PM urges Vietnam, Egypt to increase two-way trade

NDO/VNA – Trade between Vietnam and Egypt could develop strongly from the current annual level of US$400 million if the two sides make good use of cooperation opportunities. Prime Minister Nguyen Xuan Phuc made commented on this while meeting with Egyptian Minister of Investment and International Cooperation Sahar Nasr and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and head of the Suez Canal Economic Zone, in Hanoi on August 22. He further stated that Vietnam readies to export its products to Egyptian supermarket chains and sell made-in-Egypt commodities in Vietnam. Shar Nasr said Egypt boasts great potential in shipbuilding and seaport use, which Vietnamese businesses could explore investment opportunities. She commented that a business forum will be held during the upcoming visit by the Egyptian President to promote bilateral cooperation. For his part, Mohab Mamish stated that a large volume of global cargo goes through the Suez canal annually. He noted that Egypt has inaugurated an economic zone to connect the Mediterranean Sea with the Asian region, hoping Vietnamese firms will study investment opportunities in the zone. PM Phuc hoped the two sides will sign cooperation agreements in trade and investment, emphasising on the bilateral cooperation potential in garment-textile, processed farm produce, and fisheries. He proposed the idea that Egypt should create favourable conditions for businesses to cooperate in oil and gas exploitation and provision of services relating to this field. The PM also suggested the inter-governmental committee devise specific…... [read more]

The Vietnamese Ministry of Finance redoubled efforts to draw ties closer with Japan, aiming to ramp up cooperation on the intergovernmental and private investment levels at the same time. To this end did the two sides hold a meeting of the two nations’ ministries of Finance and an investment promotion conference for Japanese enterprises. Corporate big guns join Japan investment promotion delegation Can Tho, Japan seek cooperation opportunities in agriculture Japanese firms eye Vietnamese market The Vietnamese Ministry of Finance's delegation hard at work in Japan On August 21, at the meeting with Soichiro Imaeda, Japanese Deputy Minister of Finance cum Japanese Secretary of State, Minister of Finance Dinh Tien Dung issued a sincere invitation to the Japanese Minister of Finance to the APEC Finance Ministers’ Process, which will take place in October 2017 in the central province of Quang Nam's Hoi An. Minister Dung proposed the Japanese Ministry of Finance to support the financial cooperation initiatives of the APEC 2017. Currently, Vietnam has become the 100th official member of the Base Erosion and Profit Shifting (BEPS) programme and he hopes to secure the support of the Japanese Ministry of Finance. Minister of Finance Dinh Tien Dung speaking at the financial investment promotion meeting He also proposed the Japanese government to consider providing Vietnam with official…... [read more]

For the August 21-24 visit to Japan, the Vietnamese delegation led by Minister of Finance Dinh Tien Dung will include a number of heavyweight corporates hoping to find Japanese partners to either participate in state divestment or establish long-term presence in Vietnam. Bao Viet Holdings (BVH), FPT JSC, Vietjet Aviation JSC, Vietnam Dairy Products JSC (Vinamilk), Saigon Beer-Alcohol-Beverage Corporation (Sabeco), State Capital Investment Corporation, and Novaland Investment Group Corporation, among others, are the companies represented in the investment promotion delegation to Japan on August 21-24. The delegation, led by Minister of Finance Dinh Tien Dung, aims to appeal to Japanese investors with their stable operating platform and aspiration to expand. Vietnamese businesses looking for expansion opportunities With Sumitomo Life Insurance Company (Japan) as its strategic partner holding 18 per cent capital, as well as large foreign shareholders like Deutsche Bank AG, Target Value Fund, and CitiGroup Global Market Ltd., among others, BVH’s representative is expected to speak at the Conference on Investment Promotion in Vietnam in Japan. BVH is also one of the top companies in Vietnam in terms of capitalisation on Vietnam’s stock exchanges (over VND39 trillion—$1.7 billion on August 16), and has maintained stable business performance for several years. In 2012, Sumitomo Life became BVH’s strategic partner following HSBC’s divestment. Since then, Sumitomo Life has provided much-needed assistance for Bao Viet in developing products, diversifying distribution channels, implementing information technology in insurance…... [read more]

