Photo: vietnamnet.vn In addition to traditional fields, such as clothing, real estate, agro-forestry-fisheries, Hong Kong investors are looking to fund infrastructure and waste treatment in the form of public-private partnership (PPP) models, the Voice of Vietnam cited Tina Phan, Director of Indochina at HKTDC, as saying. The director said she hoped when the ASEAN-Hong Kong Free Trade Agreement goes into effect, it will open up huge opportunities and her council will send more business delegations to Vietnam to study opportunities. Vietnam is the six largest exporter to Hong Kong and a major trade partner. Over the past nine months, Vietnam exported 5.5 billion USD worth of goods to Hong Kong, up 23.4 percent year-on-year, while its imports rose 25 percent to 1.3 billion USD. Hong Kong is also among Vietnam’s leading sources of foreign direct investment (FDI). From January to September, FDI … [Read more...] about Hong Kong businesses eye VN opportunities
Economy
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Viettel displays preparation for 4.0 industrial revolution
Viettel staff introducing the group's IT achievements. Photo: chinhphu.vn With the theme of “Viettel and the 4.0 industrial revolution”, the exhibition showcased Viettel’s network infrastructure and solutions for State management offices, enterprises and households. To prepare for the 4.0 industrial revolution, Viettel has strongly invested in researching and developing equipment for its telecom network. The most important achievement is the 4G base transceiver station. At present, the group has around 340,000 km of fibre-optic cable, 36,000 4G base transceiver stations with most modern technology covering 95 percent of the population. It owns five data centres with cloud computing technology meeting international standards. “A strong telecom network foundation is the most important factor to create a 4.0 industry and a 4.0 society where all electronic equipment … [Read more...] about Viettel displays preparation for 4.0 industrial revolution
Growth up, inflation too: VERP research
According to Nguyen Duc Thanh, VEPR Director, quarterly growth for the third quarter gross domestic production was 7.46 percent, an improvement of 0.27 percentage points from the second quarter, with a forecast of 7.12 percent for the fourth quarter, bringing the expected annual growth rate to 6.64 percent. In particular, agricultural and service sectors have improved their performance, with construction and manufacturing industries growing 12.77 percent quarter on quarter. Other industrial productivity indicators were also positive. Production chain at the Kien Giang Import & Export Joint Stock Company in Kien Giang province. (Photo for illustration: VNA/VNS) In the fourth quarter, consumer demand and investment demand is expected to increase sharply as the pace of construction investment disbursement is accelerated. At the same time, exports will likely continue to rise sharply due to favorable developments in the world … [Read more...] about Growth up, inflation too: VERP research
Mid-priced flats in vogue in Ho Chi Minh City
A report from market researcher CBRE Vietnam said the segment, with prices ranging from USD 800 to USD 1,500 per square meter, accounted for 60 percent of third quarter launches. (Photo for illustration: laodong.com.vn) The Ho Chi Minh City Real Estate Association had predicted at the beginning of this year that the property market would see a strong restructure, with developers switching from luxury to mid-priced apartments. It had explained that the rebalancing would take place to resolve the mismatch between demand, which was overwhelmingly for cheaper units, and supply, which was skewed in favour of high-priced ones. Dau Tu newspaper (Vietnam Investment Review) quoted Vinh Kiem, an investor in Ho Chi Minh City, as saying that mid-range apartments built by prestigious developers bring solid returns to buyers. Since prices are not high, an investor can buy several at a time, according to Kiem. … [Read more...] about Mid-priced flats in vogue in Ho Chi Minh City
Ariyana Da Nang convention centre inaugurated
The centre is a key project to serve the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week scheduled to take place from November 6-11. Construction of the centre started in March 2016 and was completed ahead of schedule after 22 months. Covering an area of 12,000 sq.m, the Ariyana centre is connected with the Furama Da Nang International Convention Palace. It is the largest conference and workshop complex in Vietnam, accommodating up to 5,000 seats and 15 functional rooms, with a grand ballroom alone offering 2,500 seats. The two centres will be the hosting venues for most of the events held within the framework of the APEC Economic Leaders’ Week 2017, including the APEC CEO Summit. Leaders from 21 APEC member economies, together with around 10,000 domestic and foreign delegates, including corporate … [Read more...] about Ariyana Da Nang convention centre inaugurated
