Prime Minister Nguyen Xuan Phuc suggested further boosting economic, trade and investment ties between Vietnam and the US city of Los Angeles during a reception for its Mayor Eric Garcetti in Hanoi on July 28.
Bernd Lange, Chairman of the European Parliament’s Committee on International Trade, has said he expects the European Union-Vietnam Free Trade Agreement (EVFTA) to be signed at the Asia-Europe Meeting Summit in October or sometime in November this year.
Products including telephones and spare parts, garment and textiles, electronics and computers are expected to bring highest export turnover to the country in 2017, said the Ministry of Industry and Trade.
HCM City – Vietnamese business community is known as a group of hard-working and creative people, but linkages among the community’s members and connections between the business community and authorities are not developed enough to internationally integrate and compete.
Vietnam is one of the largest coffee producers in the world, earning more than 3 billion USD from the export of coffee bean each year, but the country mainly sells beans as material with low added value.
As many as 200 foreign delegates – including heads of the world’s leading real estate associations, developers, and speakers – and nearly 1,000 domestic officials, economists, and enterprises, have registered to join the International Real Estate Conference (IREC) 2018 that will take place in Hanoi from September 5-7.
The central city of Da Nang has introduced a number of open-door policies to lure investors in 2018, which has been set by the city as a year of investment attraction.
US Consul General in Ho Chi Minh City Mary Tarnowka has expressed her wishes to further promote trade with the Mekong Delta city of Can Tho in the field of agriculture, thereby enabling firms from the Mekong Delta and Can Tho in particular to boost their exports to the US.
As many as 550 businesses from 20 nations and territories are presenting their products at the 22nd International Exhibition on Food and Beverage and the 22nd International Exhibition on Food Processing, Packing Technology and Equipment (VietFood & Beverage – ProPack), that opened in HCM City on August 8.
Vietnam’s industrial real estate market has been becoming a magnet for foreign direct investment (FDI) enterprises thanks to robust growth of macro-economy.
The Government will have to decide either to devalue the Vietnamese dong further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/dong exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.
The Ministry of Finance (MoF) must apply measures to curb year-on-year inflation in 2018 at below 3.7-3.9 percent, said Deputy Prime Minister Vuong Dinh Hue.
The VN-Index of the Ho Chi Minh Stock Exchange (HoSE) rose 21.12 points on July 18, with 223.9 million shares worth over 4.9 trillion VND (211 million USD) traded.
The changes in tax policy and investment incentives are the issues of greatest concern for foreign investors in Vietnam, said Bui Ngoc Tuan, Deputy General Director of the Audit and Advisory firm Deloitte Vietnam at a workshop on in Hanoi on July 10.
Vietnam has attracted companies renting industrial property due to low cost as well as strategic location, strong economic growth and development of the middle-class, according to JLL Vietnam.
The mid-term Vietnam Business Forum (VBF) 2018, themed “Linkage between domestic and FDI businesses – Partnership for mutual benefit”, opened in Hanoi on July 4.
As many as 64,531 new enterprises have been set up in the first half of 2018 with a total registered capital of 649 trillion VND (28.6 billion USD), up 5.3 percent and 8.9 percent from the same period last year, respectively.
Vietnamese firms invested 222.48 million USD in 67 newly-licensed projects abroad in the first six months of 2018, reported the Foreign Investment Agency under the Ministry of Planning and Investment.
Weaving is believed to be the weakest link in Vietnam’s textile and garment value chain, but denim fabric is a strong point of local producers.
Up to 82.6 percent of the processing and manufacturing enterprises said they enjoyed a more stable and better business operation in the second quarter of the year, according to the General Statistics Office of Vietnam.