Can Vietnam Become a New Production Center of The World?

 Vietnam now is a machining and production center, just behind Singapore on the total investment amount of China.

China is following the model of the Japanese economy and then has higher production costs. Therefore, Chinese enterprises are now diverting into neighboring countries to find the location for new manufacturing facilities.

With great potential for growth, young population structure and lower wage costs, Vietnam will benefit from the development of infrastructure associated with competition for positions in regional influence between China and other major economies.

This is an opportunity for Vietnam to improve its position in the value chain by becoming a global center of production of low-value commodities.

To enhance accessing to investment capitals, becoming a center of manufacturing, global outsourcing and enhancing the position in the value chain, in the long term, Vietnam will actively screening the list of projects FDI under the strategy and development-oriented by the Government.

Vietnam needs to invest in education and training to develop workforce skills. In addition, Vietnam also needs to focus more on investment in environmental infrastructure, especially in transportation and services.

Along with the continuous integration in ASEAN and by the importance of this region for the 4 largest economies in the world, Vietnam has many advantages to attract multinational companies to invest in order to take use existing opportunities of Southeast Asia area.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Read more: http://www.antconsult.vn/news/industry/manufacturing/can-vietnam-become-a-new-production-center-of-the-world.html#ixzz7i7ykiCMa

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Quang Ninh Tourism Industry Collect Nearly 29,500 Billion VND in 2019 | ANT Consulting

2019 continues to be evaluated as a year of strong growth of the Quang Ninh tourism industry in both the number of tourists and revenue, contributing to the provincial budget up to 30% compared to 2018, creating an attraction for foreign investors to come and set up company in Quang Ninh. 

According to the Quang Ninh Department of Tourism, in 2019, the total tourist arrivals to Quang Ninh reached over 14 million, an increase of 14% compared to 2018, of which international visitors reached 5.7 million. The length of stay has changed significantly from 2.16 days in 2017 to 2.74 days in 2019. 

In 2020, Quang Ninh tourism industry strives to welcome 15.5 million visitors, including 6.5 million international visitors; total revenue is more than 34,000 billion VND; The total contribution to the provincial domestic budget is not less than 11.5%. The length of stay of tourists must increase and reach from 2.8 to 2.85 days and the average spending will be 2.3 million VND/tourist. 

To accomplish this goal, the Department determined to further promote the promotion of tourism into key domestic and foreign markets, strengthen the state management of the business environment, tourism, travel management, tourist accommodation establishments, shopping establishments. Develop and put into operation strong tourism products, expand tourism space to increase attractiveness and extend the length of stay… 

According to the Quang Ninh Department of Tourism, in order to achieve the above results, in 2019, apart from continuing to focus on promoting through Roadshow programs to effectively exploit traditional markets such as China; Northeast Asia (Korea, Japan, Taiwan); ASEAN visitors (Singapore, Malaysia, Thailand…), Quang Ninh tourism industry has focused on promoting the development of large potential and high-paying tourist markets such as tourists traveling by ship, European visitors (England, France, Spain…). 

For the domestic market, focusing on promoting and exploiting domestic tourists from southern provinces to Quang Ninh via Van Don international airport. Collaborate with organizations, businesses, media agencies at home and abroad to organize Famtrip delegations, presstrips to localities and tourist destinations to enhance the effectiveness of advertisement. 

Closing Ceremony of National Tourism Year 2018 – Ha Long – Quang Ninh, ASEAN Tourism Forum 2019 (ATF 2019), North East Asia Tourism Forum Permanent Meeting (EATOP) towards the EATOP General Assembly in 2020 are major events of Quang Ninh tourism industry in particular and of Quang Ninh province in general, contributing strongly to Quang Ninh – Ha Long tourism brand. 

In 2020, many new tourism products of Quang Ninh such as Quang Hanh Cam Pha Onsen Resort; tourist service complex in Van Don; tourist destinations in Binh Lieu, Tien Yen… will soon be put into operation together with a series of new transport infrastructure projects. These will be important prerequisites for Quang Ninh Tourism to increase its attractiveness and create breakthroughs.

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Tam Thang Industrial Zone offers a new investment destination in Quang Nam | ANT Consulting

Tam Thang Industrial Zone (IZ), one of the 05 Industrial Zones of Chu Lai Open Economic Zones, is located in Tam Ky City of Quang Nam Province, with an area of ​​197.1 ha. This IZ is considered the top investment attraction of the province for foreign investor to set up companies and manufacturing facilities in Vietnam. 

