CEO Confidence Index below expectations

NDO/VNA – The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop. Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future. A survey launched before the forum opened indicates that…... [read more]

NDO/VNA – The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop. Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future. A survey launched before the forum opened indicates that…... [read more]

Construction of the Long Son Petrochemicals (LSP) complex in southern Ba Ria Vung Tau province is scheduled to take four and half years and commercial operations will begin in the first half of 2022, Mr. Roongrote Rangsiyopash, President and CEO of SCG, told a meeting releasing the company’s unaudited operating results for the second quarter and first half of 2017, in Bangkok on July 26. “SCG has recently approved investment in the first petrochemicals complex in Vietnam, Long Son Petrochemicals, with a 71 per cent stake and investment of $5.4 billion, with the Vietnam Oil and Gas Group (PetroVietnam),” he said.   The project consists of state-of-the-art technology to support Vietnam in reducing imports and meeting demand. “Production accommodates a flexible feedstock with an Olefin production capacity of 1.6 million tons per year,” he said. He committed that SCG will continue to expand its business in ASEAN. In Vietnam, SCG’s second quarter revenue from sales totaled $289 million, including sales from both operations in the country and imports from the Thai operations. This represents an increase of 17 per cent year-on-year, mainly from the packaging business. In the first half, SCG’s operations in Vietnam recorded revenue from sales of $532 million, a 17 per cent increase year-on-year. Revenue from the sales of high value added products and services was $2.486 billion, up 5 per cent from the previous year, and accounting for 38 per cent of total revenue from sales. It recently unveiled its “Open Innovation Center”, which enhances science…... [read more]

Ho Chi Minh is set to enhance its cooperation with Laos and spur investment from Vietnamese businesses in the neighboring country. A conference on promoting investment, trade, and tourism was organized in Vientiane on Saturday afternoon, with the attendance of leaders from Ho Chi Minh City and Laos, along with hundreds of Vietnamese and Lao businesses. The delegation from the Vietnamese metropolis was led by Deputy Secretary of the municipal Party Committee Tat Thanh Cang. Speaking at the event, Huynh Cach Mang, vice-chairman of the Ho Chi Minh City People’s Committee, said that many city businesses had operated well in several Lao localities, including Vientiane. A total of 36 companies have expanded their business activities to Laos with the combined capital of nearly US$345 million, Mang continued. Several memoranda of understating were signed between authorities and business organizations from Ho Chi Minh City and Laos during the conference. Deputy Secretary of the Ho Chi Minh City Party Committee Tat Thanh Cang (R) introduces locally-made pottery products to Sinlavong Khoutphaythoune, Mayor of Vientiane. Photo: Tuoi Tre The gathering was part of a series of events named ‘Ho Chi Minh City Days in Vientiane,’ during which leaders from both sides signed MOUs on cooperation in the 2017-20 period. The agreements highlighted the two cities’ ties in multiple fields, including tourism, culture, sports, finance, and others. Deputy Secretary Cang also joined talks with leaders from the Lao capital, addressing measures to…... [read more]

Ho Chi Minh is set to enhance its cooperation with Laos and spur investment from Vietnamese businesses in the neighboring country. A conference on promoting investment, trade, and tourism was organized in Vientiane on Saturday afternoon, with the attendance of leaders from Ho Chi Minh City and Laos, along with hundreds of Vietnamese and Lao businesses. The delegation from the Vietnamese metropolis was led by Deputy Secretary of the municipal Party Committee Tat Thanh Cang. Speaking at the event, Huynh Cach Mang, vice-chairman of the Ho Chi Minh City People’s Committee, said that many city businesses had operated well in several Lao localities, including Vientiane. A total of 36 companies have expanded their business activities to Laos with the combined capital of nearly US$345 million, Mang continued. Several memoranda of understating were signed between authorities and business organizations from Ho Chi Minh City and Laos during the conference. Deputy Secretary of the Ho Chi Minh City Party Committee Tat Thanh Cang (R) introduces locally-made pottery products to Sinlavong Khoutphaythoune, Mayor of Vientiane. Photo: Tuoi Tre The gathering was part of a series of events named ‘Ho Chi Minh City Days in Vientiane,’ during which leaders from both sides signed MOUs on cooperation in the 2017-20 period. The agreements highlighted the two cities’ ties in multiple fields, including tourism, culture, sports, finance, and others. Deputy Secretary Cang also joined talks with leaders from the Lao capital, addressing measures to…... [read more]

