Where a rapidly expanding economy has led to a boom in consumerism

The Vietnamese Deputy Defense Minister also had talks with other high-ranking officials of the host country, including Defense Minister Delfin N. Lorenzana, National Security Adviser Hermogenes Cendana Esperon Jr., and Executive Director of the Cabinet Cluster on security, justice, and peace at the Office of the Presiden, Emmanuel T. Bautista. During the dialogue and talks, Filipino officials highly appreciated the visit to the Philippines by the Vietnamese military delegation, led by General Vinh. They emphasized that the bilateral defense cooperation has contributed considerably to expanding the strategic partnership and stressed that Manila prioritizes cooperation in all spheres, including the defense sector, with Hanoi, as the two countries share many common strategic interests and challenges. Senior Lieutenant General Nguyen Chi Vinh (L) and Filipino Defense Minister Delfin N. Lorenzana The host officials took this occasion to express a deep thanks to … [Read more...] about Vietnam, Philippines seek to expand defense ties

Famous names in the market include Keppel Land and CapitaLand, with the first high-end real estate projects in the country such as The Estella and The Vista. The total supply of high-end apartments in Ho Chi Minh City as at the end of 2007, at approximately 1,700 units, of which about 1,000 units were from FDI projects, was a very small proportion compared to the city's population of 6.85 million at that time. “Since the market share of FDI projects is not high, the average price of high-end primary stocks in 2007 was at US$2,800 per sq m (at an exchange rate of VND16,112), representing an increase of 86 percent compared with sales launches in the previous year,” according to Khanh Nguyen, Associate Director, Capital Markets of Vietnam, at JLL.  “This created a supply-demand imbalance that pushed prices beyond the affordability of homebuyers with real demand. There has been a long queue of buyers trying to compete for the very limited availability of these … [Read more...] about High-end residential the top choice of foreign investors

Workers place shrimp containers at the Minh Phu Seafood Corp’s factory in the southern most province of Ca Mau. (Source: VNA) The plan hopes to improve the quality, efficiency of production and competitiveness of Vietnamese shrimp products, in a bid to benefit farmers, businesses and the country’s economy. According to the action plan, the domestic shrimp industry is expected to gain US$5.5 billion in export value and record an annual average growth of 10.79% in 2017-20, including US$4.5 billion from brackish water shrimp exports.  The total area rearing brackish water shrimp is estimated to reach 710,000ha, with total output of 850,000 tonnes of shrimp during 2017-20, and expand to 750,000ha and 1.1 million tonnes of output in the period from 2020-25. Meanwhile during the period of 2017-20, the industry will have a total area of 30,000ha rearing giant freshwater prawn with total output of 30,000 tonnes and one million cubic metres of cage rearing lobster with … [Read more...] about Vietnam’s shrimp industry to become key economic sector

Vietnam's emerging startup scene is proving to be a case of right place, right time for local and international venture capital funds. Eleven “rising star” startups in Southeast Asia in September converged at the “500 Startups Demo Day” in Ho Chi Minh City to spotlight the dynamic technology landscape in Vietnam and broader Southeast Asia. “There’s more hype about Vietnam’s tech scene now than ever before, as this is an exciting time for Vietnam overall,” said Mr. Eddie Thai, General Partner at 500 Startups Vietnam. “Vietnam is fast becoming an attractive destination for local and international venture capital funds, who are hoping to capture the growing consumer opportunities and leverage the Vietnamese entrepreneurial spirit.” Rising appetite Vietnam’s startup sector is growing at a rapid clip despite the global economic slump and is closing the gap with regional leaders. In only two years, it has made a big leap … [Read more...] about Startups catching the eye

Tra fish exports to Russia slump Export revenue of tra fish to the Russian market in the first 10 months of this year fell 31 percent compared to last year to 12.5 million USD, reported the Vietnam Association of Seafood Exporters and Producers (VASEP). According to the association, the sharp drop followed last year’s declining trend, and was likely to continue for the rest of 2019. VASEP said that in the last two years, Russia’s tra fish consumption has been modest, with unstable import prices. Meanwhile, the European country’s imports of frozen tra fish fillets have increased slightly by 3 percent, but that of frozen whole fish have fallen 29 percent./. Conference on boosting exports to China They were speaking at a recent conference on agricultural, forestry and seafood exports to China in Mong Cai City in the northern province of Quang Ninh. The conference was organised by the Ministry of Agriculture and Rural Development in collaboration with the People's … [Read more...] about BUSINESS NEWS HEADLINES DECEMBER 6