Australia seen becoming huge market for Vietnam exporters

CAN THO – Australia will be a huge market for Vietnamese exporters in the years to come though shipments from Vietnam to this country remain limited, said Le Thanh Tung, general director of Tien Thinh International Migration and Investment Consulting Company, at a seminar in the Mekong Delta city of Can Tho last Friday.

“Australia ranks 15th among Vietnam’s important trading partners. This is a market full of great potential in years to come, so Vietnamese companies should prop up their exports to the country,” he told the seminar on investment and trade promotion between the two countries.

He cited data of the Vietnam Trade Office in Australia, saying that Vietnam exported goods worth around US$480 million to this market in 2016, mostly farm produce. Tung said Vietnam’s agro-forestry-fisheries exports to Australia reached an estimated US$450 million a year between 2011 and 2016, a year-on-year rise of 8.3%.

However, products which posted strong growth lately included cameras and accessories (up a staggering 315.3%), iron and steel products (127.1%), material for textile, garment, leather and footwear (up 89.9%), computers, electronic products and their components (up 59.4%), and non-wood furniture products (up 47.1%).

He stressed the ASEAN-Australia-New Zealand Free Trade Agreement opens up opportunities for Vietnamese enterprises that want to make business deals with their Australian partners.

Tien Thinh International Migration and Investment Consulting Company has organized many seminars in Hanoi and HCMC, and has facilitated many companies and local governments to survey the Australian market.

He told the Daily that the company is willing to serve as a bridge between Australia’s state governments and Vietnamese companies who have achieved quality and reputation in production and business activities.

“I am optimistic about the consulting work to Vietnamese small and medium enterprises that have capability and prestige to help them become successful businesses in Australia,” he said.

Read More

Swiss firm interested in Vietnam airport projects

Switzerland’s Zurich Airport AG has shown interest in airport development projects in Vietnam, including the big-ticket Long Thanh International Airport in the southern province of Dong Nai.

The corporation has sent a delegation to Vietnam to learn about airport projects here. Speaking at a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on October 25, Lukas Brosi, chief financial officer of Zurich Airport AG, said his business trip to Vietnam this time was aimed at getting detailed information about airport projects in Vietnam, according a report on the Government news website.

Deputy PM Hue expressed appreciation of Zurich Airport AG’s intention to participate in airport projects in Vietnam, saying he would tell relevant ministries and agencies to assist the company to explore these projects here.

Vietnam is looking for domestic and foreign investors to develop airports including Long Thanh International Airport, Hue told the Zurich Airport AG mission.

In his visit to Switzerland last month, Hue met with Zurich Airport AG leadership.

The Vietnamese aviation sector has grown significantly in recent years and is expected to be among the world’s top five markets in terms of passenger traffic in 2015-2035. Therefore, Vietnam will need huge capital to build and upgrade airports, said Hue.

Besides Long Thanh International Airport, Hue introduced Van Don, Chu Lai and Lao Cai airport projects to the Zurich Airport AG delegation.

Source: The Saigon Times

Read More

Vietnam trade ministry slashes 675 business and investment conditions

The move aims at reducing business obstacles and boosting Vietnam’s business climate.

The Ministry of Industry and Trade (MoIT) on Friday has decided to cut down more than half of the total business and investment conditions, from around 1,200 terms to just 675.

“It is such a breakthrough and it's beyond my expectations,” said Prime Minister Nguyen Xuan Phuc. More than half of the business conditions were cut, meaning there will be less administrative burden placed on businesses.

The move is a part of the ministry’s ongoing institutional reform to improve business climate, Minister Tran Tuan Anh commented.

A simplified inspection process will also be applied to a wide range of goods. Only products at high risk of violating food safety regulations will fall under customs’ specialized inspection. The Ministry of Industry and Trade will work with the Ministry of Health and the Ministry of Agriculture and Rural Development to later publish a list of exempted goods.

Accordingly, customs checks will take three to fours days less to clear, which will help save an estimated VND2 million ($100) per batch of goods.

However, a lot remains to be done to improve ease of doing business in Vietnam, which according to the World Bank, lags behind Singapore, Malaysia and Thailand.

PM Phuc urged the ministry to accelerate privatization of state owned enterprises and come up with better solutions to deal with 12 long-term loss projects.

Meanwhile, businesses wish the ministry could reduce the time it takes to issue some certificates and provide better support.  

Source: e.vnexpress

Read More

Danang seeks investors for infrastructure, tourism projects

HCMC – Danang City’s government organized two conferences to lure investors for the central coast city’s infrastructure and tourism projects under the framework of the Invest Danang 2017 Forum taking place on October 14-15.

In the infrastructure sector, local authorities continued attracting investment, especially from the private sector, into key projects in the coming time.

According to city vice chairman Nguyen Ngoc Tuan, the conference aimed to introduce important projects to international and domestic investors, donors and overseas organizations. The city wished to draw attention, feedback and suggestions from potential investors to complete the projects.

Specifically, the city is seeking investors for huge projects such as Lien Chieu Port which is able to handle 100,000 DWT ships and container vessels from 6,000 to 8,000 TEUs, and Danang railway station relocation.

To secure connectivity with neighboring localities, authorities of Danang and Quang Nam Province approved in principle to develop a tramway project linking Danang with Hoi An City.

In addition, local government is preparing a solid waste treatment complex and a water environment improvement project. The two projects are expected to deal with urban and beach pollution in the central city.

Given the importance of information technology application, Danang is calling for private investors to take part in its smart traffic management project and media and information technology development project.

The conference is a forum to exchange experiences in official development assistance project implementation and public-private partnership, helping partners and investors learn about key infrastructure projects in Danang. Many international financial organizations committed to give capital support for the city’s projects.

At the tourism conference, enterprises said the city has large potential for tourism development. However, slow-moving port and yacht wharf projects have dampened waterway tourism growth.

Besides, the city is short of incentives for investors of entertainment services, especially night entertainment spots, shopping and cuisine centers, large-scale art performance programs and distinctive tourism products.

In the coming time, Danang will launch programs and plans to assist investors, speed up promotion activities, develop tourism products and call on investment for the manpower and technology sectors.

According to the tourism department, the city will concentrate on three main groups of products including sea tourism and high-class leisure, shopping and meeting-incentive-conference-exhibition (MICE) tourism, and cultural, historical and ecological tourism. There will be auxiliary products such as spiritual, culture-culinary, healthcare and sports tourism.

The city will also focus on manpower training for the tourism sector and strengthen regional connection to promote advantages of coastal central localities.

Read More