Tam Thang Industrial Zone is the place which attract domestic and foreign investment of Quang Nam province. With the plan of site clearance, compensation and infrastructure construction quickly, this place is highly appreciated by many investors when investing in Vietnam. Especially, this is the first industrial zone in Vietnam with a secondary investor to build a wastewater treatment and a water recycling plant. In particular, this is the first industrial park in Vietnam to have a factory to reuse wastewater. This explains why Tam Thang Industrial Park has a special attraction to many investors, especially investors from Korea and more recently investors from Europe. With the purpose of developing the industrial park in the direction of green-clean-beauty, the investor has implemented many environmental protection policies besides attracting investment here. 

Til end of 2019, Tam Thang Industrial Zone has attracted 23 investment projects. Accounted for the majority of FDI with 18 projects, a total registered capital of about 515 million USD has poured into the implementation of more than 400 million USD. The remainder is domestic projects with a total implemented capital of VND 157 billion /VND 338.6 billion of total registered investment capital. 

This Industrial Zone has housed corporations and national companies with famous brands all over the world participating as Panko (textile), Hyosung (supporting the automobile industry), OCC of Korea, Fashion Garments (Hong Kong), including German “fastidious” investors such as Amann, Wendler … There are currently 16 projects in operation, creating jobs for more than 10,000 workers with the occupancy rate of industrial parks reaching 72%. 

With many of its development efforts, along with supporting businesses, approaching investors, reforming administrative procedures, quickly assisting investors in investing, recruiting workers, solving ground clearance, etc. this will help domestic and foreign investors to easily invest, bringing high economic benefits when investing in Tam Thang Industrial Zone.

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Processing and Manufacturing Industry Attracts Foreign Capital | ANT Consulting

Background Check Service in Vietnam

Although the amount of registered and disbursed FDI capital was lower than the same period in 2019 due to the influence of Covid-19, the reduction has been significantly improved. 

The latest report of the Foreign Investment Department (Ministry of Planning and Investment) shows that, as of November 20th 2020, the total newly registered capital, adjusted and contributed capital to buy shares of foreign investors reached 26.43 billion USD, equaling 83.1% compared to the same period in 2019. The realized capital of foreign direct investment projects was estimated at 17.2 billion USD, equaling 97.6% compared to the same period in 2019. 

Also according to the report, the processing and manufacturing industry is still the field attracting foreign capital, when there are 12.7 billion USD invested in this field, accounting for 48.2% of total registered investment capital. The field of electricity production and distribution ranked second with total investment capital of over 4.9 billion USD, accounting for 18.7% of total registered investment capital. Followed by the real estate business, wholesale and retail with a total registered capital of nearly 3.8 billion USD and 1.5 billion USD. 

In terms of investment partners, Singapore is leading with a total investment of nearly 8.1 billion USD, accounting for 30.6% of total investment in Vietnam; Korea ranked second with a total investment of 3.7 billion USD, accounting for 14% of total investment capital. China ranked third, with a total registered investment capital of 2.4 billion USD, accounting for 9.1% of total investment capital. Followed by Japan, Taiwan, Thailand… 

In terms of the number of new projects, Korea ranked first (573 projects); China ranked second (311 projects); Japan ranked third (251 projects); Hong Kong ranked fourth (164 projects)… 

Commenting on the foreign investment situation, the Foreign Investment Department assessed that, due to the impact of the Covid-19 pandemic, production and business activities were affected, the implemented investment capital of foreign investment projects in 11 months, although decreasing compared to the same period in 2019, but the decrease rate has improved. Many FDI enterprises are gradually recovering, maintaining good production and business activities, creating momentum for faster growth in the last months of 2020. 

Considering the strong decline in global investment due to the effects of the Covid-19 pandemic, this result is better than many other countries, demonstrating Vietnam’s attractiveness in the eyes of international investors. 

The Foreign Investment Department forecasts that there are still many foreign investors who are interested, confident and want to invest in Vietnam. But due to the influence of Covid-19, the movement of investors, as well as new investment decisions and the expansion of the scale of foreign investment projects, continue to be affected.

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