Investment

Construction of the 20-km, VND2 trillion ($84.35 million) Cho Moi - Bac Kan road will begin next year and be completed in 2025, to address bottlenecks in transport infrastructure in Vietnam’s northern mountainous area, according to the Ministry of Transport. A number of investors have said that Bac Kan province holds advantages in forestry, mineral resources, and tourism, especially Ba Be Lake, but its inconvenient traffic network makes them hesitant.

With disbursement of public investment capital having reached only 39.15 per cent of the plan assigned by the Prime Minister in the first eight months of the year, Deputy Prime Minister Le Minh Khai has signed Resolution No. 124/NQ-CP dated September 15 on key tasks and solutions to boost disbursement over the closing months of 2022.

Hanoi approved the “Building a digital platform for innovation investment” project on September 15, which aims to attract 300 venture capitalists and 1,500 innovative startups from Southeast Asia by 2025 to participate in the Youth Innovation Investment Digitization Platform. It will also support at least 200 Vietnamese startups during the period, connect 500 investments worth $1 billion for regional startups, and offer loans of VND1 trillion ($42.2 million) for young people to get a business underway.

Analysts and business leaders at the recent “Supply chain shift - Opportunities for Vietnamese businesses” workshop said the strong shift in global supply chains has caused many multinational corporations to boost their investment in Vietnam, creating many major opportunities but also challenges for local enterprises.

The Swiss Government will continue to support three industrial parks in Ho Chi Minh City, northern Hai Phong city, and southern Dong Nai province converting into eco-industrial parks in the 2020-2023 period under an international framework to replicate the model around the country. According to the Ministry of Planning and Investment, by 2030, 40-50 per cent of localities will convert existing industrial parks into eco-industrial parks.

According to the Ministry of Transport, the Public Investment Plan for the 2021-2025 period has nearly VND15 trillion ($635 million) for implementing transport infrastructure projects in north-central Thanh Hoa province.