Foreign investment advisory service

1. We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 31 July 2019 at the 52nd ASEAN Foreign Ministers’ Meeting (AMM) in Bangkok. We underlined the need to further strengthen cooperation and advance our partnership to ensure sustainability in all dimensions for ASEAN amidst the rapid changes in Southeast Asia and beyond.   ASEAN COMMUNITY-BUILDING 2. We reaffirmed our commitment to the full and effective implementation of the ASEAN Community Vision 2025 and the ASEAN Leaders’ Vision Statement on Partnership for Sustainability. We reaffirmed the importance of maintaining ASEAN centrality and unity in our community-building efforts, engagement with external partners and regional architecture. We commended the ongoing work of all ASEAN Sectoral Bodies and Organs for progress in the implementation of the ASEAN Political-Security Community (APSC), ASEAN Economic Community (AEC), and ASEAN Socio-Cultural Community (ASCC) … [Read more...] about Joint Communique of 52nd ASEAN Foreign Ministers’ Meeting

The first Vietnam Travel & Tourism Summit will take place at the Intercontinental Landmark72 hotel in Hanoi on December 5-6 in the framework of the Vietnam Economic Forum (ViEF) 2018. Held by the board for private economic development research (IV Board under the Government’s Advisory Council for Administrative Procedure Reform), the online newspaper VnExpress and the Vietnam Tourism Advisory Board (TAB), the event is expected to draw 1,500 guests, who are managers, business operators and scholars. To enhance international cooperation and popularise local tourism, the organising board has invited leaders of renowned tourism and service groups like Australia’s Flight Centre, Virgin, Japan’s H.I.S and Singaporean Banyan Tree. The forum offers opportunities for domestic and foreign businesses to learn about Vietnam’s strategies to develop tourism, as well as the potential of and challenges facing the non-smoke industry. Various issues will be on the … [Read more...] about Hanoi to host first Vietnam Travel & Tourism Summit

Naoyuki Yoshino, dean of the Asian Development Bank Institute (ADB Institute). — Photo courtesy of Naoyuki YoshinoViet Nam News Việt Nam is seeking more private investment to finance infrastructure projects, but it also needs to generate higher returns on those investments. Naoyuki Yoshino, dean of the Asian Development Bank Institute (ADB Institute), spoke to Việt Nam News reporters Bồ Xuân Hiệp and Nguyễn Việt Dũng about ways to attract private funds for infrastructure development. What is the importance of infrastructure development in Việt Nam? Infrastructure projects generate other benefits in addition to operating revenue like toll fees. For example, a highway may benefit a company through cost savings and increase sales from faster transport of raw materials and final products, as well as generate usage fees. In many developing countries in Asia, including Việt Nam, I’ve observed heavy traffic … [Read more...] about VN seeks new ways to attract private funds for infrastructure projects

Sectors from education and banking to retail and real estate can be winners in M&A, Photo: Le Toan"> Sectors from education and banking to retail and real estate can be winners in M&A, Photo: Le Toan The last decade up to 2018 was a robust one for cross-border mergers and acquisitions (M&A) deals in Vietnam, with $50 billion worth of deals signed and investors all over Asia flocking into the fast-growing market via local partnerships. However, there are signs of a slowdown in action, as in the first half of 2019 deal value in Vietnam was only $1.9 billion – or half of the on-year figure. At last week’s Vietnam M&A Forum 2019 held by VIR and AVM Vietnam, experts from various sectors, policymakers, and corporate leaders discussed the matter in depth, under the theme “Going for Breakthrough”. Three panel discussions touched on different aspects of M&A in Vietnam, but all strived to figure out the next driver of growth for the domestic … [Read more...] about Higher standards sought for M&A

Plastics industry confident of achieving 3.2 billion USD export target The local plastic industry, with solid growth in shipments, will surely meet its yearly export target of 3.2 billion USD, according to the Vietnam Plastics Association. According to Ho Duc Lam, its chairman, said exports saw impressive growth last year to 3 billion USD while overall revenues jumped to 12 billion USD. “Exports in the first nine months of the year increased by 5 percent and will continue to enjoy good growth in the rest months of the year. “The US-China trade war has offered opportunities to Vietnamese plastics firms to boost exports.” According to the association, exports go to more than 150 countries and territories, with the US and Japan being key markets. In the domestic market, some industries, even those such as aerospace which use high-grade materials, are shifting to plastic products, and as a result sales have grown rapidly, Lam said. Locally-made plastic products are … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES OCTOBER 16