Vietnam australia business development

The Vietnam – UK Business Forum takes place in London on May 25. (Photo: VNA) He made the statement when delivering an opening remark at the Vietnam – UK Business Forum held by the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development in collaboration of the UK Department of International Trade (DIT) in London on May 25. The forum discussed prospects for trade and investment between the two countries’ enterprises in agriculture, education, renewable energy and others. It also provided a platform for Vietnam to introduce its market potential to British investors and for firms from both sides to share information and seek partnerships to make the most of the UK-Vietnam Free Trade Agreement (UKVTFA). The UK remains a major and trusted partner of Vietnam and its agriculture industry, Tien said, noting that agricultural cooperation between the two nations has made significant progress over recent years. He expected British companies will form close … [Read more...] about Vietnam, UK strive to lift trade and investment relations

At a Vietnamese class in Australia (Photo: Baoquocte.vn) Sydney (VNA) – The promotion of learning Vietnamese as a foreign language helps raise public interest in Australia regarding the importance of Vietnam as a strategic partner in relation to business and investment, agriculture and food manufacturing, and education and training, experts held. In their joint article run recently in the website of the Australia -Vietnam Policy Institute, Dr. Melissa Jardine, the Chair of the Board of Directors at the Australia Vietnam Leadership Dialogue (AVLD) and Dr. Tran Hong Van, Adjunct Research Fellow at Charles Sturt University noted that the Australian Vietnamese community comprises 1.2 percent of Australia’s population, and Vietnamese is among the top four spoken languages other than English (LOTE). While individual and family efforts to maintain Vietnamese language capabilities are observed, there are limitations on its effectiveness, they noted, adding that the children of … [Read more...] about Experts underlines significance of learning, teaching Vietnamese in Australia

Female workers make shoes at Song Than Industrial Park in Binh Duong province’s Di An city. (Photo: VNA) Sydney (VNA) – The Vietnamese Embassy in Australia, the People’s Committee of Binh Duong province and the Victoria state government jointly held a Vietnamese business forum on May 24, aiming to introduce the potential and investment opportunities in the southern Vietnam province. Binh Duong province in particular, particularly those on support for small and medium enterprises. Business Forum in Melbourne, Victoria. Australia 's second largest trading partner with bilateral turnover reaching 113.7 billion AUD (more than 80 billion USD) in 2019-2020. Investment from both sides hit over 259 billion AUD and 242 billion USD in 2019 and 2020, respectively. VNA … [Read more...] about Forum seeks to promote investment from Australia into Vietnam

At the press conference (Photo: VNA) Hanoi (VNA) -  The Vietnam Real Estate Brokerage Day 2022 will take place in Ha Long city in the northern province of Quang Ninh from June 24-25. According to Nguyen Chi Thanh, vice chairman of the Vietnam Association of Realtors (VARS), Vietnamese real estate brokers have played an important role in the rapid, strong and sustainable development of the property market over the last two decades. He underlined the impressive change to Vietnam's property market with thousands of new and modern urban areas, adding that tens of thousands of people have been able to buy new houses every year. Thanh attributed the results to the significant contribution of real estate brokers in Vietnam, noting they have helped stimulate demand and create motivation for property developer s to promote investments. The event is hoped to attract about 1,000 participants from the real estate investment and business community and brokers across the … [Read more...] about Quang Ninh to host Vietnam Real Estate Brokerage Day 2022

The country boasts 335 industrial parks with a combined area of 100,000 hectares, which will be expanded to meet the growing demand of domestic and foreign investors. Vietnam is now ready to receive a new wave of investment capital and become a key global production hub, Deputy Minister of Planning and Investment (MPI) Tran Duy Dong. Electronic production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung “The country’s ongoing push for exports amid rising global demand would solidify Vietnam’s status as one of the most attractive destinations for multinationals and a key link of the global supply chains,” he told the local media. A report from the MPI noted foreign direct investment (FDI) commitments to Vietnam in the first four months of 2022 stood at nearly $11 billion, of which nearly $5.3 billion were poured into fresh projects, up 92.5% year-on-year. Meanwhile, additional capital injected into existing projects also surged by … [Read more...] about Vietnam ready to become global production hub

