PCS launches investment promotion web portal

17-Apr-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

The Investment Promotion Centre-South Vietnam (IPCS), under the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), rolled out its investment promotion web portal on https://ipcs.mpi.gov.vn/ this morning, April 15, in HCM City, which will function as an investment data centre to serve 21 southern provinces and cities.

The web portal will feature a source of Vietnam’s latest laws and investment regulations, investment procedures and the environment in southern localities, especially in Vietnam, investment portfolios by phase as well as investment promotion activities held by IPCS in coordination with organisations, units at home and abroad. Also, enterprises and investors can send their queries about investment issues on the platform.

With various articles available in Vietnamese and English, the web portal will not only introduce investment opportunities to local investors but international ones as well. With the Covid-19 pandemic gradually being brought under control and the inflow of foreign direct investment (FDI) into Vietnam forecast to surge, the launch of the web portal is timely and appropriate and is expected to bring about benefits for fresh investors in Vietnam.

Addressing the event, Tran Thi Hai Yen, director of IPCS, said, “We have made significant efforts, driven innovations and embraced challenges to enhance promotion investment activities as requested by the ministry. The promotion investment portal of the IPCS will truly be an e-library with the latest updated investment information.”

Although the public health crisis has upended all aspects of socio-economic life since 2020, the FDI inflow into Vietnam still remained upbeat. The country last year saw total registered capital for FDI projects reaching $28.53 billion. As of the first quarter of this year, the country attracted over $10 billion in FDI capital, up 18.5 percent year-on-year, with FDI projects in the southern localities accounting for 52 percent of the total value. The positive results were partly buoyed by an increase in online promotion investment activities over the past time, Yen said.

Currently, many businesses have shared their information on the IPCS portal to carry out or support investment activities, including Singapore’s United Overseas Bank in Vietnam (UOB Vietnam). The bank has actively promoted foreign investment in Vietnam for nearly three decades and will join hands with IPCS to organise multiple workshops for investors in the upcoming period.

Speaking at the event, Harry Loh, CEO of UOB Vietnam, said, “Since our Memorandum of Understanding with FIA was first signed in 2015, we have helped facilitate the market entry of clients from across UOB’s comprehensive regional network, resulting in investment flows of over $2.35 billion from more than 150 companies being channelled into Vietnam. This effort has contributed to Vietnam’s economic growth and also helped in creating some 17,000 jobs. As a key partner of IPCS, UOB will provide useful insights including market outlooks and sector updates, and information on how we can help potential investors with their market entry strategies.”

The bank expected to continue broadening its cooperation with FIA and IPCS and facilitating more FDIs into Vietnam, the UOB Vietnam leader said.



Category: Business, Vietnam

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