(VEN) - The EU is a reliable partner supporting Vietnam’s integration into the global economy, and European companies have contributed to Vietnam’s market-oriented reforms. Vietnam Economic News’ Thu Huong and Lan Huong talked with Denis Brunetti, Co-Chairman of the European Chamber of Commerce (EuroCham) in Vietnam and Ericsson President in Vietnam, Myanmar, Cambodia and Laos. Could you share the achievements of European companies in the Vietnamese market over the last two decades? As Co-Chairman of EuroCham Vietnam, hundreds of European companies have contributed to the socioeconomic development of Vietnam over the past 30 years of foreign direct investment (FDI) engagement between Europe and Vietnam. Investment and trade has spanned the full range of industry sectors contributing to the amazing GDP growth trajectory over that period, including information and communications technology (ICT), manufacturing/production, agriculture, tourism, transport, … [Read more...] about European investment and the ICT industry transforming Vietnam
Vietnam economics news
Minister: Vietnam must cut pesticide use
(VEN) - Minimizing the use of pesticides is essential for Vietnam to reach cleaner agricultural production. Vietnam Economic News’ Nguyen Hanh spoke with Minister of Agriculture and Rural Development Nguyen Xuan Cuong about this issue. Minister of Agriculture and Rural Development Nguyen Xuan Cuong Could you tell us about the Ministry of Agriculture and Rural Development’s plant protection plans? Agriculture plays a very important role in Vietnam. With its policy and policy implementation solutions, Vietnam has developed its agriculture from a system that only meets the domestic market’s food demand and partially satisfies export demand to a sector capable of high-grade commodity production and participation in the global food chain. This transformation requires the sector to meet stricter quality and development standards. Therefore, quarantine and plant protection need to be well planned in accordance with development demands and to improve Vietnam … [Read more...] about Minister: Vietnam must cut pesticide use
AEON Vietnam: “We link our growth to Vietnam’s development”
(VEN) - As a major retail group of Japan, AEON has made ceaseless efforts to expand its operations in Asian countries, including Vietnam. Despite fierce competition with local retailers and world-leading retail groups, AEON Vietnam has won the trust of local consumers and maintained its firm position in the Vietnamese market. Yasuo Nishitohge, General Director of the AEON Vietnam Company Limited, told Vietnam Economic News’ Thanh Tung that the company links its growth to Vietnam’s development. What do you think of the Vietnamese retail market and the local business environment? Japanese companies consider Vietnam a potential market, especially in the retail field. Being directly proportional to the growth of the economy, the purchasing capacity of Vietnamese consumers has increased considerably, raising their demand for high quality products and services. We would like to express our thanks to Ho Chi Minh City for their support. AEON Vietnam officially commenced its … [Read more...] about AEON Vietnam: “We link our growth to Vietnam’s development”
Trade pact augurs Vietnam Korea e commerce growth
(VEN) - Yun Won Sok, Executive Vice President of the Korea Trade-Investment Promotion Agency (KOTRA), tells Vietnam Economic News’ Nguyen Huong and Nhat Quang that the free trade agreement between Vietnam and the Republic of Korea (KVFTA) has had positive impacts on bilateral trade and investment, and is expected to boost e-commerce trade between the two countries. How has bilateral trade, especially Vietnamese exports to the RoK, changed since the KVFTA signed in May 2015 took effect in December 2015? Since the KVFTA was signed, bilateral trade has more than doubled, from US$30.4 billion in 2014 to US$37.6 billion in 2015 and US$64 billion in 2017. Vietnamese exports to the RoK have also doubled, from US$8 billion in 2014 to US$9.8 billion in 2015 and US$16.2 billion in 2017. In the past, major Vietnamese exports to the RoK included agricultural and aquatic products, textiles, garments and footwear. Today, electronic products have been added to the export list. In … [Read more...] about Trade pact augurs Vietnam Korea e commerce growth
Reed Tradex steps forward with Vietnam’s manufacturing industry
(VEN) - In a talk with Vietnam Economic News’ Nguyen Huong Deputy Managing Director of Reed Tradex Co., Ltd (Thailand) Suttisak Wilanan said that Reed Tradex passionately steps forward with Vietnam’s manufacturing industry. Could you tell us the results of your exhibitions organized in Vietnam? Reed Tradex marked the 11th year in Vietnam with three international exhibitions in 2017 which are Metalex Vietnam, Nepcon Vietnam and Vietnam Manufacturing Expo. By stepping up to two digits years, we have annually attached over 30,000 quality visitors, covered two biggest economic hubs of Vietnam - Hanoi and Ho Chi Minh City. One of the key success points to make customers to confidently continue participating in our exhibitions is not only the specialized content but also the good preparation, comprehensive marketing plan to deliver the right targeted partners to all the participants. Through up and downside situations in more than 10 years in Vietnam, all industrial … [Read more...] about Reed Tradex steps forward with Vietnam’s manufacturing industry
