Eu market

A vast array of companies are getting involved with foreign markets, especially Europe (Photo Le Toan) With years of experience in exporting produce to the EU, Phan Van Thuong, director of G.O.C Food Processing Export JSC, a private company located in the northern province of Bac Giang, said that his company is investing a large amount of money in expanding its operations. Over the years, the company’s export turnover of foods like pineapples, baby cucumbers, and asparagus to the EU has seen rapid growth. “Our company once had to refuse an order of 35 containers to Germany, and was able to accept 20 instead, because we didn’t have enough material,” Thuong said. According to him, since the EU-Vietnam Free Trade Agreement (EVFTA) was signed in late June, some EU companies have contacted his company seeking co-operation. “They’re interested in typical Vietnamese products,” he said. In another case, at the Nafoods factory in the Mekong Delta … [Read more...] about Agri-trade to blossom through EVFTA

The agro-forestry-aquatic sector boasts great potential to attract more investment, while also contributing to the country’s export turnover (Photo: Le Toan) Over the past few months, TH Group has spent millions of US dollars on beefing up production of fresh milk products. Not only being locally consumed, these products are also exported to China, where TH has become the first Vietnamese enterprise to be allowed by China’s authorised agencies to export fresh milk products into this gigantic market with a population of 1.4 billion people. Under a protocol signed in April between Vietnam’s Ministry of Agriculture and Rural Development (MARD) and China’s General Administration of Customs on veterinary and health requirements for dairy products to be exported, TH Group has met all strict requirements and conditions set by China. Also, in April, TH Group inked an MoU for a strategic partnership on market development and consumption of foodstuffs, farm produce, … [Read more...] about Agriculture driving economic growth

Vietnam should extend visa exemption policies for foreign tourists to encourage more visitors to return. Viet Nam needs to extend further visa exemption policy for foreign tourists for attracting more foreign visitors coming back. — Photo baokhanhhoa.vn Tu Quy Thanh, General Director of the Federal Travel Company, said right now foreign tourists who receive visa exemptions are allowed to stay here for only 15 days, less than the average time they often want to stay. He says the visa exemption policy would need to be applied for up to 30 days like other countries because many tourists travel from the west, and 15 days is not long enough to stay here. According to tourism companies the visa policy should be reformed to create better conditions for tourists. Pham Ha, founder and chief executive officer of the Luxury Travel Company, said tourists staying longer would spend more and boost the economy. He believed the State should increase the amount of time they are allowed to … [Read more...] about Vietnam needs to extend further visa exemption policy for tourists

Existing factors in the market, especially strong FDI inflow, all are supporting the prosperity of the industrial real estate market. According to JLL Vietnam, five leading industrial real estate markets in the southern region all had high occupancy rates, 81 percent on average in the second quarter of the year. HCM City, Binh Duong and Dong Nai were the three biggest markets. A report of the Ministry of Planning and Investment shows that in H1, the FDI capital in industrial zones and economic zones reached $8.7 billion, while the demand for industrial real estate surged significantly as a result of the US-China trade war. Meanwhile, Foxconn (Taiwan), Lenovo (China), Nintendo, Sharp, Kyocera and Asics (Japan) are considering moving. Savills’ report says that Vietnam’s industrial real estate sector is thriving because of the impacts of FTAs. Of these, CPTPP, set up in January 2019 and Vietnam-EU (EVFTA), signed in June 2019, both have helped attract more investment … [Read more...] about Industrial real estate thrives on FDI increase

Retail is attractive for investors as the industry has advantages after foreign wholly-owned retail firms have been allowed to set up in Vietnam and taxes imposed on most of goods imported from other ASEAN countries to Vietnam are exempted. Vietnam’s retail industry is continuing to see more merger and acquisition (M&A) deals made by both domestic and foreign investors thanks to a rising income of local consumers and free trade agreements, but the competition in the market is also becoming fierce, experts said. South Korea’s GS 25 is completing final procedures to acquire Zakka Mart VinCommerce, the retail arm of Vietnam’s largest listed firm Vingroup, last week took over convenience store chain Shop&Go, which was one of the earliest ones in the country by opening its first store in 2006, for a symbolic US$1. Shop&Go now has 70 stores in Ho Chi Minh City and 17 in Hanoi, open 24/7 and selling consumer goods, fast foods and beverages among others. … [Read more...] about M&A in Vietnam’s retail industry on the rise in 2019