PM’s China Visit Gives New Impetus to Bilateral Ties
Prime Minister Nguyen Xuan Phuc’s visit to China generated conditions favorable for the two countries to continue deepening their comprehensive strategic cooperative partnership and step up their economic ties in a balanced and efficient manner for their respective interests, and for peace, cooperation and development in the region and the world.
Deputy Foreign Minister Le Hoai Trung made the remarks when fielding questions raised by media outlets at the end of the PM’s tour of China on September 10-15 at the invitation of Chinese Premier Li Keqiang, the Vietnam News Agency (VNA) reported.
Vietnam Set to Launch Derivatives Market in Q1 Next Year
Vietnam may launch its first derivatives market in the first quarter of next year, officials said at a press briefing on September 15.
“The fundamental legal framework for trading derivatives has been completed, and stock exchanges will instruct investors and traders about the trading techniques,” Ta Thanh Binh, head of Market Development Department under the State Securities Commission, said.
Hanoi May Miss Major 2016 Targets
Hanoi may not be able to fulfill six out of 22 targets of this year, including four economic targets, VNA cited Deputy Head of the municipal Department of Planning and Investment Tran Ngoc Nam as saying.
Reporting to a delegation of the municipal People’s Council on September 16, he said the city’s regional gross domestic product growth in 2016 is estimated at 7.73%, lower than the set target of 8.5%-9%, and the income per capita is predicted at about 85 million dong ($3,806) compared to the target of 87 million dong.
Value of 50 Most Valuable Vietnamese Brands Hits $7.3 Billion
The value of Vietnam’s 50 most valuable brands has increased to $7.26 billion this year, compared to $5.5 billion last year, according to Brand Finance.
The top five companies, Vinamilk
Telecom, PetroVietnam Gas, MobiFone and Vinhomes, have a combined value of $3.6 billion, accounting for 47% of the 50 brands.
Vietnam, Japan Cooperate To Boost Supporting Industries
A seminar was held in Hanoi on September 16 to discuss a study on how to develop the supporting industries in Vietnam with Japan’s cooperation, according to VNA.
The research, conducted by the Central Institute for Economic Management (CIEM) and the Mitsubishi Research Institute, Inc., analyzed the current challenges encountered by the supporting industries in Vietnam and proposed cooperation policies between Vietnam and Japan in order to improve the sector.
U.S. Suspends New Vietnamese Catfish Exporter's Registration
Vietnamese businesses which have never exported Siluriformes fish (catfish) products to the United States have been asked to temporarily stop registering exports to that country.
The move follows a message sent to the National Agro, Forestry and Fisheries Quality Assurance Department by the U.S. Department of Agriculture’s Food Safety and Inspection Service, reporting a number of regulations relevant to the export of Siluriformes fish to the United States.
VASEP to Sue U.S. over Unreasonable Anti-dumping Tariff on Shrimp
The Vietnam Association of Seafood Exporters and Producers (VASEP) said that it is preparing documents to sue the U.S. Department of Commerce (DOC) over its final conclusion in the 10th administrative review (POR10) of anti-dumping duties on shrimp products imported from Vietnam.
VNA quoted VASEP as saying Vietnam does not dump shrimp in the U.S., so it will sue the DOC to ask for the tariff to be brought back to the zero level.
Kajima has been the latest Japanese company to unveil a plan to mark its presence in Vietnam’s fast-growing real estate market by forming a joint venture with Hanoi-based Indochina Capital.
The new joint venture, ICC-Kajima Development, will focus on such operations as real estate development and investment in Hanoi, Ho Chi Minh City and Da Nang. It will offer services ranging from planning and design to contracting.
LG Innotek Co. Ltd., the electronic components arm of South Korea’s LG Group, has received a license for its $550-million camera module factory in Vietnam’s northern port city of Hai Phong.
The investment of the plant far exceeds the $230 million reported by The Korea Herald in late July.
Da Nang offers plenty room for international hotel operators to increase their presence as the city has seen a boom in the tourism industry, according to a report by real estate service firm Savills Vietnam.
Da Nang is one of the twenty “cleanest cities” in the world and the “most livable city” in Viet Nam. Offering plenty of beautiful natural and cultural destinations, Da Nang is the tourist capital of central Vietnam, says the report.