(VEN) - According to the Japan External Trade Organization (JETRO), Japanese companies invested more than US$8.6 billion in Vietnam in 2017, a sevenfold increase compared with 2016. This accounted for more than one third of total foreign investment in Vietnam last year, placing Japan at the top of the list of foreign investors. Japanese investment in Vietnam is concentrated in retail and real estate Higher profit The results of a recent survey carried out among 652 of the 2,540 Japanese companies currently operating in Vietnam show that 88 percent of these companies run profitable businesses, while more than 70 percent intend to expand operations in the future. Chief Representative of JETRO in Ho Chi Minh City, Takimoto Koji, attributed the growth of Japanese investment in Vietnam to projects in the field of infrastructure for power generation, electronics, real estate and fiber production. Investment in other areas, such as warehousing, transportation, … [Read more...] about Japanese investors optimistic about Vietnam
Vietnam politics
Japan, Vietnam Deepening Bilateral Relationship
In 2017, the strengthening of ties between Vietnam and Japan was reflected in events such as the visit of their majesty Emperor and Empress of Japan to Vietnam, proactive visits by the government leaders of both Vietnam and Japan to each others’ countries, the cooperation from Japanese local authorities and universities, and a variety of interactions among people in both countries. Expanded economic relations led Japan to rank first among countries with foreign direct investment in Vietnam. Political and social aspects of Vietnam were stable last year. In terms of the economy, the real economic growth rate last year was recorded as high as an estimated 6.81 per cent, a great achievement after 10 years of slower growth, while prices and the exchange rate were stabilised. On the other hand, issues including stagnation of productivity, environmental pollution, inequality, disaster mitigation, and corruption were more clearly identified. Some projects achieved steady … [Read more...] about Japan, Vietnam Deepening Bilateral Relationship
Vietnamese consumers more optimistic about politics in 2018: Financial Times
Vietnam's strong economic perfomance in 2017, combined with a sweeping anti-corruption movement, has led to an upbeat consumer outlook, according to a Financial Times survey. The organization's Asean Political Sentiment Index tracked the six-month political outlook of 5,000 respondents across Indonesia, Malaysia, the Philippines, Thailand and Vietnam. The index in Vietnam improved slightly to 60, the highest since mid-2016. A reading of 50 indicates no change in sentiment, while a score of over 50 signals an improvement. Strong economic results throughout 2017 have helped stem criticism of the government’s management of the economy, while a high-profile anti-corruption drive remains “popular”, the Financial Times said on Monday. Vietnam’s economy expanded 6.8 percent in 2017, the strongest growth recorded in a decade. The country also posted its strongest export growth in the past five years, with revenue expanding by 21 percent against 2016 to $213.7 billion, … [Read more...] about Vietnamese consumers more optimistic about politics in 2018: Financial Times
Vietnam National Assembly shows dynamism through APPF-26
The APPF meeting will take place in Hanoi from January 18-21 under thetheme of “Parliamentary partnership for peace, innovation andsustainable development.” Permanent Vice Chairwoman of the Vietnam National Assembly Tong Thi Phong chairs the third meeting of the APPF-26 organization board. This is the second time Vietnam has hosted the APPF’s annualmeeting. It first organized the 13th version in Ha Long city, Northerncoastal Quang Ninh province, in January 2005. At this meeting, Vietnamproposed an initiative on cooperation to overcome consequences ofearthquakes and tsunamis, winning approval from participating countries.At the hand-over ceremony of the APPF Chair for the 2017-2018tenure from Fiji to Vietnam in Ho Chi Minh City in May 2017, PermanentVice Chairwoman of the Vietnam NA Tong Thi Phong made clear that theVietnamese legislature highly values activities and agenda of the APPF.Since joining the APPF in January 1995, the Vietnam NA hasconstructively … [Read more...] about Vietnam National Assembly shows dynamism through APPF-26
Vietnam begins trial of top oil execs
High profile Vietnamese oil executives took the stand on Monday facing charges regarding millions of dollars worth of losses incurred at a subsidiary of state-owned PetroVietnam. The two-week trial at Hanoi People’s Court will see 22 former executives of the oil giant charged with embezzlement and economic mismanagement which caused huge losses at PetroVietnam Construction Corporation (PVC). Of the most prominent defendants, Dinh La Thang, former board chairman of PetroVietnam and once a political star, is facing 20 years in jail, while the notorious runaway Trinh Xuan Thanh, PVC’s former board chairman and general director, faces death for property embezzlement and 20 years in jail for violating state regulations on economic management. Thang has three lawyers defending him at the trial, while Thanh has five. Thang was board chairman of PetroVietnam between 2006 and 2011 before his political career took off as Minister of Transport in Prime Minister Nguyen Tan Dung’s … [Read more...] about Vietnam begins trial of top oil execs
