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maandag 20 februari 2017

Vietnam: With TPP dead, Vietnam should focus on FTA with EU: EuroCham

With TPP dead, Vietnam should focus on FTA with EU: EuroCham
Asked to compare the benefits the EVFTA and the TPP may bring to Vietnam, Behrens said the EU agreement is expected to contribute seven to eight percent to Vietnam's overall growth on an annual basis. The EVFTA will also help increase wages for unskilled Vietnamese workers by 3 percent due to changing market dynamics and enable a 50 percent spike in Vietnam's exports to the EU by 2020. Vietnam's imports from the EU are also projected to rise 43 percent by 2020, he noted.
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Business news in brief
In addition, domestic suppliers and FDI enterprises have limited information about each other's demands. The relationship between Vietnamese enterprises is also loose, which is very necessary for enhancing the competitiveness and competitive advantages. In many countries, relationships between enterprises can be established through the development of industrial clusters. However, the establishment of industrial clusters in Vietnam is lacking in planning, with the main purpose being to clear land for production rather than creating relationships between enterprises.
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Dutch company plans vegetable seedling centre in Ha Nam
During a working session with the local authorities in Ha Nam on February 14, Director for Research of the Bejo Zaden Group, Bert Schrijver, said the group needs about 10-15 hectares to build the centre and asked for the province's support by ensuring fertile land, good irrigation, and transport convenience for the project.
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East-West Seed launch agricultural scholarship program to celebrate 35th anniversary
We believe that encouraging agricultural study lays the foundation for the future of food production. We see this scholarship program as continuation of our commitment to smallholder farmers and helping them improve their livelihood and that of their children," says CEO Bert van der Feltz.
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Car imports from ASEAN states explode in January, sparking fierce local competition
"By 2018, when the import tax becomes zero per cent, the volume of imported cars will rise dizzily because many businesses will stop assembling cars in Vietnam and shift to importing as a way to cut costs," Ninh Huu Chan, General Secretary of Vietnam Automobile Manufacturers' Association (VAMA) told anninhthudo.vn.
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EU-VN trade treaty new focus after TPP-fallout
The EU has become ASEAN's second largest trade partner after China, while ASEAN is the EU's third-largest trade partner outside Europe, after the US and China, he said. "In fact, bilateral merchandise trade has almost doubled in the past 10 years," Fontan said. "More impressive still, the EU is the largest investor in ASEAN economies."
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Invitation To Consultation Workshop On Two Reports Surveying Practical Business Integrity Experiences In Vietnam
These workshops are for interested businesses to learn about key findings of the studies and contribute to the study reports which will be finalized after the workshops. The involvement and open sharing of experiences and ideas by those engaged with and doing business in Vietnam is invaluable to the process of concluding meaningful research reports.
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VN ranks 86th in Talent Competitiveness
Andree Mangels, general director of Adecco Vietnam, said: "Vietnam shows a mixed readiness in all aspects of the talent readiness for technology, although it is not surprising to find it well-positioned in entrepreneurial spirit as the country aims to have one million start-ups by 2020.
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Interbank interest rates fall sharply
The newsletter for the week from February 6 to February 10, 2017 of Bao Viet Securities Company (BVSC) said last week, the State Bank of Vietnam (SBV) newly injected 1.863 trillion dong through OMO channel, while the matured capital in the week was 113.577 trillion dong. Therefore, 111.714 trillion dong was net injected by the State Bank through this channel.
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Reference exchange rate declines by 2 dong
The State Bank of Vietnam set the reference exchange rate for VND/USD at 22,234 VND per USD on February 16, down 2 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate for commercial banks during the day is 22,901 VND and the floor rate, 21,567 VND per USD.
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Vietjet sees strong performance in 2016
Vietjet said it achieve a technical reliability score of 99.56%, making it among the highest reliability rate group of Airbus 320/321 operators in the region. However, it did not say how the reliability rate was recognized. Vietjet Air Training Center has offered 25,249 training hours for 8.287 students, completed 655 training courses, and issued 3,352 certificates to learners, ensuring to provide professional manpower for its stable and solid development plans.
