[Round-up] Vietnam Probe into Chinese Steer Concerns China, Switzerland to Give $91 Million

Tuan Minh

18:03 12/10/2016

BizLIVE - China’s Ministry of Commerce has expressed concern over Vietnam's investigation into Chinese steel products. Switzerland will grant $91.16 million to Vietnam in the next four years.

[Round-up] Vietnam Probe into Chinese Steer Concerns China, Switzerland to Give $91 Million

China’s Ministry of Commerce has expressed concern over Vietnam's investigation into Chinese steel products. Photo: Alibaba

China Concerned over Vietnam's Investigation into Chinese Steel
China’s Ministry of Commerce has expressed concern over Vietnam's investigation into Chinese steel products and urged the country to be cautious and restrained in using trade remedy measures.
The remarks came after Vietnam last week began investigating H-section steel imported from China.
Switzerland Commits $91 Million for Vietnam Development
Switzerland will grant 90 million Swiss franc ($91 million) to Vietnam, focusing on economic development cooperation over the next four years, Swiss State Secretary for Economic Affairs Marie-Gabrielle Ineichen Fleisch said Tuesday.
Fleisch pledged the official development assistance (ODA) as she launched Switzerland’s Development Cooperation Strategy 2017-2020 for Vietnam in Hanoi, the Vietnam News Agency reported.  
U.S. Multi-level Marketing Firm Leaves Vietnam
Multi-level marketing (MLM) company Isagenix Vietnam Company Limited has announced it will stop its operations and leave Vietnam because its Vietnamese business line is not necessary for its parent Isagenix International Company.
Established in November 2014, Isagenix Vietnam specializes in trading nutrition and beauty products in an MLM model. The company officially stopped its MLM operations throughout the country on March 14, 2016.
Moscow Hosting Russia-Vietnam Business Cooperation Forum Wednesday
Moscow is hosting on Wednesday a Russian-Vietnamese trade economic cooperation business forum, part of “Saigon Expo” which began last week.
Participants are expected to discuss the opportunities of export and import of the Russian and Vietnamese goods after a free trade agreement between the Russian-led Eurasian Economic Union (EEU) and Vietnam took effect on October 5, according to Sputnik News.
Prime Minister Wants Green Energy Cooperation with Denmark
Prime Minister Nguyen Xuan Phuc called on Denmark to strengthen cooperation with Vietnam in green energy, renewable energy, and healthcare, while hosting Danish Minister for Foreign Affairs Kristian Jensen in Hanoi on October 11.
The PM said Vietnam is stepping up anti-corruption and creating a favorable business environment for foreign investors, including those from Denmark, VNA reported.
Foreign Investors to Meet in Annual Investment Conference
More than 250 financial experts and investors from Vietnam, Thailand, Malaysia, Japan, Singapore, the U.S. and the EU will attend the second foreign investment conference in Ho Chi Minh City on November 4, according to VNA.
Co-hosted by the Ho Chi Minh Stock Exchange (HOSE) and financial data provider Stoxplus, the annual conference themed “Vietnam Stock Market: On the Way to Emerging Markets” will discuss promoting Vietnam’s securities market to an emerging market classification.
Ministry Sets up Committee for Sale of Biggest Brewers
The Vietnamese Ministry of Industry and Trade has established a steering committee to conduct the sale of shares of two leading brewery companies namely Sabeco and Habeco.
The committee will be headed by Deputy Minister of Industry and Trade Cao Quoc Hung and consist of 10 other members from the ministry’s authoritative departments and directors of the two brewers.
The Vietnamese government borrowed a combined $16 billion, including $11.2 billion in dong-denominated bonds and $4.88 billion in loans from foreign creditors, in the first nine months of this year, according to the finance ministry.
The average gross rent increased 4% quarter-on-quarter (q-o-q) in the third quarter (Q3) of this year, mostly from the good performances of the reopened Saigon Centre and the newly opened Aeon Mall Binh Tan shopping centers, despite a strong supply.
Retail stock reached 1.16 million square meters (sq.m), increasing 10% q-o-q and 22% year-on-year, Savills Vietnam has said in a report.
Samsung’s dramatic move to recall and end production of its recently-launched Galaxy Note 7 could have an adverse effect on Vietnam’s economy which has taken a hit from severe drought and a falling oil prices.
Former Trade Minister Truong Dinh Tuyen said in Hanoi on October 11 that the recall of Galaxy Note 7 could put a brake on Vietnam’s export revenue, which increased 6.7% in the first nine months of this year, below the whole-year growth target of 10%.
Marko Walde, chief representative of the German Industry and Commerce Vietnam (AHK), talked to BizLIVE about Vietnam’s business environment and put forward recommendations to make it more appealing to foreign investors.