RoK firm seeks investment opportunities in Hau Giang

The Vietnamese Party and State have issued new guidelines and policies on overseas Vietnamese, always emphasising that overseas Vietnamese are an important and indispensable part of the Vietnamese nation and the country’s common development. Every year, Party and State leaders and local authorities organise New Year home-comings for Vietnamese nationals in the hope that they will understand the real situation at home and join hands with the entire Party and people to build Vietnam into a powerful, prosperous and democratic country. This year, a welcome ceremony for overseas Vietnamese returning home for Tet will be held at the National Convention Centre in Hanoi on February 9 (the 22ndlunar December), it is expected to attract a record number of around 1,000. 2006 was a year which made new breakthroughs in Vietnam’s Doi Moi (Renovation) and international integration process, with notable events such as the successful organisation of the 14th APEC Economic Leaders’ Meeting, the country’s becoming the 150th member of the World Trade Organisation (WTO), and the US approval of Permanent Normal Trade Relations (PNTR) with Vietnam. These events have added to the successes the country has achieved during the 20 years of renovation in line with the Party and State’s correct guidelines and policies, which are winning the trust of Vietnamese nationals and international friends. In recent years, relations between Vietnamese living in the country and those Vietnamese abroad have become closer through programmes and projects under which overseas Vietnamese have shared difficulties with those people suffering great losses from…... [read more]

Mr Khoan said that thanks to implementing the Doi Moi (Renewal) process during the past 20 years, Vietnam has shifted its planned economy towards the market mechanism, which is currently developing dynamically with GDP growth rate last year reaching 8.4 percent. The country is now able to export large volumes of rice, coffee, tea, seafood, woodwork, garments, footwear and electronics products. He said Vietnam is finalising its legal system in line with international norms and practices, as when the country prepares for admission to the World Trade Organisation. With the Investment Law, which has been revised several times, Vietnam has attracted over US$50 billion worth of investment capital from more than 60 countries and territories, Mr Khoan noted. Mr Khoan told more than 100 Vietnamese and Spanish businesspeople attending the forum that Vietnam is integrating deeply into the world economy. The country joined the ASEAN Free Trade Area (AFTA) which boasts approximately 500 million consumers. The country, together with ASEAN member countries, is negotiating the establishment of free trade areas with China, India, Japan and many other Asian countries. It is also an active member of the Asia-Europe Meeting (ASEM) and the Asia-Pacific Economic Co-operation (APEC). Vietnamese and Spanish businesspeople attend the forum He asked businesspeople of the two countries to seize new opportunities on the back of the growing ties between Vietnam and Spain to boost co-operation for mutual benefit. Spanish King Juan Carlos said Vietnam’s economic reform programme has been progressing, especially through the approval of such important…... [read more]

The delegation held sessions with more than 200 representatives from leading financial and banking groups, investment funds, entrepreneurs and lawyers to introduce Vietnam and Hanoi’s investment attraction policies as well as priority projects calling for investment in Hanoi. Notably, Hanoi signed trade promotion agreements with London and Washington at a two major workshops held in the two capital cities. It also signed cooperation agreements with other UK and US partners in commodity exports, infrastructure construction and telecoms, legal representation and the establishment of representative offices in New York. About 30 US entrepreneurs will come to Hanoi from October to seek investment and trade cooperation opportunities. During sessions with authorities from Stockholm, WashingtonDC and San Francisco, the Hanoi delegation was briefed on experience in urban management models, architecture planning and public transport development.... [read more]

The Prime Minister applauded the province’s 10.8 percent GDP growth in the first half of the year compared to the same period last year. He required the provincial authorities to speed up investment in Nhon Hoi Economic Zone and seaports to help the province develop quickly and sustainably. He asked Binh Dinh province to control inflation to stablise the economy, ensure social welfare and maintain sustainable growth by pushing up production and exports in the second half of the year. The provincial People’s Committee needed to solve problems relating to enterprise production loans and investment attraction policies, especially export barriers, to reduce costs and raise the province’s competitiveness, said the PM. The province should tighten control over prices while ensuring residential stability through poverty reduction and job promotion programmes, he added.... [read more]

At a November 18 reception for the Korean guest, Deputy PM Phuc praised Kumho Asiana Group for its positive contributions to social activities such as providing scholarships for Vietnamese students and expanding effective cultural and education co-operation in the country. Phuc also affirmed Vietnam’s eagerness to improve better the investment and business environment aiming to attract foreign businesses, including those from the Republic of Korea like Kumho Asiana Group. Park Sam Koo in turn told his host that Vietnam’s improved investment attraction policy has created more favorable conditions for foreign businesses to operate effectively. “With its corporate social responsibility, Kumho Asiana Group will continue to launch activities helping promote the Vietnam-Korea relationship to a higher level." he added.... [read more]

