Government courts Swiss enterprises to invest in VietnamThe Saigon Times Daily File photo of a meeting between the Government and a Swiss enterprise delegation led by Andreas Gerber, head of Swiss SME business at Credit Suisse bank, who come to sound out investment opportunities in Vietnam - PHOTO: VGP HCMC – The Government has expressed its desire to attract further investment from Swiss enterprises, praising their great strengths in advanced technology as well as their experience with the fourth industrial revolution and the global supply chain, news website Vietnam Plus reported, citing Deputy Prime Minister Vuong Dinh Hue. Deputy Prime Minister Hue on Monday, November 5, held a meeting with a Swiss enterprise delegation led by Andreas Gerber, head of Swiss SME business at Credit Suisse bank, in a visit to Vietnam to gain more insights into investment opportunities in the country. The Government will create as many favorable business conditions as possible to ease the … [Read more...] about Government courts Swiss enterprises to invest in Vietnam
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Vietnam’s economic growth forecast at 6.88% for the whole year: CIEM
>>> Think tank sets positive outlook for economic growth in 2018 The estimated data was provided by the Central Institute for Economic Management (CIEM) at a seminar themed "Vietnam's Economy: Deepening Reforms and Enhancing Investor Confidence", co-hosted by CIEM and the Australian-funded programme, Australia Supports Economic Reform in Vietnam (Aus4Reform), in Hanoi on October 17. The workshop aimed to update and evaluate the macroeconomic developments in the third quarter and the outlook for the whole year, while giving recommendations on economic reform and macroeconomic management orientations in the last months of 2018 and the following years. Priorities given to macroeconomic stability According to CIEM's report, high economic growth in the first two quarters of this year will help to significantly reduce the pressure on achieving the economic growth targets in the last months of the year. Exports and the disbursements of foreign investment increased quite stably, … [Read more...] about Vietnam’s economic growth forecast at 6.88% for the whole year: CIEM
Producers in China eye Vietnam in wake of US tariffs
Factory owners in China’s Guangdong Province said that they are planning to produce outside China, given the existing tariffs and uncertainty about future U.S. trade measures. Angelo Cheung, a Hong Kong-based executive for Aoyagi, a Japanese electronics group that manufactures in China, told Financial Times that some orders from the U.S. had already been halted because of the increasing uncertainty. Cheung said his company is considering various options including moving part of its supply chain to Vietnam. Now with tariffs on made-in-China products set to rise, nations like Cambodia and Vietnam turn out to be more attractive than ever for U.S.-based consumer-goods makers that have factories in China. Some of the names on the list are now Steven Madden Ltd., Tapestry Inc.’s Coach and Vera Bradley. Steve Lamar, executive vice president of the American Apparel & Footwear Association, told Bloomberg that “the shift has been under way” and that the talk of … [Read more...] about Producers in China eye Vietnam in wake of US tariffs
Vietnam attends regional ministerial meeting in Japan
Tanjong Pagar terminal in Singapore - Illustrative image (Source: AFP/VNA) Tokyo (VNA) – A Vietnamese delegation led by Minister of Industry and Trade Tran Tuan Anh attended the fifth Inter-sessional Ministerial Meeting of the Regional Comprehensive Economic Partnership (RCEP) which opened in Tokyo on July 1. The event is a chance for the negotiating countries to review progresses of a series of important chapters of the RCEP, Minister Anh told Vietnam News Agency. He highlighted efforts of parties to the RCEP over the past five years, saying there are differences because the RCEP is a large agreement and the development level of economies to the deal is different, leading to various benefit requirements. Ministers from 16 Asia-Pacific countries joined the event, the first to be held outside the Association of Southeast Asian Nations (ASEAN). In his speech, Japanese Prime Minister Shinzo Abe called for creating a free, rules-based and fair market. Earlier, a meeting of heads … [Read more...] about Vietnam attends regional ministerial meeting in Japan
Footwear giants shift outsourcing from China to Vietnam
Major brands in the footwear industry are shifting their outsourced work to Vietnam instead of China, but experts doubt this will be a good thing in the long run. Sneaker giant Adidas last year had 44 percent of its footwear produced in Vietnam, more than double the 19 percent made by suppliers in China. This figure also marked a 31 percent increase from 2012 for Vietnam and a 30 plus percent decrease for China A similar move can also be seen at Adidas’ rival Nike, which had 46 percent of its footwear made in Vietnam last year, against just 27 percent in China. While China remains the top supplier in the fashion industry, Vietnam is now seen by major brands as a solid and critically important supplier in second place, according to survey results released by the United States Fashion Industry Association. “We are reporting a change in the sourcing trend, from ‘China Plus Many’ to ‘China Plus Vietnam Plus Many,’” the association said. The typical … [Read more...] about Footwear giants shift outsourcing from China to Vietnam