Long term partner

/ December 17, 2020

Big step with long-term and strategic impact

The Hanoitimes - The UK and Vietnam announced on December 11 the conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA). The negotiations went quickly and were effective. The final results have been very important for the two sides and impressive for all: The UK and Vietnam a n nounced on December 11 the conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA). British Ambassador to Vietnam Gareth Ward attends the UK company's headquarter in Ho Chi Minh City. In the face of the coronavirus pandemic, of the perspectives of Brexit and of the fact that the free trade agreement between Vietnam and the EU (EVFTA) which the UK will soon leave totally already was took into effect on this year's August 1, this agreement implies a big step with long-term and strategic significance for both the UK and Vietnam. First of all, the UKVFTA is a clear new sign of the good and trustful relationships between the two countries. It demonstrated how strategically important the one is for the other just in today's world. Both negatively impacted by the pandemic, Vietnam and the UK need new impetus for effectively enhancing their fight against the pandemic, to strengthen their economic growth and bilateral trade. The UKVFTA will give them new opportunities, proper ways and promising means to successfully tackle these challenges. But there is more than only that, for both sides. The UK is no longer in the EU. The terms and contents of the UKVFTA are mostly common with those in the EVFTA. That helped the UK and Vietnam to have had been able to quickly concluded their negotiations and continue their cooperation after Brexit as like as before Brexit. It is very important for Vietnam after Brexit because as member of EU, the UK is Vietnam's second-largest trade partner, and for the UK because after Brexit it needs more than ever traditional trade partners like Vietnam. The UKVFTA will improve Vietnam's economic and trade competition …

/ February 12, 2021

Amazon’s Vietnamese partner reports surge in profit

It reported record revenues of VND3.45 trillion ($150 million), up 36 percent from 2019, and net profits of VND308 billion for the year. Gilimex’s main products are handbags and backpacks. It tied up with Amazon, the world's largest online retailer, in 2016 and seen average revenues grow at 20 percent a year since then. Its other large foreign partner is Swedish furniture retail giant IKEA with whom it has eight long-term contracts worth $16.2 million. The firm also develops new products for Dutch baby products maker Bugaboo and Puma, the German multinational that manufactures athletic and casual footwear, apparel and accessories. …

/ November 9, 2019

Vietnam considers S.Korean business community strategic partner for economic restructuring

The Hanoitimes - Vietnam wants to be an active player in the Industrial Revolution 4.0 (IR4.0) and hopes South Korean companies to develop I4.0 products in Vietnam, said Deputy Prime Minister Trinh Dinh Dung. Vietnam considers the South Korean business community a strategic partner for economic restructuring and innovation towards greater growth quality and national competitiveness, according to Deputy Prime Minister Trinh Dinh Dung. Deputy Prime Minister Trinh Dinh Dung (r) and Joo Hyung-chul (l), chair of the Special Committee for South Korea’s New Southern Policy. Source: VGP The future of the Vietnam – South Korea relations relies on vision, self-motivation and dynamism of two countries’ enterprises, Dung said at the Vietnam – South Korea business summit held on November 9 at the Chu Lai Economic Zone in the central province of Quang Nam. The event was jointly chaired by Dung and Joo Hyung-chul, chair of the Special Committee for South Korea’s New Southern Policy, along with the attendance of over 250 major South Korean companies and Vietnamese peers. Dung said the Vietnam – South Korea relationship is at its peak, thanks to the friendship and joint efforts from the two governments and citizens from each country. South Korea remains Vietnam’s top investors with 8,190 projects with combined registered capital of US$65.7 billion, making significant contributions to Vietnam’s core economic sectors such as electronics, energy, automobile, construction, services, among others. Additionally, South Korea is also one of Vietnam’s major trade partners with bilateral trade turnover of US$65.8 billion in 2018, and US$44 billion in the first eight months of 2019. “Vietnam welcomes South Korea’s New Southern Policy with a focus on the people and peace that promotes prosperity, in which Vietnam is considered a key partner,” Dung said. In the context of the Fourth Industrial Revolution, Vietnam is transforming itself into a digital …