Deputy Prime Minister Nguyen Thien Nhan delivered this message at a ceremony held in Ho Chi Minh City on March 16 to mark the 8th founding anniversary of the Quang Trung Software City. Whilst reiterating the government’s commitments to developing the IT industry, Mr Nhan requested the Quang Trung Software City to submit its plans for development until 2015 with a vision through 2020, so that the government can decide on state budget allocation for the park. The Quang Trung Software City needs to continue improving its infrastructure standards, investment attraction policies, services and a system for training and provision of high-quality human resources, as well as carrying out a roadmap to lower prices for post and telecommunications services, the deputy PM said. After eight years of operation, the Quang Trung Software City has drawn 104 software and IT training companies which employ more than 3,500 engineers and experts. Approximately 9,000 students have pursued IT training courses offered by the software park.... [read more]

Vietnamese Ambassador to Italy Dang Khanh Thoai outlined Vietnam’s investment attraction policy over the past few years and its great demand for the manufacturing machinery, which plays a key role in its process of national industrialisation and modernisation. Businesses from the Emilia Romagna region showed keen interest in investment in Vietnam and acknowledged the country as a potential and lucrative market for small and medium-sized enterprises in the region. Vietnam wants Italy to help it with the training of skilled workers and hopes Italy will take part in bidding activities for major industrial projects in Vietnam, said Mr Thoai. In 2010, Emilia Romagna will consider Vietnam an important target for investment and expansion. Italy’s investment in Vietnam is still far from matching both countries’ potential. Last year Italy ranked 33rd among countries and territories investing in Vietnam, with 43 projects capitalized at US$162 million.... [read more]

At the conference held in Binh Duong southern province on December 27, participants were informed about foreign businesses’ interest in investment in Vietnam in general and in each southern locality in particular. They showed their optimistic about the increasing flow of foreign direct investment (FDI) into Vietnam in 2011, with southern provinces to play the leading role. The conference agreed that many things have been done to improve the connectivity between domestic agencies and Vietnamese trade promotion offices abroad. Local authorities should provide more information on their investment attraction policies and conditions of infrastructure and human resources. According to the Ministry of Planning and Investment, the country attracted US$18.6 billion in FDI in 2010 despite the global economic slowdown. Binh Duong province alone, with good technical infrastructure, saw nearly US$1 billion poured into 104 newly-licensed projects and 135 existing projects. The province so far has 2,006 FDI projects with a combined registered capital of US$13.7 billion.... [read more]

EU approve PCA signing with Vietnam Prospects for Vietnam-France ties under new French government Participants at the event focused their discussions on bilateral trade ties, Vietnam’s policies on trade, investment and economic development, and its legal environment, as well as investment opportunities in the Southeast Asian country. Vietnamese Deputy Minister of Industry and Trade Nguyen Thanh Bien said that Vietnam aims to increase its trade turnover with France by three times compared to 2010, to reach US$500 billion by 2020. To achieve the target, he said, it is essential to implement five synchronous measures, including boosting production, expanding markets, adjusting investment attraction policies, developing infrastructure, and promoting human resource training. Bien highlighted the European Union (EU)’s vital role in promoting economic and trade relations with Vietnam and other countries and regions around the world. Despite recent fluctuations in the global market, Vietnam’s total export value from France, one of its key EU markets, hit over US$500 million in the first four months of this year, he noted. Vietnamese Embassy envoyBui Tien Hue stressed the need to build a more effective Vietnam-France partnership in the near future, especially in 2013 when the two countries will celebrate the 40th anniversary of diplomatic ties. The seminar was jointly held by the Vietnamese Embassy in France and the Paris Chamber of Commerce and Industry (CCIP) with the theme“Vietnam – France’s important trade and industry partner in Southeast Asia”.... [read more]

During the working session on November 16, provincial authorities introduced the province’s potential, its investment attraction policy, and some of its recent achievements. They also asked Japanese enterprises to help their province manage and upgrade seaport systems in the area. Ido Toshizo described Vietnam, particularly Ba Ria-Vung Tau, as an ideal destination for investment promotion and cooperation. The governor added that Ba Ria-Vung Tau Province’s convenient location along sea, land, and air routes increases the potential for collaboration. The delegation embarked on a fact-finding tour to the international Tan Cang-Cai Mep Terminal and the VinaKyoei steel company in Tan Thanh district. The Hyogo prefecture is internationally renowned for its trademarks and major facilities like Kobe, one of the most busiest ports in the world.... [read more]

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