Promotion highlights

Free ERC application

To help clients minimize initial costs, RSL Group offers a special promotion of free business registration certificate (ERC) application. In addition, we commit to supporting investors to make the ERC application process easier, faster, and fully compliant with regulations.

IRC application consultation and support

The complex procedures of Investment Registration Certificate (IRC) application can delay project timelines. To help clients accelerate their projects, RSL Group offers consultation and support throughout the IRC application process.

Free factory layout design & optimization package

To assist enterprises in optimizing production operations and managing effectively, RSL Group provides clients with a free factory layout design and optimization package for a practical and efficient factory, which ensures flexibility and resource savings.

And many more offers await.

Contact RSL Group via hotline 0912.949.393 for more detailed information !

Offer period: 

Offer valid from October 1, 2024, to December 31, 2024

RSL Group Service Ecosystem

Investment in Vietnam is not just the matter of finance; it also requires a deep understanding of the market, legal environment, and investment conditions of different localities. Choosing the suitable consultant firm is crucial to ensure that all procedures are carried out smoothly and to enhance the chance of success.

RSL Group – Your perfect choice:

• Comprehensive service ecosystem 
• Continuous support throughout the project 
• The most competitive price 

RSL Group offers investment consulting and legal support services, providing clients with accurate information to make well-informed investment decisions.

• Industrial Real Estate Consulting & Promotion
• Investment Project Analysis & Survey
• Mergers and Acquisitions (M&A)
• Legal Consulting and Support
• Financing Support for 50-Year Industrial Land Lease
• Factory Design and Construction

Contact RSL Group via hotline 0912.949.393  for more detailed information about our services.

RSL Group – Comprehensive investment promotion

Selecting the suitable consulting firm is crucial to the success of any investment project in Vietnam. With a team of experienced experts, a nationwide portfolio of industrial real estate, and a comprehensive service ecosystem, RSL Group is dedicated to delivering the most efficient and tailored investment solutions to our clients.

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RSL Group Company Limited

Head office: 5th Floor, Charmvit Tower, 117 Tran Duy Hung Street, Cau Giay, Hanoi

Address: 3rd Floor, Building 35 Hung Vuong, Dien Bien Ward, Ba Dinh, Hanoi

Address: Sao Bien Villa Area 3.17 Vinhomes Marina Cau Rao 2, Vo Nguyen Giap Street, Le Chan, Hai Phong

Hotline: (+84) 913.933.593 – (+84) 912.949.393

Email: info@rslgroup.vn

Website: www.rslgroup.vn

Email: info@rslgroup.vn

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The first batch of semiconductors

The Amkor Technology Vietnam project, located in the Yen Phong II-C Industrial Park in Bac Ninh province, spans 23 hectares and has an initial investment capital of approximately $530 million.

Amkor Bac Ninh officially commenced operations in August. According to company leaders, it has already secured deals with four customers and successfully exported its first batch of semiconductors. The company is currently negotiating with six additional customers for future orders.

The global semiconductor landscape

Thailand, Vietnam, and Singapore are all major competitors to become the leading regional country in the semiconductor manufacturing industry. The chip manufacturing sector is currently booming on the global scale due to the demand for AI technology and electric vehicles.

Previously, The Nation (Thailand) supposed that Thailand would need to make significant efforts to attract semiconductor manufacturers as it competes directly with Vietnam and Singapore.

The country’s Board of Investment (BOI) stated that they would propose new measures to accelerate manufacturing investments under Prime Minister Paetongtarn Shinawatra, focusing on two main industries: semiconductors and batteries.

For Singapore, as regional competition intensifies, the country is also shifting to different approaches to attract businesses. According to Channel News Asia, besides ensuring stable infrastructure for chip manufacturing plants, some of the tactics the Singaporean government employs include offering free services, establishing supply chains in F&B, retail, and even childcare services.

Singapore hopes that this move will create vibrant and convenient zones, fostering business growth, thereby attracting investment from major corporations and promoting the semiconductor industry.

Vietnam’s semiconductor industry potential

In fact, Vietnam has many reasons to become an attractive destination for the semiconductor industry.

According to Minister Nguyen Manh Hung, in terms of the semiconductor industry, besides the geopolitical advantage, Vietnam has another edge: the Vietnamese people possess a genetic inclination towards science, technology, engineering, and mathematics (STEM), which aligns well with the semiconductor sector. This unique advantage cannot be replicated.

