[Round-up] Vietnam Encourages RoK High-Tech Investments, Pledges Support to Ontario Businesses

Tuan Minh

07:18 07/12/2017

BizLIVE - The Vietnamese government encourages enterprises from the Republic of Korea to further investments in high-tech industries like support industry, IT, energy and high-quality agriculture. PM Nguyen Xuan Phuc committed all possible support to Canada’s Ontario firms to do business in Vietnam.

[Round-up] Vietnam Encourages RoK High-Tech Investments, Pledges Support to Ontario Businesses

Prime Minister Nguyen Xuan Phuc (R) and Premier of Ontario Kathleen Wynne. Photo: VNA

PM Promises Optimal Conditions to Korean Investors
The Vietnamese government always supports and creates favorable conditions for domestic and foreign investors, including those from the Republic of Korea (RoK), to expand business operations in the country, said Prime Minister Nguyen Xuan Phuc at a reception for Chang Dae-whan, chairman of the RoK-based Maekyung Media Group, in Hanoi on December 5.
The PM said Vietnam wants RoK groups to develop manufacturing hubs in different fields such as electronics and auto components in the country, adding that investors must ensure environmental standards, the Vietnam News Agency (VNA) reported.
PM Receives Chairman of CJ Corporation
Vietnam always welcomes and creates favorable conditions for foreign investors, including those from the RoK, Prime Minister Nguyen Xuan Phuc assured Chairman of the RoK-based CJ Corporation Sohn Kyung-shik during a reception in Hanoi on December 6.
He lauded CJ Corporation for investing in many fields in Vietnam, including food production research, logistics and film production for export, while asking the company to assist Vietnam in developing organic agriculture, according to VNA.
Vietnam Encourages RoK High-Tech Investments
The Vietnamese government encourages enterprises from the Republic of Korea to further investments in high-tech industries like support industry, IT, energy and high-quality agriculture.
Deputy Prime Minister Trinh Dinh Dung made the appeal at the first-ever Maekyung Korea-Vietnam Forum held in Hanoi on December 6 as part of activities to celebrate the 25th anniversary of Vietnam-RoK diplomatic ties.
Prime Minister Commits Support to Ontario Businesses
Prime Minister Nguyen Xuan Phuc committed all possible support to Canada’s Ontario firms to do business in Vietnam during a reception in Hanoi on December 6 for Premier of Ontario Kathleen Wynne.
He said the agreement by relevant countries to continue with negotiation on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will lay a foundation for Vietnam and Canada to boost all-around ties, including in trade.
Vietnam, UK Seek to Boost Trade Ties
The UK always considers Vietnam as its important and potential trade partner and wants to expand multifaceted cooperation with the Southeast Asian nation, said British Secretary of State for International Trade Liam Fox.
At a meeting with Vietnamese Minister of Industry and Trade Tran Tuan Anh, who paid a working visit to the UK from December 4-5, Fox reasserted the British government’s commitment to further boosting trade ties with Vietnam.
Vietnam Needs Urgent Technical Training to Prepare for Industrial Revolution 4.0: PM
The fourth industrial revolution offer chances for Vietnam to thrive in its labor-dependent economy, but workers still require further technical training, Prime Minister Nguyen Xuan Phuc has said.
Vietnam needs to develop a comprehensive information technology system to serve a digital economy, Phuc said at the Smart Industry World 2017 conference in Hanoi on Tuesday, attended by government officials and local and international experts.
More Than 200 Audits to Be Conducted in 2018
More than 200 audits will be conducted in 2018, focusing on State budget use, according to a plan from the State Audit Office of Vietnam (SAV).
As many as 50 audits will be conducted on investment projects, including metro line 1 – Ben Thanh-Suoi Tien section in Ho Chi Minh City, Ben Luc-Long Thanh expressway, Cat Linh-Ha Dong urban railway in Hanoi, Lai Chau hydroelectric plant, Duong Noi new urban area in Hanoi and Quang Ninh airport.
Forum Talks Future of Retail Banking in Industry 4.0
The trend of cashless payment and digitalization in personal banking services is generating major opportunities and challenges to banks, especially amid Industry 4.0, according to a 2017 report on banking services compiled by IDG Vietnam Co. Ltd.
The information was highlighted at the Retail Banking Forum in Hanoi on December 6. The forum on the future of retail banking and payment services in the Industry 4.0 era was part of a series of workshops and events on smart city building.
Vietnam Expo 2017 Kicks off in HCM City
The 15th Vietnam International Trade Fair (Vietnam Expo 2017) opened at the Saigon Exhibition and Convention Center in Ho Chi Minh City on December 6.
Speaking at the opening ceremony, Nguyen Van Nga, head of the South Agency of the Ministry of Industry and Trade said that Vietnam Expo is among the largest trade fairs held in HCM City, featuring 750 businesses from 16 countries and territories, including India, the RoK, Indonesia, Malaysia, the U.S., Germany and China.
Conference Seeks to Lure Chinese Investments in Vietnam
The Bank of China in Ho Chi Minh City and China’s Shenzhen Stock Exchange held a conference in HCM City on December 5, aiming to seek cooperation with Vietnamese securities companies to lure Chinese investment to Vietnam.
Speaking at the conference, a representative from the Vietnamese Ministry of Planning and Investment said Vietnam is exceptional among major markets in Southeast Asia.
Can Tho City Puts Focus on Solar Power
The Mekong Delta city of Can Tho is keen on exploiting its renewable energy potential and will provide investors with tax and credit incentives, especially for solar power projects.
Vo Thi Hong Anh, Vice Chairwoman of the Can Tho People’s Committee, told the Vietnam News Agency that the city has a lot of potential for developing solar energy.
The State Treasure of Vietnam raised 157.347 trillion dong ($6.93 billion) from selling government-bonds year to November 22, meeting 86% of the year’s plan, according to a report by the National Financial Supervisory Commission.
A sharp decrease in the number of imported cars into Vietnam has been recorded in recent months, from nearly 3,700 units in August to 878 units in October, customs data shows.
From January 1, 2018, the import duties on autos and many other commodities from the Association of Southeast Asian Nations (ASEAN) will be cut to zero percent in Vietnam. Many local importing firms seem to partially halt their imports at the moment to await the tax reduction, said an official.

TUAN MINH

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