Vietnam needs organic fertilizers for clean agriculture
(VEN) - Vietnam’s agricultural production faces a serious imbalance in the use of organic and inorganic fertilizers, resulting in a negative impact on the environment and quality of agricultural products. Minister of Agriculture and Rural Development Nguyen Xuan Cuong spoke in an interview with Vietnam Economic News’ Nguyen Hanh about the urgent need to develop organic fertilizers. Minister of Agriculture and Rural Development Nguyen Xuan Cuong What is the role of organic fertilizers in clean agriculture? In the restructuring program, the agricultural sector is striving to produce clean and high-quality products and accelerate integration into the global distribution chain of agricultural products. Organic fertilizers have proven highly effective in achieving clean and high-quality agricultural products. In addition to releasing vital nutrients as they break down, organic fertilizers improve the makeup of the soil and increase its ability to hold water and … [Read more...] about Vietnam needs organic fertilizers for clean agriculture
Vietnam, Kuwait enhance economic cooperation
(VEN) - Vietnam Economic News’ My Phung spoke with Khaled Falah Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City, about achievements in bilateral cooperation especially in economic ties between Kuwait and Vietnam, after 42 years of diplomatic relations. What are major achievements in bilateral cooperation between Kuwait and Vietnam after more than four decades of diplomatic relations? Kuwait and Vietnam established diplomatic relations in 1976 and we were one of the first countries to establish the relationship with your country after the unification. Since then, our bilateral relationship has been unceasingly developed and continued to make progress and boom at all levels. We are proud that Kuwait is the first country in the Gulf Region where Vietnam established its embassy in 2003. Kuwait also opened its Embassy in Hanoi and the Consulate General in Ho Chi Minh City in 2007. In May 2016, His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah … [Read more...] about Vietnam, Kuwait enhance economic cooperation
Vietnam Japan strategic partnership for peace and wealth
(VEN) - Vietnam Economic News’ Thanh Ngoc spoke with Fujita Yasuo, Chief Representative of the JICA Vietnam Office. How has the Japan International Cooperation Agency (JICA) contributed to the realization/development of strategic partnership for peace and wealth between Vietnam and Japan? The Extensive Strategic Partnership for Peace and Prosperity in Asia agreed in March 2014 covers a variety of areas - politics, economy, society, culture, etc. JICA has been contributing to the realization and development of this relation through implementing Japan’s Official Development Assistance (ODA) to Vietnam. JICA has been supporting Vietnam in achieving sustainable growth with its national target to be a “modern industrialized nation” in line with the Socio-Economic Development Strategy (2011- 2020) and the Five Year Plan (2016- 2020) of Vietnam. The current development assistance strategy of the Japanese government for Vietnam stipulates the following three … [Read more...] about Vietnam Japan strategic partnership for peace and wealth
Vietnam, Israel appreciate 25 years of diplomatic relations
(VEN) - Vietnam Economic News’ Ngoc Thao talked with Nadav Eshcar, Israeli Ambassador to Vietnam about 2018 when Vietnam and Israel will mark the 25th anniversary of diplomatic relations. Could you tell us about the highlights of the Israeli-Vietnam relationship in 2017? I think the number 1 highlight was the historical visit by the Israeli Head of State- President Reuven Rivlin. This is the second time an Israeli President visited Vietnam, which demonstrates our respect and admiration to Vietnam, as well as the importance of the relations between two countries. The visit lasted for over a week - quite long and it was the opportunity to witness the signing of quite a few significant agreements in the fields of science and technology, business, defense, education, etc. Off course we are very happy about that, I think it gave a considerable boost for our already very good and active relations. Also both sides have many action plans in the near future that we are very eager to … [Read more...] about Vietnam, Israel appreciate 25 years of diplomatic relations
2017 was a good year for Vietnam’s trade and industry
(VEN) - The Vietnam Economic News selected 10 industry and trade highlights in 2017. 1. The government issued a decree regulating the function, tasks, rights and organizational structure of the Ministry of Industry and Trade. On August 18, 2017, Prime Minister Nguyen Xuan Phuc signed Decree 98/2017/ND-CP, regulating the function, tasks, rights and the organizational structure of the Ministry of Industry and Trade. The decree is intended to streamline the ministry’s organizational structure. The number of subsidiaries under the ministry has been reduced from 35 to 30, including 26 administrative units and four state-funded public service entities. In addition, the number of state-governing departments at the ministry’s headquarters has also been slashed by 72 or 36.5 percent. 2. The Ministry of Industry and Trade slashed and simplified administrative procedures and investment and business conditions. Following the Master Plan for Simplification of Administrative Procedures … [Read more...] about 2017 was a good year for Vietnam’s trade and industry