Additionally, the opportunities for Vietnam’s semiconductor industry are tremendous:

The world is restructuring the semiconductor industry toward supply chain diversification (X+1), not only in manufacturing but all stages of the semiconductor industry. Vietnam is among the few countries that are the “1” in this model. 

The world is facing a global shortage of workforce in the semiconductor sector. This occurs on a global scale, but mainly short and medium-term. Meanwhile, Vietnam can meet the global semiconductor workforce demand in the short, medium, and long terms.

Vietnam ranks second globally in rare earth reserves for the semiconductor industry. Rare earth elements and chemicals are indispensable inputs for the semiconductor sector.

Vietnam has been involved in the semiconductor industry for 20 years and has established an initial foundation in workforce training, design, packaging, and testing.

Source: Redsunland

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RSL Group –  Comprehensive investment promotion solution

Hotline: 0912.94.93.93 – Ms. Thanh Ha
Website: https://www.rslgroup.vn/
Email: info@rslgroup.vn

From January to August this year, foreign investors poured capital into 54 provinces and cities across the country; and Bac Ninh led with a total registered investment of nearly USD3.47 billion, accounting for 16.9% of the country’s total investment and nearly triple that of the same period last year, Mr. Vuong Quoc Tuan, Chairman of the Bac Ninh Provincial People’s Committee, said.

Earlier, in the first six months of 2024, Bac Ninh was the leading locality in the country in attracting foreign direct investment (FDI). From the beginning of the year to June 20, the total newly registered, adjusted capital, and share purchase capital contributed by foreign investors in Vietnam reached nearly USD 15.2 billion, an increase of 13.1% compared to the same period last year. The implemented capital of foreign investment projects was estimated at approximately USD 10.84 billion, an increase of 8.2% over the same period in 2023.

To date, Bac Ninh has approved 1,586 investment projects from foreign investors, with a total adjusted capital of VND 269.786 trillion. The Bac Ninh Provincial People’s Committee aims to attract approximately USD 7 billion in foreign direct investment (FDI) in 2024. This impressive growth is mainly driven by a significant capital adjustment project worth USD1.07 billion from Amkor Technology Vietnam at the Yen Phong II-C Industrial Park, bringing Amkor’s total investment to USD1.6 billion, with a production capacity of 3,600 million products per year.

To achieve the FDI target of around USD 7 billion in 2024, the province is focusing on administrative reforms, improving the investment environment, upgrading transportation and industrial infrastructure, enhancing the quality of human resources, and strengthening investment promotion.

Bac Ninh has approved 167 investment projects for 2024, with a strategic vision extending to 2030, covering a total land area of approximately 11,638 hectares.

The strong growth of Bac Ninh in attracting FDI is supported by the development of infrastructure, a stable workforce, and efforts to streamline administrative procedures. With this promising project portfolio, Bac Ninh aims to become a dynamic and modern province, positioning itself among the top provinces in the country for both domestic and foreign investment attraction

Source: The World and Vietnam Vietnam Report

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RSL Group –  Comprehensive investment promotion solution

Hotline: 0912.94.93.93 – Ms. Thanh Ha
Website: https://www.rslgroup.vn/
Email: info@rslgroup.vn

Direction for FDI Inflow into Vietnam

Recently, there have been reports suggesting that “FDI eagles” are leaving Vietnam, citing Heineken’s temporary suspension of its brewery operations in Quang Nam since mid-June 2024.

In fact, although there is a trend of scaling down and relocating, this does not mean that “FDI eagles” are leaving Vietnam. The FDI wave is shifting to other key sectors such as the semiconductor and AI industries.

Following Heineken’s recent closure of its plant in Quang Nam, the company invested over VND 12,600 billion in Ba Ria – Vung Tau to build a brewery with a capacity of 1,600 million liters per year. Ba Ria – Vung Tau now hosts Heineken’s largest brewery in Southeast Asia.

Ms. Trang Bui, General Director of Cushman & Wakefield Vietnam, shared this information during a press conference on the “HCMC Real Estate Market in the First Half of 2024.”

“The contraction of some brands like Unilever (in consumer goods) is due to the fact that domestic conglomerates like Masan are performing well and taking over the market. On the other hand, international semiconductor businesses are expanding. We have been working with many U.S. partners who want to expand in Vietnam in this field,” Ms. Trang shared.

