[Round-up] U.S. Unveils Agenda of Obama’s Visit to Vietnam, Premier Pledges Support for Russian Investors

Tuan Minh

18:51 19/05/2016

BizLIVE - U.S. officials have unveiled the official schedule of President Obama’s visit to Vietnam. PM Nguyen Xuan Phuc pledged support for Russian investors in the country.

[Round-up] U.S. Unveils Agenda of Obama’s Visit to Vietnam, Premier Pledges Support for Russian Investors

U.S. President will start his visit to Vietnam on May 23. (Photo: www.scmp.com)

German Agency Supports Vietnam Wind Power Development
The German Agency for International Cooperation (GIZ) will provide financial support for three projects that study wind power in Vietnam, with each project eligible to receive up to 100,000 euros, according to local media.
GIZ is carrying out a $6.7-million-euro project that provides technical assistance for the Vietnamese government in tapping wind power.
Foreign Businesses Seek Investment Opportunities in Thanh Hoa
A group of foreign investors, led by Prince Abdul Qawi of Brunei, met with authorities in the central province of Thanh Hoa on May 18, looking for investment opportunities, according to Vietnam News Agency (VNA).
The investors wanted favorable conditions for operations in renewable energy and oil refinery and showed interest in local Nghi Son deep-water port, said the prince.
Vietnam Firm Proposes Upgrade of Cam Ranh Airport
Cam Ranh International Terminal JSC has submitted to the Ministry of Transport a study on the construction of an international terminal at the Cam Ranh International Airport in the central province of Khanh Hoa, reported VNA.
The project, with a total investment capital of nearly 3.4 trillion dong ($152 million), was designed to receive four million passengers per year. The capacity would be increased to six million passengers in 2030 to meet the increase in passengers to the province.
Vietnam Premier Pledges Full Support for Russian Investors
Vietnam continually provides all possible support for Russian investors and Russia also facilitates Vietnamese investment in the country, Prime Minister Nguyen Xuan Phuc said at a business forum in Moscow on May 18.
The prime minister asked Vietnamese and Russian firms to raise two-way trade to $10 billion by 2020.
Vietnam Pledges Equal Treatment to Overseas Investors: Deputy PM
Vietnam offers equal treatment and a favorable business climate for all overseas investors in the country, VNA quoted Deputy Prime Minister Trinh Dinh Dung as saying at a meeting with a group of foreign investors led by Prince Abdul Qawi of Brunei in Hanoi on May 18.
Vietnam’s investment law and policies have been improved to open the door wider to foreign investment in all fields, he noted.
JICA Helps Boost PPP Project Implementation in Vietnam
Yasuo Fujita, chief representative of the Japan International Cooperation Agency (JICA) in Vietnam, has proposed several measures to help the Vietnamese Government use official development assistance for public-private partnership (PPP) projects, according to VNA.
At his meeting with Deputy Prime Minister Trinh Dinh Dung in Hanoi on May 18, he pledged to do his utmost to intensify the two countries’ relations and share with the host specific mechanisms to boost the public-private partnership, particularly in infrastructure building.
U.S. Unveils Information on Obama’s Visit to Vietnam
Daniel Kritenbrink, Senior Director for Asian Affairs under the National Security Council, announced Obama’s official schedule, including meetings with Vietnamese leaders.
Their discussions will focus on measures to advance the U.S.-Vietnam comprehensive partnership across a wide range of areas such as trade, people-to-people, security, human rights, and global and regional issues of mutual concerns, he noted.
Siam Commercial Bank (SCB), Thailand’s third largest bank by assets, is aiming to provide 25% of loans for Thai businesses investing in Vietnam by 2018, along with a 10% share of Vietnam-Thai trade volume by 2020, Bangkok Post reported.
The bank, which has launched its Ho Chi Minh City branch, will focus on both Thai and Vietnamese corporate customers before moving to the retail banking sector in Vietnam, said Chairman Anand Panyarachun.  
Vietnamese consumer confidence index (CCI) increased one percentage from the previous quarter to reach 109 in the first quarter of this year, helping Vietnam become the fifth most optimistic country globally, according to Nielsen, a global information and measurement company.
“Vietnam CCI continues to maintaining at a high level despite a moderate market growth. What we are seeing here is not reflected in the performance of the market but rather the future hopes and sentiments of the Vietnamese consumers,” said Nguyen Huong Quynh, managing director of Nielsen Vietnam.
TH Group, among the largest dairy producers in Vietnam, on Wednesday started building farms in Volokolamsk village, Moscow, as part of a 10-year project with an investment of $2.7 billion.
This is the first dairy project to be carried out by a Vietnamese firm in Russia and Vietnam’s largest investment in the Europe country so far, the Vietnamese government said on its website.
Thai industrial estate developer Amata VN Pcl plans to disburse up to $200 million this year for two industrial park projects in Vietnam, which has seen a strong influx of foreign direct investment, Reuters reported.  
The amount will be spent on two sites namely Amata City Bien Hoa, its first project in Vietnam, and a hi-tech industrial part named Amata City Long Thanh in the southern province of Dong Nai.
Vietnam’s general government gross debt (GGGD) is predicted to rise to 53.7% of GDP in 2016 and rise over the medium-term without a tightening of fiscal policy settings, Fitch Ratings has said in a press release.  
The country’s GGGD continued to rise in 2015 to an estimated 51.1% of GDP, up from 47.3% in 2014, and higher than the ‘BB’ median of 43.6%.