Vietnamese firms visit Bangladesh to spur trade relations

The Vietnamese and Bangladeshi governments signed a memorandum of understanding (MoU) on rice trading in Hanoi on April 18. The MoU was inked by Vietnamese Minister of Industry and Trade Vu Huy Hoang and Bangladeshi Minister of Food and Disaster Management Muhammad Abdur Razzaque. The MoU is expected to create a legal foundation for the two countries to establish stable rice trading ties and contribute to boosting their strategic partnership in food provision, said Minister Hoang. On that basis, Vietnam will continue to affirm its position as one of the world's leading rice exporters and raise its active role in ensuring regional and international food security, he said. Minister Hoang took the occasion to announce that Vietnam will expand parboiled rice exports to Bangladesh to meet the country's huge demand. According to MoIT's Africa-West Asia-South Asia Markets Department , Vietnam - Bangladesh trade ties are developing fruitfully, with two-way trade reaching 288 million USD in 2010, up 250 percent over 2009. Last year, Vietnam 's exports to Bangladesh earned more than 253 million USD, a year-on-year increase of over 325 percent. The country earned 120 million USD from shipping 350,000 tonnes of rice to the market. Despite being the world's fourth largest rice producer, in 2009, Bangladesh had to import 2-3 million tonnes of food to meet the demands of an increasing population and deal with impacts of natural disasters./.... [read more]

NDO/VNA – A delegation of almost 20 Vietnamese businesses from various sectors has visited Bangladesh in order to boost trade partnership with the South Asian nation, in the first trip of its kind held by the Ministry of Industry and Trade in the last five years. The Vietnamese Embassy in Bangladesh coordinated with the ministry and the two countries’ chambers of commerce and industry to organise an investment and trade promotion workshop. At the event, Bangladeshi Minister of Civil Aviation and Tourism Rashed Khan Menon pledged to coordinate with Vietnam to promptly open a direct air route linking the two nations to enhance trade and tourism. He promised to provide the best possible conditions for Vietnamese firms to invest in the high potential industries of his country, such as technology and tourism. Minister of Commerce Tofail Ahmed called on the Vietnamese enterprises to invest in Bangladesh and asked the Vietnamese Government to create favourable conditions for his country’s pharmaceutical products to enter the Vietnamese market. Noting the progress made in economic and trade ties, Vietnamese Ambassador to Bangladesh Tran Van Khoa said that bilateral trade reached approximately US$400 million in the first half of 2017, up 40% annually. He stressed that to develop sustainable and win-win trade relations, the businesses of both sides should diversify their export items, instead of solely relying on a few strong products as they have done so far. Bangladesh is assessed as a high potential market with a population…... [read more]

Vietnam and Mozambique have signed many agreements on investment commitments in almost all sectors, including agriculture. One important area of cooperation that the Mozambique business community wants to boost cooperation in the coming time is the agricultural sector, with a focus on cashew. Recently at the Melia Hotel there was a round table discussion between Mozambique's government agencies and Vietnamese businesses. Assessing the potential and opportunities for cooperation in the coming time, Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said: "Vietnam has participated in many bilateral and multilateral free trade agreements and holds membership in many trade organisations, this is the basis for both sides to expand cooperation further in the future, through which Vietnam will be the bridge for Mozambique to access other markets such as Southeast Asia and Asia. Mozambique's Deputy Minister of Foreign Affairs said the Mozambique government's five-year plan identified four key areas of development: agriculture, tourism, energy and infrastructure development. Currently, Mozambique is paying particular attention to facilitate foreign investors, including Vietnamese investors, to invest and do business in Mozambique. Deputy Minister of Foreign Affairs of Mozambique expressed her hope that Vietnamese businesses would boost their investment in agriculture and tourism, as well as their desire to encourage Vietnamese businesses to invest in Mozambique. The two countries have signed an agreement on investment protection and double taxation avoidance. At the same time, the Mozambique government has also applied preferential incentives to…... [read more]

