Jetro Explores Tay Ninh Business Opportunities
Deputy Managing Director of the Japan External Trade Organization (Jetro) Office in Ho Chi Minh City Fukagawa Atsuko held a working session with authorities of the southern province of Tay Ninh on July 18 to explore local investment environment and opportunities.
Apart from calling for investment in hi-tech industry, rubber, cassava starch, animal husbandry, fisheries, logistics, and bonded warehouses in economic and border gate areas, a land site spanning nearly 3,000ha is earmarked for hi-tech agriculture, mostly vegetables and fruits for export, said Nguyen Thanh Ngoc, vice chairman of the provincial People’s Committee.
Vietnam President Pushes for EU’s Signing of Free Trade Deal
President Tran Dai Quang
has asked Slovakia to push for the European Union (EU)’s signing of the EU-Vietnam Free Trade Agreement (EVFTA) and recognition of Vietnam as a market economy soon, thereby boosting bilateral trade and investment, the Vietnam News Agency (VNA) reported.
In a reception for Slovak Prime Minister Robert Fico in Hanoi on July 18, the Vietnamese president affirmed that Vietnam wants to continue its close and effective cooperation with Slovakia at multilateral forums, and believed that Slovakia’s role as the rotating president of the EU in July 2016 will positively impact Vietnam-EU ties.
Australia – Potential Market for Vietnam’s Fruit, Vegetable
Australia, which needs to import $1.7 billion-$2 billion of fruit and vegetable each year, is a potential market for Vietnamese fruit and vegetable but its strict quarantine regulations remain a great obstacle, said the Vietnam Trade Office in the country.
According to the General Department of Vietnam Customs, Vietnam exported over $1.3 billion worth of goods to Australia in the first six months of 2016, of which fruit and vegetable made up $10.3 million.
Solutions to Boosting Exports Sought
The southern business community suggested more cuts in export procedures as among solutions to spurring Vietnam’s exports in the remaining months of 2016 at a conference in Ho Chi Minh City on July 19.
Sharing the businesses’ views, Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the administrative reform needs to be hastened since it is essential to production and export activities.
HCM City to Host Vietnam-Singapore Business Forum
Around 200 business leaders, industry experts, policymakers and government officials will participate in the 2016 Vietnam – Singapore Business Forum starting in HCM City on July 20.
Hosted by the Vietnam Chamber of Commerce and Industry (VCCI
), this business platform connects companies in Vietnam and Singapore, enabling them to explore cooperation opportunities.
Thua Thien-Hue Draws 88 Foreign Direct Investment Projects
As many as 88 foreign direct investment (FDI) projects with a total registered capital of $2.26 billion have landed in the central coastal province of Thua Thien-Hue so far, making the locality the 6th most attractive destination for foreign investors in the central region.
Large groups operating in the locality include Singaporean Banyan Tree Holdings Limited, HBI Group from the U.S. and Charoen Pokphand (CP) Group from Thailand.
Indian Leather Industry Eyes Huge Vietnam’s Market
Indian leather and footwear businesses have only recently discovered Vietnam is a huge market while their Vietnamese counterparts import massive quantities of leather but little from India, according to VNA.
In 2015, Vietnam imported $5 billion worth of leather and accessories, only 5% of it from India, the second largest global producer of leather and footwear.
Vietnam, U.S. Ink Antidumping Duty Agreement over Vietnamese Shrimp
Vietnam and the United States have signed an agreement related to antidumping duty over shrimp imported from Vietnam.
Accordingly, the two sides reached bilateral solutions to settle the two long-lasting World Trade Organization (WTO) disputes over imports of Vietnamese shrimp to the U.S., in which Vietnam sues the U.S. for violating WTO regulations when imposing antidumping duty on Vietnamese shrimp.
HCM City, Singapore Boost Economic Cooperation
Ho Chi Minh City hopes to receive more investment from Singaporean businesses in transport, urban development and anti-flooding, said Chairman of the municipal People’s Committee Nguyen Thanh Phong.
He made the remark during a reception in HCM City on July 18 for Josephine Teo, Singaporean Senior Minister of State in charge of Prime Minister’s Office, Ministry of Foreign Affairs and Ministry of Transport.
Vietnam, Slovakia Enhance Trade
Deputy Prime Minister Vuong Dinh Hue has stressed that the Vietnamese government always welcomes and supports foreign firms and Slovak ones in particular to expand their business in Vietnam.
Speaking at the Vietnam-Slovakia business forum in Hanoi on July 18, Hue said Slovak enterprises should not only target Vietnam with a 90-million population but also ASEAN with more than 600 million people – the most vibrant economy at present.
Vietnam Shields Local Steel Industry from Cheap Chinese Imports
The Vietnamese Ministry of Industry and Trade has announced additional tariffs for imported steel billets and rods following an investigation that demonstrated cheap imports hurt the local industry.
As a temporary safeguard measure, the ministry has levied an import tariff of 23.3% on steel billets and 14.2% on steel rods since March after four local producers including major Hoa Phat Group (HO.HPG) filed a petition.
106,000 Firms Formed in Vietnam since July 2015
Nearly 106,000 enterprises with a combined registered capital of 767.97 trillion dong ($34.13 billion), rising 27.8% in number and 42.4% in capital year-on-year, were set up in Vietnam one year after the new Law on Businesses and Law on Investment took effect on July 1, 2015, according to the Ministry of Planning and Investment.