2023-02-14

Vietnam

Business: Ho Chi Minh City is poised for a new wave of foreign investment

Ho Chi Minh City (VNA): As an economic locomotive, Ho Chi Minh City has always been at the forefront of the country in attracting investment and attracting the attention of foreign investors from all over the world.

Among the newly approved projects, 100 820% foreign-funded projects were newly approved, 71 joint venture projects and 2 business cooperation projects were approved.

Economic experts say that the city has several advantages in terms of economic development, especially high-quality human resources, as well as relatively developed infrastructure, which can attract investment in high-tech service industries.

Strategically located, it is the largest high-tech manufacturing and service center in the country, and it is also a multicultural city suitable for foreigners to work, live and travel.

The city will restructure its economic sectors, focusing on attracting foreign direct investment in key sectors. Relying on high-tech industries and digital economy, automation, artificial intelligence, software, microchips and other industries, we will promote the investment attraction of high value-added industries.

Politics: Vietnam presents Cuba with gifts from the presidency of the Group of 77 and China

Vietnam News Agency: The Permanent Mission of Vietnam to the United Nations met with the Permanent Mission of Cuba in New York and presented a gift to Vietnamese Foreign Minister Bui Thanh Son on Cuba's chairmanship of the Group of 77 and China.

Established in 77 with 1964 members, including developing countries, the G134 aims to promote collective economic interests and strengthen the capacity of Member States to address economic and sustainable development issues within the framework of the United Nations and South-South cooperation.

Vietnam is one of the 77 founding members of the group.

Lao

Business: Laos welcomes Chinese entrepreneurs to explore business opportunities

China and Laos live next to each other, are friendly from generation to generation, and have strong economic and trade complementarity. Recently, the Lao government and the Lao National Chamber of Commerce and Industry said that they welcome Chinese entrepreneurs to organize groups to investigate business opportunities.

Lao Ambassador to China Kampao Ntavan Bashar previously said that the atmosphere of Laos-China economic cooperation is lively and fruitful, and the two countries have many cooperation projects. The Lao Embassy in China will, as always, act as a bridge to promote the economic and trade development of Laos and China, and will facilitate and support more Chinese enterprises to visit Laos.

Lao Deputy Minister of Industry and Trade Manodhong Ongsai said: The Lao government has been implementing policies to attract foreign direct investment and promote trade, such as supporting the construction of special economic zones, industrial parks, logistics parks, etc. Since 2003, the Lao government has established 12 special economic zones across the country, with various incentives to encourage investment, such as tax reductions, extension of land concessions, tax exemptions for imported raw materials, and reduction in the cost of water and electricity supply.

China is Laos' largest source of investment and its second largest trading partner.

Brunei

Business: Chinese companies have become the main force of outbound investment in Brunei

Brunei, a member of ASEAN, has a land area of 5765,43 square kilometers and a population of 2021,<> (<>). Brunei has a stable political situation and a safe country. Brunei's economy is based on the oil and gas industry, and the non-oil and gas industries mainly include manufacturing, construction, finance, agriculture, forestry and fishery. China and Brunei have had close exchanges since ancient times, and the ancient Maritime Silk Road was the main trade route between the two sides. The two countries have strong economic and trade complementarity. The construction of the China-ASEAN Free Trade Area, the joint construction of the "Belt and Road" and the establishment of the strategic cooperative partnership between the two countries have created new development opportunities for Chinese economic cooperation. In recent years, Chinese relations have developed rapidly, political mutual trust has been deepened, and economic and trade cooperation has been full of bright spots.

Among Brunei's foreign investors, Chinese companies are the main force. In recent years, among Brunei's foreign investors, Chinese enterprises have invested in petrochemical, financial, infrastructure construction, telecommunications, manufacturing and other fields, and these investments have become an important driving force for Brunei's economic development. At present, the Brunei government is implementing the "Vision 2035" to promote economic diversification, create a more friendly and convenient business environment, and enhance investor confidence. We look forward to working with China to promote the high-quality development of the Belt and Road, expand regional and sub-regional cooperation, strengthen connectivity and create bright development prospects.