Indonesia told to invest in Viet Nam to boost trade

Vietnamese Minister of Industry and Trade Tran Tuan Anh (centre, front) co-chairs the meeting (Source: VNA)   Hanoi (VNA) – Vietnam and Indonesia discussed specific measures to advance their friendship and multi-faceted cooperation during the seventh meeting of the joint committee on economic, scientific and technological cooperation in Hanoi on August 12. Accordingly, they will prioritise collaboration in trade, industry, energy, natural resources, minerals, investment, agriculture, forestry, fishery, transport, construction, education, culture, tourism, finance, banking, information and communications. Minister of Industry and Trade Tran Tuan Anh said the two sides also agreed to increase the exchange of delegations, information and experience in management and development, while working together to build new cooperation frameworks in various realms. Besides, they will tighten cooperation to remove difficulties hindering the bilateral ties and encourage connectivity between their private economic sectors in order to fully tap their potential. Minister Tuan Anh and Indonesian Trade Minister Enggartiasto Lukita signed the minutes of the meeting. According to the Vietnamese Ministry of Industry and Trade’s Asia-Pacific Department, Indonesia is the world’s 16th largest economy and the largest market in Southeast Asia. Despite global and regional economic uncertainties over the past time, trade between Vietnam and Indonesia has made significant strides, the department said. Indonesia is Vietnam’s fourth largest trade partner in the Association of Southeast Asian Nations (ASEAN), with two-way trade expanding from 4.6 billion USD in 2012 to 5.6 billion USD in 2016,…... [read more]

Accordingly, they will prioritise collaboration in trade, industry, energy, natural resources, minerals, investment, agriculture, forestry, fishery, transport, construction, education, culture, tourism, finance, banking, information and communications. Minister of Industry and Trade Tran Tuan Anh chairing the meeting in Hanoi on August 12  Minister of Industry and Trade Tran Tuan Anh said the two sides also agreed to increase the exchange of delegations, information and experience in management and development, while working together to build new cooperation frameworks in various realms. Besides, they will tighten cooperation to remove difficulties hindering the bilateral ties and encourage connectivity between their private economic sectors in order to fully tap their potential. Minister Tuan Anh and Indonesian Trade Minister Enggartiasto Lukita signed the minutes of the meeting. According to the Vietnamese Ministry of Industry and Trade’s Asia-Pacific Department, Indonesia is the world’s 16th largest economy and the largest market in Southeast Asia. Despite global and regional economic uncertainties over the past time, trade between Vietnam and Indonesia has made significant strides, the department said. Indonesia is Vietnam’s fourth largest trade partner in the Association of Southeast Asian Nations (ASEAN), with two-way trade expanding from 4.6 billion USD in 2012 to 5.6 billion USD in 2016, and an annual average growth rate of about 5 percent. In 2016, export and import revenues between the two countries reached 2.6 billion USD and 3 billion USD, respectively. Bilateral collaboration in other fields like agriculture, investment,…... [read more]

Prime Minister Nguyen Xuan Phuc has called for an increase in credit growth to 21 per cent this year to help the country hit its economic growth target, potentially adding to concerns over the pace of new lending. The Prime Minister told a government meeting last weekend of the goal, emphasizing the importance of hitting the 6.7 per cent GDP growth target for the year. Data from the General Statistics Office showed that credit growth during the first half was 7.5 per cent compared to a year ago; the highest in six years. Meanwhile, State Bank of Vietnam (SBV) Governor Le Minh Hung said that credit growth at a pace of 9.06 per cent was seen as at June 30 compared to the end of 2016. In February, the central bank set a 2017 credit growth target of 18 per cent, and there has been no announcement that the official target has been increased. In July, the SBV sprang a surprise on markets by reducing the refinancing rate, rediscount rate, overnight electronic interbank rate, and the rate of loans to offset capital shortages in clearance between the central bank and domestic banks by 25 basis points. The cuts, which come three years after the previous move, reduced the refinancing rate to 6.25 per cent and the rediscount rate to 4.25 per cent and was aimed at stimulating the pace of economic growth towards the 6.7 per cent target for the year. Few would question whether there was room to cut…... [read more]

