Vietnam has usurped Japan for the first time to become the fourth largest importer of products from the Republic of Korea (RoK), in the first seven months of this year. According to statistics from the Korea International Trade Association (KITA) and the Korea Trade-Investment Promotion Agency (KOTRA) published on August 30, the RoK’s exports to Vietnam reached 16.35 billion USD while the amount to Japan was worth 15.48 billion USD. The RoK’s shipments of wireless communication device components to Vietnam shot up by 29.9 percent from the same period last year. A RoK official said that exports to Japan plunged by 19.3 percent, spurred by Japanese yen devaluation and low…
Hanoi opens new waste treatment plant
The People’s Committee of Hanoi held a ceremony on August 27 to inaugurate and put the Phuong Dinh waste treatment plant into operation in Dan Phuong district. The factory, which will use Martin technology from Germany, is one of the pioneer facilities in Vietnam in combusting waste to produce electricity. It has a total investment capital of 270 billion VND (12.2 million USD) and a processing capacity of 300 tonnes of waste per day. The plant will help meet the demand for waste treatment in the Dan Phuong, Hoai Duc and Quoc Oai districts as well as industrial parks and craft villages in the localities, said Vu Hong Khanh, Deputy…
Hanoi, Fukuoka forge links in investment, trade, tourism
Vice Chairman of the Hanoi People’s Committee Le Hong Son has called on businesses from Japan’s Fukuoka prefecture to penetrate into the local market in order to fully tap each side’s advantages, reported Ha Noi Moi newspaper. Speaking at a conference in Fukuoka on August 26, which drew 65 Japanese and Vietnamese enterprises, Son pledged the best possible conditions for the two localities’ businesses to cooperate in investment, trade and tourism. The capital city aims to attract foreign investments towards up-to-date technologies and technology transfer in association with sustainable development, he said. Hanoi is striving to boost two-way trade with Fukuoka and rolling out strategies to lure more tourists from…
Minimum pay increase for 2016 yet to be fixed
The Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam General Confederation of Labour (VGCL) fell short of fixing the minimum wage increase for 2016 during a meeting in Hanoi on August 25. The VGCL, representing employees, proposed a 16.8 percent pay hike while the VCCI – representative of employers, recommended a mere 10 percent, according to Deputy Minister of Labour, Invalids and Social Affairs Pham Minh Huan when briefing about the outcomes of the second meeting of the Vietnam National Wage Council. If the third meeting, slated for September 3, fails to reach a consensus, the Council will decide the final solution to submit to the Prime Minister…
HCM City’s August CPI drops 0.12 percent monthly
The August consumer price index (CPI) in Ho Chi Minh City declined 0.12 percent from the previous month, contributing to an annual 0.66 percent rise in the southern economic hub’s average eight-month index. The municipal Statistics Office said on August 22 that as six out of the 11 main goods categories had their prices down, noting that transport prices saw the sharpest decrease month on month – 2.4 percent, which was driven by two petrol price cuts in August. Housing, electricity, water, fuel and construction material prices were down 0.66 percent – the same pace in the culture and entertainment category. Decreases were also seen in the price of household…
Da Nang airport to have capacity improved
Da Nang International Airport, one of Vietnam’s three major airports, has asked the government for permission to upgrade its capacity to 20 million passengers a year by 2020 under a revised development blueprint. Deputy Prime Minister Hoang Trung Hai has assigned the Ministry of Transport to verify and approve the revised blueprint for the airport, which also aims to raise its cargo handling capacity to 200,000 tonnes each year. In addition, the airport will be expanded to cover about 855.57 hectares, accommodating a maximum of 41 planes. Da Nang airport caters to travel demand to and from the central Da Nang city and neighbouring areas. It also serves as a…
List of banks providing property guarantees released
The State Bank of Vietnam (SBV) has released a list of 33 commercial banks that are able to provide bank guarantees for future built property projects. There are 25 local commercial banks, including well-known names such as Vietcombank, VietinBank, BIDV, Agribank, Techcombank, SeABank, PVComBank, LienVietPostBank, NCB, and HDBank. They are joined by nine foreign banks: ANZ Vietnam, HSBC Vietnam, Hong Leong Vietnam, Shinhan Vietnam, Standard Chartered, Indovina Bank, VID Public Bank, Vietnam – Russia Bank, and Viet – Thai VinasiamBank. Sacombank, Eximbank, VIB, and OCB are surprisingly not on the list. The necessity to secure a guarantee from a financial institution for future built property projects comes under Circular No.…
Binh Duong attracts over 1.2 bln USD in FDI in seven months
The southern province of Binh Duong attracted over 1.2 billion USD in foreign direct investment (FDI) from January-July, surpassing the yearly target of one billion USD. During the period, the locality welcomed 119 new investment projects and increased the allocated capital to 79 existing ventures, according to the provincial People’s Committee. In July alone, the province lured 631 million USD in FDI, including 33 newly-licensed projects worth 363 million USD and 20 operations adding more 268 million USD. Binh Duong is currently ranked second across the country in FDI attraction. Last year the event attracted 320 companies from 21 countries and territories and 22,000 visitors. http://en.vietnamplus.vn/binh-duong-attracts-over-12-bln-usd-in-fdi-in-seven-months/76030.vnp (150813)
HCM City prepares for travel expo in September
The 2015 International Travel Expo in Ho Chi Minh City will take place from September 10-12. Vietnam’s main international tourism event, with its motto of One Decade – One Mekong – One World this year, is expected to draw 25,000 visitors besides the foreign media. According to a release from the organisers, 22 Vietnamese provinces, 13 international tourism promotion organisations, and 25 tourism enterprises from 20 countries and territories have registered to take part in the event. It will be held at the Saigon Exhibition and Convention Centre in District 7. Last year the event attracted 320 companies from 21 countries and territories and 22,000 visitors. http://en.vietnamplus.vn/hcm-city-prepares-for-travel-expo-in-september/75969.vnp (150811)
経済： オーストラリアは、ベトナムの鋼のダンピング防止の調査を終え
The Australian Anti-Dumping Commission (ADC) has concluded its investigation into of zinc-coated (galvanised) steel imported from India and Vietnam, the Vietnam Competition Authority under the Ministry of Industry and Trade said on August 5. The ADC said Vietnamese galvanised steel shipped to Australia was not sold at dumping prices, therefore posing no threat to Australia’s domestic steel production. The ADC’s investigation was launched on July 11, 2014 http://en.vietnamplus.vn/Home/Australia-ends-antidumping-investigation-into-Vietnamese-steel/20158/69493.vnplus (150807)
Seven-month overspending estimated at 4.6 billion USD
Budget overspending reached an estimated 100.7 trillion VND (4.6 billion USD) in the first seven months of this year, equal to 44. 5 percent of the year’s budget estimates, the Ministry of Finance said on August 5. Total revenues in the first seven months were 544 trillion VND or 59.8 percent of the year’s estimates, up 6.6 percent against the same period. Of which 404 trillion VND came from domestic revenue and the rest from import-export activities. In the period, the country spent 645.3 trillion VND, or 56.3 percent of the year’s estimates, representing an 8.1 percent increase from last year. To compensate for the over-expenditure, 114.5 trillion VND worth…