[Round-up] Japan PM Affirms More Support, Vietnam Emerges as FDI Magnet

Tuan Minh

18:20 08/09/2016

BizLIVE - Japanese PM Shinzo Abe has affirmed Japan will continue to help Vietnam achieve sustainable development and provide ODA for Vietnam. Together with Cambodia, Laos and Myanmar, Vietnam has surged as an FDI magnet in Southeast Asia.

[Round-up] Japan PM Affirms More Support, Vietnam Emerges as FDI Magnet

Japanese PM Shinzo Abe has affirmed Japan will continue to help Vietnam achieve sustainable development and provide ODA for Vietnam.

Vietnam PM Attends 8th Mekong-Japan Summit
Vietnam pledges continued efforts to foster the Mekong-Japan cooperation for the sustainable development, peace, stability and prosperity in the region, Prime Minister Nguyen Xuan Phuc said at the 8th Mekong-Japan Summit in Vientiane, Laos on September 7.
He suggested the Japanese government assist the Mekong countries in building new roads along economic corridors, especially the Vientiane-Hanoi Expressway, which will be an important trade route not only connecting the two capital cities of Vietnam and Laos but also creating a new connectivity corridor.
Japan PM Pledges Continued Support for Vietnam
Japan will continue to help Vietnam achieve sustainable development and provide official development assistance (ODA) for Vietnam, including a project on climate change adaptation and another on infrastructure at Hoa Lac Hi-tech Park, Japanese PM Shinzo Abe affirmed.
At a meeting with Vietnamese counterpart Nguyen Xuan Phuc on the sidelines of the 28th & 29th ASEAN Summits in Laos on September 7, Mr. Abe also pledged to encourage Japanese hi-tech firms to invest in Vietnam.
IFAD Continues to Back Vietnam in Agricultural Development
Vietnam Farmer’s Union (VFU) and the International Fund for Agricultural Development (IFAD) signed a cooperation agreement for the 2016-2020 period in Hanoi on September 7, according to the Vietnam News Agency (VNA).
At the signing ceremony, VFU Chairman Lai Xuan Mon said the second phase 2016-2020 of the agreement will create a driving force for agricultural staffs and farmers, helping to increase competitiveness in the context of integration.
Vietnam Discusses IDA “Graduation” with WB
Vietnam’s Minister of Planning and Investment Nguyen Chi Dung discussed with World Bank senior officials the preparations for Vietnam’s “graduation” from IDA capital sources during his visit to the U.S. beginning September 6, VNA reported.
The Minister appreciated the WB’s provision of international development assistance (IDA) and policy assistance for Vietnam, noting that though Vietnam has become a lower middle-income country and will stop receiving IDA soon, the nation still needs more of WB’s capital for development.
Vietnam, Mexico Forge Practical, Effective Cooperation
The Foreign Ministries of Vietnam and Mexico agreed to take measures to boost the bilateral cooperation between the two nations in an intensive, practical and effective manner.
During the fourth political consultation at deputy foreign ministerial level in Hanoi on September 7, the two sides agreed to enhance delegation exchanges and contacts at high levels as well as between ministries, localities and enterprises.
Vietnam Lending Grows 9.09% from End-2015: C.Bank
Total outstanding loans in the Vietnamese banking system as of August 23 expanded 9.09% from the end of 2015, most of them poured into production and priority fields set by the government, said the State Bank of Vietnam.
Lending for agriculture and rural development was estimated at nearly 900 trillion dong ($40.3 billion) as of August, up 6.64% from late 2015, accounting for nearly 18% of the total outstanding loans of the economy.
Hanoi Hosts 3rd Vietnam Top Publisher Summit 2016
The Vietnam Top Publishers Summit 2016 opened in Hanoi on September 7, drawing more than 100 delegates who are leaders and chief editors of 100 leading electronic newspapers and websites, as well as and major website publishers and mobile application developers in Vietnam.
The event, the third of its kind in 2016, aims to enhance the advertisement values of websites in Vietnam through the setting up of a website owners’ alliance to create high-quality products, according to VNA.
HCM City Hosts Conference on Vietnam-Japan Potential
There is huge potential for Vietnamese and Japanese firms to cooperate in many areas, including use of information and communication technologies in agriculture and food processing, participants said at a conference in HCM City on September 6.
With their ICT expertise, Japanese firms can join hands with Vietnamese firms to create a food value chain from production to consumption, yielding products of high quality and ensuring traceability, said Kondo Boboru, CEO of Brain Works Group.
Together with Cambodia, Laos and Myanmar, Vietnam has surged as a foreign direct investment (FDI) magnet in Southeast Asia when FDI flows into the four countries soared 38% last year, according to the ASEAN Investment Report 2016.
Vietnam led the CLMV bloc, taking in $11.8 billion worth of investment, a 28% increase. Myanmar followed with $2.8 billion, representing a whopping 211% increase. FDI in Laos grew 71% to $1.2 billion. FDI in Cambodia remained flat at $1.7 billion.
Becamex ITC, a subsidiary of real estate developer Investment and Industrial Development Corporation (Becamex IDC), has asked for permission to invest in a software park at a cost of 24 trillion dong ($1.07 billion) in Hanoi, local media reported.
The hi-tech zone, which will specialize in software development and digital content, will be built on an area of 70.8 hectares along Vo Nguyen Giap Road, which leads to the Noi Bai International Airport.
The Vietnamese government plans to let its first oil refinery go public by June next year while four leading global energy firms have advanced interest in acquiring a majority stake, Reuters reported.
The initial public offering (IPO) is part of BSR’s plan to expand the refinery’s processing capacity, which stands at 6.5 million tons of crude oil per year.

TUAN MINH

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