According to forecasts of BMI Research, Vietnam’s food industry is expected to achieve annual growth of 10.9% in 2015-2020. Vietnam’s food industry is expected to achieve annual growth of 10.9% until 2020. Numerous international players, especially those from countries that Vietnam signed free trade agreements with, have been seizing the opportunity to enter the Vietnamese food market to take advantage of the deals. Keith Colwell, Canadian Nova Scotia’s Minister of Agriculture and Minister of Fisheries and Aquaculture, said that Canadian food businesses have shifted their focus to Vietnam after developments in the Chinese market and thanks to tariff reductions under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These companies want to bring high-end Canadian products like seafood, agricultural products and beverages to new markets like Vietnam, Colwell said, explaining that tariff reductions under the CPTPP have … [Read more...] about Trade deals trigger foreign investments in Vietnam’s food sector
Jacinda ardern foreign investment
The cyber-physical learning factory of Festo. — Photo courtesy of the company Festo, a German supplier of automation technology and technical education, plans to expand investment in Viet Nam to take advantage of the increasing foreign investment and production in the country. Ansgar Kriwet, member of the management board of Festo, said Viet Nam has the fastest growing economy in Southeast Asia with a growth rate of 6.5 per cent. Manufacturing is its strongest sector and accounts for more than 50 per cent of FDI, he said. As Asia’s new manufacturing hub, Viet Nam requires strong support from motion automation, he said. Putting industry 4.0 into action means both intensively investigating new technologies and preparing employees for the challenges of future production, he added. Festo’s cyber-physical systems encompass the new developments of networked production in industry 4.0 and offer a modular smart factory system for teaching and research purposes. In Viet Nam … [Read more...] about Germany automation firm Festo to expand investment in Viet Nam
There are three problems which may make foreign investors shrink when considering investment in transport infrastructure projects in Vietnam. Minister of Transport Nguyen Van The, speaking at the National Assembly session discussing the Investment Law under the PPP mode on November 11, said that the ministry has promoted investments under the mode, but Vietnam can only attract Vietnamese investors. Minister of Transport Tran Van The It has been very difficult to attract foreign investors to large projects. There are three problems which may make foreign investors shrink when considering investment in transport infrastructure projects in Vietnam. First, they want the government of Vietnam to ensure their revenue and share risks with them. As Vietnam’s development plans change regularly, they fear risks. Meanwhile, when they finish projects, one dollar may be exchanged for VND15,000 or VND25,000. Because of the price fluctuations, they may make profit if calculating in … [Read more...] about What do foreign investors worry about when investing in VN infrastructure projects?
A slew of well-known Vietnamese companies often look to making a stock exchange outside the country, but resolving barriers in order to do so remain complex (Photo: VNA) Last week, FLC Group chairman Trinh Van Quyet, announced that his group is ramping up efforts to be listed on the Singapore Stock Exchange (SGX) at the bourse’s 20th anniversary event, a move which he said would “bolster its business, hone its image, and replenish overseas capital.” “The SGX is a top international destination which provides value to businesses that want to extend their overseas ambition,” added Quyet. “FLC aims to become listed on the SGX next year or in 2021.” FLC Group has been preparing to give the go-ahead to proceed with the international share sale for more than two years. Earlier in November, the property developer cancelled the issuance of 300 million shares for its current shareholders. FLC is not the only local group preparing groundwork to file an … [Read more...] about Plucking up courage to enter foreign exchanges
Dung Quat Oil Refinery is developed at Dung Quat Economic Zone in the central province of Quang Ngai The $3 billion Dung Quat is the first-ever oil refinery in Vietnam with an annual capacity of 6.5 million tonnes of crude oil. The refinery applies cutting-edge technologies from the US and the EU and is capable of processing about 57 different types of crude oil with high API quality and low sulfur content. Over the past years, BSR has maintained the stable operation of the refinery at an average output of 103-105 per cent of its designed capacity. The refinery uses 85 per cent of locally-sourced materials and 15 per cent of imported materials. After years of research, BSR evaluated and selected 67 types of crude oil that meet technical standards for processing at Dung Quat. It can process crude oil from different regions of the world such as Azeri (Azerbaijan), Qua Iboe, Escravos, Bonny Light (Nigeria) as well as Te Giac Trang (White Rhino), Su Tu Den (Black Lion), and Chim Sao … [Read more...] about BSR seeks foreign partners for more multifaceted growth