While M&A may be a new and strange activity to Vietnamese businesses, to Masan, it is simply a tool to be used for developing their long-term vision. RELATED CONTENTS: KKR closes $250 million investment in Masan Group Masan begins trading on UPCoM Masan to issue $300 million non-convertible bonds to foreign investors Masan, banks lift local stocks Stocks up after Masan reveals dividend plan Masan Consumer moves to get listed on UPCoM Masan submits offer for remaining stake in Nui Phao mine owner Almost two years ago, on December 25, 2015, Masan Group issued a press release on the M&A deal with Singha from Thailand. Among hundreds of M&A deals in 2015, this was the deal that pushed the value of the Vietnamese M&A market over the $5-billion mark for the first time. The fact that a foreign company invested $1.1 billion in a Vietnamese business, which was a record at the time and remains one of the largest deals the market has seen so far, deeply impressed the business community in Vietnam. However, the stellar value was not the only thing making this deal unique. This was the first time in Southeast Asia, and perhaps even in the world, that two giants in consumer products joined forces without the usual buyout. It should…... [read more]

Many countries in the world have strongly changed to optimize production and improve their commodities’ competitiveness. Domestic production protectionism has been showed through increasing technical barriers. Meanwhile, Vietnam’s cargo export structure has yet to change, businesses have mainly done outwork and exported raw products. According to statistics by the Ministry of Industry and Trade, export turnover was estimated to reach US$115.2 billion in the first seven months this year, a year on year increase of 18.7 percent. The turnover might reach $200 billion this year, up 13 percent over last year. Import turnover for the entire year is estimated to hit $205 billion, raising 17 percent over the same period last year. With great efforts by the Government and ministries, the country’s export industry is expected to maintain growth momentum this year and next year. However, export in particular and the economy in general has showed many congestions which should be cleared to develop. Mr. Nguyen Phu Hoa, deputy head of the Export Import Department under the ministry, estimated that the global economy is witnessing unpredictable changes. Vietnam’s export and growth quality need be reconsidered. The country has sold any raw material it has and speeded up quantity. The first export wave has reached its peak according to this model. Sharing the same view, other experts said that Vietnam needs a revolution to create the second wave to change products’ competitive ability, improve brand name value and national images. Vietnamese businesses’ supply ability is still very small in…... [read more]

Vietnamese fibre and yarn have been exported to nearly 20 countries worldwide. — Photo The nation’s fibre and yarn exports reached 750,000 tonnes, worth more than US$1.85 billion over the past seven months, surging 17 per cent in volume and 26.5 per cent in value against the same period last year. Over 341,000 tonnes of fibre and yarn were shipped abroad for $933.4 million in the first half of this year alone, up 18.5 per cent in volume and 29.47 per cent in value, according to the General Department of Customs. Vietnamese fibre and yarn have been exported to nearly 20 countries worldwide. Of them, mainland China is the leading importer, accounting for 54.4 per cent of the total value. South Korea and Turkey were the two other largest importers of Vietnamese fibre and yarn. Other markets recording positive import turnovers included Taiwan, Hong Kong and Pakistan. quoted the Viet Nam Cotton and Spinning Association as saying that Vietnamese businesses have shifted their export targets from Turkey to China and Pakistan after its anti-dumping duties were imposed in recent years. Although Turkey remaied the third largest consumer of Viet Nam’s fibres and yarns, exports to the market slumped signficantly by 37.5 per cent in volume to 30,000 tonnes and 28.3 per cent in value to $67.9 million from January to June period. — VNS ... [read more]

Investors around Asia may share the same excitement about Vietnam’s M&A market, but their strategies are often quite different from one another. Thanh Van and Nam Phuong report. In recent years, enthusiastic Asian firms have been flocking to Vietnam as part of their global ambitions. These merger-and-acquisition investors often share similar characteristics – their home markets have matured and growth is slowing down, pushing them to seek high-growth or low-production-cost economies for expansion elsewhere. Vietnam, thanks to its geographical and cultural proximity, emerges as an attractive destination for many buyers. However, despite these similar beginnings, these Asian investors are quite unique in their approach. It is particularly interesting to draw comparisons between those from Thailand, Singapore, Japan, and South Korea – the four most prominent players in Vietnam’s merger-and-acquisition (M&A) scene. ASEAN rises In 2016 and the first half of 2017, Thailand and Singapore were the most active ASEAN participants in Vietnam’s M&A transactions. Thailand stood out among all investors thanks to their “go hard or go home” strategy, which included aggressive takeovers of major Vietnamese firms in retail and consumer goods. For example, Central Group spent $1.05 billion acquiring Big C supermarkets, previously owned by the French company Casino Group, in May 2016. Prior to this deal, TCC Holdings parted with $800 million in exchange for the wholesaler Metro Cash & Carry Vienam. Singha also became a major shareholder at Vietnam’s Masan…... [read more]

