Quang Ninh leads the country in attracting over 3.1 billion USD in FDI.

Báo Lao Động•28/11/2023

24-Hour Economy News: Quang Ninh leads the country in attracting over $3.1 billion in FDI. — Graphics: Khuong Duy

Quang Ninh attracts over $3.1 billion in FDI, continuing to lead the country.

Foreign direct investment (FDI) flowed into 56 provinces and cities nationwide during the first 11 months of 2023. Quang Ninh led in attracting investment capital, with a total registered investment of nearly 3.11 billion USD, accounting for nearly 10.8% of the total registered investment capital, an increase of 42.3% compared to the same period in 2022.

Quang Ninh leads in attracting investment capital during the first 11 months of 2023. Pictured is the Bac Tien Phong Industrial Park (Quang Yen town, Quang Ninh). Photo: Nguyen Hung

Data from the Ministry of Planning and Investment shows that as of November 20, 2023, the total registered capital for new investments, adjustments, and capital contributions through share purchases and equity investments by foreign investors reached nearly US$28.85 billion, an increase of 14.8% compared to the same period last year, and a slight increase of 0.1 percentage point compared to the first 10 months of 2023. Aside from adjusted investment capital decreasing, new investment capital and equity investments continued to increase compared to the same period last year.

Specifically, 2,865 new projects were granted Investment Registration Certificates, an increase of 58.1% compared to the same period last year. Total registered capital reached over US$16.41 billion, an increase of 42.4% compared to the same period last year. There were 1,152 projects that registered adjustments to their investment capital, an increase of 15.9% compared to the same period last year, with a total additional investment capital of over US$6.47 billion (a decrease of 32.1% compared to the same period last year). There were 3,166 foreign-invested capital contribution transactions (a decrease of 4% compared to the same period last year), with a total capital contribution value of nearly US$5.97 billion (an increase of 46.4% compared to the same period last year). See more...

A number of companies are issuing bonds with interest rates as high as 14% per year.

As of November 2023, the total value of corporate bond issuances reached VND 233,000 billion, a decrease of 8% compared to the same period last year. Among these, many companies raised capital through bond issuances with interest rates as high as 14% per year.

Many businesses are raising capital through bonds with yields as high as 14% per year. (Screenshot)

According to the updated corporate bond market report recently released by MB Securities (MBS), as of November 22, 2023, the total value of corporate bond issuance reached VND 233,000 billion, a decrease of 8% compared to the same period last year.

The average corporate bond interest rate in the first 11 months of 2023 reached 8.5%, higher than the average of 7.9% in 2022.

From the beginning of the year until now, the banking sector has the highest issuance value with approximately VND 109,600 billion, a decrease of 18% compared to the same period last year and accounting for 47% of the total value. See more...

Things to note when depositing money at a bank under special supervision.

Many people are discussing on forums whether depositing savings at banks under special supervision is safe. In Vietnam, the State Bank of Vietnam is responsible for coordinating, regulating, and managing the security and safety of the commercial banking system.

Four banks are under special supervision. Photo: Lam Duy.

Mr. Doan Dong has a savings account with a 6-month term deposit at a bank. However, after reading news reports that this bank is under special supervision, Mr. Dong wonders if his money is safe.

Speaking to Lao Dong newspaper about this issue, Dr. Chau Dinh Linh from the Ho Chi Minh City University of Banking shared: Many people are concerned about this issue when depositing money at banks under special supervision or zero-interest banks. This is a legitimate concern of the people.

These banks are under special supervision, meaning they are experiencing problems with liquidity, financial structure, etc.

According to our findings, the four banks under special supervision include three banks that were compulsorily acquired for zero dong (CBBank, OceanBank, and GP Bank) and Dong A Bank.

However, Mr. Dinh Linh stated that banking business relies on brand reputation and the trust of depositors. (See more...)

Tourists spent nearly 800 billion VND on tickets to visit Ha Long Bay in 2023.

While not yet reaching pre-COVID-19 pandemic levels, revenue from ticket sales for Ha Long Bay tours in 2023 was more than double that of the previous year and met the target set by Quang Ninh province.

A group of South Korean tourists visiting Luon Cave on November 22, 2023. Photo: Nguyen Hung

According to the Ha Long Bay Management Board, from the beginning of the year until now, Ha Long Bay has welcomed over 2.4 million visitors, including more than 1.3 million domestic tourists and more than 1.1 million foreign tourists, equivalent to 114% compared to the same period last year. Over 415,000 visitors stayed overnight in the bay, of which more than 341,000 were international tourists.

It is projected that Ha Long Bay will welcome approximately 2.6 million visitors in 2023, including 1.3 million international tourists. See more...

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