According to Ms. Trang Bui, the contraction or expansion of factories is inevitable. However, this does not imply that “FDI eagles” are leaving Vietnam. One crucial factor to note is that Vietnam is a vital link in the supply chain, not an international financial hub.

In the first six months of 2024, FDI inflows into Vietnam continued to follow an increasing trend, with a focus on the processing and manufacturing industries. Ms. Trang noted that the competition for FDI is particularly fierce in the semiconductor sector.

CBRE Vietnam also recorded that electronic manufacturers continue to lead the market in the North with significant transactions from Victory Giant and Foxconn in Bac Ninh. In the South, there is a trend towards expanding into markets like Long An and Ba Ria – Vung Tau, where industrial land is still relatively abundant, and rental prices are more competitive compared to other primary markets.

The Semiconductor and AI Race

The semiconductor and AI race in the Asia-Pacific region is intensifying. Everyone wants to become a hub for semiconductors and AI. Japan, South Korea, Singapore, Taiwan, and China all aim to be the leaders. India has many advantages with numerous preferential policies, and Vietnam is also actively participating in this race.

Amid the wave of investment shifts in the region, the Indian government has continuously introduced large-scale support packages to attract investment from companies in high-tech sectors.

The Indian government announced a large-scale support package to attract investment from companies in high-tech sectors such as batteries and semiconductors. The government even offers financial support ranging from tens to hundreds of millions of USD, including reimbursing 40% and 50% of construction costs for investors building battery and semiconductor manufacturing plants.

Deputy Minister Kumar Singh stated: “Our goal is to attract large-scale battery manufacturing plants with an annual production capacity of 20GWh or more. We plan to support 40% of the construction costs and provide subsidies worth 300 million USD for battery production.” 

So far, the government is expected to support 40% of the construction costs for battery manufacturing plants, and additional support from state governments where the plants are located is also being considered.

Semiconductors are also mentioned as a key field attracting FDI. Deputy Minister Kumar Singh revealed that if investors collaborate with an Indian company to build a plant, they could receive support of up to 10 billion USD. The Indian government is expected to support 50% of the necessary construction costs as a subsidy.

As the importance of semiconductors in the supply chain increases, large-scale support measures are being implemented to attract manufacturing facilities. Not only the central government, but also local governments have planned to support 20% of the construction costs. A prime example is Micron, a U.S. memory semiconductor company, which decided to invest 2.75 billion USD to build a post-processing semiconductor plant in Gujarat, India, last June.

Source: Redsunland

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RSL Group –  Comprehensive investment promotion solution

Hotline: 0912.94.93.93 – Ms. Thanh Ha
Website: https://www.rslgroup.vn/
Email: info@rslgroup.vn

GDP in the First 6 Months of the Year

Economic and social statistics for the second quarter of 2024 and the first 6 months show that the economy continues its positive trend, with each quarter surpassing the previous one. Accordingly, GDP in the second quarter of 2024 grew positively, with an estimated growth rate of 6.93% compared to the same period last year, only lower than the 7.99% growth rate of the second quarter of 2022 in the 2020-2024 period.

Specifically, the agriculture, forestry, and fisheries sector grew by 3.34%, contributing 5.36% to the overall added value growth of the entire economy; the industry and construction sector grew by 8.29%, accounting for 45.73%; and the services sector grew by 7.06%, co 48.91%.

With this growth rate, GDP in the first 6 months of 2024 increased by 6.42%, only slightly lower than the 6.58% growth rate of the first 6 months of 2022 in the 2020-2024 period.

In the overall added value growth of the entire economy, the agriculture, forestry, and fisheries sector increased by 3.38%, contributing 5.96%; the industry and construction sector grew by 7.51%, contributing 44.28%; and the services sector grew by 6.64%, contributing 49.76%. It can be seen that the industry and construction sector contributed the most to the overall economic growth, indicating an increasingly clear recovery trend.

FDI in the First 6 Months of the Year

FDI in the first 6 months of the year is also a bright spot for the economy.

As of June 20, 2024, total registered foreign investment in Vietnam, including newly registered capital, adjusted registered capital, and value of capital contributions and share purchases by foreign investors, reached nearly USD 15.19 billion, up 13.1% compared to the same period last year.

Specifically, there were 1,538 newly licensed projects with registered capital reaching USD 9.54 billion, up 18.9% in terms of the number of projects and up 46.9% in terms of registered capital compared to the same period last year.

