Vietnam, China Deepen Comprehensive Strategic Cooperative Partnership
Vietnam and China have reached a consensus on further prompting their comprehensive strategic cooperative partnership in the new situation, the Vietnam News Agency (VNA) reported.
The consensus was reached during talks between Prime Minister Nguyen Xuan Phuc
and Chinese Premier Li Keqiang in Beijing on September 12 following the welcome ceremony the same day.
PM Chairs Roundtable Dialogue with Chinese CEOs
Prime Minister Nguyen Xuan Phuc chaired a roundtable dialogue with CEOs of leading Chinese business in Nanning, Guangxi, on September 11, on the fringe of the 13th China-ASEAN
Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS).
He affirmed the Vietnamese government’s resolve to create an open and transparent business climate for both domestic and foreign enterprises, pledging that the government and people of Vietnam will create the best possible conditions for businesses and investors.
Japan to Continue ODA Support to Vietnam
Japan’s Official Development Assistance (ODA) cooperation in Vietnam had been successful, said President of the Japan International Cooperation Agency (JICA) Shinichi Kitaoka in a press conference in Hanoi on September 10 as part of his official visit to Vietnam.
Japan’s ODA cooperation in Vietnam was one of the most successful cooperation examples of Japan, thanks to the two countries’ efforts, he was quoted by VNA as saying.
HCM City Approves Draft for Smart City Project
HCM City’s steering committee for the smart city project hosted a meeting on September 9 to approve a draft plan of the project, which aims to develop the southern metropolis into a smart city, according to VNA.
It focuses on e-government, traffic, health, welfare, public security, water supply and drainage, environment, education, economy, agriculture and communications. In addition, the city will launch minor projects such as a traffic control center, electronic medical records system, smart electricity meters, and a security and traffic camera system.
KB Card in Talks to Acquire Vietnam’s Finance Firm
South Korea’s KB Kookmin Card is in talks to take over Vietnamese microfinance company HANDICO Finance Company, a subsidiary of state-run construction firm Hanoi Housing Development and Investment Corporation (HANDICO).
KB is said to be focusing on developing measures for reducing HANDICO Finance’s contingent liabilities.
Hyosung to Turn Vietnam into Its Biggest Production Base for Textile, IT
Hyosung has grown Vietnam as its largest production base in the world for products such as spandex and tire cord with highest market shares by focusing its investment on the southern part of Vietnam, said Hyosung Group’s President Cho Hyun-joon during a meeting with Dinh La Thang, general secretary of the Communist Party of Ho Chi Minh City, on September 9.
We are going to closely cooperate in information technology (IT) including automated teller machines (ATM), as well as in infrastructures such as petrochemistry, electricity, and water supply and drainage, he added.
Japan’s Economic Region Strengthens Cooperation with Vietnam
Kansai, the second biggest economic region in Japan, wants to seek a new path to further cooperation with Vietnam, especially after the Trans-Pacific Partnership (TPP) agreement comes into force, Chairman of the Kansai Economic Federation (Kankeiren) Shosuke Mori told Deputy Prime Minister Vuong Dinh Hue in Hanoi on September 12.
He confirmed Kankeiren will spare no efforts to develop relations with Vietnam, noting that the Ministry of Planning and Investment of Vietnam has organized dialogues together with the federation in recent years to link investment and cooperation between the two sides.
Vietnam Car Sales Drop in ‘Ghost Month’
Car sales in Vietnam last August fell 17% from the previous month to 23,540 units, attributable to consumers’ unwillingness to do big business like car purchases in the “Ghost Month”, according to data of the Vietnam Automobile Manufacturers’ Association (VAMA).
Insiders said August coincided with the seventh lunar month, traditionally called the “Ghost Month”, during which many people believe that it would be unlucky to start building houses or buying cars which are big assets to them.
The Vietnamese government’s intention to continue banning non-foreign passport holders from entering casinos may be detrimental to foreign investment in the sector, CNBC quoted analysts as saying.
Local newspapers said the ruling was based on social concerns regarding gambling addictions, money laundering and other illicit activities.
Standard Chartered will continue to invest in Vietnam to capture the opportunities that the market offers and to drive trade, investment and the creation of wealth in the country, the bank’s Group Chief Executive Officer Bill Winters has said during his first official visit to the country.
“Vietnam is an attractive emerging market driven by its young and dynamic population and increasing integration into the global economy,” Winters said, noting that the bank’s long presence in the country and deep local knowledge put it in an ideal position to facilitate Vietnam’s growth.
Ho Chi Minh City plans to spend over 30 trillion dong ($1.34 billion) into building flyover bridges, expanding roads, and constructing an elevated road to reduce traffic congestion at the gateway to its overloaded Tan Son Nhat International Airport.