Vietnam NA shows dynamism through APPF-26
The APPF meeting will take place in Hanoi from January 18-21 under the theme of “Parliamentary partnership for peace, innovation and sustainable development.”This is the second time Vietnam has hosted the APPF’s annual meeting. It first organized the 13th version in Ha Long city, northern coastal Quang Ninh province, in January 2005. At this meeting, Vietnam proposed an initiative on cooperation to overcome consequences of earthquakes and tsunamis, winning approval from participating countries.At the hand-over ceremony of the APPF Chair for the 2017-2018 tenure from Fiji to Vietnam in Ho Chi Minh City in May 2017, Permanent Vice Chairwoman of the Vietnam NA Tong Thi Phong made clear that the Vietnamese legislature highly values activities and agenda of the APPF. Since joining the APPF in January 1995, the Vietnam NA has constructively participated in the forum’s activities, as reflected through its presence in all annual APPF meetings, and numerous … [Read more...] about Vietnam NA shows dynamism through APPF-26
Tips for the holidays in Vietnam
You need a plan for Vietnam’s extended holiday season! If you don’t… well, look forward to boredom, frustration, delays and other debacles. Long term expats and savvy locals know exactly what I’m talking about. The next eight to twelve weeks has unexpected twists and obstacles that we often forget from last year – or simply are not aware of. So in the Christmas spirit of giving something good to everyone, here are a few tips. The list is neither exhaustive nor comprehensive – I’ll bet someone in the pub will say, “Ah…Stivi forgot to mention about…” Probably, but then again I’m more accurate than Donald Trump’s tweets. There are lots of tell-tale signs that the holidays will affect you. It starts off innocently enough when your English students or company staff begrudgingly admit that they didn’t do the homework or turn up for work on time because of a “__________ (name of holiday) … [Read more...] about Tips for the holidays in Vietnam
Vietnam, UK reinforce strategic partnership
Deputy PM and Foreign Minister Pham Binh Minh (R) hosts the UK official. Photo: VGP Earlier the same day, Mr. Mark Field and Vietnamese Permanent Deputy Foreign Minister Bui Thanh Son co-chaired the sixth Vietnam-UK Strategic Dialogue with the participation of senior officials from the UK Ministry of Defense and National Crime Agency as well as representatives from Vietnamese Ministries of National Defense, Public Security, and Agriculture and Rural Development. In an open atmosphere and on the basis of mutual respect and understanding, the two sides discussed orientations and concrete measures to bolster the Vietnam-UK strategic partnership in a more intensive, practical and effective manner, particularly in politics-diplomacy, trade-investment, education-training, science-technology and security-defense, in the context that the two countries are celebrating the 45th anniversary of bilateral diplomatic ties (1973-2018). They also exchanged ideas about regional and … [Read more...] about Vietnam, UK reinforce strategic partnership
Vietnam moves to cope with unconventional challenges on social media
Social media regulation, particularly relating to Facebook, was an agenda-topping item for various Vietnamese state agencies in 2017, highlighting the country’s apparent maneuvers to counter new threats in cyberspace. With Vietnam’s tax authorities unable to develop a viable strategy to force Internet-based technology giants to pay taxes and the Ministry of Information and Communications’ concern that social media is providing an easily accessible place for publishing "toxic content," a Party-run agency has been created to focus on ‘orienting’ content on certain platforms. Social media as a medium for ideology sharing At a meeting in Ho Chi Minh City late last year to recap its 2017 action plan, Vo Van Thuong, head of the Vietnamese Party’s Central Commission for Propaganda and Education, spent a chunk of his speaking time focusing on issues related to social media content. Thuong said social media can create profound impacts on public sentiment … [Read more...] about Vietnam moves to cope with unconventional challenges on social media
Vietnam, UK forge strategic partnership
Minh called on the UK Government to encourage British businesses to step up their investment and business in Vietnam, closely coordinate with the Vietnamese side to raise the efficiency of the use of capital sourced from the UK Commonwealth Foundation and create favourable conditions for the country to access the fund. He also suggested the UK Government continue coordination with its Vietnamese counterpart in building a long-term development pathway for the Vietnam-UK Institute for Research and Executive Education and make it easier for the entry and residence of Vietnamese students in the country. For his part, Mark Field highly valued achievements Vietnam has recorded in socio-economic development as well as in international integration in general and trade liberalisation in particular. He affirmed that the UK Government will prioritise deepening the strategic partnership across fields in the time ahead. Earlier the same day, Mark Field and Vietnamese … [Read more...] about Vietnam, UK forge strategic partnership