JFE Steel, Japan’s second-biggest steelmaker, has announced it will invest 27 billion JPY (220 million USD) in a steelwork plant being constructed by the Formosa Plastics Group (China) in the central province of Ha Tinh. Speaking in a press conference in Tokyo, Shinichi Okada, Executive Vice President of the JFE Holdings Inc – JFE Steel’s parent, said that the investment is part of the corporation’s mid- to long-term growth strategy given Japan’s local demand is shrinking. JFE plans to purchase 5 percent stake in the plant’s operating company, Formosa Ha Tinh Steel (FHS), which is investing 10.5 billion USD in the first phase to build a rolling and metallurgy workshops…
Japanese giant retailer Seven & I Holdings to enter Vietnam
Seven and Eleven convenient store chain is expected to make its debut in Vietnam in 2017, according to Japanese newspaper Nikkei. US-based Seven Eleven Inc., a subsidiary of the Japanese retail conglomerate Seven & I Holdings, has signed a contract with IFB Vietnam, owner of the Pizza Hut restaurant chain in Vietnam, to open its first store in Ho Chi Minh City. The number of the establishments is set to reach 100 after three years and 1,000 ten years later. The company will send Japanese staff to transfer the original management and business models to stores in Vietnam. Boasting 38,000 supermarkets worldwide, Seven & I Holdings has thus far entered…
Rice export exceeds 2.8 million tonnes
Vietnam earned almost 1.2 billion USD from shipping more than 2.8 million tonnes of rice to foreign markets since the outset of this year, according to the Vietnam Food Association (VFA). The VFA also said that the domestic prices remain stable, ensuring profits for farmers. Mekong Delta provinces are currently planting summer-autumn crops across 1.7 million hectares and harvesting 3.54 million tonnes of rice in 650,000 hectares, favourable conditions for enterprises to collect material rice for export at the end of 2015. In 2014, Vietnam exported 6.32 million tonnes of rice, earning 2.84 billion USD and becoming the third largest rice exporter in the world after Thailand and India, according…
Vietnam, Japan work to enhance manpower quality
Vietnam’s Ministry Labour, Invalids and Social Affairs (MOLISA) and the TOA Institute, A Japanese general Incorporated Foundation, signed A Memorandum of Understanding on cooperation Training in Agriculture on July 27. Under the pact, Vietnamese Trainees in the Agricultural sector Will See A greater Chance to Work in Japan’s Hokkaido. Addressing the Signing Ceremony, MOLISA Deputy Minister Nguyen Thanh Hoa highlighted Efforts made by the Two Governments Have Resulted in the Increasing Quantity and quality of Vietnamese Trainees going to Japan to FURTHER Their working experience. The newly-inked pact Will Stimulate the Two Sides’ cooperation in Agro-Forestry-Fisheries, Which IS Among the most Prioritised sector of the MOLISA in terms of Enhancing…
Japanese group invests in real estate in Ho Chi Minh City
Japan’s Creed Group, a real estate firm specialising in principal investment and property development, signed a 200 million USD contract on July 26 with An Gia Investment and officially becoming a player in Ho Chi Minh City’s property market. Under the contract, the Creed Group will purchase shares of An Gia and in the company’s housing projects with the aim to provide “Japan quality” houses within the city. An Gia Investment CEO Nguyen Ba Sang said the contract will offer the company a strong financial source to implement real estate projects. An Gia plans to build 2,000 superior apartments each year towards having 10,000 units by 2020 with a total…
Vietnam’s trade deficit reaches 3.96 billion USD
Vietnam recorded a trade deficit of 936 million USD in the first half of July, bringing the total number since the beginning of this year to 3.96 billion USD. Statistics released by the General Department of Customs show that, in the reviewed period, total export-import revenues were valued at 13.38 billion USD, a 7.2 percent drop compared to the second half of June. Exports brought home nearly 6.22 billion USD, a decline of 16.1 percent, while imports were valued value at 7.16 billion USD, up by 2.3 percent. The increase in import value mainly stemmed from rising imports in a number of products, including crude oil (up 48 million USD),…
Income of Da Nang’s poor three times higher than VN average
The new standards were approved by the municipal People’s Council on July 9, for the period 2016-2020. The households in rural areas that are considered near-poor are those with average monthly income of over VND1.1 million to VND1.42 million/person and the rates are over VND1.3 million to VND1.69 million/ for urban households. According to the government’s standards to identify poor households in the period 2011-2015, the rural families with average monthly income of VND400,000 or less per person and urban families with earnings of VND500,000/person or less are recognized as poor. The rates for the near-poor households are income of VND401,000 to VND520,000/person/month in the rural area and from VND501,000…
Garment exports to US likely to hit 11 billion USD
