Vietnam foreign direct investment

Wooden furniture processing at a factory in Vietnam. Economists say the global economic situation has had an impact on the Vietnamese economy  The National Assembly (NA) Office and the NA Economic Commission co-held the “Vietnam SocioEconomic Forum 2018: Current Situation and Prospects” in Ho Chi Minh City on September 18 and 19. The forum was aimed at providing vital inputs for NA deputies to prepare for the sixth sitting of the law-making body next month to examine the execution of the NA resolution on socioeconomic development for 2018, according to Le Bo Linh, vice general secretary and deputy head of the NA Office. He noted that short- and long-term factors at home and abroad have impacted the adoption of the resolution’s measures. Therefore, it is necessary to identify the challenges and prospects of executing the socioeconomic objectives to present key solutions for the remainder of the year. Global economic uncertainty has had an impact on the … [Read more...] about Vietnam could lose growth momentum: economists

The EU-Vietnam Business Network (EVBN) will implement a trade promotion program for food and beverage in Ho Chi Minh City and Hanoi on February 28- March 3 to help European businesses access the potential market and seek partners. Executives of 29 food and beverage businesses from 14 EU countries will attend seminars and workshops to study investment environment and quality food concepts in the country. According to EVBN, EU businesses want to access Vietnam market in different fields, especially food and beverage, to prepare for the EU-Vietnam Free Trade Agreement (EVFTA) which comes into effect in 2018. In late last year, a business delegation of 40 EU firms arrived in Vietnam to meet Vietnamese retailers and businesses. The Vietnam Foodexpo 2016 in HCM City in November attracted many producers from Italy, Poland, Germany, the Republic of Korea and Thailand to take part in. Many foreign businesses have invested in Vietnam food and beverage market through M&A … [Read more...] about European F&B businesses seek opportunities in Vietnam

Vietnamese commercial banks have been seeking capital from overseas for the last two years. VP Bank has consulted with shareholders about a plan to issue and list international bonds. There are two options for the bank. It would issue $1 billion worth of 3-5 year bonds this year and in 2020, or it would issue $120 million worth of 3-year green corporate bonds which will be disbursed to fund green projects. Prior to that, in late September 2018, HD Bank asked for shareholders’ opinions on the plan to issue $300 million convertible 5-year-and-one-day bonds with fixed interest rates to fewer than 100 investors. The dong/dollar exchange rate has stabilized over the last few years with the dong devaluation level not exceedinh more than 2 percent each year. Meanwhile, the banks’ demand for medium- and long-term capital continues to be high, while the domestic capital sources are limited. Not only issuing corporate bonds in foreign currencies, banks have also been … [Read more...] about Experts see low risks in seeking foreign capital

Aung San Suu Kyi, Myanmar State Counsellor, Minister of Foreign Affairs, and Minister of the President’s Office, will pay an official visit to Vietnam from April 19-20 at the invitation of Prime Minister Nguyen Xuan Phuc. Aung San Suu Kyi, Myanmar State Counsellor, Minister of Foreign Affairs, and Minister of the President’s Office Vietnam and Myanmar have shared a sound traditional friendship. Myanmar was one of the first Southeast Asian countries to set up diplomatic relations with Vietnam in 1975 and whole-heartedly supported Vietnam during the struggle for national independence and reunification. The two countries elevated their bilateral ties to a comprehensive cooperative partnership during a State visit to Myanmar by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong in August 2017. Bilateral trade reached US$ 828.3 million in 2017, up 51 percent from 2016. Vietnam has become the 7th biggest foreign investor in Myanmar with 70 projects worth … [Read more...] about Myanmar State Counsellor to visit Vietnam

The U.S. market currently accounts for some 47% of Vietnam’s apparel revenue, while the ratio for Vietnamese leather shoe exports is 37%. Therefore, the accelerating trade war will have a significant impact on the nation’s key export products, according to a Nguoi Lao Dong newspaper report. The more opportunities, the more risks The Ministry of Industry and Trade has reported to the prime minister the influences of the U.S.-China trade war, noting the danger of a large inflow of Chinese apparel and leather shoe products. However, from another perspective, the trade war could help Vietnamese firms expand their market share and raise exports to the United States, as international manufacturers will have to transfer their production orders from China to Vietnam. According to Diep Thanh Kiet, vice chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO), the trade war may not affect the local shoe industry for the next one to two months because the United … [Read more...] about Vietnam’s shoe, apparel export orders to surge