Prime Minister Pham Minh Chinh visited workers who are on duty in Hanoi during the Lunar New Year (Photo: Lao Dong Thu Do)

PM visits workers on duty during Tet holiday

Prime Minister Pham Minh Chinh visited workers who are on duty in Hanoi during the Lunar New Year (Tet) holiday on February 12, or the third day of the first lunar month. Visiting the construction site of Station S12 under the Nhon-Hanoi Station metro line project, he praised laborers for working throughout Tet.

He asked units to not only arrange vehicles and workforce but also research and apply technology to speed up construction on the project, which has been delayed for a long time. After 13 years of construction, with many adjustments, the Nhon - Hanoi Station metro line project is currently about 78% complete. The Government and Hanoi city will continue to analyze causes for the slow progress to find solutions to them and create the best conditions to promote the implementation, affirmed Chinh.

Paying a Tet visit to workers of the Hanoi Urban Environment Company (URENCO) who were cleaning Dien Bien Phu and Hoang Dieu streets, the Government leader thanked them for working on holiday for a green, clean, and safe capital city. Extending his best new year wishes to employees of the Yen Phu Water Plant, he hailed their efforts to ensure water supply during the week-long holiday. He requested the Hanoi Water Limited Company to ensure water security to well serve the capital city’s residents, and reduce the rate of clean water loss.

Vietnam's FDI forecast to remain strong through 2024

The year 2024 continues to look good for Vietnam’s foreign investment attraction, as right from the beginning of this year, the country has attracted a host of projects. According to the Foreign Investment Agency under the Ministry of Planning and Investment, Vietnam had attracted more than 2.36 billion USD in foreign direct investment (FDI) as of January 20, an increase of 40.2% over the same period in 2023.

As many as 190 new projects were granted investment registration certificates, a year-on-year rise of 24.2%, with a total registered capital of more than 2 billion USD, 66.9% higher than that of the same period last year. In addition, 75 projects registered to adjust investment capital with more than 235.4 million USD added, down 15.7% and 23.1% respectively. The month also saw foreign investors contribute more than 116.5 million USD to make 174 share purchases, down 14.7% and 33.1% respectively over the same period last year.

Specifically, on January 13, authorities of the central province of Nghe An granted investment licenses to five foreign-invested projects, with a total capital of 390 million USD. Notably among them were a 120-million-USD project of Taiwan (China)’s Radiant Opto-Electronics Corporation and a 115-million-USD project of Hong Kong (China)’s Everwin Precision. In late October 2023, Everwin Precision also began work on a 200 million USD project at the Vietnam-Singapore Industrial Park (VSIP) in the central locality.

Photo: SaigonTimes

Earlier, the northern province of Hai Duong handed over investment certificates to 27 projects, with a total capital of more than 1.5 billion USD. Besides several domestic projects, there are large-scale FDI projects, such as a 270-million-USD stationery factory invested by Deli Vietnam Office Technology Co., Ltd. There was also a project worth 260 million USD by Biel Crystal Vietnam Manufacturing Limited, and a Boviet Hai Duong solar photovoltaic cell factory worth 120 million USD.

Among nine projects granted investment certificates in early January in the southern province of Dong Nai, there were four foreign-invested, totaling 156.4 million USD. Meanwhile, 217 million USD were added to four existing FDI projects.

Speaking at a recent Government meeting with localities, Deputy Prime Minister Le Minh Khai stressed that Vietnam remains an attractive destination to foreign investors, given the fact that up to 36.6 billion USD was registered, and 23.2 billion USD was disbursed last year. These are the highest-ever figures.

Michael Kokalari, Director of VinaCapital's Macroeconomic Analysis and Market Research Department, assessed that Vietnam's attraction of foreign investment in 2024 will continue to be very positive. He shared that his firm has received a lot of information about Japanese groups looking for opportunities to cooperate with domestic units, such as VinaCapital, to pour capital into Vietnam's real estate sector. Other fields that promise to attract large capital flows may be manufacturing and retail, he said.

Speaking at an event to release the Business Confidence Index (BCI) by the European Chamber of Commerce (EuroCham) in Vietnam, its Chairman Gabor Fluit said that 31% of EuroCham members now rank Vietnam among their top three global investment destinations. He stressed the need for the country to improve problems related to administrative burden and ineffectiveness of the apparatus.

Experts stressed the need for Vietnam to early research and issue mechanisms to better support investors in the context of the global minimum tax rate.

Hoang Van Cuong, member of the National Assembly's Finance and Budget Committee, said that it is important to not only attract investors but also "accompany them". "To do that, we need strong institutional reforms, creating a legal environment and creating opportunities, not just dismantling difficulties," he said.

At the "Spring of Love" event (Photo: VNA)

The Vietnamese community in Belgium celebrates Tet festival

An event called “Spring of Love” was organized by the General Union of Vietnamese in Brussels (UGVB) on February 11 (the second day of the first lunar month) on the occasion of the arrival of the Year of the Dragon, offering an opportunity for overseas Vietnamese in the country to get together and honor their common root.

President of the UGVB Huynh Cong My spotlighted the significance of the Lunar New Year (Tet) festival with the OVs and affirmed the union’s role in connecting the OVs with the homeland’s culture.

Conveying Tet wishes to the Vietnamese community, Ambassador Nguyen Van Thao laid stress on the sound ties between Vietnam and Belgium and expressed his hope for the future development of the relations with the upcoming visit by the Belgian King and Queen to Vietnam in October.

The cultural center of the Woluwe Saint-Pierre district of Brussels was turned into a warm Tet space and was a favorite check-in point of visitors to the event. It featured a calligraphy corner where Jean-Sébastien Gill – a French national who is a fan of the art of calligraphy – wrote New Year wishes for the OVs and a charity corner where handicrafts were sold to raise money for children in difficult circumstances in Vietnam.

Additionally, visitors also have a chance to enjoy art performances staged by Vietnamese artists in Europe.

Ho Chi Minh City sees increases in tourist arrivals, and revenue during the Tet holiday

Ho Chi Minh City welcomed around 75,000 foreign tourist arrivals over five days from the start of the Tet holiday (February 8) to February 12, or the third day of the first lunar month, up 15.4% year-on-year, according to the municipal Department of Tourism.

During the Tet holiday that will last until February 14, the city is expected to serve 1.8 million visitors, a year-on-year rise of 5.9%. Revenue is estimated at 6.55 trillion VND (268.1 million USD), up 4% year-on-year. The increases were attributed to the city’s organization of activities to welcome the Lunar New Year of the Dragon and its efforts to improve the quality of tourism products.

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