The manufacturing and processing industry received the largest amount of newly registered foreign direct investment, which reaches USD 6.83 billion, accounting for 71.6% of the total newly registered capital; real estate business activities reached USD 1.89 billion, accounting for 19.9%; and the remaining sectors reached USD 817.6 million, accounting for 8.5%.

According to the recently published data from the General Statistics Office, in the first 6 months of this year, the disbursed FDI in our country is estimated at USD 10.84 billion, up 8.2% compared to the same period last year. This is the highest disbursed foreign direct investment capital for the first 6 months of the year in the past 5 years.

Source: Redsunland

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Potential of vietnam’s electronics and semiconductor industry

In fact, the Prime Minister mentioned that several major global corporations are currently investing in semiconductor manufacturing in Vietnam, such as Intel, Samsung, and Synopsys. Additionally, top global corporations like Google, Apple, Meta, and Nvidia (companies with market capitalizations in the trillions of dollars) are also exploring investment opportunities in this sector in Vietnam. 

The semiconductor market in Vietnam is expected to increase by 1.65 billion USD by 2025, with a growth rate of approximately 6.5% per year (according to research firm Technavio).

At the forum, Mr. Sebastian Buckup, Member of the WEF Executive Committee, Director of WEF Networks and Partnerships, noted that after nearly 40 years of innovation, Vietnam’s economy has made remarkable progress with innovation being considered the main driving force. Innovation not only helps address regional and global challenges but also promotes sustainable development for each country and the world as a whole. Prime Minister Pham Minh Chinh emphasized that innovation is one of the main drivers to stimulate economic growth in every country, including Vietnam.

Vietnam’s preparation for the wave of investment

To attract major corporations, Vietnam has taken numerous practical and effective actions in recent years to promote innovation, such as: developing priority policies to foster innovation and entrepreneurship; creating strategies and development programs focused on the digital economy, green economy, circular economy, sharing economy, and knowledge economy, especially in high value-added sectors like big data, cloud computing, artificial intelligence (AI), semiconductors, and hydrogen. 

Additionally, Vietnam has focused on developing infrastructure, including digital infrastructure, electricity, water, transportation, and social infrastructure like education and healthcare. The country has also put great importance on high-quality human resources and identified internal resources (people, natural resources, and cultural and historical traditions) as fundamental, strategic, long-term, and decisive; external resources (including financial, technological, management, and training resources) as important factors.

Prime Minister Pham Minh Chinh emphasized that Vietnam is leveraging public investment to lead private investment and mobilize all societal resources to drive innovation and entrepreneurship. 

At the forum, regarding initiatives to support startups and innovation activities in Vietnam, Prime Minister Pham Minh Chinh stated that Vietnam is implementing five groups of solutions comprehensively to improve institutions, support policies, and promote innovation and entrepreneurship. This includes implementing national programs and projects to support the innovation startup ecosystem, supporting students and pupils in entrepreneurship, digital transformation support programs for businesses, and the Vietnam Innovation Challenge program.

Furthermore, Vietnam continues to improve comprehensive infrastructure and technical systems to support innovation; train innovative human resources (including the development and implementation of a human resources development plan for the semiconductor industry by 2030). The country is also mobilizing international resources to support innovation.

Vietnam welcomes foreign investment 

At the forum, enterprises posed many questions to the Prime Minister regarding the role of foreign startups in the period of Vietnam’s  transition to a knowledge-based economy.

The Prime Minister acknowledged that foreign startups are a driving force that supports and promotes innovation development. This is reflected in three main roles: technology and knowledge transfer; fostering competition, innovation, and international cooperation; and facilitating the transition to a knowledge-based economy

The Prime Minister stated that Vietnam always welcomes, encourages, and facilitates foreign enterprises to invest in all sectors—agriculture, industry, and services—in a green, clean, and sustainable manner.

Source: Redsunland
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FCPV Foxconn Bac Ninh

Taiwanese electronic giant Foxconn, a major Apple supplier, will invest $383.3 million in a new project to manufacture printed circuit boards (PCB) in the northern province of Bac Ninh.

According to an investment certificate granted by the provincial authorities earlier this month, Foxconn Singapore Pte Ltd., a Foxconn subsidiary, will be the project investor.

