Vietnam, New Zealand Biz Sign 4 Agreements
Vietnamese and New Zealand enterprises inked four agreements as the two countries seek to enhance economic cooperation during the visit by New Zealand PM John Key to Vietnam between November 14 and 17.
The deals were reached between Global Trust Alliance, AsureQuality and Vinamilk, Airways International and Vietnam Air Traffic Management Corporation (VATM), Airways International and Vietnam Aviation Academy (VAA), and Aviation New Zealand and VietJet Air
Vietnam, Japan Hold Forum to Boost Tourism, Investment Links
As many as 80 Vietnamese and 100 Japanese companies took part in an investment and tourism promotion seminar held in Gifu Prefecture last Saturday to promote Vietnam’s tourism potential to Japanese tour operators and travelers in Japan’s central provinces.
Participants met to explore cooperation in the areas of tourism, agriculture, vocational training, trade and investment.
Vietnam Transport Ministry Reaps $107 Million from Non-core Divestment
The Vietnamese Ministry of Transport collected some 2.4 trillion dong ($107 million) from withdrawing stakes in 36 enterprises in the first 10 months of this year.
The ministry also conducted initial public offerings for in eight companies, including National Transport Hospital on October 21.
Vietnam Travel Firms Plan Europe Tour Changes
Travel firms in Ho Chi Minh City have said that their Vietnamese guests are safe after deadly terrorist attacks in Paris last week but they are planning to change their Europe tour itineraries to ease customers’ concerns over the situation in the French capital.
Canada’s Sun Life to Lift Holding in Vietnam JV to 75%
Sun Life Canada, a subsidiary of Sun Life Group, has reached an agreement with Hanoi-based PVI Holdings (PVI) to increase its stake in PVI Sun Life, an insurance joint venture between the two companies, to 75% from 49% currently by acquiring a 26% stake from PVI.
After more than two years of operation, PVI Sun Life has become the sixth-largest life insurer in Vietnam and leads the pension insurance market.
Siam Cement Group (SCG), Thailand’s top building materials producer, has considered partnering with Hanoi-based Viglacera Corporation to expand its operation in Vietnam.
The two sides plan to jointly carry out a project to produce medium- and high-end construction materials for domestic sales and export.
Vietnam’s public debt will reach a peak of 64% of gross domestic product (GDP) in 2017 before being slashed to as low as 58% in 2020, said Finance Minister Dinh Tien Dung at the National Assembly’s Q&A session on Tuesday morning.
The minister affirmed that the nation’s public debt per GDP will rise from 59.6% last year to 61.3% this year, still below the permitted cap of 65%.
Vietnam had a trade surplus of $499.55 million in October, versus a trade gap of $220.57 million in September, according to data of the General Department of Vietnam Customs.
Vietnam’s exports increased 3.6% month-on-month to $14.31 billion while its imports slid 1.6% month-on-month to $13.81 billion, the department said in its latest report.
Vietnam’s Minister of Finance Dinh Tien Dung has pledged to retrieve 34 trillion dong ($1.5 billion) worth of recoverable tax arrears in the coming time, out of a total of 76 trillion dong in taxes that local enterprises owe.
As many as 22 countries from the European Union (EU) had registered to invest in 1,710 projects with a combined capital of $21.48 billion in Vietnam as of October 20, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said.
The Netherlands, the United Kingdom, France, Luxembourg and Germany of the 28-nation bloc are the biggest investors in Vietnam. Investment of these five countries makes up 85% of the total.
UK businesses have 222 valid investment projects in Vietnam with a combined capital of $4.44 billion, putting the country the 15th-largest investor in Vietnam, said the FIA.
They have poured $688.17 million in five oil and gas projects offshore Vietnam as of October 20, accounting for 15.51% of UK investment in the country.
Around half of surveyed Asia Pacific CEOs say they plan to raise investments in Vietnam, the Philippines and Singapore during the next year although confidence among CEOs has declined, according to PwC’s fifth annual APEC CEO Survey.