Vietnam will remain at the centre of Asian supply chains and one of the most competitive manufacturing locations in the Asia-Pacific region, said analysts at the Economist Intelligence Unit in a report on the country released on January 13. EIU Senior Analyst John Marrett said tax and foreign direct investment policies as well as measures to control foreign trade and exchange are the main strengths of the Vietnamese business climate compared to other countries in the region.
Construction of a wind power project started in Nguyen Huan commune, Dam Doi district, the southern province of Ca Mau on January 16. Invested by the WTO Construction Trading Joint Stock Corporation, the project’s first phase has total investment capital of over 10 trillion VND (over 432 million USD), with four wind power plants 1A, 1B, 1C and 1D to be built in coastal communes of Tan Tien and Nguyen Huan in Dam Doi district, and Tam Giang Dong commune of Nam Can district.
The Directorate of Fisheries is implementing software and piloting the electronic traceability for seafood products to meet State management and market requirements. The agency is developing electronic traceability software and will pilot it in a number of localities such as Vung Tau, Khanh Hoa, Binh Dinh and Phu Yen. The traceability software is expected to apply to fishing activities nationwide over the next three years, the Nong thon Ngay nay (Countryside Today) newspaper reported. The electronic fishing dairy and the traceability software will improve the accuracy and convenience in completing information about traceability for seafood products and managing that information, Hung said.
The southern province of Dong Nai secured 11 foreign direct investment (FDI) projects worth more than 226 million USD in the first half of January, the highest recorded in the same time in the past five years, according to the provincial management board of industrial parks. Large projects included Hansol Electronics (100 million USD) in Ho Nai Industrial Park and Ojitex plant (60 million USD) in Loc An – Binh Son Industrial Park, said deputy head of the board Pham Van Cuong, adding that the investors committed to disbursing capital, building plants and purchasing machinery in Quarter 1, and putting the projects into operation by the end of 2021.
The Mekong Delta city of Can Tho will pay due regard to the development of large-scale industrial parks (IPs) to attract investment from major corporations. Can Tho has already submitted plans for a 500-ha IP in O Mon district and another on 900 ha in Vinh Thanh district. The city is also eyeing the development of two IPs covering an area of 500 ha each in Thoi Lai district, which may be built alongside residential areas, shopping malls, and universities. Its industrial and construction sector expanded 1.69 percent in 2020. It is reported that only two of six IPs in the city has seen full occupancy rates.
Vietnamese experts again issue a warning to local enterprises to pay attention to intellectual property (IP) rights when doing business overseas.