Trade – Investment

A credit contract worth USD1.2 billion to invest in Hau River 1 Thermal Power Plant was signed among the Vietnam National Oil and Gas Group (PVN), Korean Export and Import Bank (Kexim), and nine foreign commercial banks on November 23rd.

Up to 88 businesses will be presented with the “Vietnam Value Award 2016” in recognition of their national strong brand names on November 30th, officials have announced.

Investors Cai Mep - Thai Son - VINACONEX E&C - Bridge 12 JSC - Khanh An - Cienco 1 have proposed an investment worth nearly VND14 trillion in Van Don – Mong Cai highway, under BOT type, to the Quang Ninh provincial People’s Committee.

Vietnam continued to top Southeast Asia’s exports to Canada, as well as total bilateral commodity exchange to the country, in the first nine months of 2016, reported the Vietnam News Agency.

A USD300 million project, consisting of a seaport and industrial park at the Dam Nha Mac area in Quang Yen town in the northern province of Quang Ninh, has been granted an operating licence.

The Vietnam National Petroleum Group (Petrolimex) plans to import nearly 2.2 million tons/cubic meter of petrol and oil to meet the consumption demand during the Lunar New Year (Tet) 2017, a 10% increase over a year earlier.

The 14th International Glass Products, Glass Manufacturing, Processing and Materials Exhibition (GlassTech Asia 2016) will take place at the Sai Gon Exhibition and Convention Centre, on November 24th - 26th.

Japanese businesses are keen to share experience, transfer technology and invest in the construction of metro line 3A and a trade centre at the central station of metro line No1 in Ho Chi Minh city.

The Ho Chi Minh city’s Gross Domestic Product (GDP) in 2016 will reach an estimated 1.037 quadrillion, up 8.05% over a year earlier, with sharp growth in industry and construction, according to a report about the city’s socio-economic development in 2016 and missions for 2017.

The capital Hanoi has attracted 445 foreign direct investment (FDI) projects so far this year, with a total registered capital of USD2.8 billion, a 2.6 fold increase over a year earlier.

The third Vietbuild Hanoi International Exhibition on construction, building materials, real estate, and interior and exterior decoration, has opened in Hanoi.

The Hanoi city People’s Committee has issued Document 6510/UBND-KT, building a project of establishing investment promotion, trade and tourism fund.

Twenty businesses from Ulsan city, the Republic of Korea, arrived in central Quang Ngai province on November 17th to explore investment opportunities.

(CPV) - Vietnam and EU agree in principle on a Forest Law Enforcement, Governance and Trade Voluntary Partnership Agreement (FLEGT VPA) which improves forest governance, address illegal logging and promote trade in verified legal timber products from Vietnam to the EU.

The 2016 “Ho Chi Minh city - Integration and Development” festival will open at 30/4 (April 30th) Park, District 1, from December 1st to 3rd.

The Saigon Union of Trading Co-operatives (Saigon Co.op) has finalized goods reserve for three months before, during and after the Lunar New Year (Tet) 2017 with a total volume of 110,000 tons, a year-on-year rise of 15%, worth over VND3 trillion.

Prime Minister (PM) Nguyen Xuan Phuc has decided to earmark an additional VND42.75 billion for the Ministry of Agriculture and Rural Development from the 2016 state budget estimates for economic work.

The Hanoi People’s Committee has ratified adding trade centres to the city’s wholesale and retail network scheme by 2020, with a vision toward 2030.

The development of a knowledge-based economy is expected to help Ho Chi Minh City realise its ambition of becoming a major centre of economics, finance-trade and science-technology in Southeast Asia.

The southern province of Tien Giang has fulfilled state budget collection for 2016, two months ahead the year’s schedule, said Mr. Phung Van Minh, Deputy Head of the provincial Department of Taxation.

So far, the Vietnam International Food Industry Exhibition (Vietnam Foodexpo) 2016 has attracted 550 booths of 400 domestic and foreign companies.

The Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade on November 9th signed a memorandum of understanding (MoU) to intensify cooperation in promoting the production and consumption of agro-forestry-fishery products between 2016 and 2020.

The Ministry of Industry and Trade (MoIT) on November 8th signed an agreement with Japanese Marubeni Company and the Republic of Korea’s KEPCO Company for the Nghi Son 2 Build-Operate-Transfer (BOT) thermal power plant.

(CPV) – Cashew export from the start of the year maintained growth in both volume and value, reported the Ministry of Agricultural and Rural Development.

The Ho Chi Minh city People’s Committee has approved a commodity preparation plan for the Lunar New Year (Tet) 2017 with a total value of about VND17 trillion, up 5.3% from last Tet.

Prime Minister (PM) Nguyen Xuan Phuc has issued a Decision recognizing Dau Tieng district in the southern province of Binh Duong as a new-style rural area.

The Vietnam National Administration of Tourism (VNAT) has forecast the country would attract 9.7 million foreign tourist arrivals in 2016, thanks to continuing two-digit growth at markets.

(CPV) - The Civil Engineering Construction Joint Stock Corporation 8 (CIENCO8) has recently completed and put into full operation the Coc Pai bridge (K299+450) on the National Highway 4, located in Xin Man district, Ha Giang province.

(CPV) - After receiving the legal approval from the State Bank of Vietnam for setting up a wholly foreign-owned entity in the nation, the Republic of Korea’s leading investment Bank Woori on November 7th officially joined Vietnam retail banking market.

Steel production in October continued to enjoy a sharp year-on-year increase after Vietnam applied safeguard measures against steel bar and steel billet imports.