Three foreign groups plan to pour $3.7B into Vietnam

Three foreign groups plan to pour $3.7B into Vietnam

🎯 Three foreign groups unveiled plans to pour $3.7 billion into Vietnam at a meeting with Prime Minister Pham Minh Chinh in Hanoi Saturday, according to the Ministry of Planning and Investment:

1️⃣🇰🇷 A group from South Korea is to invest $1.6 billion in heavy industry and logistics production;

2️⃣🇩🇪 a German investor is eyeing green production using renewable energy with an estimated capital of $1.5 billion;

3️⃣🇯🇵 a Japanese investor plans to spend $600 million on medical equipment production.

🚦To welcome the investment wave, Minister of Planning and Investment Nguyen Chi Dung said, Vietnam needs to prepare the necessary conditions, including “packages” of preferential policies and support in the context of the global minimum tax to be applied in 2024, improve the competitiveness of the investment environment and harmonize the interests of investors.

🍾 In the long term, Vietnam will continue to remove bottlenecks in mobilizing resources and production and trade. It will step up the disbursement of capital, and consolidate trust with the motto “Placing the people and businesses at the center, the subject, the goal and the driving force of development,” he said.

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