Australia vietnam business council

At the mid-term review meeting (Photo: MPI) Hanoi (VNA) – The Vietnamese Ministry of Planning and Investment (MPI), in coordination with the Japanese Embassy in Vietnam and the Japan-Vietnam Economic Committee under the Japan Business Federation (KEIDANREN), held a mid-term review meeting for the Vietnam-Japan Joint Initiative (eighth phase) in Hanoi on July 5. It was reported at the meeting that 47 out of the total 80 sub-items in the joint initiative have been well implemented as scheduled so far, 15 are underway, six make no progress, and work will start on 12 others in the time ahead. Do Nhat Hoang, head of the Foreign Investment Agency under the MPI, said Vietnamese ministries and agencies have coordinated with the Japanese side to implement commitments in the action plan of the initiative. Vietnam’s commitment to materialising the joint initiative manifests the government’s resolve to improve the domestic investment environment, he said. Many legal documents … [Read more...] about Vietnam, Japan review joint initiative

Deputy Minister of Industry and Trade Do Thang Hai speaks at the forum (Photo: VNA) Mexico City (VNA) – A delegation of 23 Vietnamese entrepreneurs, led by Deputy Minister of Industry and Trade Do Thang Hai , attended the Vietnam-Mexico Business Forum in Mexico City on July 4, aiming to seek cooperation opportunities with the host country’s partners. Undersecretary for Foreign Trade in Mexico 's Secretariat of Economy Luz Maria de la Mora spoke highly of the bilateral economic and trade relations, affirming that Mexico considers Vietnam a strategic market in the Asia-Pacific region. She expressed her hope that the two countries’ authorised agencies will continue strengthening close coordination in the coming time and their businesses will effectively take advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), contributing to promoting bilateral trade turnover as well as post-pandemic economic recovery. The official affirmed … [Read more...] about Vietnam, Mexico promote economic, trade, investment cooperation

Cargoes at Tan Cang – Cat Lai warehouse are being loaded into containers. (Photo: SGGP) Adding to difficulties from possible logistics chain disruption and increasing fuel prices is the challenge to approach capital amounts. Thanks to the stable political and social status of the country plus the well-controlled pandemic, Vietnam is a preferred choice of many foreign investors. 17 trade agreements have been successfully signed in the first 6 months of 2022, bringing about a direct foreign investment of over US$10 billion in the country, a rise of nearly 9 percent compared to this time last year. Vice CEO in charge of global supply sources of Techonic Industries (TTI) Nate Easter informed that his company chose to start a new manufacturing plant in Saigon Hi-tech Park in HCMC, worth $650 million. This is the second largest among 12 plants of TTI in the world to earn a revenue of $2.5 billion a year. TTI needs to build a supply chain of domestic support industry products for 80 … [Read more...] about Vietnam becoming attractive destination for foreign capital

Vietnam has opportunity for exports of agricultural products In the middle of May, India, the world's second biggest producer of cereal, announced a ban on wheat exports as a part of measures to control rising domestic prices amid concerns of output being hit by a scorching heatwave. The price of wheat has jumped in the international markets resulting in an acceleration of cereal prices because in March, the government of Ukraine, one of the world's top grain exporters, banned the export of wheat, oats, and many staples which are important to the global food supply Also in March, Russia's Prime Minister on March 14 signed a decree banning the export of white and raw sugar until Aug 31, and banning wheat, rye, barley, and maize exports to neighboring Eurasian Economic Union states. Another thing that has also attracted the attention of many countries is Indonesia's decision to ban all exports of crude palm oil and cooking oil at the end of April. Although this ban lasted only … [Read more...] about Vietnam has opportunity for exports of agricultural products

At the forum (Photo: baoquocte) Quang Nam (VNA) – The central province of Quang Nam has briefed overseas Vietnamese entrepreneurs in Thailand on its investment, trade and tourism incentives well as projects calling for investments at a forum in Hoi An city on July 5. Speaking at the event, Chairman of the provincial People’s Committee Le Tri Thanh said Quang Nam now counts 195 FDI projects with total registered capital of 6 billion USD, mainly focusing on processing-manufacturing, tourism and services. Of the 30 countries and territories investing in the province, Thailand contributes four projects worth some 43.4 million USD in the fields of agriculture and processing-manufacturing, he added, stressing that the Thai firms are operating effectively and significantly contributing to local development. Vietnamese Ambassador to Thailand Phan Chi Thanh said Thailand is a big economic partner and the ninth largest investor of Vietnam with more than 600 projects valued … [Read more...] about Quang Nam lures Vietnamese businesses in Thailand

