EVFTA opens new era in Vietnam-EU trade ties: Italian experts The factory of the Far Eastern New Apparel Vietnam company in Bac Dong Phu Industrial Park, Binh Phuoc province The EU-Vietnam Free Trade Agreement (EVFTA) is hoped to usher in a new period in promoting cooperation and mutual economic development between the two sides as it comes into effect in mid-2019, according to Italian experts. In a recent interview granted to Vietnam News Agency’s correspondent in Italy, Vietnam’s Honorary Consul in Turin Sandra Scagliotti and Chairman of the Italy-Vietnam Chamber of Commerce Fulvio Albano stressed that the new-generation agreement may mark the beginning of a new era in trade relations between Vietnam and the EU. Negotiations and the legal review have been completed for both the free trade agreement and the one on investment protection. The EVFTA process is now awaiting the Council of Europe and the European Parliament to sign and ratify it. The agreement … [Read more...] about BUSINESS NEWS IN BRIEF 22/1
Corporate form of business
20th edition of Vietfish expo opens in HCM City The country’s premier fisheries expo, the Viet Nam Fisheries International Exhibition, returns to HCM City 30 per cent larger than when it debuted in 2008.The event, hosted by the Viet Nam Association of Seafood Exporters and Producers (VASEP), opened on August 22 at the Sai Gon Exhibition and Convention Centre in District 7.In its 20th edition this year, the annual event, with the theme “Asia’s Home of Seafood”, has attracted 233 exhibitors from 14 countries and territories.The organisers said the exhibition this year has been expanded by nearly 200sq.m from last year with 7 per cent more exhibitors.Vietnamese companies are once more showing off their potential as leading fisheries exporters.Some 66 per cent of the exhibitors are domestic, organisers said.Of the participants, 55 per cent are in aquaculture and services while the remaining 45 per cent sell machinery and equipment, chemicals, … [Read more...] about BUSINESS NEWS IN BRIEF 24/8
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc (Source: VNA) Can Tho (VNA) - Enterprises need to take actions in order to innovate themselves, towards stronger development amid difficulties, said Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc. Speaking at a business connection programme held by entrepreneur and business associations in 17 provinces and cities nationwide in the Mekong Delta city of Can Tho on July 20, Loc stressed that business associations should join hands with the Government to remove difficulties facing their member firms. According to Loc, around 1.2 million enterprises have been established in Vietnam so far. However, only 640,000 of those are operating, with 60 percent reporting no profits. The majority of Vietnamese enterprises are small and medium-sized with low corporate management index, Loc said. “This shows what difficulties business communities are facing”, he noted. He … [Read more...] about Local businesses urged to renovate for stronger development
Your Excellency Samdech Techo Hun Sen, Prime Minister of Kingdom of Cambodia, Your Excellency Thongloun Sisoulith, Prime Minister of Laos, Your Excellency Prayut Chan-o-cha, Prime Minister of Thailand, Your Excellency U Henry Van Thio, Vice President of Myanmar, Your Excellency Wang Yi, State Councilor of People’s Republic of China, Your Excellency Takehiko Nakao, President of ADB, Your Excellency Lim Jock Hoi, Secretary- General of ASEAN, Your Excellency Joaquim Levy, World Bank Managing Director and World Bank Group Chief Financial Officer, Ladies and Gentlemen, On behalf of the Government of Viet Nam, I would like to welcome all distinguished leaders, delegates and businesses to the GMS Business Summit. For the first time ever, a large scale forum is organized on the occasion of GMS Summit and CLV Summit on Development Triangle Area. Together with all the leaders, I especially welcome the participation of nearly 2600 investors and entrepreneurs of the region and the … [Read more...] about Speech by Prime Minister Nguyen Xuan Phuc at GMS Business Summit
Probability of a bubble Vo Huynh Tuan Kiet Since its quick recovery in 2014, the Vietnamese real estate market has witnessed an unparalleled supply of new projects being constantly launched and with good net absorption. Along with the market’s traditional segments, new products have been introduced, such as second-home villas, condotels, and officetels. Since 2015, the Vietnamese government loosened its requirements for foreigners to buy and own properties in Vietnam, which helped attract more foreign investors to the market (Figures 1 and 2). Nonetheless, many experts and investors have cast doubts upon this rapid recovery, predicting underlying risks. These risks include an oversupply of high-end projects, the return of speculators, and falling market demand. The biggest concern would be another property bubble akin to the one that shook the market in 2007 and froze the property market until 2013. The market is still paying the cost of this previous bubble. As the … [Read more...] about Signs of another property bubble?