Phoenix project vietnam

(Illustrative photo: VNA) Hanoi (VNA) - Economists are upgrading their growth projections for Vietnam after the latest data showed the economy surged more than 7 percent in the third quarter, according to Bloomberg.economic expansion to 7 percent from their previous prediction of 6.8 percent. Meanwhile, United Overseas Bank Ltd. changed to 6.8 percent for the year from 6.7 percent, and Capital Economics Ltd. kept their projection of 7 percent, Bloomberg said. retail sales growth”, will keep the momentum going through the year-end and in early 2020. VNA … [Read more...] about Int’l economists optimistic of Vietnam’s GDP growth

Yellow card pushes seafood industry developing sustainably Vietnam’s seafood exports have been seriously affected since the European Commission issued an official warning against illegal, unreported and unregulated (IUU) exploitation of Vietnamese seafood. The European Commission’s yellow card has seriously affected Vietnamese seafood firms, resulting in a downturn in export value to the EU and a shortage of input material. Given these acute challenges, this company has still raked in six million USD, recorded 12 percent export growth in the first eight months of 2019. This success looks like a timely change in tactics. The EU is no longer Vietnam’s second biggest seafood importer. With import value of 251 million USD, it now stands in fifth position. According to the Vietnam Association of Seafood Exporters and Producers, seafood exports to the EU have fallen, but have witnessed growth in other markets. Seeing the challenge as an opportunity to restructure, the … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES OCTOBER 17

Billion-dollar smart city will express the spirit and vision of a new Hanoi Vietnamese developer BRG Group and Japan’s Sumitomo Corporation have officially announced their US$4.2 billion smart city project on the outskirts of Hanoi. Through a 50/50 joint venture, a whopping 270 hectares of land located some 20 minutes from the city will begin development early next year and is expected to be complete by 2028. The smart city will be state of the art in that it will employ Industry 4.0 technology such as the Internet of Things to ensure energy is conserved. It will also feature surveillance cameras that come with the capabilities to recognise faces together with AI. Reality a long-term vision Marking the first milestone of the North Hanoi Smart City Project just before the 65th anniversary of Hanoi’s Liberation on October 10, Nguyen Thi Nga, chairwoman of BRG Group said, “We build a smart city not for our generation, but for many Vietnamese generations of the future. … [Read more...] about VIETNAM NEWS HEADLINES OCTOBER 16

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

Spanish investors increasingly pay attention to Vietnam Over the past 42 years, Vietnam and Spain have inked diverse co-operation agreements and deals. Hoang Quang Phong, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnam is Spain's main trade partner in the ASEAN, with two-way trade turnover increasing by 15-20per cent per year on average. Specifically, bilateral trade revenue amounted to $3.7 billion in 2018. The two sides set the target to elevate trade turnover to more than $5 billion by 2020. Regarding development co-operation, Spain fosters comprehensive relations with Vietnam which received pledges of$300 million of Official Development Assistance (ODA) for bilateral and multilateral co-operation projects for over 10 years. Currently, Spain continues to bump up about $350 million for infrastructure development projects in Vietnam. In a meeting with Spanish Prime Minister Pedro Sanchez in October 2018, Vietnamese Prime Minister Nguyen Xuan … [Read more...] about Spain looks into further investment in Vietnam