electrical center; connection of Son My power center and Son My – Phu My gas pipeline.
Among the investors participating in these projects, in addition to Vietnamese companies, there are also foreign investors, including AES (USA), EDF (France), Kyushu and Sojitz (Japan). AES and Sojitz are two investors who have implemented multi-billion dollar projects in Vietnam and continue to pour billions of dollars into it.
The Son My Power Center, comprising two plants, Son My 1 and Son My 2, will have an investment amounting to 4 billion USD and the Son My GLN import terminal project, nearly 1.34 billion USD…
An always attractive destination
The secretary of the Provincial Party Committee of Bac Ninh (North), Nguyên Anh Tuân, recently worked with Chen Tao, president of the group Victory Gaint Technology, specialized in electronic components leader of semiconductors in China. According to Chen Tao, his group has decided to build a 400 million USD factory in VSIP Bac Ninh.
Son My’s liquefied natural gas (LNG) projects. Photo: BDT/CVN
The authorities of Nghê An (Centre) recently also handed over the investment license to the Chinese sarl Innovation Precision Vietnam Co., Ltd for an aluminum alloy factory with a total investment of 165 million USD.
According to the Minister of Planning and Investment, Nguyên Chi Dung, the foreign investment capital registered in July 2023 reached more than 2.8 billion dollars, up almost 9% compared to the previous month; and 16.24 billion USD in the first seven months, up 4.5% year-on-year.
However, difficulties and challenges remain. In its recent report, EuroCham clarified that the shift of production activities from China to Vietnam has been slower than expected, there is a significant difference between forecasts and reality, with the majority of companies not having relocated yet. their output. The competition to attract foreign investment will become increasingly fierce, and without a timely policy response, Vietnam will be left behind.
Regarding this issue, Minister Nguyên Chi Dung said that Vietnam will continue to improve its mechanisms and policies and create competitive advantages to attract large-scale high-tech foreign investment, making great contributions to its socio-economic development. .
VNA/CVN
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