Vietnam Treasures Strategic Partnership with Singapore: President
President Tran Dai Quang
has affirmed to Singaporean President Tony Tan Keng Yam that Vietnam sticks to its policy of treasuring and fostering the strategic partnership with Singapore to make the ties more trustworthy and effective.
The two sides also agreed to foster affiliation in different areas, such as defence, security, education, tourism, culture, and people-to-people exchange.
EU Helps Vietnam Improve Economic Governance
The EU’s support programs will help Vietnam with the reform of healthcare sector and capacity improvement, the fight against tax evasion and illegal financial flows, and dealing with existing flaws in public spending, procurement and debt management, according to a working session on August 29.
The EU will offer technical support in public finance management, tax policy and administrative reform, debt management, and business governance in state-owned enterprises and banks, the Vietnam News Agency (VNA) reported.
Vietnam Always Welcomes Singaporean Investors: President
Vietnam always welcomes Singaporean investors and believes in their success in doing business in the country, President Tran Dai Quang told the Singapore-Vietnam business forum in Singapore on August 29.
He affirmed that Vietnam is committed to creating a transparent and fair business environment in line with international practices, especially for foreign investors, including those from Singapore.
Workshop Facilitates Vietnamese Firms’ Access to EAEU Market
Vietnamese firms have a chance to enter consumption markets of five nations with over 180 million people and the GDP exceeding $2.5 trillion in the Eurasian Economic Union (EAEU) thanks to the Vietnam – EAEU free trade agreement, said Vietnamese Ambassador to Russia Nguyen Thanh Son at a workshop in Ho Chi Minh City on August 29.
According to Son, the EAEU has committed to tax cut to zero percent on over 90% of tariff lines, which presents a great opportunity for Vietnamese products, especially farm produce, garment-textiles, footwear, wood and processing products, VNA reported.
Russia to Export Pork to Vietnam in 2017
Rusagro, one of the largest agricultural groups in Russia, plans to sell pork to Vietnam in 2017, according to Sputnik radio.
General Director of the group Maxim Basov said Vietnam has issued a license to allow Russian pork imports to the country while Russia is preparing for an export license. Therefore, shipments are expected to start next year.
President Encourages Brunei Firms to Invest in Vietnam
Vietnam encourages Brunei businesses to invest in the fields of its strength such as energy, oil and gas, finance, real estate, tourism and infrastructure development, President Tran Dai Quang stated at a business forum in Bandar Seri Begawan on August 28.
There is a plenty of room for the two countries to embrace trade links, he said, adding that Vietnam hopes to export more farm produce, seafood, electronics and consumer products to Brunei while importing petrochemical products from the market.
GIC, Singapore’s state-run sovereign wealth fund, and Bank for Foreign Trade of Vietnam (Vietcombank) announced today that both parties have signed a memorandum of understanding for GIC to buy a 7.73% stake on a fully enlarged basis in the latter.
Under the agreement, GIC will purchase 305.81 million new shares in Vietcombank, Vietnam’s largest bank by market capitalization. GIC’s investment is part of Vietcombank’s private placement of 359.78 million new shares.
in July acquired Carlsberg Vietnam Brewery-Vung Tau in the southern Vietnamese port city to increase its capacity and take cash in on the local booming beer market, Bloomberg reported.
The Dutch beverage giant has identified Vietnam as the next key driver for its growing Asia-Pacific business, as it becomes more difficult to squeeze profits from Africa, the Middle East and parts of Europe.
Vietnam’s public debt swelled by 17.1% year-on-year to 2,284.88 trillion dong ($103 billion) at end-2014, equivalent to 58.02% of the country’s GDP, up from 54.2% of GDP in 2013, according to the State Audit Office of Vietnam.
Food & Beverage (F&B) and Retail continued to be the two most attractive sectors to private equity (PE) investors in Vietnam, a survey by Grant Thornton
“These industries benefit from Vietnam’s robust growth in consumption, which is not only thanks to population growth but also in terms of rising income,” says the survey.