[Round-up] John Kerry in Hanoi, Vietnam - China Ink 15 Deals

Tuan Minh

17:38 13/01/2017

BizLIVE - U.S. Secretary of State John Kerry on Friday meet with Vietnamese Prime Minister Nguyen Xuan Phuc and acting Foreign Minister Bui Thanh Son. Vietnam and China on January 12 signed 15 cooperation agreements in various fields.

[Round-up] John Kerry in Hanoi, Vietnam - China Ink 15 Deals

U.S. Secretary of State John Kerry on Friday meet with Vietnamese Prime Minister Nguyen Xuan Phuc and acting Foreign Minister Bui Thanh Son.

John Kerry Meets with Vietnam PM
U.S. Secretary of State John Kerry on Friday morning had a meeting with Vietnamese Prime Minister Nguyen Xuan Phuc during his last trip as the top diplomat for the United States.
During the meeting, PM Nguyen Xuan Phuc called for further joint efforts to keep the momentum of the bilateral relationship under the new U.S. administration, and expand cooperation to other fields.
Later on the same day, Kerry left for Ho Chi Minh City to meet a group of Vietnamese youth and is scheduled Saturday to tour the Mekong delta province of Ca Mau, where he fought during the Vietnam War almost 50 years ago.
VinaCapital Sees VN Index Rising 17% in 2017
Vietnam’s benchmark VN Index will rise as much as 17% this year as an expanding economy and the sale of stakes in state-owned businesses lure investors, said VinaCapital, largest fund management firm in the country. That would follow a 15% climb in 2016.
“The macro situation looks very favorable,” said Alan Pham, Ho Chi Minh City-based chief economist of VinaCapital Group. He expects Vietnam’s economy to expand 6.5% in 2017, up from 6.2% last year.
AIIB Eyes Infrastructure Development in Vietnam
The Asian Infrastructure Investment Bank (AIIB) wants to invest in infrastructure development, particularly railways, highways and seaports, in Vietnam, AIIB President Jin Liqun on January 13 told Party General Secretary Nguyen Phu Trong, who is in a visit to China.
Acknowledging the contribution of Vietnam to the establishment of the AIIB, he noted that the construction of transport infrastructure in the country will help develop links with other ASEAN member countries, the Vietnam News Agency (VNA) reported.
Vietnam, China Ink 15 Cooperation Agreements on Diverse Areas
Vietnam and China on January 12 signed 15 cooperation agreements in various fields from economy, transportation and defense to health care, tourism and training, on the occasion of Party General Secretary Nguyen Phu Trong’s ongoing visit to China.
They include a document on technical assistance in making planning for the Lao Cai-Hanoi-Hai Phong railway, a joint vision statement on defense cooperation between the two defense ministries to 2025, and a framework agreement on land border gate cooperation between the Vietnam’s Defense Ministry and the China General Administration of Customs.
India’s TATA Group to Expand Investment in Vietnam
India’s TATA Group has already planned to invest in a wide range of business sectors in Vietnam, said Indronil Sengupta, executive director of the conglomerate in Vietnam, told President Tran Dai Quang at a meeting in Hanoi on January 12.
Indronil Sengupta said the future investment will target solar- and wind-power projects, a coffee processing plant in Binh Duong, the installation of agricultural machinery to serve demand in the Mekong Delta, and a project to import and assembly TATA light trucks.
Southern Dong Nai Province Moves to Woo Major Investors
The southern province of Dong Nai is stepping up investment-trade-service promotion activities to attract more foreign investments from major markets like Japan, the EU, South Korea and Taiwan, VNA reported, citing the provincial Department of Investment and Planning.
The province attracted nearly $1.92 billion in committed foreign investment in 2016, 92% higher than the annual target.
Vietnam’s gross domestic product (GDP) is likely to expand 6.6% this year, compared to 6.21% in 2016, with strong manufacturing growth and increased construction activity likely to remain the key growth drivers, Standard Chartered Bank (StanChart) said at a briefing held in Ho Chi Minh City on Jan. 13.
Malware caused losses worth 10.4 trillion dong ($460 million) to computer users in Vietnam in 2016, higher than $385 million in 2015, according to a report by Internet security company Bkav Corp.
Beer production in Vietnam reached 3.79 billion liters in 2016, representing a year-on-year increase of 9.3%, making the country one of the largest beer markets in the world, according to a report by the Ministry of Industry and Trade.
The output translates into 42 liters per capita, four liters higher than the figure recorded for 2015.
The good momentum of Vietnam’s real estate market is likely to continue into 2017 across all segments given a brighter outlook of the country’s economy, JLL has said in a note.
For 2017, both the Vietnamese government and the World Bank expect the local economy to grow faster than in 2016, based on expectations regarding the continued growth in manufacturing and services sectors, and the recovery of the agriculture sectors amid the a reasonably promising outlook for the international economic situation.

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