Between January and November 2018, 1.2 million tonnes of Vietnamese steel products were exported to Cambodia for over 796 million USD, annual increases of 53.04 and 74.36 percent, respectively (Source: VNA) Hanoi (VNA) – Vietnam’s exports to Cambodia exceeded 3 billion USD last year, setting a record high in a decade and opening up opportunities for local firms to capitalise on untapped potential of the neighbouring market, statistics show. In the past three years, the value of Vietnamese shipments to Cambodia increased continuously from 2.2 billion USD in 2016 to 2.77 billion USD in 2017 and 3.4 billion USD in the first 11 months of 2018. According to the General Department of Vietnam Customs, during the January-November period last year, the export of steel, petroleum, and garment-textile products to Cambodia recorded significant increases and together accounted for the lion’s share of the country’s total, at 49.63 percent. Notably, 1.2 million … [Read more...] about Vietnam sees export, trade opportunities in Cambodian market
Export business opportunities
Indian firms seek business opportunities in Vietnam
India is strong in fibre and yarn production and Vietnam is dependent on import of feedstock for its textile industry, and so they could both benefit by co-operation, a business interaction event heard in HCM City on Wednesday. Representatives of Indian and Vietnamese firms exchange information at a business interaction event in HCM City on December 19.-Photo Courtesy of the organiser K Srikar Reddy, the Indian consul general in HCM City, said Vietnam and India are among the top five exporters of textiles and clothing and their interests converge. Vietnamese textile exports topped US$31 billion last year but it also imported $19 billion worth of inputs, especially yarn and fabric, he said. In the year until March 2018, India’s exports were worth $36.73 billion. Under the India-ASEAN Free Trade Agreement, most types of yarns and woven and knit fabric could be imported duty-free from India starting next month. Dilbagh Singh, chairman of the Indian Business Chamber in … [Read more...] about Indian firms seek business opportunities in Vietnam
Indian firms seek business opportunities in VN
India is strong in fibre and yarn production and Viet Nam is dependent on import of feedstock for its textile industry, and so they could both benefit by co-operation, a business interaction event heard in HCM City on Wednesday. K Srikar Reddy, the Indian consul general in HCM City, said Viet Nam and India are among the top five exporters of textiles and clothing and their interests converge. Vietnamese textile exports topped US$31 billion last year but it also imported $19 billion worth of inputs, especially yarn and fabric, he said. In the year until March 2018, India’s exports were worth $36.73 billion. Under the India-ASEAN Free Trade Agreement, most types of yarns and woven and knit fabric could be imported duty-free from India starting next month. Dilbagh Singh, chairman of the Indian Business Chamber in Viet Nam, said India has a strong fibre and yarn industry that produces almost all kinds of fabric and supporting materials, making it one of the three largest textile … [Read more...] about Indian firms seek business opportunities in VN
Korean firms to explore business opportunities in Singapore
President Moon Jae-in (Source: AFP) Seoul (VNA) - Leaders of major groups and smaller businesses from the Republic of Korea (RoK) will join President Moon Jae-in on his state visit to Singapore this week, the Korea Trade-Investment Promotion Agency (KOTRA) said on July 9. Moon, who is on a four-day trip to India, is scheduled to visit Singapore from July 11-13, during which he plans to hold a meeting with Singaporean Prime Minister Lee Hsien Loong. The RoK President will be accompanied by a large-scale delegation composed of heads and high-ranking officials of 72 conglomerates and smaller companies, as well as chiefs of business bodies, according to KOTRA. They include a vice chairman of tech giant Samsung Electronics Co., the CEO of top automaker Hyundai Motor Co. and a vice chairman of LG Group. Businessmen representing smaller companies include the chairmen of Ssangyong Engineering & Construction Co., Hyundai Group, SM Group, and food and … [Read more...] about Korean firms to explore business opportunities in Singapore
Belgian potato exporters seek opportunities in Vietnam
Belgium’s Flanders Agricultural Marketing Board held a press conference in Hanoi on May 14 to announce a plan to develop the Belgian potato market share in Vietnam. Belgium is the world’s largest frozen fries exporter, with over 90 percent being shipped abroad - Source: Flanders Agricultural Marketing Board Attending the event were five largest Belgian businesses major in exporting potato products and specialties to 100 different markets globally, including Agristo, Bart’s Potato Company, Clarebout Potatoes, Ecofrost and Mydibel, and the Belgian fries group Theo VNA … [Read more...] about Belgian potato exporters seek opportunities in Vietnam
