Business investment opportunities

An overview of the meeting between Prime Minister Pham Minh Chinh and Brazilian businesses . (Photo: VNA) Sao Paulo (VNA) – Prime Minister Pham Minh Chinh on September 24 asked Vietnamese and Brazilian businesses to concretise cooperation mechanisms with specific programmes and projects, with an aim to bring two-way trade turnover to 10 billion USD by 2025, and 15-20 billion USD by 2030 in a more balanced direction. PM Chinh, who is in an official visit to the South American country, stressed that after nearly 35 years of the establishment of diplomatic ties, the bilateral relations have developed positively in all fields. Vietnam and Brazil are currently each other's largest trading partner in Southeast Asia and South America, with their trade turnover reaching a record level of about 6.78 billion USD in 2022, up 6.6% year-on-year, and by threefold in the past decade. However, investment cooperation remains very modest, as Brazil currently has six valid projects … [Read more...] about Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD

Vice Chairman of the provincial People’s Committee Le Huu Hoang and Rebecca Ball, Senior Trade and Investment Commissioner of Australia. (Photo: VNA) Khanh Hoa (VNA) – The Australian Trade and Investment Commission (Austrade) recently organised a roadshow in the central province of Khanh Hoa to unlock Vietnam – Australia cooperation opportunities in the fields of education and trade. The event, held as part of the activities to celebrate the 50th anniversary of the Vietnam – Australia diplomatic relations, drew more than 100 representatives from Australian universities, education establishments, food enterprises, as well as those from local branches, sectors, restaurants, hotels, retailers, importers, universities and colleges. Rebecca Ball, Senior Trade and Investment Commissioner of Australia, said that the event is expected to serve as a booster for the Vietnam – Australia trade through new cooperation opportunities in education and agrifood. Similar roadshow s … [Read more...] about Roadshow promotes Vietnam – Australia trade, education cooperation

At the working session between Viglacera's delegation and representatives from the Venezuelan Ministry of Industries and National Production (Photo: VNA) Hanoi (VNA) – The Venezuelan government is willing to create the most favourable conditions for Viglacera Corporation JSC of Vietnam to enter its market, considering this as a motivation to further strengthen the traditional friendship between the two countries, said Jorge Márquez, Minister of Office of the Presidency and Monitoring of Government Management of Venezuela. In a recent reception for a visiting delegation of the Vietnamese construction materials company, Márquez, who is also Chairman of the Vietnam-Venezuela Intergovernmental Joint Sub-committee, emphasised that in the context of Venezuela's ongoing recovery and economic diversification efforts to reduce its dependence on oil, there is great potential for cooperation in basic construction, especially in producing construction materials. During a working … [Read more...] about Vietnamese firm eyes to make deeper inroads into Venezuela

The event, held as part of the activities to celebrate the 50th anniversary of the Vietnam - Australia diplomatic relations, drew more than 100 representatives from Australian universities, education establishments, food enterprises, as well as those from local branches, sectors, restaurants, hotels, retailers, importers, universities and colleges. Rebecca Ball, Senior Trade and Investment Commissioner of Australia, said that the event is expected to serve as a booster for the Vietnam - Australia trade through new cooperation opportunities in education and agrifood. Similar roadshows were held in March in Hanoi, Hue and Da Nang, attracting more than 400 businesses, associations and education establishments, producing encouraging outcomes, so Austrade has high expectations that the September program will have noticeable impacts on bilateral trade, Ball said. Meanwhile, Vice Chairman of the provincial People’s Committee Le Huu Hoang expressed his hope that the roadshow will enhance … [Read more...] about Roadshow promotes Vietnam – Australia trade, education cooperation

At the working session between Viglacera's delegation and representatives from the Venezuelan Ministry of Industries and National Production. — VNA/VNS Photo The Venezuelan government is willing to create the most favourable conditions for Viglacera Corporation JSC of Vietnam to enter its market, considering this as a motivation to further strengthen the traditional friendship between the two countries, said Jorge Márquez, Minister of Office of the Presidency and Monitoring of Government Management of Venezuela. Márquez, who is also Chairman of the Vietnam-Venezuela Intergovernmental Joint Sub-committee,welcomed the Vietnamese delegation and underscored the potential for collaboration in vital construction ventures. This partnership is crucial for Venezuela as it seeks to diversify its economy and reduce dependence on oil. Venezuelan Minister of Industries and National Production, José Félix Rivas Alvarado, echoed the sentiment of fruitful cooperation between the two nations. … [Read more...] about Viglacera Corporation JSC eyes Venezuelan market

