Photo for illustration (Source: nhadautu.vn)
The sharp increase was largely attributed to extra investment from Vietnam injected into overseas projects, the GSO explained. For example, the Indochina Rubber Investment and Development Co., Ltd. added 76 million USD worth of investment to its project in Cambodia; and automaker Vinfast expanded investment in its Germany-based project by 32 million USD, said the Vietnam News Agency.
A total of 424.8 million USD was pumped into 11 existing projects, surging 9.1-fold year on year.
In addition, there were 28 projects receiving licences overseas with total registered capital of 145.3 million USD, plunging 29.6 percent from the same period last year.
The US was the top destination for Vietnamese capital in the period with 302.8 million USD, holding a lion’s share of 53.1 percent.
Cambodia came second with 89.2 million USD, followed by Laos, Canada, France, Germany and the Netherlands.
As of July 20, FDI flows into Vietnam fell by 11.1 percent year on year to 16.72 billion USD, according to the GSO. Some 10.5 billion USD worth of FDI has been disbursed during the period, up 3.8 percent year on year.
Documentary by Vietnamese-American director nominated for 42nd Emmy Awards
“Be Water”, a film directed by Vietnamese-American Bao Nguyen, has been listed among the nominees for the 42nd Annual News & Documentary Emmy Awards.
Vietnamese-American Director Bao Nguyen (Photo: laodong.vn)
This documentary will vie with four others, namely “Be Natural: The Untold Story of Alice Guy-Blaché”, “John Lewis: Good Trouble”, “Feels Good Man”, and “The Last Ice”, the Vietnam News Agency reported.
Part of “30 for 30” - a series of documentary film airing on ESPN, “Be Water” profiles the life of martial arts legend Bruce Lee.
It premiered at the 2020 Sundance Film Festival of the US and then was screened in the Cannes Classics section of the Cannes Film Festival 2020. It has also competed at many other film festivals.
The Emmy Awards are bestowed annually by the US Academy of Television Arts & Sciences.
This year, the News & Documentary Emmy Awards will feature honorees in more than 60 categories and be live-streamed in two ceremonies on September 28 and 29.
India’s pharma group to build Pharma Park in Da Nang
A group of 30 pharmaceutical production companies from India plans to build the first Pharma Park in Vietnam, and Da Nang city’s Hi-tech Park has been suggested as a prime location.
Da Nang City – photo for illustration (Source: vnexpress.net)
The Indian business group, which accounts for a 30 percent share of Indian exports, expects to build a pharmaceutical production centre and fill the shortage of material and medicines supplying Vietnam’s pharmaceutical production chains.
Vice-chairman of the municipal People’s Committee Ho Ky Minh said the city’s 1,184ha hi-tech park infrastructure has been flagged as a potential site for the first Pharma Park in Vietnam.
He said the park would be a magnet for Indian pharma firms and producers as it offers flexible land rent, land clearance, and favourable income tax and import tax policies including land rent exemption for the first three years of operation.
Under the Prime Minister’s decision signed in 2018, investors in traffic, technical infrastructure and public works, or special investment projects will enjoy a land-rent exemption for the entire duration of their investment period in the park.
Investors will be given incentives as they benefit from a 10 percent tax rate for 15 years, a four-year tax exemption and a 50 percent cut in income tax for the following nine years, he said.
He added that projects valued at more than 133 million USD will get a 10 percent tax rate for 30 years, while businesses will have to pay no import tax on materials and equipment that are not available in Vietnam for the first five years of operation.
Minh said the city’s education system with 106 universities, colleges and vocational centres supplies 25,000 students each year, while nearly 10,000 doctors, nurses and medical staff are working at 22 hospitals.
The Indian pharma producers group has its own manufacturing centre in Visakhapatnam, and a series of companies including Hospira healthcare, Hetero pharmaceutical company, Shasun pharmaceuticals, Natco Pharma and Eisai Pharmaceuticals.
Da Nang Hi-tech Park, which was designed as a ‘green’ hub in central Vietnam, offers a number of benefits to manufacturers.
This includes Lien Chieu seaport, Kim Lien railway station and logistics centre, an airport and national highway all within a radius of 20km.
It also smoothly connects with the Chan May Economic Zone in Thua Thien-Hue, the Chu Lai Economic Open Zone in Quang Nam and Dung Quat Economic Zone in Quang Ngai province, Minh said.
The park’s authorities have granted an investment licence to the local Danapha Pharmaceutical Joint Stock Company for developing the first nano-technology and biotech project with an investment capital of 1.5 trillion VND (67 million USD).
Up-to-date, Da Nang has attracted 905 foreign direct investment (FDI) projects worth 3.85 billion USD, with the hi-tech park alone a destination for 24 of those projects with a total of 815 million USD./.