Disbursed FDI in Vietnam Forecast to Hit All-time High in 2015: Minister
Disbursed foreign direct investment (FDI) in 2015 is projected to reach a record high of $14 billion this year, $1.5 billion more than last year, Planning and Investment Minister Bui Quang Vinh
Pledged foreign investment is forecast to increase over last year’s $21.9 billion, he added.
Overseas Remittances to HCM City May Hit $5.5 Billion This Year
Overseas remittances to Ho Chi Minh City are expected to increase 10% year-on-year to $5.5 billion this year, 76% of which has come from America and Europe.
The Vietnamese dong has devalued 5% against the U.S. dollar in the year to date after the State Bank of Vietnam has made three devaluations and tripled the USD/VND trading band to +/-3%.
Record-Higher Number of Indonesia Businesses to Come to Vietnam
Executives from top 200 Indonesian businesses, possibly the highest number so far, will attend a trade promotion event in Hanoi next week to explore investment opportunities in Vietnam, Indonesian ambassador Mayerfas has said.
Most of the businesses attending the 2015 Indonesia Trade Fairs and Business Forum on December 10-12 have never invested in Vietnam, he said at a press meeting.
FPT, Fujitsu Complete Smart Agro Center
FPT Corporation and its Japanese partner Fujutsu have finished the construction of a joint smart agricultural center on the outskirts of Hanoi.
Located on an area of 400 square meters, the center will help Fujitsu promote its business models, advanced technologies and know-how in the agricultural sector.
Online Food Delivery Platform Foodpanda Gets Acquired by Rival
Days after announcing the shutdown of its Vietnamese business, Rocket Internet’s Foodpanda on Dec. 8 announced that it sold itself to local rival Vietnammm for an undisclosed amount.
“This deal enables Foodpanda’s customers and listed restaurants to keep making and receiving orders online in Vietnam,” the company said in a statement sent to Tech in Asia.
Vietnam Restaurant Chain Operator Huy Vietnam Plans Offshore IPO
Huy Vietnam Group, operator of restaurant chains based in Ho Chi Minh City, is expected to file an application with Hong Kong Exchanges and Clearing for a listing this month, according to FinanceAsia.
Bankers familiar with the deal said the listing could raise up to $100 million. This could be the first overseas listing of a Vietnamese firm although some have tried.
Japan Firms Showcase Hi-tech Agro Products in Vietnam
Seven Japanese businesses namely Hyponex, Hanagokoro, Menedael, Toyo Chuu, Watanabe Pipe, Hiep Phat and Iseki exhibited some 500 hi-tech agricultural products at an expo in HCM City on Sunday, in a bid to expand into Vietnam.
These firms are manufacturers of clean soils, high-quality seeds, smart fertilizers, hi-tech agro-machinery, net houses and other agricultural equipment, enabling them to supply all of the necessary materials for agricultural production in Vietnam.
Japan Biz Explore Investment Opportunities in Vietnam Agriculture
A delegation of 32 Japanese companies has started a field trip to explore investment opportunities in Vietnam’s agriculture as the two countries are parties to the Trans-Pacific Partnership (TPP
), according to the Japan External Trade Organization (Jetro).
The firms, that supply fertilizers, seedlings, and agricultural machinery, will visit a number of agricultural production centers, farms and agribusinesses in six Vietnamese localities.
Vietnam Credit Growth Seen to Surpass 17% This Year
Total outstanding loans in the Vietnamese banking system are likely to grow more than 17% this year, after having risen 14.5%-15% in the January-November period.
Faster credit growth has helped boost Vietnam’s economic growth to 6.5% in the first three quarters of this year.
EVFTA Will Trigger Bigger Wave of European Investment in Vietnam: EU Ambassador
Bruno Angelet, Ambassador – Head of EU Delegation to Vietnam forecast a new wave of European investors coming to Vietnam following a recently-concluded trade pact between the two economies.
“It is very much hoped that, through the Indicative Roadmap even before early 2018, it [the FTA] will trigger a bigger wave of European investment coming into Vietnam,” the ambassador noted.
The EU has become the third-largest foreign investor in Vietnam in 2015 from the sixth position in 2014. “That is something encouraging for the good of Vietnam.”
Vietnam’s health authorities have launched an investigation into sanitary conditions at production facilities of beverage firm Suntory PepsiCo Vietnam (SPVB).
The authorities will inspect SPVB’s production facilities in Bac Ninh, Ho Chi Minh City, Dong Nai provinces, and Can Tho city after local media reported that the firm used unqualified water for its production, the Tien Phong newspaper reported, citing a health official.
A recently-concluded free trade agreement will facilitate the access of European food and drink product to the Vietnamese market with over 90 million consumers.
The European Union (EU) and Vietnam on 2 December finalized talks for a free trade agreement (FTA) that will give greater access to EU exports of wine, spirits, meat and dairy products to Vietnam, where the consumerism and the middle class are on the rise.
Vietnamese families spend some $3 billion annually to cover expenses for their children’s overseas studies. Meanwhile, foreign investors complain of cumbersome paperwork to win a license to open an international education facility in Vietnam.
Taiwan-based Cheng Loong Corporation has won a license to carry out a paper plant project in the southern province of Binh Duong, becoming the largest foreign-invested project in the locality this year.
The $1-billion plant is designed to churn out one million tons of industrial paper and 50,000 tons of household paper annually.