Cuban officials answers participants’ questions at the seminar on February 5 (Photo: VNA) HCM City (VNA) – A seminar was held in Ho ChiMinh City on February 5, introducing Cuba as a potential market, in terms ofboth trade and investment, for Vietnamese businesses.Pham Thiet Hoa, Director of the Ho Chi Minh CityInvestment and Trade Promotion Centre, said Vietnam and Cuba boast soundtraditional relations along with expanding economic and trade ties. Vietnam isnow one of the 10 biggest trade partners of Cuba and also the second largestAsian trade partner of the Latin American nation.However, bilateral trade remains modest comparedto the two countries’ demand and potential, he noted, elaborating thatVietnam’s exports to Cuba are estimated at 240 million USD per year, accountingfor only 3.5 percent of Cuba’s total annual trade – nearly 7 billion USD.Hence, there remains much room for Vietnamese firms to invest in and trade withCuba.Hoa noted Cuba has big demand for food, consumergoods, footwear, textile-garment, and computer devices, which are also thestrengths of Vietnam. Meanwhile, it is strong at pharmaceuticals, training,health care, and construction, which the Southeast Asian nation is interestedin.Promoting investment in and trade with Cuba willalso help Vietnamese enterprises to access the vast market of the LatinAmerican and Caribbean region.Indira Lopez Arguelles, Cuban Consul General toHCM City, said her country’s economy has improved in recent years with annualgrowth rate maintained at 4 – 5 percent. A stronger economy has also encouragedconsumption in Cuba while the country still has to import most of consumergoods. This is a good… [Read full story]
The US has been a target market for many Vietnamese businesses. Yet the 300 million-strong market is also a demanding market in terms of quality standards, requiring firms to exert efforts to penetrate, reported the Thoi bao Kinh te Viet Nam (Vietnam Economic Times). The newspaper quoted Truong Thuy Linh, Vietnamese Trade Counsellor in Houston , as saying that the US market is diverse in its demands with strict requirements, a major obstacle for Vietnamese enterprises. According to US statistics, Vietnam is now the 13 th largest supplier of goods to the US . The market share of Vietnamese products…... [read more]
The commercial counsellor at the nation's embassy in Moscow, Vu Van Quang, spoke to Thoi bao Kinh doanh (Business Times) about demand for Vietnamese products in Russia. What is your assessment of Viet Nam-Russia trade relations? A trade agreement was signed between Viet Nam and Russia during Prime Minister Nguyen Tan Dung's visit to Russia in December 2009. The two sides have signed three strategic agreements on energy, oil and gas and trade. In terms of trade, both countries have agreed to discuss the signing of a free trade agreement. On energy, Russia reached an agreement to build Viet Nam's…... [read more]
VietNamNet Bridge - The fast food market has formed in Vietnam, with a series of foreign food chains. Why don't we see many local brands? The invisible war Fast-food chains seem to be not affected by economic downturn in Vietnam when we see a series of strong brands having entered and are about to enter Vietnam. The large market with 90 million people and the high percentage of population of under 30 is very attractive to domestic and foreign investors. The second factor contributing to the attractiveness of the fast food market is that food is one of the four…... [read more]
Vietnam, Cuba Promoting Trade and Investment Cooperation Approximately 20 Cuban businesses in many industries had direct meetings with Vietnamese businesses at the 7th session of the bilateral Business Committee and the Seminar on Trade and Investment Promotion into Cuba. The programme was organized by Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with the Cuban Embassy in Vietnam, on the occasion of the visit by the Cuban Chamber of Commerce's business delegation led by Vice President Odalys Seijo to Vietnam. At the meeting, Dr Doan Duy Khuong, Vice President of VCCI, said that Vietnam always considered Cuba its closest…... [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,…... [read more]