The factory, called FCPV Foxconn Bac Ninh, will cover 14.3 hectares at the Nam Son-Hap Linh Industrial Park, a facility invested by one of Vietnam’s leading industrial real estate development companies, Kinh Bac City Development Holding Corporation.

The plant will have an annual capacity of 2.79 million items, equivalent to 2,989 tons.

This giant supplier plans to complete administrative procedures in the first quarter of 2025, build the factory from Q1/2025 to Q1/2026, install machines and conduct trial production from Q1/2026-Q3/2026, and start official operations in Q3/2026.

Per documents signed by Foxconn and Kinh Bac City Development Holding Corporation, listed on the Ho Chi Minh Stock Exchange (HoSE) as KBC, the latter will receive land lease payments of $21.4 million, not including taxes and fees.

About Foxconn Vietnam

The Apple supplier has been investing in Vietnam since 2007 and had invested over $3.2 billion in the country before the latest move.

The Taiwanese electronics giant recorded a total operating income of $6.7 billion from its affiliated companies in Vietnam in 2023, according to its annual report.

Foxconn’s Vietnam units recorded total operating profits of $280.8 million and post-tax profits of $305.4 million.

In May, the company’s spokesperson James Wu said the firm will focus on expanding production in China, India, Mexico, and Vietnam. “In Vietnam, we will focus on computing products,” he added.

Source: The investor

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New Vietnam – Singapore Industrial Park

The VSIP Lang Son covers an area of nearly 600 ha in two communes of Ho Son and Hoa Thang in Huu Lung district. The project has a total investment of 6.361 trillion VND (nearly 250 million USD) with the investor VSIP JSC contributing over 954 billion VND.

The first phase of the project is expected to be completed and go into operation in the third quarter of 2025 while the second phase will complete in September 2026 and the third phase in September 2027. The industrial park is expected to create about 40,000 jobs when all the three phases turn operational.

VSIP is a joint venture between Vietnamese real estate developer Becamex and Singapore’s Sembcorp Development. The joint venture recorded a post-tax profit of VND1,703 billion ($66.9 million) in 2023, down 24.6% year-on-year, according to the firm’s filing with the Hanoi Stock Exchange (HNX).

The Groundbreaking Ceremony

Speaking at the groundbreaking ceremony, Chairman of the Lang Son provincial People’s Committee Ho Tien Thieu said that the IP will bring great benefits to the investor, help to increase the province’s industrial production value and goods production value, create more jobs and incomes for local people, and contribute to the local socio-economic development. The industrial park also helps show the province’s efforts in implementing administrative reforms, improving business investment climate and attracting investors. The unprecedented expansion of the chain of VSIPs in recent years reflects not only the strong interest of foreign investors in Vietnam but also the success of the Vietnamese Government in creating a favorable investment environment, he said.

The diplomat expressed a hope that the VSIP Lang Son will play a key role in facilitating higher-quality investments from Singapore, especially in infrastructure development, supply chain services and logistics, green economy and agricultural processing, which are areas with strong potential and ample room for further development. 

Speaking at the groundbreaking ceremony, Lee Ark Boon, CEO of Singapore’s Sembcorp Development, one of the partners in the VSIP joint venture, said VSIP Lang Son will focus on attracting high-quality investors, especially renewable energy businesses.

Singaporean Ambassador to Vietnam Jaya Ratnam said VSIP Lang Son can play a key role in attracting high-quality investments from Singapore to Vietnam, particularly in sectors of infrastructure, logistics and supply chain service, farm produce processing. He also stated that (VSIPs) are a symbol of bilateral relations between Singapore and Vietnam.

Source: Redsunland

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Vietnam – Quangxi trade cooperation

According to Ms. Yang Yanyan, Secretary-General of CABIS and President of CCPIT Guangxi, Vietnam has always been Guangxi’s largest trading partner. As Vietnam and China relax their pandemic prevention measures, economic and trade cooperation between Guangxi – Vietnam cooperation is expected to become even closer, with trade volumes increasing further, providing better cooperation opportunities for businesses in the two countries.

According to Nanning Customs, in 2023, Guangxi’s import-export turnover with Vietnam reached 253.95 billion RMB (approximately 36.3 billion USD), an increase of 29.2%. Of this, Guangxi’s exports were 191.59 billion RMB (approximately 27.4 billion USD), up 23.1%, while imports from Vietnam were 62.36 billion RMB (approximately 8.9 billion USD), up 52.5%.