At the forum, held also thanks to the Swiss State Secretariat for Economic Affairs and the Australian Department of Foreign Affairs and Trade, speakers emphasised the substantial challenges faced by the climate finance sector in Vietnam in aligning significant investment opportunities with environmental objectives. This sentiment was shared by Allen Forlemu, the IFC's regional industry director for Financial Institutions Group, Asia-Pacific, when he said, “It is evident that climate change is an increasingly disruptive factor for Vietnam's economy, and the costs are already starting to undermine growth. In 2020, Vietnam lost $10 billion, or 3.2 per cent of its GDP, to climate change impacts.” “If nothing is done, costs will only rise. In a business-as-usual scenario with limited global mitigation efforts, climate change could cost Vietnam up to 14.5 per cent of GDP annually in roughly 30 years, with the potential to push a million people into extreme poverty in less than a decade,” … [Read more...] about Forum discusses impact of climate change

Many enterprises in Vietnam’s key export sectors are back on track as their orders have increased after a sharp decline several months ago, while certain tech firms have reported positive growth in international markets. Nguyen Van Trung, a representative of a company specializing in exporting agricultural products in the south, said mango, longan, dragon fruit, and durian exports to Australia and the U.S. have surged thanks to better preservation technology. The U.S. has resumed the import of Vietnam’s fresh coconuts, Trung added. Chanh Thu Company in southern Ben Tre Province also ships pomelos stateside and recorded growth. Vietnam will export this kind of fruit to China through official channels in the near future, according to Ngo Tuong Vy, CEO of Chanh Thu. Meanwhile, Nguyen Dinh Tung, general director of Vina T&T Group, pinned high hopes on durian exports for the rest of the year. “At present, only some 300 million Chinese consumers can access durians. With more … [Read more...] about Vietnamese enterprises regain growth momentum

Vice Chairman of the provincial People’s Committee Le Huu Hoang and Rebecca Ball, Senior Trade and Investment Commissioner of Australia. — VNA/VNS The Australian Trade and Investment Commission (Austrade) recently organised a roadshow in the central province of Khánh Hòa to unlock cooperation opportunities between Việt Nam and Australia in the fields of education and trade. The roadshow was part of the activities commemorating the 50th anniversary of Việt Nam-Australia diplomatic relations. The event attracted over 100 representatives from Australian universities, education establishments, food enterprises, as well as local branches, sectors, restaurants, hotels, retailers, importers, universities, and colleges. The aim of the roadshow was to boost Việt Nam-Australia trade by exploring new cooperation opportunities in education and agrifood. Rebecca Ball, Senior Trade and Investment Commissioner of Australia, said that the event is expected to serve as a booster for the … [Read more...] about Roadshow promotes Việt Nam – Australia trade, education cooperation

“In recent times, state-owned enterprises (SOEs) haven’t been contributing as much as they once did,” said Phan Van Mai, Chairman of the People’s Committee of Ho Chi Minh City, at last week’s national conference to address SOE production, business, and investment improvements. In Ho Chi Minh City alone, there are almost 50 SOEs. As of July, these enterprises boasted total assets of $4.43 billion with an equity capital of $3.16 billion. Their collective revenues for the first six months stood at $1.33 billion, with a profit of $205 million. Harnessing the vast resources of these SOEs is imperative for Ho Chi Minh City’s economic growth, Mai stressed, adding that the private sector, inclusive of both private domestic groups and foreign direct investment, have also been expected, and even tasked, to stimulate economic growth. Such a predicament is not solely Ho Chi Minh City’s cross to bear. The decline has echoes globally, influenced by international economic instability, political … [Read more...] about State-owned groups keen on roadmaps for reform

Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue (R) and Managing Director in Bulgaria headquarters of Denmark’s DSV Group Krasimira Vandeva. (Photo: VNA) Sofia (VNA) – Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue hosted separate receptions in Sofia on September 25 for M&A Director of Bulgaria’s SoPharma Group Dimitar Naydenov, and Managing Director in Bulgaria headquarters of Denmark’s DSV Group Krasimira Vandeva. At these meetings, Hue said one of the focuses of his official visit is to seek opportunities and promote trade, investment and business activities between Vietnamese and Bulgarian enterprises in particular and others in Europe. Appreciating the cooperation of SoPharma, a leading pharmaceutical company from Bulgaria operating in Vietnam, he said Vietnam identifies investment in protecting, caring for and improving people's health as investment in development. Chairman of the Vietnamese National Assembly (NA) … [Read more...] about NA Chairman receives leading officials of Bulgarian, Danish groups in Sofia