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
Export business opportunities
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
Apparel exports seen growing 18% in 2014
Apparel exports seen growing 18% in 2014Van Nam By Van Nam - The Saigon Times Daily HCMC – The nation expects to obtain US$23.5-24.5 billion in garment and textile exports this year, up nearly 18% against the previous year. Once realized, the industry will achieve the export goal five years earlier than previously set, said Le Tien Truong, deputy general director of the Vietnam National Textile and Garment Group, or Vinatex. Speaking to the Daily on the sidelines of an opening ceremony of the Vietnam Saigon Fabric and Garment Accessories Expo 2014 (Saigon Tex 2014) on April 10, Truong said the apparel industry earlier aimed at an export value of US$25 billion by 2020. However, local enterprises can get close to this goal this year due to ample export orders. Last year saw local apparel enterprises obtaining US$20.4 billion in export revenue, up 18% against the previous year. Vietnam is speeding up negotiations on the Trans-Pacific Partnership (TPP) agreement and … [Read more...] about Apparel exports seen growing 18% in 2014
Hanoi’s exports make sharp breakthrough
In 2017, Hanoi’s export turnover was estimated to reach US$11.542 billion, a year-on-year increase of 8%, with local exports accounting for US$9.582 billion, up 9.3% and the target set by the municipal People’s Council and People’s Committee. Commodities seeing a high growth rate over the same period last year were electronic goods (44.1%); gas and oil (29.4%); transport vehicles and spare parts (28.6%); and machinery, equipment, and accessories (25.1%).The above results show that enterprises have seized the initiative to take advantage of the recovery of big economies as well as key export markets such as the US, Japan, EU, and China. In addition, the city’s authorities have synchronously developed numerous specific measures to support businesses in promoting their exports.Since the beginning of 2017, Hanoi issued a series of projects and plans in this field, notably Plan No.89/KH-UBND on the implementation of measures to promote the city’s exports in … [Read more...] about Hanoi’s exports make sharp breakthrough
VN-Russia business relations boom
HÀ NỘI — Enterprises from Việt Nam and Russia should utilise new business opportunities to cement the comprehensive relationship between the two countries. Deputy Prime Minister Trịnh Đình Dũng said this at Expo-Russia Vietnam 2017, which opened its doors here yesterday. More than 500 businesses are taking part. “The future of bilateral ties depends not only on the expectations of the two governments, but also on the dynamism and determination of the two business communities," the deputy PM said. Russia is an important trade partner for Việt Nam with two-way trade reaching to more than US$3.2 billion in the 11 months of the year to date, up 26.7 per cent year-on-year. This figure, however, still lags behind the trade target of $10 billion by 2020 set earlier by the two countries’ leaders, Dũng said. The deputy PM said he hoped the country’s key staples, such as textiles and garments, footwear, seafood, farm … [Read more...] about VN-Russia business relations boom
Government highlights new opportunities for investors
At Hanoi-based Vietnam Business Forum (VBF) on December 12—a policy dialogue between the Vietnamese government and the business community—Prime Minister Nguyen Xuan Phuc highlighted new trends and opportunities that will have positive impacts on enterprises.Specifically, Vietnam is witnessing a rapid rise in the middle class. According to the ‘Vietnam 2035’ report—a joint Vietnam-World Bank Group study launched last year—the middle class makes up 10 per cent of Vietnam’s population now and is forecasted to rise to 50 per cent by 2035. Studies of high-profile organisations also showed the same results.“This will change the economy’s consumption structure, giving many new business opportunities to enterprises,” Phuc said.He also highlighted strong changes in the Vietnamese IT industry featuring the gradual development of automation and artificial intelligence. Vietnam has more than 52 million Internet users (over 54 per cent of … [Read more...] about Government highlights new opportunities for investors
Overseas Vietnamese meet in Dalat to talk business
Overseas Vietnamese meet in Dalat to talk businessThuy Dung By Thuy Dung - The Saigon Times Daily HANOI – Some 235 delegates from 30 countries and territories, which represent nearly 20 Vietnamese business associations, and around 100 small and medium-sized enterprises in Vietnam will gather in Dalat City tomorrow to seek investment opportunities, said the Ministry of Foreign Affairs. They will join the meeting program that connects Vietnamese businesspeople in the country and overseas. The meeting, which will wrap up on August 9, is organized by the National Committee for Overseas Vietnamese under the ministry. The program will include exhibition of products, goods and services of enterprises, introduction of partners to boost exports, and exchanges among enterprises in the fields of finance, real estate, tourism, export and import. According to the committee, over 3,600 overseas Vietnamese enterprises have made investments in 51 out of 63 provinces and cities in Vietnam with … [Read more...] about Overseas Vietnamese meet in Dalat to talk business
BUSINESS IN BRIEF 11/12
Investments in drugstore chains turn activeFPT Retail has recently confirmed its investment in the Long Chau drugstore chain, thus lengthening the list of tech retailers that are venturing into drugstore business.The Gioi Di Dong and Digiworld that have long been known as retailers of tech products have invested into drugstore chains as well.At a meeting on business operations at the Hochiminh Stock Exchange earlier this month, FPT Retail general director Nguyen Bach Diep said the company started injecting capital into Long Chau drugstores early this year on a pilot basis and would expand its investment in this sector next year.Revenue from drugstore business operations would be included in FPT Retail’s revenue as from 2019, Diep added.News about FPT Retail’s investment in the Long Chau drugstore chain broke early this year. But when reached by the media, the company said negotiations were ongoing and that there was no official information.Some of the well-known drugstore … [Read more...] about BUSINESS IN BRIEF 11/12