Can Tho wants to capitalise on economic chances in AEC

NDO – The ASEAN Economic Community (AEC) and the opportunities the community provides for residents and businesses were discussed at a seminar in Can Tho city on August 18. The event attracted the participation of representatives from the Ministry of Industry and Trade, Ministry of Foreign Affairs, the Steering Committee for Southwest Region and the leaders of the People’s Committees of cities and provinces in Mekong River Delta. Participants at the event were provided with an overview of the AEC, its role and operation, economic cooperation in the AEC, how the community will benefit Vietnamese businesses, in addition to Vietnam’s commitments while joining the AEC. They were also updated on the opportunities and challenges facing the Mekong River Delta, and Can Tho City in particular, since Vietnam joined the AEC. According to Vice Chairman of Can Tho city People’s Committee Truong Quang Hoai Nam, since Vietnam became a member of ASEAN in 1995, ASEAN has opened the door for Vietnam to widely and deeply integrate into the world in all fields of politics, economics, culture and society. By joining the AEC, two-way trade between Vietnam and the AEC member countries has increased annually. As a major centre in the Mekong River Delta, Can Tho city has taken advantage of the opportunities provided by the AEC in order to booster their cooperation with other countries in the region. However, being a member of the AEC has also posed certain challenges for Vietnamese businesses in their operations, goods consumption and competitiveness,…... [read more]

It is predicted that Vietnam may well become a net beneficiary of such capital inflows in the years to come. To demonstrate the less-restricted capital flows currently streaming through the region following the establishment of the ASEAN Economic Community (AEC) in late 2015-which committed to promoting free investment flows and freer capital flows – Sumit Dutta, CEO of HSBC Indonesia, gave an example of one of the lender’s biggest clients in Indonesia. This client visited Vietnam last year to meet with representatives from the top 10 corporates in the country. “Our customer here in Indonesia was interested in two particular sectors, one is the consumer beverages sector and the second is the dairy sector. This particular investor already had a number of businesses in Indonesia, [and is] keen to add [these sectors] to his investment ranges,” Dutta told VIR over the phone after an HSBC regional briefing on ASEAN’s 50th anniversary. According to Dutta, his customer was rather pleased with the prospects of Vietnam as a fast-growing ASEAN market, and client came to this decision after being guided by Dutta’s senior management team across the nation over the course of three days, meeting with representatives from the leading corporates across Vietnam. Indonesian investors are not the only ones with a desire to enter Vietnam. Dutta mentioned others from ASEAN nations such as Thailand, Singapore, and Malaysia that are also seeking the right sectors to get involved with. “We very often find…... [read more]

With a burst of activity during the first eight months of 2017 in the property market, Vietnam  real estate has recently become a preferred destination in the mega trend for mergers and acquisitions. Since the consolidation of governing Vietnamese laws to streamline capital flow from foreign countries while ensuring local business protection, the approaching merger-and-acquisition (M&A) landscape appears more flexible for both sides. Looking ahead, what can we expect from the ample projections for M&A deals in the investment market? In the first half of 2017, Vietnam continued to attract significant foreign direct investment (FDI). FDI disbursement reached $7.72 billion, a rise of 6.5 per cent year-on-year, while registered FDI hit $19.22 billion, up 54.8 per cent. Much of the FDI increase, as usual, went to industrial development in the manufacturing sector. In May, Thailand’s Hemaraj Land & Development’s joint venture with local infrastructure firm Cienco 4 gained approval for a $1 billion, 32,200 hectare industrial park in Nghe An province in central Vietnam. FDI has also been directed to other sectors of the property market contributing to growth and value. Prime office and hospitality segments are showing high occupancy, increased office rents and healthy room rates. While these sectors are gaining more traction among developers, investor focus is still on operating assets – except for prime location development opportunities in Ho Chi Minh City and Hanoi. With limited available stock we are…... [read more]

HCM City, August 9 (VNA) – Businesses should cooperate closely with the Government to usher in a second export wave of products with higher added-value and promotion of brands, participants at a seminar in HMC City said on August 8.  According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is tranforming society, services and trade.  For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to the Republic of Korea’s and Japan’s.  Vietnam’s first export wave, in which businesses exported raw material, is over.  The seminar pointed out that certain foundations would need to be established to successfully develop the second wave.  The first is setting up a system to share know-how innovated with the support of the Government, according to participants.  This kind of sharing will enable companies to access new technologies, talents and scientists.  Thus, all research outcomes must be shared and published so that they could be applied.  The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods.  Thirdly, a competitive infrastructure needs to be developed.  Hoa said one huge thrust would be needed to upgrade roads, bridges, ports, and logistics facilities to serve production and exports.  "But exports cannot…... [read more]

According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is transforming society, services and trade. For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to the Republic of Korea’s and Japan’s. Vietnam’s first export wave, in which businesses exported raw material, is over. The seminar pointed out that certain foundations would need to be established to successfully develop the second wave. The first is setting up a system to share know-how innovated with the support of the Government, according to participants. This kind of sharing will enable companies to access new technologies, talents and scientists. Thus, all research outcomes must be shared and published so that they could be applied. The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods. Thirdly, a competitive infrastructure needs to be developed. Hoa said one huge thrust would be needed to upgrade roads, bridges, ports, and logistics facilities to serve production and exports. "But exports cannot be competitive when traffic jams occur regularly when goods are on the way to airports and ports," and this problem should be fixed soon, he said. Yasuo Nishitohge, general director of Japanese retailer AEON Vietnam, said Vietnamese goods suppliers were constantly improving…... [read more]