Textile and garment exports to the US is likely to reach 11 billion USD this year, said Dang Phuong Dung, Vice Chairwoman of the Vietnam Garment and Apparel Association. The figure may double after the signing of the Trans-Pacific Partnership (TPP) agreement, which will benefit businesses with tariff cuts for imports, she added. Vietnam’s garment and textile products normally are levied import duties of 15-16 percent. However, the taxes will be cut down to 7-8 percent after the country joins the TPP and the products meet the requirements of origin. Currently, the US is the biggest importer of Vietnamese garment and textile products, consuming about half of the total exports.…
RoK to invest in hi-tech agriculture in Can Tho
The Republic of Korea (RoK) will provide a 500,000 USD aid package for the Mekong Delta city of Can Tho to boost its hi-tech agriculture. The capital will be used to build infrastructure and purchase modern machinery and equipment. The announcement was made during a meeting between local authorities and a delegation of Korean economic consultants led by Hak Min-kim. Three companies from the RoK are set to invest in Can Tho, including YouCel major in bio-cellulose manufacturing, Nexgen Biogen specialised in canola extracting for cooking oil and cosmetics, and Nano Bio One operating in bio-nano technologies. At the meeting, Chairman of the municipal People’s Committee Le Hung Dung expressed…
Japan seeks investment approval to upgrade HCM City canal
The Japan International Cooperation Agency (JICA) has asked municipal authorities in Ho Chi Minh City for permission to take part in the Xuyen Tam Canal upgrade project, worth over 5.1 trillion VND (around 234.1 million USD), in Binh Thanh and Go Vap districts, Hanoi Moi Newspaper reported on July 17. The project involves dredging the 6.21km main section of the Xuyen Tam Canal, which runs from Nhieu Loc-Thi Nghe Canal to Vam Thuat River, as well as dredging three other subsections, developing transport infrastructure and upgrading urban residential areas along the canal in Binh Thanh and Go Vap districts. JICA proposed to invest 3.5 trillion VND (approximately 160.5 million USD)…
We have moved to new office.
Dear All, On behalf of AGS Ho Chi Minh office, We would like to inform that we have changed our office address below: New office from：July, 20th, 2015 Address：12F Harbour View Tower, 35 Nguyen Hue street, District 1, Ho Chi Minh city, Vietnam Tel：outside Vietnam：+84-8-3914-3924 in Vietnam：08-3914-3924 FAX：outside Vietnam：+84-8-3914-3921 in Vietnam：08-3914-3921 Please update our new address. Thank you very much for your cooperation.
Corporate social responsibility discussed in Hanoi
Construction on a 1.8-billion-USD thermal power plant in central Nghe An province is expected to commence before October 10, reported the Thoi bao Kinh te Viet Nam (Vietnam Economic Times) newspaper. The building schedule was recently agreed on by the project’s investor – Vietnam National Coal-Mineral Industries Group (VINACOMIN) – and the Nghe An People’s Committee. The Quynh Lap 1 factory, located in the Dong Hoi Industrial Park, will consist of two turbines with a combined capacity of 1,200 megawatts. VINACOMIN will design a detailed construction plan at a 1:500 scale by mid-August to submit to the People’s Committee for approval. The power plant is set to become operational in…
Deputy PM Hai meets Gifu prefecture governor
Deputy Prime Minister Hoang Trung Hai received Hajime Furuta, Japan’s Gifu prefecture governor, on July 14 during Furuta’s working visit to Vietnam. At the meeting, Hai confirmed Vietnam treasures the relationship with Japan and considers deepening the comprehensive friendship and cooperation with Japan as one of its top external policy priorities. The Deputy PM recommended the Gifu prefecture encourage its enterprises to invest in agriculture and the support industry. The Deputy PM also thanked Furuta for his active role in promoting ties between the two countries. Governor Furuta hoped the Vietnamese Government would create more favourable conditions to facilitate contact and cooperation between Gifu and Vietnamese companies. There are currently…
US investors are interested in at least 4 areas in Viet nam
VietNamNet Bridge – US investors are interested in at least four areas in Vietnam, said Mr. Pham Viet Muon, former Vice Chair of the Government Office, an organizer of Vietnam’s investment promotion conference in the US on July 1-5. http://english.vietnamnet.vn/fms/business/135793/what-do-us-investors-want-in-vietnam-.html(.vietnamnet.vn 2015年7月14 日)
1.73 billion USD spent on livestock feed and material imports
The State Treasury of Vietnam has announced that it will issue 20-year Government bonds for the first time, between July 29 and December 31. According to a notice released by the State Treasury on June 30, the bonds will have a face value of 100,000 VND (4.6 USD) each. It is estimated that bonds worth 6-7 trillion VND (275-321 USD million) will be issued during the period. Those interested in the 20-year bond can register for direct purchases at the agency. The bonds will be issued the day the State Treasury gets money from the buyers. The Ministry of Finance and investors will negotiate the bond coupons at the time…
1.73 billion USD spent on livestock feed and material imports