NDO – The 2017 Ho Chi Minh City Days in Vientianne, themed ‘Forever green and forever sustainable friendship between Vietnam and Laos’, officially opened in the Lao capital on July 29. The event was attended by Deputy Secretary of Ho Chi Minh City Party Committee Tat Thanh Cang; Lao Politburo member, Secretary of Secretary of the Party Committee and Mayor of Vientiane Sinlavong Khouphaythoune; and Vietnamese Ambassador in Laos Nguyen Ba Hung. Speaking at the opening ceremony, Deputy Secretary of Ho Chi Minh City’s Party Committee Tat Thanh Cang emphasised that Ho Chi Minh City always pay special attention to enhancing the relationship with Laos in general and Vientiane in particular. Regular visits made by leaders of the two cities and the cooperation projects have been successfully implemented, contributing to the prosperous development and fine relations between Ho Chi Minh City and Vientiane, he added. At the ceremony, Mayor of Vientiane Sinlavong Khouphaythoune affirmed that the ‘Ho Chi Minh City Days in Vientiane’ programme will significantly contribute to tightening the friendship, special solidarity and comprehensive cooperation between Laos and Vietnam, particularly the two cities. After the opening ceremony, the delegates visited an exhibition entitled ‘Forever green and forever sustainable friendship between Vietnam and Laos’. On display are photos featuring the support and cooperation activities for socio-economic development between Ho Chi Minh City and Vientiane as well as highlighting Ho Chi Minh City’s achievements in the cause of building and developing the southern city. The exhibition…... [read more]

Hanoi, July 29 (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28.  The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said.  Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said.  He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products.  Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material.  If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said.  Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the year.  According to Phan Thi Dieu Linh, expert from the Department of…... [read more]

Seafood processed at Ngo Quyen Export JSC in Kien Giang for export to Australia. (Source: VNA) Hanoi (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28. The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said. Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said. He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products. Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material. If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said. Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the…... [read more]

Hoang Van Dung, Chairman of ABAC Vietnam. (Source: VNA) Ottawa (VNA) – The Asia-Pacific Economic Cooperation (APEC) needs to become an open, innovative and inclusive region with a long-term vision to create sustainable and inclusive growth, heard the third APEC Business Advisory Council meeting (ABAC III) in Toronto, Canada. In a press release issued after the conference, which was held from July 24-28, ABAC members highlighted four priority fields of intensifying integration and trade liberalisation, speeding up the development of small- and medium-sized enterprises, developing science and technology, and bettering human resources training. They also stressed the need for APEC economies to take action toward the establishment of the Asia-Pacific Free Trade Area based on the results of ambitious regional agreements such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership, and the Pacific Alliance. Talking to Vietnam News Agency correspondents, APEC Executive Director Alan Bollard said that as ABAC III was a meeting of enterprises, delegates discussed a series of issues related to trade and investment and on how to maintain dynamic growth in the Asia-Pacific region. New issues, including e-commerce, development of small enterprises and the role of women in the economy, were also put on table, he added. Chairman of the ABAC Vietnam Hoang Van Dung emphasised the importance of science and technology in the digital era, especially for such developing countries as Vietnam. Within the framework of the conference, a representative from the Vietnamese delegation informed the participants of…... [read more]

NDO/VNA – The Asia-Pacific Economic Cooperation (APEC) must become an open, innovative and inclusive region, with a long-term vision to creating sustainable and inclusive growth, heard the third APEC Business Advisory Council meeting (ABAC III) held in Toronto, Canada. In a press release issued following the conference, which was held from July 24-28, the ABAC members highlighted four priority fields in which to intensifying integration and trade liberalisation, accelerating the development of small and mediumsized enterprises, developing science and technology, and improve human resources training. They also stressed the need for the APEC economies to take action toward the establishment of the Asia-Pacific Free Trade Area, based on the results of ambitious regional agreements such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership and the Pacific Alliance. Talking to Vietnam News Agency correspondents, APEC Executive Director Alan Bollard said that as ABAC III was a meeting of enterprises, delegates discussed a series of issues related to trade and investment and on how to maintain the dynamic growth in the Asia-Pacific region. New issues, including e-commerce, the development of small enterprises and the role of women in the economy, were also put to the table, he added. Chairman of the ABAC Vietnam Hoang Van Dung emphasised the importance of science and technology in the digital era, especially for developing countries such as Vietnam. As part of the conference, a representative from the Vietnamese delegation informed the participants of Vietnam’s preparation works for the APEC Economic…... [read more]




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