Vietnam DPM Urges Completion of Business-related Legal Document
Vietnamese Deputy Prime Minister Trinh Dinh Dung called for coordination among ministries and sectors to reach a consensus on drafting documents concerning the revised Investment and Enterprise laws.
It is necessary to create favorable conditions for businesses and individuals to access resources to promote production and business, he stated while chairing a meeting in Hanoi on May 26.
Da Nang to Host First Start-up Fair in June
The Da Nang Start-up Fair 2016 will be held on June 18, as part of a plan to make the locality a start-up city, Ly Dinh Quan, vice director of the Entrepreneurship Support Company Ltd., the organizer of the event, was quoted by Vietnam News Agency as saying on May 26.
The fair, the first of its kind to be held in the beach city, will draw the participation of international partners, investment funds, entrepreneurs, investors, local firms, communication agencies as well as start-up businesspeople from Vietnam, Germany and Singapore, Quan said.
Vietnam Values Pan-Tonkin Gulf Economic Cooperation
Vietnam attaches importance to Pan-Tonkin Gulf economic cooperation and wants to enhance partnerships between ASEAN countries and China, Deputy Minister of Transport Nguyen Hong Truong said at the ninth Pan-Tonkin Gulf Economic Cooperation Forum on May 26.
Stronger cooperation between the ASEAN countries and China will augment bilateral trade, facilitate customs clearance and technology development, and improve production capacity. It will also help develop transport networks, educational cooperation, people-to-people exchanges, and collaboration in environmental and natural resources protection, he added.
PM Attends Vietnam-Japan Economic Policy Dialogue
Prime Minister Nguyen Xuan Phuc
on May 26 attended the Vietnam-Japan high-level economic policy dialogue in Nagoya city, Japan’s Aichi prefecture, where he affirmed that the country will focus on reforming its institutions, increasing productivity and competitiveness, and restructuring the economy.
The Vietnamese PM called on Japanese businesses to invest in six key sectors under the Vietnam-Japan industrialization development cooperation framework, infrastructure development projects, and get involved in the equitization of state-owned enterprises.
The two countries are capable of raising bilateral trade to $60 billion by 2020, he added.
Vietnam PM Asks for OECD, IMF’s Support in Economic Management
During a meeting with Secretary General of the Organization for Economic Cooperation and Development (OECD) Angel Gurria, PM Nguyen Xuan Phuc asked for further assistance for Vietnam in several areas such as improving the efficiency of using official development assistance, fine-tuning investment policy and environment, green growth and climate change response, sustainable agriculture and workforce development.
While meeting with Managing Director of the International Monetary Fund (IMF) Christine Lagarde, the PM hoped for the IMF’s continued support and policy consultation in macro-economic stabilization and economic reform in Vietnam, according to VNA.
Vietnam Industrial Production Climbs 7.5% in Five Months
Vietnam’s Index of Industrial Production increased 7.5% in the first five months of this year from a year earlier, lower than a 9.4% expansion in the same period of 2015, the General Statistics Office said in a report Friday.
The northern province of Thai Nguyen, home to two Samsung complexes, recorded a 39.9% year-on-year increase in industrial output in the five-month period, the highest industrial production growth rate among localities.
As many as 190,900 laborers in Vietnam, who graduated from higher education, could not find a job in the first quarter of 2016, up 22.8% from the previous quarter, according to the Ministry of Labor, War Invalids and Social Affairs.
The World Bank has approved an additional loan worth $119 million for an ongoing project to respond to key urban development challenges focusing on assuring water supply and wastewater needs of selected urban areas in Vietnam.
The additional financing for the Vietnam Urban Water Supply and Wastewater Project will mostly be used for a wastewater and drainage subproject for Binh Duong province.
Japan-headquarters Toyobo Co., Ltd. plans to invest in a plant to convert waste into power instead of landfill in Ho Chi Minh City
, which is struggling to deal with the waste headache because of booming population, local media reported.
Toyobo proposed treating waste in the city by using microbial fermentation and then converting it into organic material and energy. The firm’s technology has been applied in Singapore, the Philippines and India.
Over 50 Taiwanese auto parts producers are taking part in the Saigon Autotech & Accessories 2016 Expo, opened in Ho Chi Minh City on May 26, in a move to seek for opportunities in Vietnam’s burgeoning market.
Around 245,000 cars were sold in Vietnam in 2015, signaling that the country’s highly potential auto market is poised to grow further, said Eugene Hsiao, chairman of the Taipei County Auto Parts Association, explaining the reason for Taiwanese firms’ participation.