Illustrative photo (Source: VNA) Hanoi (VNA) - The Bank for Investment and Development of Vietnam (BIDV) and the Asian Development Bank (ADB) on May 25 co-organised a workshop to announce a report on Vietnam’s financial market in 2021 and its 2022 outlook. BIDV Senior Executive Vice President Tran Phuong said it is a result of research by a team of ADB and BIDV experts. This is the first time a Vietnamese financial institution has collaborated with ADB to make a comprehensive assessment report on the Vietnamese financial market, covering the fields of banking, securities, and insurance, he noted. Looking back at 2021, the report states that the world economy recovered quite quickly along with a rapid increase in inflation due to the majority of countries reopening socio-economic activities. The global financial market continued its fast recovery given the new normal condition and strengthened confidence. In that context, Vietnam's economy recovered quite … [Read more...] about BIDV, ADB release report on Vietnam’s financial market

Kang GewWon, General Director of Shinhan Bank Vietnam (left) and Lee Euichul, General Director of Shinhan Life (right), signed an insurance business partnership on May 24. — Photo Shinhan Bank Vietnam Shinhan Life Insurance Vietnam Limited Liability Company (Shinhan Life Vietnam) and Shinhan Bank Vietnam Limited (Shinhan Bank) officially signed a strategic cooperation agreement on implementing the bancassurance business model on May 24. The agreement marks a new chapter full of expectations for two financial organisations with mutual plans to bring living improvement solutions to a million Vietnamese people. Under the framework of the new agreement, Shinhan Bank Vietnam will consult and introduce life insurance products of Shinhan Life to the bank's customers nationwide. The first product developed through this distribution channel is Shinhan – Credit, a protection product for borrowers. “In recent years, customers' demand for insurance products at the bank has expanded … [Read more...] about Shinhan Life Vietnam, Shinhan Bank Vietnam sign partnership

The three-year-old unit of conglomerate Vingroup JSC will start building its VF8 sport utility vehicle (SUV) next week, its own EV batteries in August, and a $4 billion U.S. factory by summer-end, Le Thi Thu Thuy said in an interview. VinFast has filed for an initial public offering (IPO) in the United States through a Singapore-based holding company - though market conditions might push the deal into 2023, Vingroup Chairman Pham Nhat Vuong said earlier this month. Thuy declined to comment about the IPO when asked, but said the company's EV expansion plans were not contingent on the listing. "Like any big corporate, we always consider all potential financing transactions," Thuy said. The CEO said she planned to spend more time in Singapore, where VinFast is buying a building, turning its holding company into an operating hub that would include an office and housing for staff and executives. "We feel that Singapore is a jurisdiction that will give investors more confidence," … [Read more...] about Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports

Vietnam’s internet economy was valued at about 21 billion USD in 2021, contributing to 5 percent of GDP and rising seven-fold from 2015. An overview of the summit (Photo: VNA) The information was released at the Vietnam - Asia Digital Transformation Summit (Vietnam - Asia DX Summit) 2022 that opened in Hanoi on May 25. Nguyen Van Khoa, Chairman of the Vietnam Software & IT Services Association (VINASA), said the internet economy’s size last year showed that despite the COVID-19 pandemic’s impacts, digital transformation has generated strong growth for the digital economy. Vietnam now has a chance to promote the internet economy, especially by applying and developing digital transformation applications and platforms, he added. He considered the Government’s target for the digital economy making up 20 percent of GDP by 2025 as a big challenge to all sectors, especially digital technology companies. To quickly boost the digital economy, … [Read more...] about Vietnam’s internet economy worth 21 billion USD last year

The Van Phong 500kV transformer station under construction in Khanh Hoa province (Photo: VNA) Hanoi (VNA) – Vietnam Electricity (EVN) said it will make adjustments to the power grid to ensure power supply for daily public energy use in the second quarter - the peak of the dry season, when power generation becomes a serious issue. Daily consumption in April was estimated at 779 million kWh while load power stood at about 42,124 MW, rising 5.3 percent year on year. Difficulties are likely to linger on this season in terms of coal supply for thermal power plants . The State-owned group said coal shortages were recorded in Q1, at 1.36 million tonnes lower than the contracted volume, forcing thermal power plants to cut turbines, reducing output by 1.365 billion kWh. Facing that reality, the firm worked with coal suppliers to find solutions and reported the problem to authorities. EVN flexed its fleet of hydropower plants so as to guarantee both power generation … [Read more...] about Vietnam Electricity gearing up to keep lights on for dry season