Vietnam’s potential New technological solutions heralded by the fourth industrial revolution, such as advanced robotics, autonomous system, internet of things and artificial intelligence are changing production worldwide. Developing countries have proven they are able to catch up with developed nations in the fourth industrial revolution – and even to overtake them. Vietnam has many advantages allowing it to participate in this game. Prime Minister Nguyen Xuan Phuc addressed Vietnam’s potential on December 5 at Smart Industry World 2017, a conference held for the first time in Vietnam to discuss future orientations and methods to attract investment and develop the Vietnamese smart industry. Phuc told participants that with the active participation of the government and business, Vietnam has achieved initial positive results in carrying out the fourth industrial revolution. Ministries, departments and localities have focused on promoting IT application and most public services can be accessed online (88 percent). Vietnam’s 4G networks now cover 95 percent of the nation’s population. Vietnam has 52 million internet users, accounting for 54 percent of the population, ranking fifth in the Asia-Pacific region in terms of internet access. With 55 percent of its people having smartphones, it is projected that by 2020, Vietnam will be among the leading countries in the region in terms of mobile users. This is an important foundation for Vietnam to quickly catch up with new technology trends. The number of new startups in 2017 has nearly doubled over last year, from about 1,800 in 2016 to more than 3,000 in… [Read full story]
Opportunities for Vietnam’s exports to the EU market were discussed at a seminar hosted by Vietnam Trade Promotion Agency (VIETRADE) on December 5 in Hanoi with a view to further developing economic and trade ties between Vietnam and nations of the European Union.The event also ensured Vietnamese businesses are up to date on the latest information regarding the EU market and export opportunities. According to the Ministry of Industry and Trade, two-way trade turnover between Vietnam and the EU increased 11 fold from US$4.1 billion in 2000 to more than US$45 billion in 2016. The EU is one of Vietnam’s…... [read more]
Canadian firms sound out investment opportunities in VietnamThuy Dung HANOI – A Canadian business delegation comprising 60 firms from Ontario province led by Premier Kathleen Wynne has come in Vietnam to sound out investment opportunities. Kathleen Wynne said at a business contract signing ceremony in Hanoi on December 6 that Ontario attaches importance to ties with fast growing markets like Vietnam and expects to cooperate with Vietnam in the business, trade and education sectors. In HCMC, some Ontario businesses earlier clinched contracts with Vietnamese partners in education, construction, innovation and hi-tech. Many cooperation agreements between universities and colleges of the two sides…... [read more]
According to experts, demand for construction and imported construction materials in the Middle East and Africa is growing fast. It is a good opportunity for Vietnam construction materials industry to expand its market-share in this potential region. Mr Ly Quoc Hung, Director of Africa, West and South Asia Markets Department announced that the development of the Middle East and Africa construction market is a golden opportunity for Vietnamese construction materials enterprises. Particularly, in the Middle East, construction is one of the booming industries. Thanks to foreign currency revenues from oil and gas industry, Middle East countries are accelerating the investment in…... [read more]
As the flagship trade show for the electronics industry, Nepcon Vietnam 2017 will return to Hanoi, marking 10 years in Vietnam, and will deliver to the market the new SMT & Testing Technologies and Supporting Industries for electronics manufacturing. “Industrial Components & Subcontracting Vietnam 2017” will be one co-located exhibition with Nepcon Vietnam 2017, which is focusing to enhance supporting industry in Vietnam, and increase the localisation rate from the recent 10-30 per cent to hit an expected 45 per cent or more, to enjoy preferential rules of origin in most FTAs Vietnam has been taken part in. However, at…... [read more]
Recentinformation from the Thailand Board of Investment shows that thecountry's outward investment in ASEAN-member countries has undergone anupward trend since 2007, with last year's investment at 4.5 billion USD,equal to Thailand's investment in the EU. Most of the Thaiinvestment in ASEAN was in Singapore, Indonesia, Vietnam and Myanmar,according to Chokedee Kaewsang, Deputy Secretary General of the ThailandBoard of Investment. With more than 1.4 billion USD between2009 and 2013, Vietnam was ranked third in receiving investment fromThai enterprises, after Singapore and Indonesia. Capital flow toVietnam has increased sharply recently, especially after the purchaseof Metro Cash & Carry Vietnam by Thailand's Berli…... [read more]
