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Leveraging FDI for sustainable growth

To ensure sustainable development, Vietnam will need to strike a delicate balance between attracting foreign investment and fostering domestic capability. Vietnam’s economy expanded at an average annual rate of 6.1% between 2012 and 2022, making it one of the region’s fastest-growing economies, according to the Vietnam News Agency. This robust performance was fueled by a steady inflow of foreign capital. With its strategic location, competitive labor costs, and supportive policies, Vietnam has become a favorite destination for foreign investors. The country’s export-oriented economy has flourished due largely to the contributions of multinational corporations. However, the country faces challenges related to overreliance on foreign capital and limited domestic value addition. By strategically leveraging foreign investment to enhance domestic industries and create high-quality jobs, Vietnam can achieve a more resilient and sustainable economic growth trajectory. The current state of FDI in Vietnam Vietnam has witnessed a strong influx of foreign direct investment (FDI) in recent years, reinforcing its status as a manufacturing hub and a prime investment destination in Southeast Asia. In 2023, new FDI approvals amounted to an impressive US$36.61 billion, a 32.1% year-on-year increase, according to the Foreign Investment Agency under the Ministry of Planning and Investment. The manufacturing and […]
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New rules for commercial housing

The three most important legal documents related to the real estate market – the 2024 Land Law, the 2023 Real Estate Business Law and...

Coping with NPL market issues

As the International Finance Corporation (IFC) and South Korea’s Welcome Debt Trading Co. Ltd. (WDT) have agreed to spend US$60 million purchasing non-performing loans...

A useful tool for brand building

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Struggling around 1,200 points

Despite the consistent economic growth trajectory, the stock market, often seen as a barometer of economic health, hovers around the 1,200-point mark. This suggests...

Party General Secretary To Lam calls for revitalization of HCMC’S growth drivers

HCMC – Vietnam’s Party General Secretary and State President To Lam on Saturday expressed concerns about the diminishing pioneering spirit and leading position of...

Hanoi targets US$3.13 billion in FDI for 2024

HCMC – Hanoi City expects to attract US$3.13 billion in foreign direct investment (FDI) by the end of 2024, the capital city's leader said. The...

Vietnam to buy 100% excess rooftop solar power

HCMC - Vietnam will purchase all surplus electricity generated by rooftop solar systems that include storage batteries. The Government Office issued Notice No. 387/TB-VPCP detailing...

HCMC proposes additional VND2,500 billion for canal revamp

HCMC -  The urban infrastructure construction investment projects management unit of HCMC is seeking an additional VND2,500 billion (US$104 million) to fund an ongoing...

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