[Round-up] Vietnam Hopes for Revised TPP, China President to Attend APEC

Tuan Minh

21:50 03/11/2017

BizLIVE - Vietnam is hoping leaders of the remaining 11 member countries of the TPP may be able to discuss next week a revised deal following the U.S.’s withdrawal. Chinese President Xi Jinping will attend and deliver a keynote speech at the 2017 APEC Economic Leaders' Meeting in Da Nang next week.

[Round-up] Vietnam Hopes for Revised TPP, China President to Attend APEC

Vietnam is hoping leaders of the remaining 11 member countries of the TPP may be able to discuss next week a revised deal following the U.S.’s withdrawal.

Vietnam Hoping for Revised Pacific Rim Trade Pact: Official
Vietnam is hoping leaders of the remaining 11 member countries of a Pacific Rim trade pact, the Trans-Pacific Partnership, may be able to discuss next week a revised deal following the U.S.’s withdrawal, AP reported, citing a senior official Thursday.
Deputy Foreign Minister Bui Thanh Son said he hoped talks held in Japan this week will have narrowed differences enough to allow trade ministers and leaders to endorse an amended TPP agreement during the Asia Economic Cooperation forum, whose annual regional summit will be held in Da Nang, Vietnam, next week.
Xi Jinping to Attend APEC Vietnam 2017
Chinese President Xi Jinping will attend and deliver a keynote speech at the 2017 APEC (Asia Pacific Economic Cooperation) Economic Leaders' Meeting in Da Nang, Vietnam, a Chinese Foreign Ministry spokesperson said on Friday morning.
Lu Kang announced that the president would travel to summit, being held from November 10 to 11, before paying state visits to Vietnam and Laos.
Chinese Foreign Minister on Visit to Vietnam
Chinese Foreign Minister Wang Yi is paying an official visit to Vietnam from Thursday to Friday, Chinese Foreign Ministry spokesperson Hua Chunying said on Thursday morning.
Wang has been set to hold talks with Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh, and will meet the leaders of Vietnam. They will exchange views on scheduled high-level visits, bilateral ties, and global and regional issues of common concern, Hua said.
PM Urges More Optimal Support to Businesses
Prime Minister Nguyen Xuan Phuc chaired the government’s monthly meeting in Hanoi on November 3, urging further support for businesses.
He PM called for tackling excessive fee collection in primary schools, delayed disbursement of basic investment capital, and other socio-cultural and environmental issues.
Customs Clearance Payments to Go Online
In the next few months, tax payments for customs clearance in Vietnam will be made available online, round-the-clock, enabling enterprises to pay tax at anytime and from anywhere, provided they have internet access, said the General Department of Customs.
The department said that it planned to expand the 24/7 online tax payment scheme to all 36 commercial banks, which signed tax collection agreements with the General Department of Customs, in November and December.
Trade Official Hopes UK and Vietnam to Reach Bilateral FTA
British Prime Minister’s Trade Envoy to Vietnam, Laos and Cambodia Edward Vaizey has expressed hope that the UK and Vietnam will reach a free trade agreement (FTA) as the UK is negotiating to leave the European Union, VNA reported.  
Vietnam and the UK boast huge potential for stronger cooperation in technology, energy, infrastructure, construction, goods production and education, said Vaizey.
Japanese Firms Expand Investment in Vietnam
Vietnam’s improving investment climate has made the country become an alluring destination for Japanese investors who commit to furthering investment in the Southeast Asian nation in the future, according to VNA.
Giant investors include Honda, Toyota, Canon, Mitsubishi, Yamaha, Sumitomo and AEON. The groups have enjoyed robust operation and business results and they are increasingly expanding investment in Vietnam.
Vietnamese Workers Face Daunting Industry 4.0 Challenges
State-owned enterprises and local businesses should pay due attention to training workers for the fourth industrial revolution (Industry 4.0) so that they are not rendered redundant, experts said.
With Industry 4.0 likely to replace people on production lines with machines to improve productivity, reduce labor costs as well as administrative cost, workers in all countries face a daunting challenge, economist Le Dang Doanh said on the sidelines of the forum held last week on cooperation between Vietnam and Japan for Asia-Pacific economic integration.
Vietnam Raises $6.88 Billion from G-bond Sales YTD
The State Treasury of Vietnam on Wednesday raised 3 trillion dong ($133.3 million) from government bond auctions, raising the total value of bond issuance to 156.2 trillion dong ($6.88 billion) since the beginning of the year.
In October, the Hanoi Stock Exchange held 15 government bond auctions, raising total 7.51 trillion dong for the State Treasury, representing a month-on-month increase of 45.5%.
The United States remained the top destination for Vietnamese goods in the ten months through October with $34.7 billion exported to that market.
The runners-up were the EU with $31.8 billion, China with $25.6 billion and ASEAN with $18 billion, according to government data.
The Vietnamese government’s shift to incentivizing more visitors to the country amidst dwindling oil production is reckoned a more sustainable policy, HSBC has said in its monthly update titled “Out with oil, in with tourism”.
Hochiminh Stock Exchange-listed FLC Faros Construction JSC (coded ROS) expects to soon beat its 2017 profit targets and will pay a dividend of 10-12% of its par value, the company’s FLC Faros General Director Do Quang Lam.
The executive noted that the accounting of revenues and profit has irregular character and depends on the implementation process. That is the reason FLC Faros is upbeat about meeting its profit targets set for 2017 ahead of the schedule although the company earned an after-tax profit of 208 billion dong ($9.15 million) in the nine months through September, compared to the whole-year plan of 580 billion dong.

TUAN MINH

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