Trade – Investment

Prime Minister (PM) Nguyen Xuan Phuc has ratified an investment policy for the International Fund for Agricultural Development-financed (IFAD) project supporting business for farm households in Cao Bang and Bac Kan provinces.

On August 18th, Politburo member and Secretary of the Ho Chi Minh city Party Committee Dinh La Thang presided over a conference on transport connections among localities in the southern key economic region.

The Ministry of Agriculture and Rural Development (MARD) will no longer grant licences for seafood shipments from exporters blocked by the European Union (EU) for using banned substances in their products.

The Nhon Trach 2 thermal power plant in the southern province of Dong Nai is expected to produce 25 billion kWh for the national grid as by September 2016, said Director of the PetroVietnam Power Nhon Trach 2 company.

Trade revenues between Vietnam and the Eurasian Economic Union (EAEU) are expected to increase to USD10-12 billion by 2020, after a free trade agreement between the two sides takes effect in 2016.

The northern province of Bac Giang has earned around VND3 trillion (about USD135 million) from lychees and some VND2 trillion (USD90 million) from related services so far this year.

The Busan Bank (BS) of the Republic of Korea (RoK) opened its branch in Ho Chi Minh city on August 18th.

The Prime Minister has approved a technical assistance project in service of the World Bank’s City Infrastructure Financing Facility (CIFF) project.

The PetroVietnam Fertilizer and Chemicals Company (PVFCCo) on August 19th signed a Memorandum of Understanding with Japan’s UBE Industries Ltd (UBE) and Sojitz Corporation (Sojitz) to study the possibility of joining hands in building an Ammonia (NH3) production facility and derivatives from gas fields in south-eastern region.

The Finance Ministry held a conference in the Mekong Delta city of Can Tho on August 19th to launch a computerised lottery for 11 cities and provinces nationwide.

Vietnam and Indonesia will set up a hotline to handle emerging incidents at sea as agreed during a visit to Indonesia by Deputy Minister of Agriculture and Rural Development Vu Van Tam.

Vice Chairman of the Da Nang People’s Committee Ho Ky Minh expressed his hope to further strengthen the cooperative trade relationship between the city and Thailand during a reception for Ms Pitunun Samanvorawong, Trade Consul, Director of the Commercial Affairs Office of Thailand in Ho Chi Minh city, held on August 17th.

The Ministry of Industry and Trade’s Europe Market Department reported that, in the first half of the year, total trade turnover between Vietnam and the EU reached USD21.2 billion, a year-on-year rise of 9.05%.

The Ministry of Industry and Trade has released a draft decision approving Vietnam’s rice export market development strategy in the 2016-2020 period, with a vision to 2030, in order to remove difficulties for rice export.

The Quang Ngai provincial People’s Committee and the Dung Quat Economic Zone Authority on August 16th held a ceremony to mark the 20th year since the founding of the zone (August 16th), in which the zone authority was presented the First-class Labor Medal.

Total state budget collection in July was estimated to reach VND102 trillion, up 26.6% over a month earlier, bringing the figure for the first seven months to VND583.6 trillion, a year-on-year rise of 5.7% or 57.5% of the year’s estimate, reported the Ministry of Finance.

By the end of July 2016, more than 140,300 documents were produced through the Vietnam National Single Window (NSW) mechanism portal with the participation of 7,000 enterprises, reported the General Department of Vietnam Customs.

The Ministry of Construction has issued a decision adjusting planning for Hanoi capital by 2030, with a vision to 2050.

Japan’s Forval Corporation wants to expand investment in Vietnam, especially in Ho Chi Minh City in tourism, education and health care.

Vietsovpetro, a Vietnam – Russia joint venture, held a ceremony in the southern province of Ba Ria-Vung Tau on August 12th to mark its 35th founding anniversary and 30 years since its first tonne of crude oil was exploited.

The 2016 Vietnam Economist Annual Meeting (VEAM) opened in the central city of Da Nang on August 11th, attracting economists, financial scholars and business executives from around the world.

The Ministry of Agriculture and Rural Development is seeking to create measures to tackle falling exports of major farm products, to assure it reaches its goal of USD30 billion in export revenues of the agro-forestry-fishery sector for 2016.

A ground-breaking ceremony on August 10th kicked off construction of the Dung Quat industrial town in Binh Son district, the central province of Quang Ngai.

The 20th international exhibition on food processing, packing technology and equipment (Vietfood & Beverage - ProPack 2016) opened at the Saigon Exhibition and Convention Center, Ho Chi Minh city, on August 10th.

(CPV) - GE in Vietnam on August 10th received the Investment Register Certificate for transferring Doosan Engineering & Construction Heat Recovery Steam Generator (Doosan E&C HRSG) manufacturing and projects in Vietnam’s Dung Quat Economic Zone.

The Vietnam National Oil and Gas Group (PetroVietnam) earned a turnover of nearly VND253 trillion in the first seven months of 2016, in which VND50.7 trillion were contributed to the State budget, said Mr. Do Chi Thanh, Deputy General Director of the group.

This is one of the tasks given by the Government in action program implementing the National Assembly’s Resolution on socio-economic development plans for the 2016-2020 period.

The Joint Stock Commercial Bank for Development and Investment of Vietnam (BIDV) has committed to provide VND20 trillion (nearly USD1 billion) in loans for key projects in Ha Nam.

The Saigon Innovation Hub (SIHUB) was officially opened in the metropolis of Ho Chi Minh city on August 6th.

The northern province of Vinh Phuc pitched its potential, strength and projects in need of investment at a recent seminar in London.