The Vietnam National Administration of Tourism (VNAT) will host a range of tourism promotion programmes that will advertise Vietnam’s charm to key tourism markets during the remaining months of this year. The first programme will be held from August 18 to 23 in three cities in China, including Xiamen city in Fujian province, Baotou city in the Inner Mongolia Autonomous Region, Nanchang city in Jiangxi province. Each event expects to draw the participation of approximately 350 Chinese travel agencies. Vietnam always eyes China as the leading tourism market as the country has received 2.6 million Chinese visitors in 2016, a year-on-year increase of 51.4%. During the first seven months of this year, nearly 2.2 million Chinese visited Vietnam, up 51% over the same period from last year. The same promotion programmes have also been organised in Australia from August 15 to 18, in Northern European countries from September 13 to 20, and in Japan from September 16 to 22. In addition, the VNAT will attend major international tourism fairs to advertise Vietnam’s tourism potential, including the JATA Tourism EXPO from September 21 to 24 in Japan, TOP RESA International Tourism Industry Trade Fair in Paris, France from September 26 to 29, the Chinese Taipei International Travel Fair from October 27 to 30, and the World Travel Market in London, UK from November 6 to 10. In the same attempt to boost Vietnam’s tourism, the VNAT has updated information and policies on tourist activities as well as Vietnam’s most attractive destinations…... [read more]

Several traditional lottery firms in Vietnam have begun co-operating with Vietlott to sharpen their competitiveness in the context of the falling revenues. A branch of Hanoi Lottery Company in Thanh Tri District A Vietlott representative said that some traditional lottery firms wanted to become Vietlott’s agents. He added that Vietlott was always willing to co-operate. To date, Hue and Ha Nam lottery companies have worked with Vietlott.  Hanoi Lottery Company have also expressed their interest in working with Vietlott to achieve VND770 billion (USD35 million) in revenue this year. Since being launched last July by Vietlott in collaboration with Malaysia’s Berjaya Bhd under an 18-year contract, the computerised lottery Mega 6/45 has been rapidly becoming popular in Vietnam due to its large prizes. After Vietlott announced its first jackpot winner, a pork seller in Tra Vinh Province who won VND92 billion (USD4.03 million) last October, its lottery ticket sales surged from VND2.12 billion (USD93,492) a day to VND11.2 billion (USD493,920) within two months. By December 2016, it was selling tickets worth VND14.2 billion (USD636,360) daily, becoming a big rival for local traditional lottery firms. To boost their sales, traditional companies in the south have even raised their top prize from VND1.5 (USD66,195) billion to VND2 billion (USD88,260). Some lottery companies have also started selling tickets where buyers can write their own numbers instead of buying pre-printed numbers. dtinews... [read more]

Located in southern Kien Giang province, Phu Quoc is frequently touted one of Vietnam’s most beautiful islands and its renowned Bai Dai Beach is blissfully secluded with white sands and expansive vitas stretching to the horizon, the website said.  Phu Quoc island district is well-connected with international airports, home to luxurious resorts and foreign visitors can enjoy 30 day visa-free stay on this island.   Phu Quoc is the largest Vietnamese island with a total area of 574 square kilometres and a permanent population of approximately 85,000. In 2006, it was recognised as a World Biosphere Reserve by UNESCO. In the first five months of this year, the island welcomed nearly 858,000 arrivals, more than 47 percent of the yearly target, up 21 percent from the same period last year. The figure includes nearly 181,000 international tourists, or 60 percent of the yearly target, up 30 percent year on year. Meanwhile, Mui Ne beach in the central province of Binh Thuan is famous for adventurous activities, particularly wind-surfing and kite-surfing, due to its warm temperature and clear skies.  It also consists of massive sand dunes, suitable for activities such as sand-boarding.  Mui Ne boasts many attractive landscapes such as Hon Rom, Hon Lao Cau and Bai Rang. Coming to this beach, travellers also have the chance to witness the daily life of fishermen in a humble fishing village.  Other beaches on the list by CNN Travel are Yunokawa (Hakodata, Japan), Patnem Beach (Goa, India), Tanjung Rhu…... [read more]