Vietnam splashed out 1.73 billion USD on livestock feed and material imports in the first two quarters of the year, a year-on-year increase of 7.8 percent, according to Ministry of Agriculture and Rural Development. Most of the products were imported from Argentina (36.6 percent), the US (19.2 percent) and China (7.4 percent), the Hanoi Moi newspaper reported. In the period, 329 million USD was spent on importing 1.28 million tonnes of wheat, rising 5.1 percent in value and 31 percent in quantity from the same period last year. Australia and Brazil became Vietnam’s key wheat exporters with a market share of 53.8 percent and 28.5 percent, respectively. The country also…
Japan opens market to Vietnamese mangos
Japanese authorities recently gave the go ahead for importing Vietnamese mangos cultivated in Xuan Loc district in the southern province of Dong Nai. This is a great opportunity for Vietnamese mango growers to increase their consumer market, since previously only white flesh dragon fruit were approved for sale in Japan. Japan is Vietnam’s second largest fruit importer, with a market share of 8 percent, after China. The red flesh dragon fruit is expected to be authorised for export to Japan next. 2015 is a good year for Vietnamese fruit exports so far, particularly lychees, which were licensed for export to the USA, Australia, Japan, France and the Republic of Korea.…
Over 1,100 new businesses established in Dong Nai
Over 1,100 new businesses have been set up so far this year with a total capital of 4.1 trillion VND (187.9 million USD) in the southern province of Dong Nai. Another 220 enterprise increased their registered capital to a combined 2.2 trillion VND, according to the provincial Department of Planning and Investment. The total new registered capital of 6.3 trillion VND represents 70 percent of the yearly target, the department said, adding that the businesses generated more jobs for people, contributing to socio-economic development. In the period, 60 businesses submitted documents to dissolve, a 66-percent increase from a year ago while 240 branches and offices submitted documents to stop or…
Vietnam’s GDP growth in Q2 reaches five-year record
Vietnam’s gross domestic product (GDP) growth in the second quarter of this year reached a five year record, hitting 6.44 percent, reported Minister of Planning and Investment Bui Quang Vinh at the Government’s monthly meeting on June 29. The result brought the country’s GDP growth for the first half of this year to 6.28 percent, much higher than the same period five years ago, he said. According to the minister, the high GDP growth in the second quarter and the first six months of this year showed a economic recovery and development trend despite difficulties. He revealed that the agro-forestry-fishery sector rose 2.36 percent, while industry-construction grew 9.09 percent and…
【Importnat Notice】Moving and closing office
Dear Valued Clients and Partners First of all, we are grateful for your cooperation and support for AGS HCMC Branch in the last time. Due to development and expansion our business, we would like to inform about the change of business address of new office at A.I. Global Sun Partner with details as follows: New business address:12th Floor, Habour View Tower, 35 Nguyen Hue Street, Ben Nghe Ward, District 1, HCMC. Time of changing of address: From the dated Jul 20th, 2015 (Monday) Please be inform that AGS HCMC Branch Office will be closed to move the office from 08:00 AM Friday, Jul 17th 2015 to 17:00 PM Friday, Jul…
Japan invests 37.7 billion USD in Vietnam projects
As of June 20, Japan had invested 37.7 billion USD in 2,661 projects in Vietnam, statistics from the Foreign Investment Department show. Of this the manufacturing/processing sector accounted for 31.3 billion USD and 1,357 projects. An amount of 1.66 billion USD has been invested in the property sector. Japanese investors have a presence in 49 of the country’s 63 cities and provinces. Thanh Hoa is the biggest beneficiary with 9.68 billion USD in 10 projects, accounting for more than a quarter of all Japanese investments. Hanoi is second with 4.1 billion USD in 661 projects, and Binh Duong third with 3.85 billion USD in 248 projects. The biggest Japanese projects…
ベトナム：M&Aが急激に上昇する見込みがある
Vietnam is among the emerging market having high transactional growth in merger and acquisition (M&A) activities, according to a latest report released by the Baker McKenzie law firm. Stand-out markets for predicted high transactional growth in next five years include developed economies such as the Netherlands, the UK, Sweden, China, Hong Kong (China) and India, and emerging markets of Mexico, Egypt, and Vietnam, Singapore’s Business Times quoted the report as saying. Globally, Baker McKenzie analysts predicted M&A deals to rise to 2.7 trillion USD in 2015 before accelerating to 3 trillion USD in 2016 and 3.4 trillion USD in 2017. M&A activity relating to emerging markets will grow dramatically, rising…
Japan, ancient city host activities
HOI AN (VNS) — The ancient city will host the annual Hoi An-Japan Cultural Festival with a series of activities from August 28 to 30, Hoi An’s culture centre said yesterday. This is the 13th time the city has held the event, with the participation of local residents, the Japanese community in Hoi An and Da Nang, and tourists visiting the city. Japanese residents living in Hoi An and artists from Japan will introduce traditional dances like yasakoi, yakakoi; paper cutting (Kirigami); bonsai and photo exhibitions for the 12th anniversary of co-operation and culture exchange between Hoi An and Japan; a Haiku calligraphy exhibition; and folk performances. The event will…