Dialogue talks Vietnam – Iran business opportunities
Speaker of the Parliament of Iran Ali Ardeshir Larijani (middle) (Source: VNA) Hanoi (VNA) – A Vietnam – Iran business dialogue took place in Hanoi on April 17 to discuss business opportunities between the two countries. The event was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI), the Vietnam – Iran Business Council and Iranian Embassy in Vietnam on the occasion of the ongoing visit by Speaker of the Parliament of Iran Ali Ardeshir Larijani. Speaking at the dialogue, VCCI Vice President Doan Duy Khuong said bilateral ties have grown towards lifting two-way trade to 2 billion USD, with a focus on oil and gas, telecommunications, agriculture and aquatic products. Two-way trade hit 164.6 million USD last year, a modest figure compared to the two countries’ potential. Vietnam could export rice, tea, coffee, cashew nuts, pepper, rubber, motorbike and bicycle spare parts to Iran while the Western Asian country could ship petrol, … [Read more...] about Dialogue talks Vietnam – Iran business opportunities
Potential business opportunities for Vietnamese and Korean enterprises
Over the years, Vietnam Expo has done a good job of promoting trade among neighbouring countries in the region and has been constantly expanding to reach an ever-increasing line-up of attending countries, increasing the number of enterprises which have well-known brands, and demonstrating new technologies, as well as connecting enterprises. The 28th Vietnam International Trade Fair (Vietnam Expo 2018) themed “Vietnam Expo—Enhancing regional and global economic links,” will take place on April 11-14 at Hanoi International Exhibition Centre (ICE). There will be 500 booths and 450 enterprises from 20 provinces and cities from across Vietnam and 23 countries and territories. The national pavilions include Russia, Cuba, Korea, Nepal, China, and Vietnam. Over the past 25 years, Vietnamese-Korean trade has grown from just $500 million in 1992 to approximately $60 billion at the end of last year. The figure is expected to reach $70 billion by this year and $100 billion by … [Read more...] about Potential business opportunities for Vietnamese and Korean enterprises
BUSINESS IN BRIEF 14/1
Pepper growers concern about falling pricesPepper growers are entering the harvest season of 2018 in the southeastern region of Vietnam, concerning about price fall and output reduction because of pests and diseases.Traders now pay VND65,000-66,000 a kilogram of pepper, accounting for half of the price in the same period last year.Long lasting rains last year created conditions for pests and diseases to attack pepper crop, resulting in output drop this year.According to statistics, high pepper prices in previous years sent farmers to expand farming area to 40,100 hectares in Ba Ria-Vung Tau, Dong Nai and Binh Phuoc provinces in 2017. The area far exceeds the plan of 12,800 hectares by 2020 of the Government.That has broken supply and demand balance causing continuos price reductions for the last two years. Enterprises develop fast in number, efficiency low: economic survey 2017Data from economic survey of HCMC 2017 showed that although the number of enterprises quickly develops, their … [Read more...] about BUSINESS IN BRIEF 14/1
Agriculture makes up exports imprints in 2017
For the first time in history, exports marked a remarkable achievement in 2017 as they exceeded the US$200 billion benchmark with a total value of US$213.77 billion, up 21%. 2018 is also expected to be a good year for export targets. Typically, the seafood industry has returned impressively earning the country US$8.4 billion in 2017 (up 18.5% from the previous year), while wood and furniture brought in US$7.6 billion (up 9.2%), rice exports reaped US$2.6 billion (22.7%), and cashew nuts earned US$3.5 billion (23.9%). Most notably, fruit and vegetables surpassed the long standing crude oil in terms of export value at US$3.5 billion, up 43.1%. It is time to further improve the agricultural sector’s role. The good results in 2017 show that Vietnam has potential to develop a modern agricultural sector with higher added value and higher contributions to the GDP compared to the quite modest contribution level at present. For fruit alone, the recent encouraging results have opened up … [Read more...] about Agriculture makes up exports imprints in 2017
BUSINESS IN BRIEF 9/1
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1