Asean countries and capitals

According to the latest report by HSBC, total FDI to ASEAN-6 (Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines) has averaged nearly $127 billion per year since 2010, approximately three times more than the average over the previous decade – the average for 2000-09 was $41 billion. Similarly, net FDI – inbound minus outbound direct investment – has averaged nearly $54 billion a year since 2010, almost four times the average from the previous decade. Thinking of FDI-driven economic success stories, Vietnam naturally stands out. The country has turned itself into a rising star in global supply chains, gaining a substantial global market share in many sectors including textiles, footwear, and consumer electronics. Since Vietnam’s Doi Moi reforms in 1986, industrial parks have been set up across the country, attracting investors with preferential tax incentives and an abundance of relatively cheap and productive labour. New FDI has been flowing into the country … [Read more...] about Vietnam continues to be one of the top FDI receivers in ASEAN

Addressing the event, Phan Van Mai, Chairman of the municipal People’s Committee, reviewed the arduous struggles for independence, freedom and national reunification of the Vietnamese and Cambodian armies and people. The Vietnamese military and people together with the patriotic Cambodian military and people fought side by side to save Cambodia from the Pol Pot genocidal regime, he said. The official emphasized that political ties between the two countries continue to be tightened through regular visits by their high-ranking leaders, adding that local authorities always attach great importance to and actively contribute to the traditional friendship and comprehensive cooperation between the governments and people of the two nations. Sok Dareth, Consul General of Cambodia in HCM City,  expressed his gratitude to generations of Vietnamese Party and State leaders, former advisors and volunteer soldiers for helping the country escape from the genocidal regime. He affirmed that the … [Read more...] about Vietnam, Cambodia strengthen relations

The Grand Opening Ceremony of Hue Festival 2022 officially opens on June 25. The ceremony with light shows and dazzling fireworks display, Ao Dai (Vietnamese traditional dress) fashion show, and special art program reviving the beauty, hoariness, cultural heritages and traditional craft villages of the Imperial City of Hue offered some exciting experiences and left a deep impression to local people and visitors. On the same day, a hot air balloon festival, an exhibition presenting 20 paintings of Truyen Kieu (Tale of Kieu) and traditional costumes of ASEAN countries opened. The week of arts and culture , themed "Cultural heritage with integration and development" that will be organized from June 25-30 includes a series of activities, such as the Grand Opening Ceremony, a street festival with the participation of local and international art, music shows, folk art performances, food fair, International Trade Fair, Ao Dai festival and among. Foreign tourists … [Read more...] about Grand Opening Ceremony of Hue Festival 2022 officially held

Hue Festival 2022 kicked off on Saturday evening in the eponymous city in central Vietnam, after a two-year halt due to COVID-19, centered around the ‘Cultural Heritage with Integration and Development’ theme. The opening ceremony at Ngo Mon Square, which attracted thousands of visitors, began with a unique art program along with an ao dai (Vietnam’s traditional gown) show, depicting cultural values and identities of Hue City, an ancient capital, as well as Thua Thien-Hue Province in general. After over 20 years of organization, Festival Hue has become a national cultural and artistic event to promote Vietnam’s cultural quintessence and the ancient royal city of Hue as a safe, friendly, and beautiful destination, said deputy chairman of the provincial administration Nguyen Thanh Binh, who is also head of the festival organizing committee. This year’s festival, scheduled to last from June 25 to 30, includes eight main festive programs, along with 29 accompanying exhibitions and … [Read more...] about Hue Festival 2022 opens, features attractive art, cultural activities

Three bright points The first bright point in the five-month FDI picture is the disbursement of US$7.71 billion, a year-on-year increase of 7.8 percent. The Foreign Investment Agency of the Ministry of Planning and Investment attributed this positive result to the continuous and effective support of the government and relevant state authorities, the business community’s efforts, and the recovery of the Vietnamese economy. Binh Duong Province hands over investment certificates to businesses Although the amount of FDI capital attracted in the first five months was 16.3 percent lower than that in the same period last year, the increased disbursement reflected Vietnam’s attractiveness to foreign investors. The second bright point is the strong increase in the number of projects and the amount of registered capital. Specifically, 395 projects registered capital increases totaling more than US$5.61 billion, up 15.5 percent in the number of projects and 45.4 percent in … [Read more...] about Five-month foreign investment highlights