Currently, Guangxi enterprises prioritize cooperation in fields such as electronic information, optoelectronics, new energy vehicles, innovative materials, advanced equipment manufacturing, digital economy, green economy, and technological innovation. 

Opportunities for Vietnam – Guangxi Business Cooperation

Ms. Yang stated that innovative and favorable foreign investment policies present an opportunity for Vietnamese enterprises to expand their business cooperation in Guangxi.

VCCI Vice President Nguyen Quang Vinh also noted that in recent years, under the direct guidance and orientation of the high-level leaders of both Vietnam and China, especially following General Secretary Nguyen Phu Trong’s visit to China and General Secretary and President Xi Jinping’s visit to Vietnam, the comprehensive strategic cooperative partnership between Vietnam and China has continued to be strengthened and enhanced. This has contributed to promoting cooperative relations between the business communities of both sides.

Deepening the partnership

The VCCI Vice President Nguyen Quang Vinh assessed that with its geographical advantages, Guangxi province holds substantial potential and opportunities to develop economic and trade cooperation with Vietnamese localities and enterprises in areas where both sides have strengths. This would facilitate the export of Vietnam’s strong products to the Chinese market and, conversely, help Guangxi’s products deeply penetrate the ASEAN market through Vietnam. 

In order to deepen cooperation, Ms. Yang expressed her desire for VCCI to encourage Vietnamese businesses to enhance market surveys and explore cooperation opportunities in Guangxi province. She also invited the Vice President of VCCI and Vietnamese enterprises to attend the China-ASEAN Business and Investment Summit (CABIS) 2024.

Based on the close cooperation, the VCCI Vice President affirmed that VCCI is ready to exchange information and cooperate with CCPIT Guangxi to promote trade relations between the business communities of both sides in areas such as industry, clean technology, high technology, agriculture, and tourism.

Additionally, the VCCI Vice President shared that VCCI is in the process of establishing a representative office in Lao Cai province. Vice President Nguyen Quang Vinh hopes this will enhance cooperation between Guangxi province and several provinces in Northwest Vietnam.

During the meeting, the VCCI Vice President also extended an invitation to the President of CCPIT Guangxi to attend the ASEAN Business and Investment Summit (ASEAN BIS), which will be held in Vientiane, Laos, in the near future. As the Chairman of the ASEAN BAC Vietnam Council, VCCI Vice President Nguyen Quang Vinh emphasized that VCCI/ASEAN BAC Vietnam is always ready to support and cooperate with Guangxi province in particular and China in general to boost the development of business cooperation between China and ASEAN in the future.

On June 3rd, the Department of Planning and Investment held an investment promotion conference with the Fujian Business Association from Guangxi (China).

The Department of Planning and Investment introduces Bac Ninh’s investment environment to businesses from Fujian. The Fujian Business Association in Guangxi Province, established in 2004, now has a total investment capital of approximately 1 trillion yuan. Many businesses in the Association have long-standing manufacturing facilities; ten of them are among the top enterprises in Guangxi Province, and one is among the top 100 outstanding enterprises in China.

During this visit to Vietnam, the Association aims to survey and explore the market in various industries, seeking long-term investment and cooperation opportunities with Vietnamese businesses in general and Bac Ninh Province in particular.

Currently, this province has 656 investment projects from China, with many successful investors such as Foxconn and Goertek, making significant contributions to the economic and social development and welfare of Bac Ninh Province. Bac Ninh has been designated by the Ministry of Industry and Trade as one of the first localities to connect and organize investment promotion with the Fujian Business Association in Guangxi, China. This is an opportunity for both sides to exchange and seek cooperation opportunities in the fields of building materials manufacturing, electronic products, and importing agricultural products from Vietnam. Additionally, Fujian enterprises wish to survey the province’s industrial parks.

A representative from the Department of Planning and Investment provided an overview of Bac Ninh’s industrial development potential and investment attraction orientation, committing that Bac Ninh is always ready with clean land, human resources, administrative procedure reforms, and the most favorable conditions to support investors in the province.

Representatives from various functional departments directly exchanged and clarified many issues of interest to businesses in the Fujian Business Association, related to human resources, artificial intelligence, solar energy batteries, and the province’s policies on investment support, environment, taxation, logistics, and more.