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Vietnam among top five Asian exporters to Canada
Vietnam remained the fifth biggest exporter to Canada in Asia, after China, Japan, the Republic of Korea and Taiwan (China) in 2016. It also led Asean in two-way turnover with Canada in the year, with 4.14 billion USD, an increase of 1.1 percent year-on-year, according to Canadian statistics.
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Singapore becomes Vietnam's biggest FDI investor in January 2017
There are 175 new projects granted with investment licenses nationwide with the total registered capital of more than $1.2 billion, according to the data in January 2017 of Foreign Investment Agency (Ministry of Planning and Investment). The total additional registered capital of 76 projects was $179.1 million. The capital contribution and share purchase of foreign investors was about $165 million. The total newly registered capital, additional capital and capital contribution to purchase shares was $1.58 billion, up nearly 10 percent year-on-year.
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Nipro starts work on new $300 million facility in Vietnam
The $300-million plant is meant to increase the company's capacity to meet the growing demand for medical equipment and build a more stable supply system. According to Nipro's announcement, the company targets a consolidated net sales of JPY500 billion ($436 million) by 2020 and JPY1 trillion by 2030. The wholly-owned subsidiary called Nipro Vietnam Co., Ltd. found an ideal location in Ho Chi Minh City, due to its suitability for export-import activities and abundant young workforce.
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Major realty projects drive early FDI
Supported by strong liquidity in 2016, a range of foreign invested real estate projects in major Vietnamese cities is expected to launch for sale in 2017. This expected expansion is a result of stable economic growth and increased demand from both domestic and international buyers following the government's decision to ease regulations allowing foreigners to own properties in Vietnam.
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Big sell-off in VinaCapital's recent real estate strategy
"This disposal is in accordance with both the pre-and post-2016 extraordinary general meeting stated policy to divest projects in a controlled and orderly manner. The proceeds received from this exit, in conjunction with those collected from past and future disposals, will be used to cover VinaLand's commitments, including operating costs and distributions to shareholders," said managing director David Blackhall in a statement.
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Restructuring power sector in 2016 – 2020 period
The Gencos must build and carry out the projects to enhance effectiveness of business administration; ensure ability of high competition, profitable production and business, increasing the ratio of equity capital for development investment in accordance with requirements of domestic and international financial organizations. Besides, it is necessary to encourage renewable energy power plants to meet the conditions to be eligible to directly participate in pilot competition electricity wholesale market.
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The Operating Regulations of the National Steering Committee for the Power Development
Accordingly, the National Steering Committee is responsible to direct, inspect and speed up construction investment works of the power plant and grid projects, especially the focusing and urgent ones in the National Power Development Planning approved by the Prime Minister. At the same time, the Committee directs construction investment in infrastructures and contract negotiation activities to import coal and liquefied natural gas (LNG) for power generation, and also directs checks for implementing policies on electricity purchase with foreign countries and renewable energy development.
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New lending regime comes into effect from March
The new regulation will allow borrowers with business cycles not exceeding one month to obtain revolving loan facilities from banks for up to three months. Rollover loans, which are quite common in other countries, will be also possible, provided that the borrower does not have non-performing loans and the total tenor of the rollover loan does not exceed 12 months following the initial disbursement and does not exceed one business cycle of the borrower.
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Information provision to the press to be made regularly
Under the Decree, ministries, central agencies and local administrations will hold press conferences at least once every three months to provide information to the press. When necessary, they will appoint representatives to attend weekly press briefings held by the Central Dissemination and Education Commission, the Ministry of Information and Communications and the Vietnam Journalists Association so as to promptly provide official information to the press.
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New regulations on lending activities of foreign credit organizations
Accordingly, lending activities of credit organizations for customers will be launched based on agreements between the credit organizations and customers suitable with the Circular mentioned above and related legal documents, including laws on environmental protection.
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