Under the agreement, which was signed during Prime Minister Nguyen Xuc Phuc’s official visit to Thailand, PetroVietnam and SCG will speed up the implementation of the petrochemical project in Long Son commune in the southern province of Ba Ria-Vung Tau, as well as the development of the Long Son Petrochemical Co. Ltd. (LSP) – the project’s investor. The two sides agreed to provide optimal support for the LSP to implement the Engineering, Procurement and Construction (EPC) contract in the fourth quarter of this year while giving priorities to member units/subsidiaries of PetroVietnam to provide services and goods for the project in line with current laws, competitiveness and benefit of the LSP. PetroVietnam and SCG also consented to contribute capital to ensure the implementation of the project. Previously, a PetroVietnam delegation held a working session with SCG leaders to discuss cooperation opportunities in the petrochemical sector. The two sides expressed their hope to realise potentials with programmes and projects in the future. Covering 464ha in the Long Son Industrial Park in Vung Tau city, the US$5.4 billion petrochemical complex is one of the key petroleum projects. It is expected to be completed and put into operation in 2022, with a capacity reaching 1.6 million tonnes of olefin per year.  Using advanced technologies, the project meets requirements of environment protection, ensures safe operation, and produces high-quality petrochemical products.  During construction, the project will create jobs for between 15,000- 20,000 labourers. Once…... [read more]

PetroVietnam, SCG sign an agreement to speed up Long Son petrochemical project under the witness of PM Nguyen Xuan Phuc and Thai Prime Minister Prayut Chan-ocha (Source: VNA) Hanoi (VNA) – The Vietnam National Oil and Gas Group (PetroVietnam) and the Siam Cement Group (SCG) of Thailand have just signed an agreement on accelerating the progress of a petrochemical project in southern Vietnam. Under the agreement, which was signed during Prime Minister Nguyen Xuc Phuc’s official visit to Thailand, PetroVietnam and SCG will speed up the implementation of the petrochemical project in Long Son commune in the southern province of Ba Ria-Vung Tau, as well as the development of the Long Son Petrochemical Co. Ltd. (LSP) – the project’s investor. The two sides agreed to provide optimal support for the LSP to implement the Engineering, Procurement and Construction (EPC) contract in the fourth quarter of this year while giving priorities to member units/subsidiaries of PetroVietnam to provide services and goods for the project in line with current laws, competitiveness and benefit of the LSP. PetroVietnam and SCG also consented to contribute capital to ensure the implementation of the project. Previously, a PetroVietnam delegation held a working session with SGC leaders to discuss cooperation opportunities in the petrochemical sector. The two sides expressed their hope to realise potentials with programmes and projects in the future. Covering 464ha in the Long Son Industrial Park in Vung Tau city, the 5.4 billion USD petrochemical complex is one of the…... [read more]

Vice Chairman of the Can Tho municipal People’s Committee Truong Quang Hoai Nam speaks at the seminar on August 18 (Photo: VNA) Can Tho (VNA) – The Mekong Delta city of Can Tho wants to capitalise on chances in economic activities with ASEAN, especially the ASEAN Economic Community (AEC), Vice Chairman of the municipal People’s Committee Truong Quang Hoai Nam has said. The opportunities created by the AEC, which came into being on December 31, 2015, for people and businesses were spotlighted at a seminar held by the Can Tho People’s Committee on August 18. Participants presented cooperation opportunities for Vietnamese firms in the AEC, the country’s commitments in the community, the country’s optimisation of origin principle to benefit from the AEC’s tax incentives, along with opportunities and challenges for the Mekong Delta since Vietnam became an AEC member. Nam said Vietnam joined ASEAN in 1995, and the bloc has since been a gateway for the country to intensively integrate into the world in terms of politics, economy, culture and society. A number of delegations from ASEAN countries have come to Can Tho to seek investment opportunities over the last couple of years, and the city also wants to learn about ways to cooperate with regional nations, he noted. [Deputy PM discusses problems facing ASEAN Economic Community] Tran Huu Hiep, a member of the Steering Committee for the Southwestern Region, said when Vietnam is an AEC member, Can Tho and other Mekong…... [read more]

A delegation of 30 Tanzanian businesses attended the recent Vietnam-Tanzania Business Forum in Hanoi to meet Vietnamese companies. Visitors are engaged in agriculture, agricultural products (rice, pepper, tea, cashew nuts, coffee, etc.), fishing, garment and textile, transportation, agricultural machinery and equipment, pharmaceuticals, energy, electricity, telecommunications, consultancy, finance, and general import and export. The forum was organised by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with Vietnamese agencies and Tanzania Investment Promotion Centre on the occasion of the visit to Vietnam by Tanzanian Minister of Industries, Trade and Investment and Minister of Agriculture, Livestock and Fisheries with the aim of seeking partners and opportunities of investment cooperation with Vietnamese businesses. Speaking at the forum, Dr Doan Duy Khuong, VCCI Vice President, said, in spite of being geographically distant, Vietnam and Tanzania have a long-lasting cooperation and are eager to develop this relationship in many areas, particularly in economy, trade, industry and investment. Vietnam always sees Tanzania as a large, potential market in East Africa, which is a gateway to penetrating its neighbouring countries. The trade agreement signed between the two countries in 2011 with the MFN status in bilateral trade has opened up new business opportunities for enterprises of the two countries. This is actually an important legal framework for exchanging and trading goods between two parties. Mr Julius Kaijage, Vice President of the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), said, the Government of Tanzania always gives priority to…... [read more]