Source: Bao Bac Ninh

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The country licensed 1,227 new FDI projects during the period with a total registered capital of $7.94 billion, surging 27.5% in volume and 50.8% in value compared to the same period last year.

Meanwhile, 440 projects had their capital added, with a total of over $2.08 billion, dropping 9.3% and 8.7% year-on-year, respectively.

Of which, May witnessed the largest amount of added capital by investors compared to previous months of this year with nearly $800 million. 

Foreign investors also injected more than $1.05 billion into 1,158 capital contribution and share purchase deals during the period, down 68.2% and 9.4% year-on-year, respectively.

The disbursement of FDI capital soared 7.8% year-on-year to some $8.25 billion during the five-month period.

Foreign firms invested in 47 out of the total 63 centrally-run cities and provinces of Vietnam during the five-month period.

Southern Ba Ria-Vung Tau province led the country, in terms of registered capital, with over $1.52 billion, accounting for 13.8% of the total. It was followed by Hanoi with nearly $1.14 billion and northern Bac Ninh province with over $1.06 billion. Most of the FDI ran to localities with sound infrastructure, stable human resources, concerted efforts in administrative procedure reform, and active investment promotion work like Ba Ria – Vung Tau, Hanoi, Bac Ninh, HCM City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen, according to the FIA.

Among the 78 countries and territories having investment in Vietnam in the first five months, Singapore was the largest since it landed nearly $3.25 billion in the country, making up 29.3% of the total and growing 28.2% year-on-year.

Foreign firms invested in 17 out of the 21 economic sectors, with the processing and manufacturing industry taking the lead, with over $7.42 billion, or 67.1% of the total and up 11.9% year-on-year. It was followed by the real estate industry with $1.98 billion, wholesale and retail sales with $514.2 million, and transport and warehousing with $342.2 million.

Source: VnEconomy

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Regional Planning for North Central and Central Coastal Areas

According to Regional Planning for North Central and Central Coastal Areas (for the eriod 2021 – 2030 and with a vision to 2050), Central Vietnam will be focusing on developing economic zones and industrial zones sustainably and efficiently to ensure that they are environmentally friendly, and aligned with the economic restructuring of the region and each locality. Technological innovation is also the center of the planning to improve quality and efficiency, as well as to meet environmental standards in operating economic and industrial zones.

Coastal economic zones: 

Coastal economic zones will be developed with core and leading functions, which are suitable with the socio-economic development requirements of localities, and ensure close alignment with regional development goals. Furthermore, high value-added marine economic sectors such as marine tourism, maritime economy, oil and gas exploration, offshore fishing and aquaculture, coastal industries, and renewable energy will be encouraged.

The planning orientation includes continued research and development of coastal economic zones in potential areas such as Ninh Thuan and Binh Thuan when all relevant regulations are met. 

Border gate economic zones:

Border gate economic zones will be developed with the focus on commercial, service, export processing, and industrial zones, aiming to form economic and urban centers in the western areas of localities within the region.

Specialized industrial zones: 

Specialized industrial zones and industrial complexes will be developed on a reasonable scale. Industrial zones will be developed following models of high-tech industrial zones, eco-industrial zones, specialized industrial zones, supporting industrial zones, and industrial-urban-service complexes.

Priority will be given to the establishment of new industrial spaces and the expansion of industrial development areas towards the western side of the North-South Expressway.

Development Orientation for Central Coastal Economic Zones

Several provincial plans for the 2021-2030 period have been approved by the Prime Minister, focusing on the development and investment attraction for 11 marine and coastal economic zones in the North Central and Central Coastal regions.

The 11 economic zones include: Nghi Son (Thanh Hoa province), Dong Nam Nghe An (Nghe An province), Vung Ang (Ha Tinh province), Hon La (Quang Binh province), Dong Nam Quang Tri (Quang Tri province), Chan May – Lang Co (Thua Thien Hue province), Chu Lai (Quang Nam province), Dung Quat (Quang Ngai province), Nhon Hoi (Binh Dinh province), Nam Phu Yen (Phu Yen province), and Van Phong (Khanh Hoa province).

Especially, economic zones that play a crucial and dynamic role in the socio-economic development of the region will be focused which include: Nghi Son Economic Zone (Thanh Hoa), Vung Ang Economic Zone (Ha Tinh), Dung Quat Economic Zone (Quang Ngai), and Nhon Hoi Economic Zone (Binh Dinh).

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