Italian and Vietnamese prime ministers Giuseppe Conte and Nguyen Xuan Phuc held bilateral talks to raise two-way trade between the countries., photo VNA During bilateral talks between PM Conte and Vietnamese counterpart Nguyen Xuan Phuc in Hanoi, the two leaders agreed on the trade turnover targets, while promoting hopes that the EU-Vietnam Free Trade Agreement (EVFTA) is soon approved so that trade relations between Vietnam and the EU, and with Italy in particular, will develop in depth based on their mutual benefits. “The Vietnamese government will facilitate Italian investors to co-operate with local counterparts so that together they can build Vietnam as the hub of technologies in the ASEAN,” said PM Phuc. Meanwhile, PM Conte said that Vietnam is interested in mechanical products with quality and sustainability which Italian products can meet. “Italian businesses are willing to co-operate with Vietnamese partners to ensure the quality and sustainability of … [Read more...] about Italian trade ties take off via tech and SME tie up
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As the global demand increases, Vietnam is competing to become an ideal investment destination for the solar segment, Photo: shutterstock Last week, the United States’ TTI Group showed its interest in building a $150 million solar photovoltaics (PV) factory in Saigon Hi-Tech Park in Ho Chi Minh City. This would become the group’s second investment in a PV solar factory. This increased investment comes amid higher global demands as well as companies wanting to lower costs and to void anti-dumping issues. According to the European Commission’s 2017 PV Status Report, the compound annual growth rate over the past decade was over 40 per cent, making photovoltaics one of the fastest growing industries. Solar PV systems are today recognised as a promising form of renewable energy technology. The overall market for PV solar is expected to continue to grow globally while the cost of installing and making solar panels continues to drop. This growth has led First Solar, one … [Read more...] about Race hots up over solar panel manufacturers
In Vietnam today, the phrase “Fourth Industrial Revolution” (Industry 4.0) has become a catchphrase everywhere and at anytime. Its marvelous achievements reflect the superior development of human intelligence, while signaling that the era of depending on abundant labour forces and natural resources is gradually coming to an end. Industry 4.0 has brought about significant benefits, with the areas of production modes and structure, labour, consumption, lifestyle, national governance methods, international relations and means of war having transformed remarkably. But everything has two sides. It is the source of so many implications, such as the risk of unemployment, weakened cohesion between people, including in the family, cybersecurity risks, and high-tech crimes, threatening the peace of every nation and individual. In order to fully tap into the benefits brought about by Industry 4.0 and prevent its consequences, the decisive factor is still humans. People talk a lot … [Read more...] about What will 2019 be like?
Conference seeks ways to boost Vietnam - Barcelona business connection A trade conference connecting firms of Vietnam and Spain’s Barcelona region was held in Hanoi on November 12. The event, jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Port of Barcelona, created a chance for businesses of the two sides to meet and seek cooperation. According to the VCCI, investors from Spain have paid increasing attention to Vietnam with their strengths in renewable energy, infrastructure, tourism, high technology, construction and architecture. Vietnam is Spain’s leading trade partner among the ASEAN countries. In the past 10 years, two-way trade increased 15 percent a year, hitting over 3 billion USD in 2017. The two sides aim to lift the figure to 5 billion USD by 2020. VCCI Vice Chairman Hoang Quang Phong said the countries’ achievements over the years are remarkable but still modest. Hence, Vietnam welcomes businesses from Barcelona to explore its … [Read more...] about BUSINESS NEWS IN BRIEF 14/11
In the last few days, Phan Van Hieu, the 40-year-old chairman of CVI Cosmetic and Pharmaceutical JSC (CVI Pharma) – a young player in the Vietnamese pharmaceutical industry – and his team have been negotiating with Bao Long Herb Medical Group to complete the acquisition of a 70 per cent stake in Bao Long – a powerful herbal brand. “Owning about 100 remedies, Bao Long will be a stepping stone for us to boost our footprint by combining remedies of 1,000 years of traditional experience with high-tech oriental medicine,” he told VIR. This is the second mergers and acquisitions (M&A) deal at CVI Pharma in the last two years, following the 2017 deal in which Japan’s Daiwa-SSI acquired 20 per cent of CVI’s stakes. In Vietnam, the market is divided into two segments: the segment of competitive drugs with a value exceeding VND1 trillion ($44.25 million) each, which is dominated by leading drug makers, and the niche segment, which covers drugs that … [Read more...] about Rising through the pharma ranks by focusing on a niche segment