During a phone call last month, Prime Minister Nguyen Xuan Phuc invited U.S. President-elect Donald Trump
to attend the APEC summit to be held in Da Nang in November 2017, said Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh said on Jan. 5.
Preparations for APEC 2017, especially those related to content and infrastructure, have been basically completed, he noted, adding that ministries, sectors and localities have worked together to prepare for the event.
John Kerry to Visit Vietnam Next Week
U.S. Secretary of State John Kerry will visit Vietnam next week, Deputy Prime Minister Pham Binh Minh told local press on Jan. 5.
The visit will help boost U.S.-Vietnam bilateral relationship under the comprehensive partnership, regardless of which party the U.S. president belongs to, Minh added.
Railway Sector Asked to Develop Sustainably in 2017
Deputy Minister of Transport Nguyen Ngoc Dong urged Vietnam Railway Corporation (VNR) to enhance transport quality and use technology in management for sustainable development in 2017.
During a conference on VNR’s production and business plan in 2017 in Hanoi on January 5, the Deputy Minister underlined efforts the railway sector made in 2016 to maintain growth, the Vietnam News Agency (VNA) reported.
Vietnam National Oil and Gas Group (PetroVietnam) strives to increase oil and gas reserves to 10-15 million tons this year, said Chairman of the Board of Directors Nguyen Quoc Khanh.
PetroVietnam expects to earn nearly 437.8 trillion dong ($19 billion) and add 74.6 trillion dong ($3.24 billion) to state coffers this year, Khanh added.
SBV Asked to Support Prioritized Sectors
Prime Minister Nguyen Xuan Phuc has directed the State Bank of Vietnam (SBV) to prioritize capital for sectors with great contributions to economic growth, export, and employment such as hi-tech agriculture, and small and medium-sized enterprises, VNA reported.
Addressing a SBV conference in Hanoi on January 5 to launch 2017 tasks, the PM asked large banks to help businesses reduce cost, while requesting commercial banks to develop preferential credit packages for hi-tech agriculture or a type of business needed support like tourism and aviation.
Credit Growth Goal Set at 18% for 2017
The State Bank of Vietnam (SBV) has set a credit growth target of 18% for this year and it pledged to continue measures to keep credit growth suitable to the country’s economic development, VNA reported.
At a recent conference to review the performance of the banking industry in 2016 and targets for 2017, SBV Deputy Governor Nguyen Thi Hong said that credit growth controlling measures are aimed to ensure the safety and efficiency of the banking sector and the economy.
SHTP Aims for $600 Million in Investments in 2017
Saigon Hi-Tech Park has set a target to attract US$600 million in investment capital this year, VNA reported.
Last year, SHTP granted investment licenses to 17 projects with total registered investment capital of $666.43 million, 2.7 times higher than its target. Six of these projects were foreign-invested and had a combined registered investment capital of nearly $335 million.
Ministry Relaxes Rice Export Regulations
Minister of Industry and Trade Tran Tuan Anh on Wednesday decided to repeal regulations on rice exports and traders as they have become hurdles in the expansion of the sector.
The ministry is expected to create a healthy market for enterprises investing in rice production and trade and to ease farmers’ difficulties, thereby helping boost high-quality rice exports.
Vietnam Ranked High for Expat Careers
Vietnam has overtaken Japan, South Korea, Thailand and Taiwan on the list of most desirable locations for expat career opportunities, according to new data released from the latest Expat Explorer survey by HSBC.
The report ranked Vietnam 28th on a global list of destinations for a successful expat career, placing the country higher than South Korea at 38th, Japan at 36th, Thailand at 34th and Taiwan at 31st.
Convenience stores are forecast to continue to upsurge in Ho Chi Minh City, Vietnam’s top economic engine, as retail sales in the country leaped 10.2% last year to reach $1180 billion, according to Jones Lang LaSalle (JLL) Vietnam.
“Convenience store is a favorable channel for both local and foreign retailers with aggressive expansion strategies to increase stores in the next quarters,” the U.S.-based real estate service firm has said in a report.
Vietnam ran an overall balance of payments (BoP) surplus of $2.98 billion in the third quarter of 2016, resulting in a surplus of $9.65 billion in the nine months through September, according to statistics of the State Bank of Vietnam.
The condominium market in Ho Chi Minh City is likely to continue expanding in 2017, buoyed by sound macroeconomic factors including positive GDP growth, a stable exchange rate and high inflow of FDI to Vietnam and especially to real estate from Korea, Japan and Singapore, according to CBRE.
A total of 43,861 units are expected to be launched in 2017, of which the high-end segment will still account for a notable proportion of the market with over 13,000 new units, said Duong Thuy Dung, director of the CBRE Research and Consulting Department.