Posts

VN exports to U.S. up 27.5% Jan-Apr; VN – U.S. trade to reach $33.6 billion in 2014

VN - U.S. trade - agriculture products - cucumbersAccording to the General Department of Customs, Viet Nam exported over $8.5 billion worth of goods to the United States in the first four months of this year, up 27.5 per cent year-on-year.

During the reviewed period, textiles and garments took the lead in terms of turnover, with $2.94 billion, making up 30 per cent of total exports or increasing 18 per cent against the same period last year. Footwear was second, with $950 million (up 25.5 per cent), and furniture (wood and wooden goods) ranked third, with $677.6 million (up 26 per cent). Read more

Vietnam’s middle class set to double by 2020: BCG

Vietnam's middle and affluent class to double by 2020Dec 17, 2013. The middle and affluent class (MAC) in Viet Nam will double in size between 2014 and 2020, from 12 million to 33 million. MAC consumers, whose income is from VND15 million (US$714) or more a month, are also spreading out to other provinces and cities.

By 2020, Vietnam’s average per capita income will rise from $1,400 to $3,400 a year.

Read more

US experts advise Vietnam how to lift aviation industry to new heights

New Noi Bai TerminalThere is room for further co-operation between the US and Viet Nam in developing aviation infrastructure, safety and security, industry officials said at a conference held on Wednesday, Sep 25 in HCM City.

The conference heard representatives from US aviation companies and US government experts from the Federal Aviation Administration (FAA) sharing their expertise to facilitate the goal of aviation progress in Viet Nam.

The conference focused on best practices in airport operations, including maximising airport traffic management to increase capacity, public-private partnership opportunities in Viet Nam’s aviation sector, and aircraft certification.

According to Le Van Tang, head of the Bidding Management Department at the Ministry of Planning and Investment, demand for annual capital to develop aviation infrastructure is estimated at $8 billion. He said that two aviation projects are calling for public-private partnerships, including the $250-million Van Don Airport in northern Quang Ninh and the $5.62-billion Long Thanh Airport in southern Dong Nai. The latter would carry 100 million passengers a year.

Read more

International Integration: background for development – Politburo Resolution 22, Apr 10, 2013

Foreign Minister Pham Binh MinhThe Politburo concretized the 11th National Party Congress’ orientation by issuing its Resolution No. 22 on international integration.

The Government has assigned the Ministry of Foreign Affairs to coordinate with ministries, sectors and localities to design a Plan of Action to realize the above Resolution.  Foreign Minister Pham Binh Minh made the point in an article on the occasion of the 68th founding anniversary of the country’s diplomacy (August 28).

Viet Nam is engaging in negotiations to establish six free trade frameworks, namely Trans-Pacific Partnership (TPP), Regional Comprehensive Economic Partnership (RCEP), free trade agreements with the Republic of Korea, the European Union, the European Free Trade Association (EFTA), and Russia-Belarus-Kazakhstan Customs Union. Read more

WB Vietnam chief economist warns of rising inflation; expects 8.2% by 2013 year-end

Deepak MishraViet Nam’s Consumer Price Index (CPI) is expected to go up to 8.2 per cent by the year-end, the World Bank (WB) revealed yesterday in its economic outlook report. The figure is much higher than the Vietnamese Government’s target of 6.5-7 per cent.

Viet Nam’s inflation this year is set to be affected by the minimum wage increase from the beginning of this month. Price hikes of electricity, hospital fees, transport and education services would also make prices strongly rise, said Deepak Misha, WB’s chief economist. Read more

WTO Import Licensing Committee: Questions for Vietnam

WTO logoViet Nam’s licensing regime. The US, supported by the EU, welcomed Viet Nam’s decision to temporarily suspend some import regulations applied to “a number of goods”, but it regretted that Viet Nam had failed to provide the complete list of products, as required by the Import Licensing Agreement. It complained that six years after Viet Nam became a member, its import licensing regime remains unclear. Viet Nam said it would provide information about the products affected by import licensing and would work with members. See documents G/LIC/Q/VNM/4 (U.S. questions) and G/LIC/N/1/VNM/2 (VN Notification). Read more