Businesses should co-operate closely with the Government to usher in a second export wave of products with higher added-value and promotion of brands, participants at a seminar in HMC City said on Tuesday. Footwear products made at My Phong shoe company in Tra Vinh Province’s Chau Thanh District. Viet Nam is advised to enter a second export wave of high added value products. According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is tranforming society, services and trade. For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to South Korea’s and Japan’s. Viet Nam’s first export wave, in which businesses exported raw material, is over. The seminar pointed out that certain foundations would need to be established to successfully develop the second wave. The first is setting up a system to share know-how innovated with the support of the Government, according to participants. This kind of sharing will enable companies to access new technologies, talents and scientists. Thus, all research outcomes must be shared and published so that they could be applied. The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods. Thirdly, a competitive infrastructure needs to be developed. Hoa said one huge thrust would be needed to upgrade roads, bridges, ports, and logistics…... [read more]

Footwear products made at My Phong shoe company in Tra Vinh Province’s Chau Thanh District. Vietnam is advised to enter a second export wave of high added value products. (Photo: VNA) HCM City (VNA) – Businesses should cooperate closely with the Government to usher in a second export wave of products with higher added-value and promotion of brands, participants at a seminar in HCM City said on August 8. According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is tranforming society, services and trade. For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to the Republic of Korea’s and Japan’s. Vietnam’s first export wave, in which businesses exported raw material, is over. The seminar pointed out that certain foundations would need to be established to successfully develop the second wave. The first is setting up a system to share know-how innovated with the support of the Government, according to participants. This kind of sharing will enable companies to access new technologies, talents and scientists. Thus, all research outcomes must be shared and published so that they could be applied. The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods. Thirdly, a competitive infrastructure needs…... [read more]

Footwear products made at My Phong shoe company in Tra Vinh Province’s Chau Thanh District. Viet Nam is advised to enter a second export wave of high added value products.— VNA/VNS Photo Vu Sinh Businesses should co-operate closely with the Government to usher in a second export wave of products with higher added-value and promotion of brands, participants at a seminar in HMC City said on Tuesday. According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is tranforming society, services and trade. For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to South Korea’s and Japan’s. Viet Nam’s first export wave, in which businesses exported raw material, is over. The seminar pointed out that certain foundations would need to be established to successfully develop the second wave. The first is setting up a system to share know-how innovated with the support of the Government, according to participants. This kind of sharing will enable companies to access new technologies, talents and scientists. Thus, all research outcomes must be shared and published so that they could be applied. The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods. Thirdly, a competitive infrastructure needs to be…... [read more]

Since the establishment of the ASEAN Economic Community (AEC), Vietnam has become a potential market for regional retailers, which promotes the development of the domestic retail sector, but also alerts domestic enterprises to watch out and continuously improve to not fall behind in this fierce competition.  Siam City Cement to invest in Dong Nai Small home appliance manufacturers struggle to gain domestic market share Asian investors control M&A activities in Vietnam   The Big C chain in Vietnam was acquired by Central Group from Thailand   Vietnam after AEC Before 2015, the Vietnamese retail sector largely slipped under the notice of the mass media and there were only a handful of investors, such as Big C, a brand of Groupe Casino from France, a mass retailer with operations around the world. Additionally Metro Cash & Carry, an international self-service wholesaler from Germany, and some big retailers from Asia, such as Aeon Group from Japan and Lotte Group from South Korea were present. - ASEAN has become Vietnam’s second biggest trade partner with an annual growth rate of 14.5 per cent during the last decade - Two-way trade turnover between Vietnam and the ASEAN increased from about $19 billion in 2006 to around $41.36 billion in 2016 - The ASEAN is the third biggest market and supplier…... [read more]

NDO – Today, the Association of Southeast Asian Nations (ASEAN) solemnly celebrates the 50th anniversary of its establishment (August 8, 1967-2017), which is an important event marking the 50th-year of ASEAN’s development and maturity as well as an opportunity for member countries to look back on the past with many ups and downs, but affirms their determination to steadily advance together in the way ahead. On August 8, 1967, with the aspiration of enhance cooperation in the Southeast Asia, Foreign Ministers of Indonesia, Malaysia, Singapore, Thailand and the Philippines signed the Bangkok Declaration which gave birth to ASEAN. After this event, Brunei and Vietnam were admitted to the bloc in 1984 and 1995, respectively. As soon as the country joins the regional playground, Vietnam, along with other member countries, to realise the dream of an ASEAN-10, consisting of all ten Southeast Asian countries with the admission of Laos and Myanmar (in 1997) and Cambodia (in 1999). Since then, ASEAN member countries, which show the diversification of political systems, cultures, languages and development levels, have been linked together by common goals and destiny. In 2007, ASEAN added a new milestone on the occasion of its 40th anniversary by signing the ASEAN Charter, creating a profound change in quality and bringing ASEAN from a purely regional cooperation organisation to a legal entity. Notably, on December 31, 2015, the ASEAN Community based on three pillars of Politics – Security, Economics, Culture and Society were officially formed, opening a new chapter in the history…... [read more]




Links Topics : http://news.c10mt.com/2017/08/can-tho-wants-to-capitalise-on-economic.html