Vietnam to create a strategy for developing cultural industry
The Ministry of Culture, Sports and Tourism has been asked to map out a strategy for developing Vietnamese cultural industries through 2020. Under Deputy Prime Minister Vu Duc Dam’s conclusion on a draft of the strategy for developing Vietnamese cultural industries through 2020, the ministry is asked to review, formulate and issue mechanisms and policies to promote the development of cultural industries in Vietnam. He noted that it is necessary to define the scope of the strategy to make it suitable with factual contexts in Vietnam and maximise Vietnam’s advantages. The completed strategy is expected to be submitted to the Prime Minister at the end of the third quarter this…
Microsoft opens first authorised reseller in Vietnam
Microsoft Mobile Vietnam on June 18 officially inaugurated its first authorised reseller store in Vietnam, which is run by its local partner FPT Corporation. The store is located at No. 63 Ly Thuong Kiet street, Hanoi. It will sell the corporation’s products, including Lumia phones, feature phones, as well as Microsoft software products such as Office 365. At the store, customers can also experience and understand integrated data access on mobile devices and the latest news updates on Microsoft’s applications and services at Live Experience Table area. “Vietnam is a key focus market for phone businesses. Microsoft has made significant investments in changing the brand from Nokia to Microsoft and…
HCM City: ODA disbursement on the rise
The 2011-2015 disbursement of official development assistance (ODA) in Ho Chi Minh City achieved 99.5 percent of the original goal of 26.57 trillion VND (about 1.23 billion USD). The figure showed a 213 percent increase compared to the 2006-2010 period, according to the municipal Department of Planning and Investment. Since 2011, the city has raised about 49.6 trillion VND (2.3 billion USD) worth of ODA capital for 13 new projects and three ongoing projects. Of which, non-refundable aid hit 122 billion VND (5.7 million USD) and the remaining were loans and soft loans. ODA capital contributes an average of 20-30 percent of the city’s budget to infrastructure development each year.…
Trade deficit recorded during first five months of 2015
Vietnam recorded a trade deficit of more than 3 billion USD, despite an increase in exports, in the first five months of 2015, according to the most recent statistics released by the Vietnam Customs agency. In the period, total exports were valued at 63.45 billion USD, a 7.7 percent increase, equivalent to 4.55 billion USD, on a yearly basis. In terms of imports, the total value reached 66.5 billion USD, up by 16.4 percent or 9.36 billion USD. As a result, there was a 3.05 billion USD deficit in trade in the first five months of 2015. Total import –export turnover for the period reached 129.94 billion USD, up 12…
Vietnamese lychee meets Canadian standards
High-quality Vietnamese lychee meets the standards of the Canadian market, according to a Canadian importer. Rex Yu from Manley Sales Company, who imported the first batch of Vietnamese lychee on June 10, told Vietnamese News Agency correspondents that Vietnamese lychees meet quality requirements of the Canadian Food Investigation Agency (CFIA). He expressed his hope that Vietnamese lychee would secure a share in the Canadian market as Vietnamese fresh dragon fruits and longan have, both of which are currently imported by his company. The company plans to distribute Vietnamese lychee across the country, from British Columbia on the west coast to Quebec on the east coast, within a week. The Vietnamese…
ベトナムホイアン市で観光者向けの音楽祭が開催される
The authorities of Hoi An City are organizing more music performances to promote tourism and help preserve cultural values of the central city. The band “Tieng duong cam-Cung dan tuoi tho” (Piano sound-Childhood melody) will perform at 78 Le Loi Street on the first and third Fridays of every month. Held by the Center for Culture and Sports Center and Department of Education and Training in Hoi An, the program features performances of second to seventh graders in Hoi An. The music program aims to woo visitors to the ancient town and create a playground for local children to show off their talents and promote the genre of classic music.…
Vietnam attends Asia’s leading ICT and broadcasting industry events
Sixteen Vietnamese businesses participated in the Communic Asia 2015, Enterprise IT 2015 and Broadcast Asia 2015 trade shows held from June 2-5 in Singapore. The events attracted about 2,000 leading information and communications technology (ICT) and broadcasting enterprises from all over the world. The tradeshows focused on presenting and showcasing smart technologies designed to better connect cities, governments, enterprises and consumers. Highlights included innovations in 5G, Big Data, Cloud, Connected Devices, Internet of Things and over-the-top (OTT). (en.vietnamplus.vn 2015年6月16日)