U.S. Launches First WECREATE in Hanoi
U.S. Ambassador Ted Osius
, the Vietnamese Ministry of Planning and Investment, Vietnam Chamber of Commerce and Industry (VCCI), and Vietnam Women Union on Friday inaugurated Vietnam’s first Women’s Entrepreneurial Center of Resources, Education, Access, and Training for Economic Empowerment (WECREATE).
WECREATE center will serve as an entrepreneurial community center for women interested in starting or expanding an existing business.
Asahi, Kirin Keen on Sabeco Shares
Japan’s Asahi Group Holdings and Kirin Holdings are considering bidding for shares of Vietnamese state-owned brewer Saigon Beer Alcohol Beverage, in an auction that could come as soon as next month, according to the Nikkei Asian Review.
The Vietnamese government holds an 89.6% interest in Sabeco, as well as 82% of Hanoi Beer Alcohol Beverage, or Habeco. Together, the two breweries control roughly 60% of the country's beer market.
Singapore-based Arcstone Marks its Overseas Foray with Venture into Vietnam
Having already established a wide-ranging customer base in Singapore, Arcstone Inc., which provides data analytics-based solution systems for the manufacturing and industrial sector, is venturing into three new markets.
The three-year-old startup will set up its first overseas office in Vietnam next month, and has already begun exploring the Indonesian and Chinese markets, according to Founder Willson Deng.
Russia’s Inter RAO, PetroVietnam Ejected from $4.1 Billion Power Project
The government of Vietnam has decided to terminate deals with Russian power giant Inter RAO and state-owned energy utility PetroVietnam, as it races to complete a $4.1 billion coal-fired power station to meet rising energy demand.
The government will now replace both with another state-owned entity, Vietnam Electricity (EVN), with a view to completing the plant before 2029.
4 Vietnam Telcos Win 4G License
GTel Mobile has become Vietnam's fourth 4G licensee, joining MobiFone, Viettel and VNPT in securing a license.
As with the major operators, GTel Mobile, owned by Vietnam's Global Telecommunications Corporation (GTC), has secured permission to deploy 4G services on the 1800-MHz band.
Vietnam Treasures Ties with China: Politburo Member
The Party and State of Vietnam always treasure the friendly neighborliness and comprehensive strategic cooperative partnership with the Party and State of China, Politburo member and standing member of the Party Central Committee Secretariat Dinh The Huynh stated.
He added that that is based on the country’s foreign policy of peace, independence, self-reliance, diversification and multilateralization of relations, and intensive international integration while meeting Party General Secretary and President of China Xi Jinping in Beijing on October 20 as part of his three-day visit to the country.
Japan Appoints New Ambassador to Vietnam
Umeda Kunio was appointed as Japan’s new ambassador to Vietnam at a cabinet meeting on October 21, replacing Fukada Hiroshi, who finished his term of office in the Southeast Asian country in September this year.
Umeda Kunio, 62, graduate of Kyoto University’s Faculty of Law, served as chief of the Asian Division and Head of the International Cooperation Bureau under the Ministry of Foreign Affairs.
About 5,000 Tariff Lines Removed under Vietnam-EAEU FTA
About 5,000 tariff lines will be cut to zero after the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) took effect on October 5, 2016, in accordance with a government decision and the Vietnam special import list 2016-2018
The tax cuts will be implemented in three phases from now to the end of 2018, the Vietnam News Agency (VNA) reported.
Vietnam Borrows $4.9 Billion in ODA, Preferential Loans in Jan-Sep
Vietnam signed agreements to borrow $4.92 billion in official development assistance and preferential loans in the first nine months of this year, up 80% from a year earlier, while ODA disbursement stood at $2.68 billion, down 19.6% year-on-year, according to the Ministry of Planning and Investment.
French Ambassador to Vietnam Bertrand Lortholary, who took office on September 12 this year, has announced that he will focus on four fields during his term to further strengthen the France-Vietnam relationship.
The four prioritized fields will be economic ties, military cooperation, fight against climate change, and promoting the French image to the Vietnamese youth.
Vietnam will need 10,567 trillion dong (roughly $480 billion), more than twice its annual gross domestic product (GDP), for the overall economic restructuring from now to 2020, Minister of Planning and Investment Nguyen Chi Dung has said.
In a report at the opening of a month-long plenary session of the National Assembly, the country’s parliament, on October 20, Minister Dung did not specify the sources of the needed capital.
Fast Moving Consumer Goods (FMCG) manufacturers should look to highly potential rural areas in Vietnam to ensure continued growth, Nielsen Vietnam has said in its Quarterly Market Pulse report.
“It’s time to get out of the comfort zone which is the six key cities. To fully seize the market growth opportunities and drive a profitable business, it’s rural area – the unknown yet potential land for manufacturers to tap on,” said Nguyen Anh Dung, director of Retail Measurement Services at Nielsen Vietnam.