Total registered capital of new foreign-invested projects and additional capital in existing ones in Hanoi amounted to 519.2 million USD in the first five months of this year, according to the Statistics Department of Hanoi.
The foreign direct investment (FDI) sector continues to be an important economic driver, contributing to making Vietnam more prosperous, Deputy Prime Minister Pham Binh Minh said.
Prof. Tran Van Tho, a former lecturer at Japan’s Waseda University suggested several measures for Vietnam to achieve sustainable economic development in the next period in an interview recently granted to a Vietnam News Agency reporter in Tokyo.
Industry was the fastest growing sector and the largest contributor to Vietnam’s export revenue over the last decade, making up roughly 30 percent of the annual GDP, Minister of Industry and Trade Tran Tuan Anh told the on-going 13th National Party Congress on January 28 morning.
Deeper integration into the global value chain while developing an increasingly independent and self-controlled economy are both a requirement and a solution to help Vietnam overcome the challenges to realise its goal of rapid and sustainable development, according to Party Central Committee and Minister of Industry and Trade Tran Tuan Anh.
With a thriving economy, stable political system, and a rich culture, Vietnam has been a secure home for not only Vietnamese but also many international friends.
The Regional Comprehensive Economic Partnership (known as the RCEP), which was signed on November 15, is the largest free trade agreement in the world. While offering substantial opportunities to Vietnamese exporters, it will also make the competitive landscape even fiercer, both at home and abroad.