Illustrative photo (Photo: VNA) Brussels (VNA) – Vietnamese aquatic products are being introduced at the Seafood Expo Global, the biggest event of its kind in the world, which takes place in Brussels, Belgium, from April 24-26. This is the 20th time Vietnam has taken part in the event. Over the past five years, the Vietnamese corner is one of the ten biggest in the expo. This year’s event brought together more than 1,850 units from 79 countries and territories worldwide. It is expected to draw over 28,000 visitors, including European seafood distributors and processors who come to seek business opportunities. At the opening ceremony, Vietnamese Ambassador to Belgium Vu Anh Quang visited Vietnamese booths, pledging that the Vietnamese Embassy will try its best to facilitate the access of Vietnamese products to the European market. To Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), told the Vietnam News Agency … [Read more...]

Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam’s economic development and opportunities generated by the EU-Vietnam Free Trade Agreement (EVFTA) were discussed at a recent workshop in Poland’s Vacsava capital city. Delegates at the event took note of Vietnam’s positive economic prospects in 2018, especially increasing foreign direct investment (FDI) inflows to the country. Statistics reveal that in 2017 alone, Vietnam attracted 36 billion USD in FDI, the highest amount over the past decade. Regarding the EVFTA, a new-generation FTA between Vietnam and 28 EU members, the delegates said the deal is expected to open up new opportunities for exporters with preferential taxes. The EU is Vietnam’s second biggest importer, with 18 percent of Vietnamese goods shipped to the region. Vietnam runs a trade surplus of 31.8 billion USD with the EU in 2017, with exports to the market growing 12.7 percent. Talking about the illegal, unreported and … [Read more...]

These locations with a wind power capacity of 1.470 MW cover on an area of 35,740 hectares. To date, 19 investors have registered to study and set up projects at the planned locations. Among those, two investors have completed procedures and received investment decision. Chairman of the provincial People’s Committee Tran Van Chuyen said that the provincial authorities always creates favorable conditions for investors and will choose the most competent business to effectively promote projects. An investment promotion conference in Soc Trang will be organized in May. On this occasion, the province will grant investment decisions, investment licenses, and memoranda of understanding on investment cooperation to 47 projects, worth nearly 123 trillion VND (5.4 billion USD). By HAM LUONG – Translated by Kim Khanh Tags: clean energy investors wind power development the Mekong Delta province of Soc Trang … [Read more...]

A garment factory (Photo: VNA) Hanoi (VNA) – The Vietnam Export Promotion Forum 2018 was held in Hanoi on April 24 to seek solutions to boost the export of Vietnamese-branded products in a fast and sustainable manner. Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade (MOIT), said the country’s export markets have been expanded with improved trade balance over the past years. There has been an increase in the overseas shipments of processed and manufactured products, along with a decline in the export of goods groups of natural resources and goods with low added value, he said. In the context of deeper international economic integration, Vietnam has actively negotiated and signed many free trade agreements (FTAs), especially new-generation FTAs with major partners like the Republic of Korea, the European Union (EU), and the Eurasian Economic Union, Phu said. To exist and develop, he said, Vietnamese businesses … [Read more...]

Businesses should bring their new products to rural areas as the consumption in the rural market is equal to that of the urban market, Nielsen Vietnam said in its fast moving consumer goods (FMCG) report (Illustrative photo: VNA)   Hanoi (VNA) – Businesses should bring their new products to rural areas as the consumption in the rural market is equal to that of the urban market, Nielsen Vietnam said in its fast moving consumer goods (FMCG) report. With regards to the FMCG performance in rural and urban areas, the report shows that the growth in rural areas was higher than that in urban regions but it was more fluctuated. Total rural FMCG growth increased 6.1 percent year-on-year while total urban FMCG growth rate rose only 4.0 percent year-on-year. In terms of e-commerce, the report noted that nearly 24 million rural areas are using the Internet, with 22.5 million having facebook accounts, equivalent to the figures of urban regions. According to Nguyen Anh Dung, Executive … [Read more...]

