Investment

Hanoi held a breaking ground ceremony on October 6 for a tunnel at the intersection of Ring Road No. 2.5 and Giai Phong Street in Hoang Mai district. With a length of 400 meters and total investment of nearly VND800 billion ($33.5 million), the tunnel is a key project for the city in the 2021-2025 period and will contribute to the completion of the capital’s transport infrastructure.

Deputy Prime Minister Le Minh Khai has signed Directive No. 17/CT-TTg dated October 5, 2022 from the Prime Minister on accelerating the allocation and completion of investment procedures for projects in the medium-term public investment plan for the 2021-2025 period. He has called for investment to focus on key industries and sectors and growth poles to improve the efficiency of public investment capital. Leaders from ministries, branches, and localities must direct and inspect projects in accordance with approved planning.

Central Quang Nam province is speeding up a project to form a center for the pharmaceutical industry. The project focuses on building mechanisms and policies to encourage businesses and individuals to participate in the cultivation and processing of medicinal plants. Quang Nam is currently implementing many preferential mechanisms and policies to attract businesses to invest in the development of the pharmaceutical industry in general and of Ngoc Linh ginseng in particular.

Macro-economic fluctuations have slowed Vietnam’s real estate market but investment flows are still going to the Mekong Delta thanks to public investment policies and improved transport infrastructure. The Delta is the largest producer and exporter of food, seafood, and fruit in Vietnam.

The Da Nang Department of Natural Resources and Environment is holding consultations on an environmental impact assessment for an eco-villa project to the west of the bypass south of Hai Van Tunnel and another similar project in Hoa Nhon commune in the central coastal city’s Hoa Vang district. The total land area for the two projects is nearly 200 ha and total capital more than VND2 trillion ($83 million).

At a CEO Forum on welcoming the wave of supply chain shifts in the electronics industry, held on October 4, analysts said Vietnam is a destination for many companies producing electrical and electronic products. Its electronics industry is one of the most promising in terms of receiving a new wave of relocated investment.