Professionalization improves competitiveness for Vietnam’s tourism sector
Nguyen Van Tuan, Director General of the Vietnam National Administration of Tourism. In the last nine months, approximately 9.5 million international visitors have visited Vietnam, 28% more than last year. In September alone, the number of international visitors to Vietnam was 1 million people, bringing Vietnam’s tourism a revenue of US$16.5 billion . Following successful tourism promotion programs in key markets, Vietnam expects to realize its target of a 30% increase in foreign arrivals in the near future. The rise in the number of international visitors from July to September reflects Vietnam’s attraction. Nguyen Van Tuan, Director General of the Vietnam National Administration of Tourism, said that the number of international visitors will continue to increase till the end of the year but more should … [Read more...] about Professionalization improves competitiveness for Vietnam’s tourism sector
CJ Group buying offensive to bring revenue to US$90 billion
The perfect match from Vietnam In recent years, Gemadept has emerged as an attractive option for investors in the field of logistics, including JP Morgan, Nikko, NTAsset, Composite, Consilium, TAELPartners, Seafarer, Dunross, CIM, Indochina Capital, SSI, MBS, VFM, Sarus Capital, and Bao Viet Fund. Projects that have been deployed at strategic locations in key industrial zones, especially those in core business areas such as port operations or logistics, are the highlight of Gemadept, making it appealing to the above investor community. Gemadept is withdrawing its capital from companies operating outside the industry, seeking strategic partners to further promote the company’s businesses in port operations and logistics. Gemadept has transferred 50.9 per cent of its shares in Gemadept Shipping and Gemadept Logistics to CJ Logistics, which … [Read more...] about CJ Group buying offensive to bring revenue to US$90 billion
Entrepreneurs Day honors 57 firms
At the ceremony. Photo: sggp.org.vn More than 800 delegates and representatives from state agencies and local and foreign business associations participated in the ceremony to celebrate the 13th Vietnam Entrepreneurs Day, organized by the Ho Chi Minh City Business Association. Of the honored businesses, which were shortlisted from 400 businesses by the association, 23 have been operating for more than 30 years and 34 more than 40 years. In addition, 79 products and services from 79 companies were also awarded as excellent products and services in 2017 during the ceremony. The selections were made by the Ho Chi Minh City Business Association, Department of Industry and Trade, Department of Science and Technology and the Vietnam Standards and Consumers Association. The businesses were honored for their excellent observance of state policies and achievements in production and business and constant improvement in the … [Read more...] about Entrepreneurs Day honors 57 firms
Hong Kong businesses keen on investment opportunities in Vietnam
A new wave of investment is taking shape in Hong Kong as speculators seek opportunities to invest in projects on transport infrastructure and wastewater treatment. Tina Phan, Director of Indochina at Hong Kong Trade Development Council, said at a recent conference on trade promotion in Ho Chi Minh City that she hoped when the ASEAN-Hong Kong Free Trade Agreement takes effect, it will open up huge opportunities for Hong Kong businesses to increase trade and investment in Vietnam. Apart from traditional fields such as clothing, real estate, agro-forestry and fisheries, investors are looking to fund infrastructure and waste treatment in the form of the Public-Private Partnership (PPP) model. Hong Kong investors are currently seeking investment opportunities in HCM City’s Metro Line No. 2 project, road construction and wastewater projects in … [Read more...] about Hong Kong businesses keen on investment opportunities in Vietnam
Vietnam sets Oct. 20 deadline for Sabeco divestment plan submission
The October 20 deadline set by Prime Minister Nguyen Xuan Phuc is a clear signal that the long-awaited state divestment in Saigon Beer Alcohol Beverage Corp (Sabeco) might happen this year after repeated delays. Many foreign brewers have been looking at a possible investment in the maker of the Bia Saigon and 333 brews, since it was earmarked for privatisation. But long-stated plans for the government, which still owns about 90 percent, to sell a majority stake have met with repeated delays. The plan to sell a stake in Sabeco by the trade ministry will be reviewed by Deputy Prime Minister Vuong Dinh Hue, who oversees economic and financial activities, before it is sent for a higher level of approval within the government. After the government's approval, the trade ministry will prepare a prospectus for the sale, said Dang Quyet Tien, head of the finance ministry's … [Read more...] about Vietnam sets Oct. 20 deadline for Sabeco divestment plan submission
