Dec. 29 – There is still much potential in the German market for Vietnamese exporters to explore, said participants in a conference held in Ho Chi Minh City on Tuesday.
While Germany has grown into one of Vietnam’s major trading partners since 2007, the current export volume to the European country is still modest compared to the volume of export to China, Thailand and India, noted Do Thang Hai, director of the Trade Promotion Agency at the Ministry of Industry and Trade (MIT). Continue reading
Germany now Vietnam’s largest EU trading partner
Nov. 3 – In 2010, bilateral trade between Vietnam and Germany reached US$4.1 billion, showing substantial development since the two countries set up diplomatic agreements on September 23, 1975. The mutual understanding between Vietnam and Germany has been further strengthened through maintaining trustworthy partnerships and a political consultation mechanism between the two Foreign Ministries that was established in 2008. Moreover, the two countries have signed a number of agreements to form a legal foundation for bilateral economic cooperation such as the Agreements on Double Taxation Avoidance, Investment Encouragement and Protection, Maritime Shipping and Aviation.
As German Chancellor Angela Merkel has recently pointed out in her official visit to Vietnam for the Vietnam-Germany Economic Forum, German entrepreneurs consider Vietnam as fertile ground to do business, particularly in the high-tech industry as well as in education and environment. She also expressed her good impressions on Vietnam’s socioeconomic achievements, particularly in the last 10 years, and affirmed that Ho Chi Minh City was the most dynamic economic center in Vietnam. Thus, Germany would like to establish additional cooperative relations with Vietnam in general and HCM City in particular. She also identified some key issues to enhance Vietnamese investment environment. Continue reading
Aug. 22 – In the first seven months of this year, Vietnam, with 43 cities and provinces, attracted 651 additional foreign direct investment projects.
The top cities and provinces are:
Hai Duong (northern province)
May 18 – Nguyen Trung Tin, the Vice Chairman of the Municipal People’s Committee of Ho Chi Minh City, has pledged to create more favorable conditions for investors to develop their business in Vietnam’s biggest city.
Speaking at a seminar held on April 26 in the city titled “Evaluation and Solutions to Improve HCMC’s Investment Environment 2011,” Tin also highly valued domestic and oversea investors’ contributions to the city’s socio-economic development. He also affirmed the stable investment environment of the city and he believed HCMC is an attractive and reliable destination for investors. Continue reading
Mar. 31 – Vietnam’s government aims to boost the nation’s shipping volume by more than 400 percent over the next 10 years by investing heavily in its ports.
The emergent Southeast Asian economy is channeling billions of dollars into building ports for container ships in a move to draw export-oriented industry from China. Continue reading
Jan. 14 – Licensed last year by the Ministry of Industry and Trade (MoIT), Vietnam’s first commodity exchange became operational on January 11 in Ho Chi Minh City.
The Vietnam Commodity Exchange (VNX), with a registered capital of US$7.5 million, is allowed to exchange all types of commodities under MoIT regulations. According to its general director Nguyen Duy Phuong, the VNX will initially trade coffee and rubber. Steel will become another commodity on the trading list in the second quarter of 2011. All three commodities are Vietnam’s major exports. Continue reading
Nov. 18 – Vietnam’s State Securities Commission is looking to increase the minimum capital requirement for companies wanting to list on the nations bourses.
In a new draft currently being prepared by the stock regulator, any company that wishes to be listed on the Ho Chi Minh Stock Exchange will need to have a minimum registered capital of US$6.16 million or significantly less, US$1.54 million, if they wish to list on the Hanoi Stock Exchange. Continue reading
Sept. 30 – Lam Dong Province in central Vietnam is seeking local and foreign investors to support a 1,000 hectare tourism complex.
Local authorities are offering 24 projects for investment amounting to a total of US$1.87 billion. The majority of those projects will involve huge investments in the trade and tourism sectors. Continue reading
Sept. 23 – Vietnam’s Ministry of Finance has promised to lower port fees in response to letters received from the European Chamber of Commerce in Ho Chi Minh City in April and August.
The EuroCham letters pointed out that fees for the Cai Mep–Thi Vai port are as much as two to four times more expensive compared to other ports in the region, particularly Singapore and Malaysia. Continue reading
Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30.
The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to VND860,000 per flight following the routes below: Continue reading
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