Trade – Investment

The self-elevating offshore drilling rig PV DRILLING III, owned by PetroVietnam Drilling and Well Services Corporation (PV Drilling) has recently set a new record for the longest one in Malaysia at 6,963m for its customer Hibiscus Oil & Gas Malaysia Limited (HML).

Can Tho’s authorities, public agencies and businesses held a working session with the Philippine group Vista Land in the Mekong Delta city on March 11.

The Trade Office of the Vietnamese Embassy in India in coordination with the Federation of Indian Chambers of Commerce and Industry (FICCI) and authorities of India’s Kerala state organised a trade exchange programme on March 9.

No other country of the same size in the world has achieved such great achievements on the Index of Economic Freedom as Vietnam since 1995, highlighted German economic and financial news website wallstreet-online.de in a recent article.

Vietnam is among the top five destinations selected by Ultra High Net Worth Individuals (UHNWI) in Singapore for their real estate investment plans, according to the Wealth Report 2023 released by Knight Frank.

Vietnam ranks 3rd among Laos’ export markets with a total value of about 65 million USD, and also ranks 3rd among countries that Laos imported from with a total value of about 21 million USD.

The southern province of Dong Nai has agreed to develop 3 more bridges linking it with neighboring Ho Chi Minh City, and proposed the alignment and scale of the bridges.

The Ho Chi Minh City Department of Transport has just requested the Ba Ria-Vung Tau provincial Department of Transport to coordinate and support the exploitation of passenger and tourist routes by waterway between the two localities.

(CPV) - PVI Insurance is the unique Vietnamese insurance company being affirmed prestigious international certification of financial rating of A- (Excellent) by global credit rating agency A.M. Best.

Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan has called on Western Australia's businesses to invest in strong fields such as food processing industry, agricultural biotechnology, and education- training in the southern hub.

Vietnamese infrastructure developer Deo Ca Group JSC has signed a joint venture agreement with Laos’ Petroleum Trading Lao (Petro Trade) Public Company to develop a railway project linking the two countries.

Vietnam exported 180,000 tonnes of coffee worth 393 million USD in February, representing a rise of 28.7% in volume and 22% in value on-year, according to figures given by the General Department of Vietnam Customs.

Given the great pressure caused by domestic and external difficulties and challenges, Prime Minister Pham Minh Chinh has underlined the need to stay steadfast in the targets of firmly maintaining macro-economic stability, controlling inflation, boosting growth, and guaranteeing major balances of the economy.

A key measure to effective public investment disbursement is to promote investment with focuses, with priority given to regional linkage projects to create new socio-economic development spaces for localities, said Minister-Chairman of the Government Office Tran Van Son at a regular Cabinet press conference on March 3.

Four Vietnamese firms - Bamboo Airways, VinFast, Vietnam Airlines, and Vietin Bank - are joining the small- and medium-sized enterprises (SME)'s day held by the German Association for Small and Medium-sized Businesses (BVMW) on March 1.

Vietnamese vegetables and fruits are eyeing various potential markets from Asia to Europe, and from the Middle East to North America and America, in which quality requirements and standards are high, prompting domestic exporters to work harder to conquer, said experts at a forum in Ho Chi Minh City on March 1.

Vietnam earned over 3.4 billion USD from agro-forestry-aquatic product exports in February, a year-on-year increase of 5.7%, the Ministry of Agriculture and Rural Development said.

Policy credit has provided loans to create jobs; contribute to eradicating hunger and reducing poverty, and improving the quality of people's lives in Hanoi.

Through the bank-business connection program, commercial banks have disbursed 568.340 trillion VND in 2022, equal to 131% of the preferential credit package registered since the beginning of the year and an increase of 16.6% compared to 2021.

The Leather Summit 2023 will be held at the famous Craft Village Cluster in Phu Yen commune and Thon That Craft Village, Minh Duc commune, Hanoi on March 1.

Deputy Minister of Industry and Trade Do Thang Hai has called on the US Department of Agriculture (USDA) to promote the approval process for irradiation facilities so as to facilitate the export of Vietnam’s fresh fruits to the US.

As of February 20, disbursed capital of FDI projects in Vietnam reached an estimated 2.55 billion USD, a year-on-year decrease of 4.9%, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

The Intelligent Community Forum (ICF) on February 24 honoured the southern province of Binh Duong as one of the Top 21 Intelligent Communities of the world (Smart 21) in 2023.

Outstanding credit balance decreased by 0.48% in January and rebounded, estimated at 0.85% in February, according to the State Bank of Vietnam’s Ho Chi Minh City branch.

(CPV) - AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of PVI Insurance Corporation (PVI Insurance).

A seminar has been hosted by the Ho Chi Minh (HCM) City People’s Committee with representatives of 18 foreign business associations in the city discussed ways to create a more attractive environment for foreign investors.

(CPV) - On February 22nd 2023, at the Indonesian Embassy in Hanoi, Ambassador Denny Abdi witnessed the signing of an MoU between the two CEOs of PT. Anantapura Yaesa Suptesu Jagarti, Mr. Ivan Chen and VTC Technology and Digital Content, Mr. Tran Phuong Huy. The signing ceremony also welcomed the presence of President of Vietnam Recreational and Electronic Sport Association, Mr. Nguyen Xuan Cuong.

The UK government has appointed TheCityUK to support Vietnam’s goal of developing Ho Chi Minh City as a regional financial and business center, according to the British Embassy in Hanoi.

The southern province of Dong Nai has planned to export 500,000 tonnes of fresh bananas to overseas markets this year.

Coconut products have great export potential and the export value of this industry is forecast to reach 1 billion USD in 2023.