[Round-up] PM Calls for More Japanese Investment; Vietnam - Russia Deepen Economic Ties

Tuan Minh

18:06 15/11/2016

BizLIVE - PM Nguyen Xuan Phuc has called on Japan’s Mie prefecture to invest in the industries it has advantages in Vietnam. Two deputy prime ministers of Vietnam and Russia have discussed measures to boost economic-trade cooperation between the two countries.

[Round-up] PM Calls for More Japanese Investment; Vietnam - Russia Deepen Economic Ties

PM Nguyen Xuan Phuc has called on Japan’s Mie prefecture to invest in the industries it has advantages in Vietnam.

PM Calls for Japanese Prefecture’s More Investment in Vietnam
Prime Minister Nguyen Xuan Phuc met with Governor of Japan’s Mie prefecture Eikei Suzuki on November 14, saying he wants Mie to invest in the industries it has advantages in such as cargo machinery, electronics and chemical production in Vietnam.
At the meeting in Hanoi, the PM noted the strong and substantive development of the Vietnam-Japan extensive strategic partnership, adding the enhancement of locality-to-locality cooperation is critical to bilateral ties, the Vietnam News Agency (VNA) reported.
Vietnam, Russia Deepen Economic Partnership
Vietnam’s Deputy Prime Minister Trinh Dinh Dung and Russia’s First Deputy Prime Minister Igor Shuvalov have discussed measures to boost economic-trade cooperation between the two countries during their recent talks in Moscow.
The two sides agreed to help energy companies improve their joint ventures’ operational efficiency, and explore investment collaboration in new projects, both in Vietnam and Russia, according to VNA.
Japanese Prefecture Keen to Boost Industry with Vietnam
Industrial firms from Japan’s Oita prefecture expressed their wish to cooperate with Vietnamese businesses at a seminar to promote Vietnam-Japan trade in HCM City on November 14, according to VNA.
Chairman of the Oita Chamber of Commerce and Industry Kiyotaka Himeno said Vietnam is a developing country with many potential free trade deals. Vietnam boasts an abundant and young workforce but it needs high quality workers. Therefore, Japanese businesses hope to strengthen human resources cooperation.
HCM City Bolsters Cooperation with Toronto
At a meeting with Vice Mayor of Toronto Denzil Minnan Wong on Nov. 14, Vice Chairman of the HCM City People’s Committee Tran Vinh Tuyen affirmed that the city wants to cooperate with Toronto’s authorities and businesses in the fields of its concern such as environmental pollution, flooding and traffic congestion.
Tuyen stressed HCM City is willing to create favorable conditions for Toronto firms’ operation and investment in the city, especially those applied advanced technology.
Italian Region to Promote Investment in Binh Duong Province
The southern province of Binh Duong on November 14 signed a MoU with the trade association of Italy’s Emilia-Romagna region and the Italy-Vietnam trade association.
Under the MoU, the two sides will work together to promote trade and investment ties between Vietnamese and Italian enterprises. Italian enterprises will receive help to invest in the Vietnamese province and Binh Duong’s enterprises will be assisted to promote its products in the Italian market.
Starbucks to Open New Stores in Vietnam
US beverage company Starbucks Vietnam recently announced that it will open two stores this month in Hanoi and HCM City, bringing its total in the country to 23.
Customs Sector Prioritizes Trade Facilitation
The customs sector has identified implementing the Trade Facilitation Agreement of the World Trade Organization as a priority in the Asia-Pacific Economic Cooperation (APEC) Year 2017.
The Vietnam Customs and the U.S. Agency for International Development (USAID) organized a workshop in Hanoi on November 14 to prepare for Vietnam’s hosting of the APEC forum next year.
Up to 35 international investors and 17 domestic companies have contacted with the central bank-run Vietnam Asset Management Company (VAMC) to purchase non-performing loans (NPLs), VAMC Chairman Nguyen Quoc Hung has said.
VAMC has signed confidentiality agreements with thirteen foreign companies including the International Finance Corporation (IFC), Standard Chartered Bank, Jadara Capital, Seven Seas Holding, Blackriver Asset Management, GIC, Yamaichi Securities, and VinaCapital.
The U.S. dollar has been strengthening against the Vietnam dong both on the official and unofficial markets after the U.S. presidential election result was announced on November 9.
The State Bank of Vietnam fixed the mid-point USD/VND exchange rate at 22,086 on Tuesday, up 19 dong from a day earlier. This is the highest rate since the new fixing mechanism was launched in January this year.
Newly-appointed Canadian Ambassador to Vietnam Pink Kitnikone talked to BizLIVE about her priorities, the bilateral relationship and Canadian enterprises’ interest in the Southeast Asian country.
Sabeco, the largest brewer in Vietnam, is poised to debut its shares on the Ho Chi Minh Stock Exchange on December 12, as part of the government’s efforts to sell its holdings in brewery assets, according to a government official.
“The consultant firm advising the listing has prepared that Sabeco will make its share debut on December 12,” Phan Dang Tuat, head of the Ministry of Industry and Trade’s Enterprise Renovation And Development Committee, told Reuters.

TUAN MINH