EVFTA opens new era in Vietnam-EU trade ties: Italian experts The factory of the Far Eastern New Apparel Vietnam company in Bac Dong Phu Industrial Park, Binh Phuoc province The EU-Vietnam Free Trade Agreement (EVFTA) is hoped to usher in a new period in promoting cooperation and mutual economic development between the two sides as it comes into effect in mid-2019, according to Italian experts. In a recent interview granted to Vietnam News Agency’s correspondent in Italy, Vietnam’s Honorary Consul in Turin Sandra Scagliotti and Chairman of the Italy-Vietnam Chamber of Commerce Fulvio Albano stressed that the new-generation agreement may mark the beginning of a new era in trade relations between Vietnam and the EU. Negotiations and the legal review have been completed for both the free trade agreement and the one on investment protection. The EVFTA process is now awaiting the Council of Europe and the European Parliament to sign and ratify it. The agreement … [Read more...] about BUSINESS NEWS IN BRIEF 22/1
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BUSINESS NEWS 7/8
PM to chair meeting on wood exports Prime Minister Nguyen Xuan Phuc will chair a meeting on wood processing industry and forestry exports in HCM City on August 8, the Ministry of Agriculture and Rural Development’s Viet Nam Administration of Forestry has announced.The forthcoming event will attract the participation of more than 500 enterprises operating in wood and representatives from foreign and domestic agencies. They will discuss measures for the fast and sustainable development of timber industry in the time to come.Statistics from the administration revealed that the country earned US$5 billion from forestry exports in the first seven months of this year, up 14 per cent year-on-year.The exports fulfilled nearly 56 per cent of the yearly target and made up 22.6 per cent of the total turnover of the agriculture sector.The US, China, Japan and South Korea were the largest forestry importers of Vietnamese timber goods. Other markets with strong growth … [Read more...] about BUSINESS NEWS 7/8
BUSINESS NEWS IN BRIEF 3/8
JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8
Government News 31/7
Deputy PM’s visit to deepen Vietnam-Singapore ties Deputy Prime Minister and Foreign Minister Pham Binh Minh pays an official visit to Singapore from July 30-31. Deputy Prime Minister and Foreign Minister Pham Binh Minh’s official visit to Singapore from July 30-31 is expected to deepen the cooperative and strategic partnership between the two countries, Vietnamese Ambassador to Singapore Tao Thanh Huong said. According to the Ambassador, during his stay, Deputy PM Minh will meet with Singaporean President Halimah Yacob and Prime Minister Lee Hsien Loong, and hold talks with Minister of Foreign Affairs Vivian Balakrishnan. The meetings look to discuss measures to implement agreements reached during Prime Minister Nguyen Xuan Phuc’s visit to Singapore in April, accelerate bilateral cooperation, and promote collaboration between the two countries in the ASEAN framework as well as on regional and international issues of mutual interests. Particularly, Minh and … [Read more...] about Government News 31/7
Government News 28/7
Vietnam wants to foster collaboration with UAE: PM Prime Minister Nguyen Xuan Phuc (R) receives new UAE Ambassador to Vietnam Obaid Saeed Bintaresh Al Dhaheri on July 27 The Vietnamese Government always wishes to bolster its cooperation with the United Arab Emirates (UAE) in all aspects based on each side’s potential, Prime Minister Nguyen Xuan Phuc told new UAE Ambassador to Vietnam Obaid Saeed Bintaresh Al Dhaheri in Hanoi on July 27. Emphasising the great potential for the two countries’ cooperation, the Government leader hoped that during his tenure, the ambassador will do his utmost to foster the strong and effective development of the bilateral relations, in terms of politics, diplomacy, trade, investment, culture, and people-to-people exchange. He affirmed that Vietnamese agencies will create every condition for the ambassador to fulfill his tasks, contributing to developing the bilateral ties in a more practical and effective manner. For his part, Obaid … [Read more...] about Government News 28/7