In the coming time, if Vietnam does not have right management solutions, Vietnam will not be able to collect taxes of FDI (Foreign Direct Investment) enterprises because the transfer pricing will be much more serious, according to senior economist Le Dang Doanh.
The foreign-invested sector’s trade surplus hit US$17.63 billion while Vietnam’s domestic enterprises posted a trade deficit of US$16.40 billion in the first 10 months of this year.
Vietnam has attracted US$28.24 billion in foreign direct investment (FDI), a 37-per cent year-on-year increase in the first 10 months of this year, according to statistics just released by the Foreign Investment Agency, which is under the Ministry of Planning and Investment.
There are over 4,000 FDI (Foreign Direct Investment) enterprises in Hanoi, of which only 966 enterprises made profit.
According to a quarterly report just launched by the leading US real estate consultancy firm CBRE, in the first eight months of 2017, Vietnam received a total of US$23.4 billion from 1,624 newly licensed projects which witnessed an increase of capital and activation of stakeholders’ purchase, a 45.1 per cent year-on-year increase.
Outdated technology from China is coming to developing countries and Vietnam is believed to be an opportunity market, especially in the field of textile investment.
On the afternoon of September 28, Deputy Prime Minister Vuong Dinh Hue chaired a meeting of the National Financial and Monetary Policy Advisory Council on assessing the macroeconomic indicators in the third quarter and the first 9 months of 2017.
From the beginning of 2017 to September 20, US$12.5 billion of foreign direct investment (FDI) projects was disbursed. This amount increases by 13.4% over the same period in 2016.
According to Phan Huu Thang, former head of the Foreign Investment Agency, Vietnam is facing new advantages and challenges that require certain adjustments in governance of attracting and using FDI for develop economy in a sustainable way.
Formosa, a giant steel project in Ha Tinh central province causing the worst water pollution ever in Vietnam, is a failure of the country in attracting foreign investors, forcing it to draw lessons to change for more successes in the future.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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