Taiwan’s Formosa under Fire over Allegations of Pollution in Vietnam Mass Fish Deaths
Taiwanese conglomerate Formosa has been under attack in Vietnam's media on Monday over allegations of industrial pollution leaching from a multi-billion-dollar steel mill that may have caused mysterious mass fish deaths.
Tons of dead fish, including rare species that live far offshore and in the deep, have been washing up on beaches along the country's central coast, causing public alarm and hitting local fishermen.
IFC to Acquire 5% of in Vietnam’s TPBank
The International Finance Corporation (IFC), the private lending arm of the World Bank Group, has announced its plan to buy nearly 5% in TPBank for 403.1 billion dong ($18.3 million).
The IFC will acquire the Hanoi-based bank’s stock at 13,800 dong ($0.6) per share, higher than the bidding price of 8,900 dong each at which MobiFone has planned to divest 14.28 million shares in TPBank.
U.S. Agriculture Secretary Arrives in Vietnam for TPP Negotiations
U.S. Agriculture Secretary Tom Vilsack arrived in Vietnam on April 25 to meet with officials to discuss the details of the Trans-Pacific Partnership (TPP).
Vietnamese Prime Minister Nguyen Xuan Phuc expressed his hope that the U.S. would step up support for Vietnam in agricultural production and climate change response.
Vietnam is the United States’ 11th-largest agricultural export market, and top products include soybeans, a major Iowa crop. In 2015, the United States exported $32.3 million of beef and beef products to Vietnam, along with $168 million in dairy products, $100 million in poultry and eggs, and $3.8 million in pork and pork products.
Vietnam Conducts Tourism Road Shows in India
Vietnam’s Embassy in India has recently organized the Vietnam Tourism Promotion Road show in New Delhi and Bhubaneswar, under the theme “Vietnam – an incredible destination for Indian tourists”.
Vietnamese ambassador Ton Sinh Thanh said 70,000 Indian tourists visited Vietnam in 2015, up 27.27% year-on-year. He invited Indian tour operators, especially from New Delhi, to take initiative to promote Vietnam as a tourist destination.
New Zealand-Vietnam Tech Connections Taking Off
New Zealand’s technology links and export earnings with Vietnam will ramp up over the next year, NZTech chief executive Graeme Muller was quoted by New Zealand media as saying.
“Vietnam is one of our fastest growing markets and we already know technology is the fastest growing industry sector in New Zealand. Foreign investment in Vietnam has driven major global tech firms such as Samsung, LG Electronics, Intel, Nokia, Fuji Xerox to set up new production plants in Vietnam as opposed to China,” Muller said.
Vietnam, South Korea Trade Aimed to Reach $70 Billion in 2020
The free trade agreement (FTA) between Vietnam and South Korea would be an effective channel to increase the bilateral trade to $70 billion in 2020, said an official of the Trade Promotion Agency under the Ministry of Industry and Trade.
Vietnam PM Promises to Back Enterprises
Prime Minister Nguyen Xuan Phuc on Monday chaired the first meeting with ministerial and sector leaders in Hanoi seeking to remove obstacles to the enforcement of Laws on Enterprises and Investment.
The PM underlined the necessity to enforce the two laws with the government’s Resolution 19, dated March 12, 2015 on key duties and solutions to improve the business environment and national competitiveness in 2015-2016.
Vietnam Posts Trade Surplus of $1.47 Billion in Jan-April
Vietnam reported a trade surplus of about $1.48 billion in the first four months of this year, with foreign-invested firms recording a trade surplus of $7 billion, according to the General Statistics Office.
The country’s exports increased 6% year-on-year to $52.9 billion while it spent $51.4 billion on imports, down 1.2%.
Foreign Firms Put $145 Billion in Vietnam Industrial Parks
By the end of March this year, industrial and economic zones in the whole country attracted 6,608 projects with total registered capital of $145.5 billion, according to the Department for Economic Zones Management.
Vietnam had 305 industrial parks covering over 84,000 hectares and 16 economic zones covering 814,792 hectares of water and land as of March 2016, said the agency.
Samsung has entered negotiations with financial institutions in Vietnam, in a move to enter this highly potential mobile payment market with Samsung Pay, according to South Korean media.
The Korean tech giant earlier announced its plan to introduce its mobile payment service, which has been serviced in Korea, the United States and China since last year, in Singapore in the second half of this year.
Vietnam’s southern metropolis of Ho Chi Minh City attracted $387.1 million in foreign direct investment (FDI) in the year to April 15, representing a 52.4% year-on-year decline, data of the municipal statistics department showed.
During the period, foreign developers won approvals for 225 fresh projects with a combined capital of $222.5 million and to hike capital by $164 million in 42 projects.