Representatives of Can Tho People’s Committee and Japanese delegation at the meeting. — VNA/VNS Photo Thanh Liem Chairman of the People’s Committee of the Mekong Delta city of Can Tho Vo Thanh Thong on Sunday had a working session with a Japanese delegation to discuss co-operation opportunities in agriculture and personnel training in this sector. The Japanese delegation includes Hitoshi Kinouchi, a professor of Tokai University; Susumu Ishihara, an advisor of Japanese language training; and Masayuki Abe, director of the Human Resource Research Institute and director of the Vietnam Agricultural Information Centre (VAIC). According to Hitoshi, the Mekong Delta is like Japan in the past as it has small-scale agriculture with production mainly conducted by households, thus hindering product processing and distribution to companies. Japanese farming households have grouped into co-operatives to tackle the problem and also sell agricultural products with high prices, he said. Hitoshi suggested Japan and Can Tho partner with each other in the farming sector, saying the most important issue is how to improve agricultural quality and technology. For his part, Thong said Can Tho is interested in partners and investors from Japan and wishes to co-operate with the Japanese side in personnel training, especially the farming sector. He called on Japan to provide technical support for Can Tho and consider dispatching volunteers to Can Tho to take part in high-tech agriculture research programmes, while helping local farmers access the market and apply high and bio-technologies…... [read more]

At the working session (Source: VNA)   Can Tho (VNA) – Chairman of the People’s Committee of the Mekong Delta city of Can Tho Vo Thanh Thong on August 13 had a working session with a Japanese delegation to discuss cooperation opportunities in agriculture and personnel training in this sector. The Japanese delegation includes Hitoshi Kinouchi, a professor of Tokai University; Susumu Ishihara, an advisor of Japanese language training; and Masayuki Abe, Director of the Human Resource Research Institute and Director of the Vietnam Agricultural Information Centre (VAIO). According to Hitoshi, the Mekong Delta is like Japan in the past as it has small-scale agriculture with production mainly conducted by households, thus hindering product processing and distribution to companies. Japanese farming households have grouped into cooperatives to tackle the problem and also sell agricultural products with high prices, he said. Hitoshi suggested Japan and Can Tho partner with each other in the farming sector, saying the most important issue is how to improve agricultural quality and technology. For his part, Thong said Can Tho is interested in partners and investors from Japan and wishes to cooperate with the Japanese side in personnel training, especially the farming sector. He called on Japan to provide technical support for Can Tho and consider dispatching volunteers to Can Tho to take part in high-tech agriculture research programmes, while helping local farmers access the market and apply high and bio-technologies in the…... [read more]

Chairman of the People’s Committee of the Mekong Delta city of Can Tho Vo Thanh Thong on Sunday had a working session with a Japanese delegation to discuss co-operation opportunities in agriculture and personnel training in this sector. Representatives of Can Tho People’s Committee and Japanese delegation at the meeting.-VNA/VNS Photo Thanh Liem The Japanese delegation includes Hitoshi Kinouchi, a professor of Tokai University; Susumu Ishihara, an advisor of Japanese language training; and Masayuki Abe, director of the Human Resource Research Institute and director of the Vietnam Agricultural Information Centre (VAIC). According to Hitoshi, the Mekong Delta is like Japan in the past as it has small-scale agriculture with production mainly conducted by households, thus hindering product processing and distribution to companies. Japanese farming households have grouped into co-operatives to tackle the problem and also sell agricultural products with high prices, he said. Hitoshi suggested Japan and Can Tho partner with each other in the farming sector, saying the most important issue is how to improve agricultural quality and technology. For his part, Thong said Can Tho is interested in partners and investors from Japan and wishes to co-operate with the Japanese side in personnel training, especially the farming sector. He called on Japan to provide technical support for Can Tho and consider dispatching volunteers to Can Tho to take part in high-tech agriculture research programmes, while helping local farmers access the…... [read more]




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