Speaking highly of Samsung Vietnam’s success in terms of revenues, export turnover and job creation, the PM stated that the Vietnamese government is interested in Samsung-invested projects and will create favourable conditions for the group to conduct successful business in Vietnam. Shim Won Hwan, former General Director of the Samsung Vietnam Complex, expressed his admiration at Vietnam’s economic growth rate, adding that Samsung is delighted to partially contribute to that growth. He voiced his gratitude for the support given to him from the Vietnamese government and PM during his working tenure in Vietnam. Samsung always considers Vietnam as an important strategic production hub in its global strategy, and pledges to expand its long-term investment in the Southeast Asian country, the guest affirmed. The production outcome of Samsung Vietnam Complex has posed the most impressive growth among Samsung’s overseas production centres, which is vivid evidence of the … [Read more...] about Samsung urged to expand production activities in Vietnam
Economic activities in vietnam
Yuan payment allowed in Vietnam, China border areas
Chinese yuan will be allowed for payment in the border areas between Vietnam and China. Total trade revenues between Vietnam and China were estimated at US$66 billion in H1 2018. - VNA/VNS Photo The announcement was part of Circular No 19/2018/TT-NHNN, which will take effect from October 12 this year. Besides the yuan, traders and residents in the border areas of Vietnam and China, can also use Vietnamese đồng or fully convertible currencies, such as the US dollar, Euro or Yen, for payment of goods and services. In addition to individuals, some other organisations will be subject to the new regulation. They include commercial banks and branches of foreign banks licensed to conduct foreign exchange transactions in Vietnam; branches of banks located in border areas and border-gate economic zones of Vietnam and China; organisations trading in duty-free goods; organisations providing services in isolated areas at international border gates; organisations … [Read more...] about Yuan payment allowed in Vietnam, China border areas
Business forum boosts Korean investment in Vietnam
The Vietnam-Korea Business Forum Spring 2018 was also held to devise measures to expand trade and investment promotion between the two countries, striving to reach bilateral trade turnover worth US$100 billion by 2020. Speaking at the forum, Deputy Minister of Planning and Investment Le Quang Manh said that the relationship between Vietnam and the RoK has developed to become increasingly beneficial for both sides with stable growth and impressive results. Starting from what was mainly the outsourcing projects in the light industry sector, Korean enterprises are now playing an important role in several key economic sectors in Vietnam, such as electronics, energy, automobile manufacturing, garments, and construction. The RoK is currently Vietnam’s largest FDI partner with more than 6,760 valid projects in the Southeast Asian country, worth a total registered investment capital of US$59 billion. Regarding trade, the RoK has become the second largest trading partner of Vietnam and in … [Read more...] about Business forum boosts Korean investment in Vietnam
Singaporean standards boost CapitaLand’s profile in Vietnam
How important is the Vietnamese market for the development strategy of CapitaLand? Chen Lian Pang Vietnam plays an important role in CapitaLand’s development strategy. It is the third-largest market for CapitaLand in Southeast Asia, after Singapore and Malaysia. Vietnam is a key growth market for CapitaLand and we are seeing strong demand for vibrant, high-quality live-work-play spaces due to the rapid urbanisation and the evolving lifestyles of young and mobile Vietnamese people. Harnessing our vast experience across different real estate types, this upcoming integrated development will offer best-in-class practices in homes, offices, and malls, which will attract young Vietnamese urbanites, multinational companies, and local startups. What are CapitaLand’s biggest achievements in 24 years of operations in Vietnam? I can say that CapitaLand is now the biggest apartment unit provider and operator in Vietnam with a total of 33 projects, offering a total of just … [Read more...] about Singaporean standards boost CapitaLand’s profile in Vietnam
Agri tourism development – inevitable trend in Vietnam
The enhancement of capitalising on values of the agricultural sector to create high-quality and competitive tourism products is an inevitable trend, said Nguyen Quy Phuong – Director of the Travel Department under the Vietnam National Administration of Tourism. Vineyards in the south central province of Ninh Thuan have become a tourism product He made the remark at a workshop on agri-tourism in Hanoi on March 30. The event was part of the Vietnam International Travel Mart (VITM) 2018. Phuong said tourism and agriculture are two spearhead sectors that the Party and State prioritise in the country’s socio-economic development orientation. In the time ahead, the policies on new-style rural area building and high-quality agriculture development will be favourable conditions for tourism to develop. Over the past time, a number of organisations and individuals in many localities have made use of agricultural factors to develop tourism. Many tourism products imbued with … [Read more...] about Agri tourism development – inevitable trend in Vietnam