Vietnam expands exports of premium rice segment Specifically, Vietnam's 5 percent broken rice average price hit US$418 a ton, $8 per ton higher than that of Thailand, $30 a ton more than Pakistan's, and $75 per ton in India. Vietnam's 5 percent broken rice is the premium rice segment. Meanwhile, the price of Vietnam’s 25 percent broken rice segment for export is $403 a ton, equal to Thailand but higher than Pakistan and India from $35-$75 a ton. Vietnam's premium rice segment has also been exported to Japan and Europe. Specifically, Tan Long Group’s A An rice was officially displayed in supermarket chains in Japan; moreover, the group has just successfully exported a shipment of ST25 rice branded A An to Japan while Loc Troi Group has exported 500 tons of Loc Troi brand Vietnamese rice fragrant rice to Europe. By Vinh Tuong - Translated by Anh Quan … [Read more...] about Vietnam expands exports of premium rice segment

Vietnam and South Korea aim to raise the value of bilateral trade between the countries to $100 billion next year and to $150 billion by 2030, up from $78 billion last year, the Vietnamese government said. The trade targets were agreed during a telephone call between South Korean Prime Minister Han Duck-soo and his Vietnamese counterpart Pham Minh Chinh late on Tuesday, a government statement said. South Korea is an important economic partner for Vietnam and the largest source of foreign direct investment. Samsung Electronics is the biggest single foreign investor in the Southeast Asian country. Han and Chinh also agreed to seek ways to narrow the gap in bilateral trade, the statement said. Vietnam incurred a trade deficit of $34 billion with South Korea last year, according to Vietnamese customs data. Vietnam's main imports from South Korea include electronics, machinery, metals, plastics, fabrics and fuels. During the call, Han and Chinh also shared views on the importance … [Read more...] about Vietnam, South Korea aim to boost trade to $100 bln next year

The Vietnamese Government for its part would create utmost conditions for South Korean companies to succeed in Vietnam and commit long-term presence in the country. Vietnam and South Korea aim for a bilateral trade turnover of US$100 billion by 2023 and $150 billion by 2030 while striving for a more harmonious trade balance for mutual benefit. Prime Minister Pham Minh Chinh at the phone talk. Source: VGP The view was shared during a phone talk between Prime Minister Pham Minh Chinh and his South Korean counterpart Han Duck-soo on July 5. At the talk, Chinh congratulated Han on his appointment as South Korea’s Prime Minister. The Vietnamese leader ssid bilateral relations have been on the rise amid a volatile world and severe Covid-19 impacts. “Both countries have been top partners of each other, especially in economy, trade, and investment,” Chinh said. According to Chinh, Vietnam remains steadfast in pursuing an independent foreign policy based on … [Read more...] about Vietnam, S.Korea aim for a US$150 billion trade turnover by 2030

At the three-day meeting, the delegates will listen to reports of the Municipal People’s Committee on the socio-economy situation in the first six months of 2022 and missions, and solutions in the second half of the year; consider some reports of the HCMC People’s Committee. Of which, there will be reports related to public investment planning, school fees at all levels, attraction policies and support for staff working at commune-level agencies. Notably, the delegates will perform thematic supervision on the implementation of Resolution No. 54/2017 of the National Assembly on piloting specific mechanisms and policies for the development of the southern metropolis. At the meeting, the standing board of the HCMC People’s Council will also give assessments on proposals of HCMC’s People’s Committee’s voters at the previous meetings. In addition, the Vietnam Fatherland Front Committee of Ho Chi Minh City will also announce the participation in government building activities in the … [Read more...] about Sixth meeting of 10th tenure People’s Council of HCMC opens

True Italian Taste 2022's theme of “Authentic Italian Table - Italian Breakfast & Aperitivo” introduces an overview of Italian breakfast – its practice, special features and local staples of Tuscany region. (Photo courtesy of Multimedia JSC) HCM City (VNS/VNA) - True Italian Taste 2022, a project aiming to promote authentic Italian cuisine to the world, has kicked off in Vietnam. The project is promoted and financed by the Italian Minister of Foreign Affairs and International Cooperation to promote and safeguard authentic and quality Italian products. It is coordinated by Assocamerestero (Association of Italian Chambers of Commerce Abroad) in collaboration with the Italian Chamber of Commerce in Vietnam (ICHAM), with the patronage of the Embassy of Italy in Vietnam. The theme of this year’s project is “Authentic Italian Table - Italian Breakfast & Aperitivo” which introduces an overview of Italian breakfast – its practice, special features and local staples of the … [Read more...] about True Italian Taste 2022 promotes Italian cuisine in Vietnam