[Round-up] China, U.S. Presidents to Pay State Visits to Vietnam, McDonald’s to Open First Outlet in Hanoi

Tuan Minh

10:32 07/11/2017

BizLIVE - U.S. President Donald Trump will pay a state visit to Vietnam on November 11-12 while Chinese President Xi Jinping will pay a state visit to Vietnam on November 12-13. The world’s leading food service retailer, McDonald’s, is set to open its first restaurant in Hanoi.

[Round-up] China, U.S. Presidents to Pay State Visits to Vietnam, McDonald’s to Open First Outlet in Hanoi

U.S. President Donald Trump and Chinese resident Xi Jinping will pay state visits to Vietnam later this week.

China, U.S. Presidents to Pay State Visits to Vietnam
General Secretary of the Communist Party of China (CPC) Central Committee and President Xi Jinping will pay a state visit to Vietnam on November 12-13.
Xi’s visit is made at the invitation of General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and President Tran Dai Quang, the Vietnamese Ministry of Foreign Affairs announced on November 6.
Meanwhile, U.S. President Donald Trump will also pay a state visit to Vietnam on November 11-12 at the invitation of President Tran Dai Quang, the Ministry of Foreign Affairs said 6.
New U.S. Ambassador Pledges to Promote Ties with Vietnam
Newly-appointed U.S. Ambassador to Vietnam Daniel Kritenbrink asserted that he will make efforts to promote ties with Vietnam in various fields, prioritizing trade, investment, maritime security, people-to-people exchange, humanitarian aid and post-war recovery efforts.
At a reception hosted by Ambassador of Vietnam to U.S. Pham Quang Vinh, Kritenbrink lauded cooperative relations between the two countries in the past years and expressed his strong belief in a strong impetus for their comprehensive partnership in the coming time.
Vietnam PM to Attend ASEAN Summits in Philippines
Prime Minister Nguyen Xuan Phuc and his entourage will attend the 31st ASEAN Summit in Manila, the Philippines, from November 12-14 at the invitation of Philippine President Rodrigo Duterte, the Vietnam News Agency (VNA) cited the Foreign Ministry as saying on November 6.
The Vietnamese delegation will also attend the 20th ASEAN 3 Summit with China, Japan and the Republic of Korea (RoK); the ASEAN 1 Summit with China, Japan, the RoK, India, the US, Canada, the European Union and the United Nations; and the 12th East Asia Summit (EAS).
Joining APEC, Strategic Move of Vietnam
Vietnam became a member of the Asia-Pacific Economic Cooperation (APEC) forum 19 years ago, an important milestone in the implementation of the Party and State’s external policies of expansion, diversification and multilateralization of relations and international economic integration, according to VNA.
While commenting on the importance of APEC to Vietnam, Deputy Prime Minister and Foreign Minister Pham Binh Minh said APEC is a leading economic cooperation mechanism in the region and globally. For Vietnam, APEC has strategic importance in both politics and economics.
450 Firms to Attend Vietbuild 2017
Nearly 1,500 booths of 450 firms in real estate, interior-exterior decoration, construction and building materials will be organized during the Vietnam International Construction Exhibition (Vietbuild) 2017 that is slated for November 10-14 in Hanoi.
According to the organizing board, the event will attract 273 domestic firms, 117 joint ventures and 60 foreign enterprises from 22 countries and territories, including the U.S., the UK, France, Spain, Germany, Australia, Sweden , India, Italy, Japan, Singapore, Thailand and Indonesia.
More Japanese Products Enter Vietnam
Seventy-six new products of Japan have recently been brought into the Vietnamese market, according to the Japan External Trade Organization (JETRO).
The products are in four groups, namely confectionery, beverage, ice cream and comic books.
Aeon to Build another Mall in Hanoi at $90-Million Cost
Japan’s Aeon will invest more than 2 trillion dong ($90.3 million) in Ha Dong district, Hanoi. The mall, which has four floors and a basement and covers an area of 150,000 sqm, is expected to be put into operation at the end of 2019 and among the country’s largest shopping centers.
McDonald’s to Open First Restaurant in Hanoi
The world’s leading food service retailer, McDonald’s, is set to open its first restaurant in Hanoi, according to an officer of Good Day Hospitality Joint Stock Company, McDonald’s developmental licensee for Vietnam.
However, the date for the opening of this first restaurant in Hanoi was not disclosed.
Launched in Vietnam in February 2014, McDonald’s Vietnam currently has 16 restaurants, all in Ho Chi Minh City.
Foreign traders net bought 14.63 trillion dong ($644.3 million) worth of Vietnamese shares listed on the two stock exchanges year to November 3, driven by still attractive valuations compared to regional peers and the country’s rapid economic growth.
The stock of Vincom Retail JSC hit the upper limit at the close on November 6, the debut session of the company on the Hochiminh Stock Exchange (HOSE), and become one of the top largest companies on the bourse.
The company’s shares (coded VRE) jumped 20% to 40,550 dong ($1.78) apiece right at the open and maintain that level throughout the whole session. A band of -/+20% is applied for prices of a maiden stock on the HOSE.
Vietnam seems to have huge potential for the development of e-commerce and science-technology, said Alibaba Chairman Jack Ma told Vietnamese Prime Minister Nguyen Xuan Phuc at a meeting in Hanoi on Monday morning.
“I was so eager to come to Vietnam this time,” the chairman of the Chinese e-commerce giant said.
With a big drop in the Manufacturing Purchasing Managers’ Index (PMI) reading in October, Vietnam lost the top position to the Philippines, according to a report by Nikkei and IHS Markit.
The Philippines’ PMI picked up to a four-month high of 53.7 during October while Vietnam slipped to second position as its rate of growth slowed to 51.6, the weakest since May. Vietnam and the Philippines have alternately occupied the top ranking since the start of this year.

TUAN MINH

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