Japanese delegation met with representatives from Vinafco Joint Stock Corporation. — Photo vinafco Japanese companies are focused on the Vietnamese market and seek wider, deeper co-operation with Vietnamese firms, Eiichi Tani from SME Support Japan said in Ha Noi on Monday. Speaking at a meeting between a delegation of the Japanese Ministry of Economy, Trade and Industry (METI) and Vinafco Joint Stock Corporation - a logistics service provider, Tani said Japanese businesses have now shifted their attention from the Chinese to the Vietnamese market. The meeting was a part of the SME Support Japan’s support programme for small- and medium-sized Japanese enterprises looking at international markets. “The event was to help both sides exchange information on Viet Nam’s transport market in general, and both countries’ transport situation in particular,” Tani said. “It also touched upon necessary customs procedures to bring Japanese goods into Viet Nam.” Tokuhiro Imamura, chairman of Imamura Joint Stock Company, which specialises in interiors, said his company is looking to expand its market. It plans to build a plant in Viet Nam in the future, Imamura said, adding that the company would export some products to Viet Nam to explore and understand the market. Imamura JSC has some basic information from Japanese logistics firms operating in Viet Nam, but it wants to build further contacts with Vietnamese businesses as local firms have advantages in their own market. At the meeting, a Vinafco representative shared information related to…... [read more]

NDO – The inflow of foreign direct investment (FDI) into Vietnam has increased rapidly so far this year and is shifting in a positive trend. As of July 20, the country had attracted US$12.9 billion in new FDI pledges, alongside another US$5.9 billion in additional pledges, without taking into account the US$3.1 billion, which was both contributed and used by foreign investors to buy stakes in Vietnamese businesses. It is clear that the investment environment and the market in Vietnam are becoming increasingly attractive in the eyes of both indirect and direct investors from other countries. The scale of registered capital continues to expand at a rapid rate, with new FDI pledges in the first seven months of 2017 rising by 48.7% compared to the same period last year. The additional capital figure also posted an annual increase of 38.5%, bringing the total FDI capital to US$18.8 billion, up 45.3% against the same period of 2016, thus creating favourable conditions in which to achieve the FDI attraction target set for the whole 2017. Despite a 2.1% fall in the number of newly registered FDI projects during the same period, at 1,378, the total registered value posted a 1.5-fold increase. Particularly, there were a number of new FDI projects worth billions of USD each in the energy sector. In addition, the scale of existing FDI projects has also expanded, with 677 projects registering to increase capital by an additional US$5.9 billion. Evidently, increasing the project scale not only…... [read more]

The Vietnam National Oil and Gas Group (PetroVietnam), or PVN, produced 9.23 million tonnes of oil in the first seven months of this year, exceeding the target set for the period, said the group’s CEO Nguyen Vu Truong Son. A part of the Central Technology No 3 oil rig at the White Tiger oil field. Speaking at the meeting with Prime Minister Nguyen Xuan Phuc in Ha Noi on Saturday, Son said the group earned January-July revenue of VND278.5 trillion (US$12.21 billion), surpassing the seven-month target by 14 per cent and fulfilling 64 per cent of the yearly goal, making an after-tax profit of VND14.1 trillion. “The PVN sent VND50.8 trillion to the State budget,” said Son. The CEO said the group made significant progress in oil drilling and exploration, with the discovery of a new basin named Ca Trich (Sardinella) well at block 11-2 and a number of oil wells with good volume, such as Thien Nga-3X at the White Swan oil field and Bach Ho-48 well at the White Tiger oil field. Son also reported that the White Rabbit 3 oilfield saw its first stream of oil extracted from well 37P on May 7, 13 days ahead of schedule. “PetroVietnam implemented science, technology and training activities, as well as ensuring oil and gas security and safety, and environmental and labour safety. The prevention of fire at oil and gas facilities was controlled while social welfare was ensured,” said Son. Based on the good results in the first seven…... [read more]

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