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Hong Kong calls for investment from Vietnam Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13. Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch, held that Vietnam and Hong Kong are key major trade partners of each other with bilateral trade reaching 9.2 billion USD in 2017, up 22 percent from 2016. As of June 2018, Hong Kong was the sixth largest foreign investor in Vietnam with a total capital of nearly 19 billion USD, he said. With the ASEAN-Hong Kong free trade agreement, trade and investment between Vietnam and Hong Kong are both expected to grow fiercely in the near future. Vietnam is encouraging firms to expand investment abroad to popularise Vietnamese products across the world. Thanh hailed Hong Kong as a free, developed economy with a strategic location, modern infrastructure, and large capital … [Read more...] about BUSINESS NEWS IN BRIEF 14/8

Vinalines' port activity surges According to a VIR source, SP-PSA, a joint-venture port of Vinalines and Singapore-based PSA, saw its volume of bulk goods increase 32.7 per cent on-year to 1.54 million tonnes last year. Container throughput reached 67 twenty-foot equivalent units (TEUs). The port located in the Cai Mep-Thi Vai area of the southern province of Ba Ria-Vung Tau made revenue of $3.07 million in the year, up 33.47 per cent on-year. SSIT, a joint venture between Vinalines and US-based Carrix/SSA, handled 3.8 million tonnes of goods during the period, doubling its 2015 volume. The port, also in Cai Mep-Thi Vai, reported revenue of over $5 million, up 85 per cent on-year. 2016 also saw business improvements at Cai Lan International Container Terminal (CICT), located in the northern province of Quang Ninh. This joint venture also has Carrix/SSA as a partner. CICT accommodated over 3.82 million tonnes goods in bulk last year, up 38.9 per cent, while revenue rose 22.6 per … [Read more...] about BUSINESS NEWS 1/3