At the working session (Photo: VNA)   HCM City (VNA) – A delegation of leading Swedish firms in mining, finance-banking, hi-tech, construction, transport and logistics is on a visit to Ho Chi Minh City to seek investment opportunities in the southern economic hub. Representatives of Swedish firms expressed their wish to expand cooperation, and open offices in Vietnam, including Ho Chi Minh City, in the coming time, as well as to increase investment and FDI in Ho Chi Minh City during a meeting with Chairman of the municipal People’s Committee Nguyen Thanh Phong on April 24. Head of the delegation Jan Stjernstrom, who is Chairman of the Swedish Chamber of Commerce in Singapore, said his organisation has 300 member firms, adding that many Swedish businesses have cooperated with the Vietnam side, and some of those operating in HCM City – the economic hub of Vietnam. At the working session, Chairman Phong applauded Swedish firms’ active cooperation with HCM … [Read more...]

Illustrative image (Source: VNA)   Hanoi (VNA) – Foreign-invested enterprises disbursed 3.88 billion USD in the first quarter this year, up 7.2 percent annually, according to the Ministry of Industry and Trade’s Foreign Investment Agency (FIA). The country attracted 618 newly-licensed projects with registered capital of 2.12 billion USD, up 25.4 percent in volume, proving that Vietnam remains attractive to foreign investors. Among 76 countries and territories investing in Vietnam in the first quarter, the Republic of Korea took the lead with 1.84 billion USD, accounting for 31.6 percent of the total. Hong Kong (China) ranked second with a registered capital of roughly 689 million USD, equivalent to 11.9 percent while Singapore poured 649 million USD, or 11.2 percent, coming third. FDI firms invested in 19 out of 21 sectors, mostly in manufacturing and processing with 188.52 billion USD (58.5 percent). It was followed by real estate with 53.56 billion USD (16.6 … [Read more...]

Steel to join Vietnam’s major export lines (Source: VNA) Hanoi (VNA) – Steel will be included in the country’s key export items besides fruits, garment and textile, footwear and seafood products, an official from the Ministry of Industry and Trade has said. “Like fruits, steel is a commodity which has made a strong export growth in recent time,” Tran Thanh Hai, Vice Head of the Import-Export Department of the ministry said. Export turnover of steel in 2017 reached 3.15 billion USD, an increase of 55.4 percent over 2016, mainly steel products, steel billets, and construction steel and steel pipes. “The steel industry will grow by 20-22 percent in 2018,” Vice President of the Vietnam Steel Association Nguyen Van Sau said at a conference in Hanoi on April 24 on promoting Vietnam’s exports in 2018. He forecasted that construction steel will grow by 10 percent, cold rolled steel by 5 percent, steel welding pipe, 15 percent, … [Read more...]

He made the statement during a national conference in Hanoi on April 23 discussing comprehensive measures to boost exports hosted by the Ministry of Industry and Trade.  The PM said successful countries and businesses consider the world as a market to expand their reaches, thereby seeking ways to improve their competitiveness.  The domestic market with a population of nearly 100 million is important, but it is necessary to look at the global market to achieve sustainable growth, he said.  The leader noted that though administrative procedures have improved, they remain below expectation. He expressed his wish to listen to policy feedback of localities and associations to increase added value of exported commodities, thus making it easier for Vietnamese firms to join the global value chain.  He underscored the need to update Vietnamese exporters about market information and legal regulations abroad, opportunities and risks, and orientations to manufacturing and … [Read more...]

A total of 218 million shares worth over 7.1 trillion VND (312.4 million USD) were traded on the HOSE.  On the Hanoi Stock Exchange (HNX), the HNX-Index declined 4.86 percent from 6.44 points to 124.16 points. More than 71.6 million shares valued at some 1.2 trillion VND (52.8 million USD) were traded on the exchange.  Twenty four of the top 30 largest shares by market value and liquidity (VN30) declined while three, comprising VinGroup (VIC), Vietjet Air (VJC), and Mobile World Group (MWG), advanced.  Across the stock market, oil and gas, banking, securities and real estate were the worst-performing industries on the day, with oil and gas, and bank stocks sharply decreasing.  On the HOSE, foreign investors were net buyers of 1.94 million shares, while selling shares worth a net value of over 38.7 billion VND (1.7 million USD).  Meanwhile, on the HNX, foreign investors turned into net sellers of 1.56 million shares against their net buy value of 34.5 … [Read more...]