Illustrative image (Source: VNA) Hanoi (VNA) – An online conference will take place from July 5 - 6 to connect Vietnamese and Japanese businesses in the support industries, aiming to help domestic firms seek partners and boost exports. The event, held by the Vietnam Trade Promotion Agency (Vietrade), Vietnam’s Trade Office in Japan, and the ASEAN - Japan Centre , will also help Vietnam ese businesses in the support industries to access new trends in the market, advanced technologies, and potential partners from Japan in order to develop more professionally. It will assist enterprises in Vietnam to maintain connectivity with the Japanese side and explore export opportunities, according to Vietrade. Statistics show that over the past years, Vietnamese companies have developed in terms of both quantity and quality. They have improved production capacity and are increasingly engaged in global production chains. The number of those firms currently accounts for … [Read more...] about Virtual event to connect Vietnamese, Japanese firms in support industries

Lam Dong Province leaders visit the farm of Sunfood Da Lat CO.OP recently. — Photo courtesy of the Sunfood Da Lat CO.OP The Central Highland province of Lam Dong will need to train a highly skilled workforce, expand international cooperation and lure foreign investment in hi-tech agriculture in an effort to become a national agriculture hub. According to Nguyen Van Chau, deputy director of the province’s Department of Agriculture and Rural Development, Lam Dong, blessed with a mild climate and fertile soil suitable for agriculture, aims to attract FDI in hi-tech agriculture to add value and meet market demand, especially for exports. It plans to focus on restructuring crops and building concentrated production areas. It will invest in equipment and machinery, upgrading factories, supporting human resource training and building processes that meet international standards. Priority will be given to large-scale FDI enterprises with high capability in terms of capital, … [Read more...] about Lam Dong lures FDI in hi-tech agriculture

Occupying the third floor of the grade A Capital Place building, 29 Lieu Giai, Ba Dinh, Hanoi, and attaching the flagship Thang Long branch on the ground floor, the new head office brings together three existing offices across Hanoi into one place for seamless operations and better client service. It features an open-plan office, creating a spacious and comfortable working environment for its employees, and applies technology to optimise office spaces and usability. “Vietnam is an exciting and dynamic market and an important part of our global footprint. It’s great to see our business grow from strength to strength, offering an innovative suite of solutions for consumers and businesses, while contributing to the sustainable development of the Vietnamese economy. Deeply committed to Vietnam, we will continue to grow with the country and make a difference for its people and community.” said Patrick Lee, Cluster CEO, Singapore & ASEAN Markets (Malaysia, Vietnam, Thailand … [Read more...] about Standard Chartered launches new Head Office in Hanoi

Standard Chartered Vietnam launched its new head office in Ha Noi. — Photo courtesy of the bank Standard Chartered Vietnam on Wednesday officially launched its new head office in Ha Noi, strengthening its strong, long-term commitment to investment in Viet Nam. Occupying the third floor of the grade A Capital Place building, 29 Lieu Giai, Ba Dinh, Ha Noi, and attaching the flagship Thang Long branch on the ground floor, the new head office brings together three existing offices across Ha Noi into one place for seamless operations and better client service. It features an open-plan office, creating a spacious and comfortable working environment for its employees, and applies technology to optimise office spaces and usability. “Viet Nam is an exciting and dynamic market and an important part of our global footprint. It’s great to see our business grow from strength to strength, offering an innovative suite of solutions for consumers and businesses while contributing to the … [Read more...] about Standard Chartered reinforces long-term commitment to Viet Nam

Visiting Australia's Minister for Foreign Affairs Penny Wong has affirmed that her nation will continue promoting its strategic partnership with Vietnam and always attaches importance to the Southeast Asian country's role in the region. She was speaking at her talks with her Vietnamese counterpart Bui Thanh Son in Hanoi on Monday as part of her three-day official visit to Vietnam from June 26 to 28 at Son’s invitation. Wong told her host that Australia highly values Vietnam’s role and position in the Association of Southeast Asian Nations (ASEAN), the region and the world, and that the new Australian government in which she is a member will continue strengthening the strategic partnership with Vietnam to boost the bilateral ties to a new height. The diplomat also stated that her country highly values cooperation with ASEAN, appreciates its central role, and will continue to promote cooperation with the bloc for the sustainable development of the Mekong sub-region. … [Read more...] about Australia pledges to beef up strategic partnership with Vietnam