Dekalb Vietnam has visited Son La province and cooperated with local partners to gift and spiritually support the victims of the early August flood. Dekalb and distributors' representatives visited the flood victims of Huoi Lieng village At the breaking dawn of August 3, 2017, the flood hit It Ong town. Big and heavy stones from surrounding mountains were swept along at a high speed, damaging hundreds of houses. Consequently, the concrete bridge spanning over the Nam Pam stream and many consolidated schools were completely demolished or heavily damaged. Many villages were left isolated because the connecting roadways were broken down. Lo Van Bon, a resident in Huoi Lieng village, Nam Pam commune, Muong La district, said, “Our village has 37 households, but 20 of them were heavily affected by the disaster. This was a flood unlike any that I have ever seen. Now all I wish is that the state, related agencies, as well as enterprises would support us so that we can rebuild and resettle.” Volunteers in the village working to distribute Dekalb Vietnam's aid Understanding the difficulties of people affected by the disaster, Dekalb Vietnam, a subsidiary of Monsanto, the world’s largest seed company, has quickly started cooperating with its distributors in Son La province, such as Ka Thuy, Truong Thac, Viet Thanh, and Tan Doan, to visit and hand out emergency…... [read more]

With the aim of strengthening awareness of online marketing channels and enhancing the global market share of Vietnamese enterprises, Marketing Forum 2017 (VOMF 2017), organised by the Vietnam E-commerce Association (VECOM), are taking place in both Hanoi and Ho Chi Minh City, the country’s two e-commerce centres. VOMF attracted numerous domestic enterprises The event was held in Ho Chi Minh today and will take place in Hanoi on August 17, with the main topic of “Outstanding marketing trends.” The forum will focus on affiliate marketing trends and search engine-, programmatic-, multichannel-, mobile-, social-, and content marketing. The forum is organised to support domestic enterprises by promoting their capacities and products via effective online marketing channels. The event has drawn the participation of over 1,000 enterprises and organisations nationwide. Many recognised spokespersons from leading organisations and businesses in the industry have participated in the forum to share their expertise and guidelines in this field. Vietnam e-Business Index 2017 reported by VECOM indicated that social networks surpassed search engines to become the most popular online advertising medium in 2016, as they were used by 47 per cent of businesses, while search engines and emails were used by 41 and 36 per cent, respectively. In general, social networks were not only the most used channel but were also considered the most effective one. In addition, 46 per cent of businesses said social network advertising is highly…... [read more]

SonKim Land was honoured with the award of The Best Real Estate Deal of the Year 2016-2017 and The Company with Typical Public Disclosure of the Year 2016-2017 at the 9th Vietnam M&A Forum 2017 themed "Seeking a Big Push" on August 10 in Ho Chi Minh City. SonKim Land took home two prestigious awards at Vietnam M&A Forum 2017 RELATED CONTENTS: The winners of Vietnam M&A Forum 2017 Dazzling future of M&A activities M&A Forum 2017: second session on international investors' perspective Legal reforms to push M&A market forward Vietnam M&A Forum 2017 underway SonKim Land selects Hoa Binh for Serenity Sky Villas SonKim Land announces $100 million follow-up fundraising with EXS Capital and ACA Investments SonKim Land wins IAIR award for leadership The honour ceremony of M&A Deal Awards was one of the annual activities of Vietnam M&A Forum. A list of significant M&A deals selected by the Independent Appraisal Panel will help businesses and investors assess and review the development of the size and nature of the Vietnamese M&A market in the past year. This year, SonKim Land has successfully mobilised $100 million (the first round of this investment—$46 million—has already been disbursed) from EXS Capital and ACA Investments through the Lemongrass Master…... [read more]

VietNamNet Bridge – Viet Nam hope to beat Thailand to take gold at the women’s football event of the upcoming 29th Southeast Asian (SEA) Games, according to Duong Vu Lam, head of the women’s football operational staff. Going for gold: Viet Nam women’s football team train at Universiti Malaya Stadium in Malaysia this morning. — Photo vff.org.vn “At the 27th Games in Myanmar four years ago, we lost to Thailand 2-1 in the final. We come here with the highest goal of winning the women’s football event,” Lam said in a press conference yesterday in Kuala Lumpur. Women’s football was not in the programme of the 2015 Games in Singapore. Lam said Viet Nam are ready to take on their rivals and the pressure of expectations at the tournament. The team have trained for more than a month at home and in Japan, gaining valuable experience. The Vietnamese team arrived in Malaysia on Sunday and had a light training session yesterday morning. All players are in good health and feeling positive. Speaking of their competitors, particularly Thailand and Myanmar, coach Mai Duc Chung said all national teams are strong and his team respect them all. The Vietnamese team have played these teams several times and know them well, so they are confident they will perform in each match, he said. Meanwhile, coach Spencer Prior of Thailand was full of praise for Viet Nam and Myanmar. Prior said Viet Nam have shown tremendous improvement recently while Myanmar are equally dangerous as…... [read more]




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