ACV Set to Start Building Mega Airport in 2021
Airports Corporation of Vietnam (ACV), which now manages 22 airports in the country, plans to kick off the construction of Long Thanh International Airport near Ho Chi Minh City in April 2021, two years behind the original schedule.
It is taking ACV longer than expected to finish all the pre-construction tasks for the megaproject that will cost an estimated $15.8 billion, an ACV executive said.
Vietnam-Taiwan Economic Links Thrive
Economic and trade cooperation between Vietnam and Taiwan (China) has strongly expanded in recent years, with two-way trade in 2015 hitting $13 billion, according to the Vietnam News Agency.
In the first four months of this year, Taiwan ranked third among 50 countries and territories running investment in Vietnam, with Taiwanese capital running to processing and manufacturing industries, water supply, waste treatment and logistics services.
Instant Noodle Sales Rise in Vietnam
Vietnam has a huge domestic market for instant noodles with sales of nearly 20 trillion dong ($889 million) per year.
According to Euromonitor, a foreign research firm, Vietnam’s instant noodle market had a value at 24.3 trillion dong in 2015, 10% higher than 2014. The value was expected to grow to 25.7 trillion dong in 2016 and 26.6 trillion dong in 2017.
Japan Eyes TPP Investment in Vietnam’s Agriculture
Once the Trans-Pacific Partnership (TPP) comes into force, the agreement would put Japan in a disadvantageous situation since its agricultural production is small and expensive.
Japanese firms therefore decided to step up investment in the Vietnamese agriculture sector since the latter is also a TPP member, the Vietnam Investment Review cited Japanese investment consulting firm Seiko Ideas Corp as saying.
Foreign Investment into Mechanical Engineering Expected to Surge
Foreign capital inflow to Vietnam, especially to the mechanical engineering industry is expected to surge in the upcoming times, according to VNA.
The remark was heard at a sideline press conference of the MTA 2016, an international precision engineering, machine tools and metal working exhibition and conference, opened in southern Ho Chi Minh City on July 5.
Vietnam, Russia Boost Links in Oil and Gas Production
Russian President Vladimir Putin has signed a federal law on ratifying an agreement between the Russian and Vietnamese governments on cooperation in geological survey and production of oil and gas in Russia within the framework of the joint venture Rusvietpetro.
According to Vietnam National Oil and Gas Group (PetroVietnam
), along with the agreement, the protocol amending the inter-governmental agreement dated December 27, 2010 on continued cooperation in geological survey and oil and gas exploitation in Vietnam’s continental shelf by Vietsovpetro, which was signed on April 20, 2016, also began taking effect.
Foreign Investors Interested in Property M&As in Vietnam
Merger & acquisition (M&A) activities are attractive to foreign investors, especially those from Japan, according to a survey conducted by Jones Lang LaSalle Vietnam (JLL Vietnam), one of the foreign real estate services firms in Vietnam.
The firm said foreign investors will continue seeking investment opportunities in big cities, citing that the central city of Da Nang is now a preferred destination for property investors as it boasts advantages in infrastructure and environment, and particular products.
Sales of apartments in Hanoi increased 7% in the second quarter of this year, up 7% from the previous three months. Meanwhile, the average occupancy of retail space decreased amid stronger supply.
Vietnamese people spent $1.18 billion on importing 49,000 Completely Built Up (CBU) automobiles in the first six months of this year, down 11.2% in volume and 21.2% in value from a year earlier, according to the General Statistics Office.
NYSE-listed agribusiness Bunge Limited has signed a deal to sell 45% of its equity in its Vietnam crush operations to Singapore’s Wilmar International Ltd, the world’s largest palm oil processor and one of the biggest soybean buyers, according to a statement filed on Bunge’s website.
It’s now the mature timing for Vietnamese enterprises to make investments in Japan as the Northeast Asian nation’s economy is recovering and its tourism is booming, Shigeki MAEDA, executive vice president of the Japan External Trade Organization (Jetro), said at a conference in Hanoi on July 5.
Vietnam Government Debt Doubles in 2010-2014
Vietnam’s government debt increased to 1,826 trillion dong ($85.95 billion) at the end of 2014, surging 105.3% from 889.39 trillion dong four years earlier, data of the Ministry of Finance showed.