The dong is among the steadiest currencies in ASEAN. — VNA/VNS Photo The US is refraining from labelling Viet Nam a currency manipulator based on new data the country had provided to the Treasury Department, Bloomberg reported late last week, citing a person familiar with the matter. Earlier, it was reported that Viet Nam had been at risk of the designation amid plans by President Donald Trump’s administration to lower the threshold for labelling potential manipulators. The latest news came after in recent weeks, Viet Nam provided additional data aimed at showing the US Treasury it wasn’t holding down the value of the Vietnamese dong. Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh visited Washington on May 22-23, where he met with a number of US officials, including Treasury Secretary Steven Mnuchin last Thursday. According to a statement by the Vietnamese Ministry of Foreign Affairs, at the meeting with Minh, Mnuchin said trade and … [Read more...] about US won’t label Viet Nam a currency manipulator
Xe asean tran vao viet nam
US largest trade delegation ever visits Viet Nam
The US-ASEAN Business Council (US-ABC) launched a conference in Ha Noi on Monday with the largest trade delegation ever sent from the US to Viet Nam in the organisation’s 35-year history. The delegation includes famous names such as Apple, Google, ExxonMobil, Amazon, Microsoft, PepsiCo, GE and Intel. During a brief meeting held on Monday, President of the US-ABC Alexander Feldman said the companies would be participating in an annual business mission that would discuss a wide range of issues and a Health and Life Sciences mission. A workshop on cybersecurity and data privacy will also be part of the week-long programme. The companies will be meeting with the Prime Minister and key members of his cabinet as well as leaders of the State and National Assembly to discuss business issues and policy recommendations. “We have been doing this business mission for nearly a decade. It has been a pleasure to see the country grow; the opportunities increase in Viet Nam and the US … [Read more...] about US largest trade delegation ever visits Viet Nam
Cognex expands presence in ASEAN market, targeting Việt Nam
Viet Nam News SINGAPORE — Việt Nam was an impressive emerging market with a rapid increase of foreign direct investment (FDI) as well as the appearance of mega-factories in recent years, stimulating technology corporations to expand their presence here. The statement was made by Eric Moon, vice president and head of Asia sales at Cognex Corporation at the launch of its new office on Monday in Singapore. Cognex Corporation is one of the world’s leading suppliers of industrial barcode readers and machine vision. The expansion in Singapore comes on the back of the company launching its first local office in Việt Nam in 2017, and will provide a strong base for Cognex to consolidate and co-ordinate the company’s efforts as it looks to tap into the huge potential of the burgeoning manufacturing industry in ASEAN, specifically Việt Nam, Indonesia and Thailand. Emerging markets across the region are experiencing increased demand for manufacturing, … [Read more...] about Cognex expands presence in ASEAN market, targeting Việt Nam
Viet Nam, Hong Kong to promote trade amid US-China tensions
Viet Nam and Hong Kong should promote investment, trade and service flows between the two sides to take advantage of a diversion of trade from China amid escalating tension between the US and China, a banking official said yesterday. Speaking at a media briefing in HCM City, Terence Chiu, country head of commercial banking at HSBC Hong Kong, said that more Hong Kong investors were eyeing Viet Nam as a good destination to seize huge opportunities for investment. Some companies had started shifting production out of China to avoid tariffs imposed by the US, he said. “Viet Nam is very likely to benefit from the adjusted supply chains,” he added. “We have seen strong business flow from Hong Kong to Viet Nam,” he told Viet Nam News. Over the past five years, trade between Viet Nam and Hong Kong has seen double-digit growth. Compared to other ASEAN member countries, Viet Nam had many advantages, which have helped the country gain attention from Hong Kong businesses, … [Read more...] about Viet Nam, Hong Kong to promote trade amid US-China tensions
Viet Nam an FDI magnet in Southeast Asia: experts
A worker checks steel products at an industrial zone in the northern province of Bac Giang. The province has granted licences to 46 FDI projects with total investment of US$152.2 million, bringing the total numbers to 233 projects and $3 billion. — VNA/VNS Photo Danh Lam Viet Nam is among the few ASEAN member countries to consistently improve its attractiveness to foreign investors due to its growing economy and improving business climate, according to experts. According to Berly D. Alvarez, chairman of the Philippines’s Kaunlad Lending Investors Corporation and a speaker at the 2018 Horasis Asia Meeting held recently in Binh Duong Province, Viet Nam’s ability to attract FDI is due to its consistent economic reform, a young and increasingly urbanised population, affordable labour, constant improvements to its business climate, and political stability. The fact that it hosted the 2017 APEC meetings highlights its regional economic integration and steadily improving … [Read more...] about Viet Nam an FDI magnet in Southeast Asia: experts