[Round-up] Vietnam Wants Boost in Economic Ties with Singapore, New Zealand, UK

Tuan Minh

17:37 16/11/2015

BizLIVE - Vietnamese government leaders have expressed willingness to scale up economic cooperation with Singapore, New Zealand and the UK.

[Round-up] Vietnam Wants Boost in Economic Ties with Singapore, New Zealand, UK

Vietnam, New Zealand's PMs talk during a reception ceremony in Hanoi. (Photo: VNS)

Vietnam, New Zealand Seek to Lift Bilateral Trade to $1.7 Billion
During their talks in Hanoi on November 15, Vietnamese Prime Minister Nguyen Tan Dung and his New Zealand counterpart John Key agreed to lift up the trade value between the two countries to $1.7 billion by 2020.
PM John Key pledged to continue development aid, especially in such fields like agriculture, knowledge and skills, and disaster risk management as well as technical assistance for market development and brand building for Vietnamese agricultural products, including dragon fruit.
Vietnam PM Holds Talks with UK Prince Andrew
PM Nguyen Tan Dung on November 13 met with Prince Andrew of the United Kingdom and Northern Ireland, who is paying a working visit to Vietnam.  
Vietnam looks for effective cooperation with the UK in all fields, especially economy, trade and investment, affirmed PM Dung, adding that the successful implementation of the aforesaid initiative would help promote bilateral trade and investment ties.
Vietnam Calls for More Singapore Investment in VSIPs
Vietnam expects Singaporean enterprises to continue investing in Vietnam-Singapore Industrial Parks (VSIPs) and build more VSIPs in other Vietnamese localities, President of the Vietnam Fatherland Front Central Committee Nguyen Thien Nhan told visiting Singaporean Deputy Prime Minister Tharman Shanmugaratnam.
Mr. Nhan proposed Singaporean firms consider constructing more VSIPs in the Mekong Delta, with a focus on agriculture and seafood.
Vietnam, Slovenia Pledge to Support Businesses
Vietnam’s Ministry of Industry and Trade would support and facilitate business opportunities for Vietnamese and Slovenian firms in both countries, said Deputy Minister Ho Thi Thoa at a business forum last Friday.
The deputy minister proposed the two sides step up economic and investment cooperation, especially in the paper industry, electronics, maritime transport, logistics and processing-related fields.
State Budget to Meet 30% of Investment Demand in Coming 5 Years
Vietnam’s state budget could meet just 30% of the country’s financial needs for investment projects in the next five years, the government has said in a medium-term development plan report.
Minister of Planning and Investment Bui Quang Vinh said total capital for development investments in the 2011-2015 period grew to 5,617 trillion dong ($249.64 billion), 1.8 times higher than that in the 2006-2010 period.
Vietnam Red River Delta Attracts $6.96 Billion FDI in Jan-Oct
Foreign investors have registered to invest $6.96 billion in newly-licensed and operational projects in 11 Red River Delta provinces in the first ten months of this year.
Bac Ninh province, which is home to some Samsung projects, took the lead with $3.5 billion in foreign direct investment. It was followed by Hanoi with $902 million, Hai Phong with 4766 million and Quang Ninh with $435 million.
Vietnam, South Korea Debut Economic Forum to Boost Trade, Investment  
Vietnam and South Korea held an economic forum for the first time in Hanoi on November 12 in a move to step up bilateral trade and investment, in the context a free trade agreement between to two countries will take effect soon.
The forum is expected to bring more opportunities for firms of the two countries to enhance ties in industries such as the support industries, infrastructure and agriculture, said Lee Dong Geun, vice chairman of the Korea Chamber of Commerce and Industry (KCCI).
U.S. Dollar Strengthens against Vietnam Dong
Banks in Vietnam increased prices of the U.S. dollar by around 40 dong to 22,500 dong a dollar on Monday afternoon, near the upper limit of 22,547 dong a dollar set by the central bank.
Prices of the greenback in the free market hover around 22,590 dong-22,600 dong. The USD has been strengthening in the international market on speculation that the Fed may hike interest rates next month.
British Prince Andrew Visits Hanoi Creative City
Prince Andrew, Duke of York, paid a visit to Hanoi Creative City last Saturday afternoon to examine the businesses models created by the Vietnamese youth.
Prince Andrew said he was also willing to share his knowledge about how to start a new business which is commonly applied in the United Kingdom and expressed his hope for future cooperation in the field between Vietnam and the UK.
Vietnam Gov’t Hastens SOE Privatization
At a conference on the overhaul of state-owned enterprises (SOEs) last Friday, Deputy Prime Minister Vu Van Ninh called upon government agencies and corporations to be more decisive in revamping the state-run sector.
The restructuring process of state-run firms in Vietnam is marching at a snail’s pace and risks missing the deadline set for the 2011-2015 period although the government has taken bold steps to accelerate it.
Office Occupancy in HCM City Hits 6-Year High in Q3: Savills
The office occupancy rate in the city increased 1% quarter-on-quarter and 3% year-on-year in Q3/2015, reaching the highest level in the last six years, Savills Vietnam said in a recently-released report.
“Growth in foreign direct investment and gross domestic product in HCMC in 9M/2015 is anticipated to flow through to office demand,” Savills Vietnam said in a recently-released report.
Hanoi Real Estate Inventory Drops Sharply: Savills Vietnam
Real estate inventory in Hanoi declined sharply in the third quarter of 2015 as sales surged, according to Savills Vietnam.
The inventory ratio of the residential realty market in Hanoi fell 11 percentage points quarter-on-quarters and seven percentage points year-on-year thanks to continued strong performance, Savills Vietnam said in its latest report.
Vietnam Firms Eye Mega Steel Project Dropped by Foreign Investors  
Hoa Sen Group and Hoa Phat Group (HPG), among the big names in the local steel industry, have proposed taking over the Guang Lian steel mill project in Dung Quat Economic Zone in the central province of Quang Ngai.
The proposals came several months after its Taiwanese investors reported that they could not arrange finances for the project, which has come to a standstill since it was licensed in 2006.
Vietnam, South Korea Launch Incubator Park in Mekong Delta
Korea-Vietnam Incubator Park was inaugurated in Can Tho city on November 14 to tap the agricultural and industrial potential in the Mekong Delta region, which is Vietnam’s food basket.
Korea-Vietnam Incubator Park, whose construction started in November 2013, had an investment of $21.13 million, of which $17.7 million came from South Korea’s official development assistance and the remainder from the Vietnamese government.   
Vietnam Needs 239 Trillion Dong for Rural Development in 2016-2020
Vietnam’s National Assembly last week approved funds worth 239 trillion dong ($10.7 billion) for two national programs targeting to better life in rural areas and decrease poverty between 2016 and 2020.