Weekly Update Aug 20: How to Successfully Penetrate the US Market, Members Night

Highlights

We, Aug 22 Morning Briefing: How to Successfully Penetrate the US Market
Th, Aug 30 U.S.-ASEAN Business Summit • Digital Economy
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Dr. Le Dang Doanh: Revitalizing the Vietnamese Miracle
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Welcome to new AmCham companies • Jan ~ Aug 2012
FDI into Vietnam continues to plunge in first seven months – down 67%
Viet Nam may run out of funds for pensions
Apparel firms lower export outlook
Why I’m leaving China … for India, Vietnam, and ASEAN
“South China Sea” • U.S. Department of State Press Release
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Read more

Weekly Update Aug 13: How to Successfully Penetrate the US Market, Members Night

Highlights

We, Aug 22 Morning Briefing: How to Successfully Penetrate the US Market
Th, Aug 30 U.S.-ASEAN Business Summit • Digital Economy
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Dr. Le Dang Doanh: Revitalizing the Vietnamese Miracle
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Welcome to new AmCham companies • Jan ~ Aug 2012
ADB wants ODA disbursement accelerated
FDI in apparel production declines
FDI machine needs reworking
Viet Nam may run out of funds for pensions
Vietnam surpassed China as the leading producer of Nike footwear two years ago
Vietnam the next upcoming market: consumer spending to increase 42% by 2016
FDI into Vietnam continues its plunge during first seven months – down 67%
Industrial Parks See Falling Investment in first half of 2012: FDI down 59%
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Read more

Weekly Update Aug 6: CEO Roundtable, Legal Committee, Planning & Budgeting, Members Night

Highlights

Transforming Universities through Data Analytics and Systems to Drive Innovation
Tu, Aug 7 Morning Briefing: Vietnam CEO Roundtable Talk (By Invitation)
Tu, Aug 7 Legal & VBF Liaison Committee
We, Aug 22 Morning Briefing: How to Successfully Penetrate the US Market
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Dr. Le Dang Doanh: Revitalizing the Vietnamese Miracle
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Welcome to new AmCham companies • Jan ~ Jun 2012
ADB wants ODA disbursement accelerated
FDI in apparel production declines
FDI machine needs reworking
Viet Nam may run out of funds for pensions
Vietnam surpassed China as the leading producer of Nike footwear two years ago
Vietnam the next upcoming market: consumer spending to increase 42% by 2016
FDI into Vietnam continues its plunge during first seven months – down 67%
Industrial Parks See Falling Investment in first half of 2012: FDI down 59%
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Read more

FDI in apparel production declines

Vietnam’s textiles and apparel sector is seeing a decline in foreign direct investment (FDI) during the past several years, and the sector is being held back by its reliance on imports of raw materials, according to the Viet Nam Textile and Apparel Association.

FDI in the sector has fallen from an annual average of US$ 460 million during the peak period of 2000-08, and the number of FDI projects has also decreased during the past three years.

Total registered capital from foreign investors in the sector for 2009 and 2010 was at $185 million and $169 million respectively.

Foreign investors also focused heavily on garment making that required low investment capital. They paid less attention to the production of raw materials and accessories such as fabrics and processing such as dyeing, that required high investment capital and high technologies and no promise of a quick return on investment, said the association.

Le Quoc An, former chairman of the association, attributed the situation to the fact that Viet Nam still lacked industrial zones specialising in fibre, textile and dyeing on large enough scale to attract major overseas companies.

Viet Nam earned $ 14 billion from textile and apparel exports last year, but it had to spend up to $ 9 billion on imports of raw materials and accessories.

An said the reliance on imports was the Vietnamese clothing industry’s greatest weakness. However, he said it was also a good opportunity for the sector to organize its investment priorities and plan for solid growth in the future.

“Once the sector does this, giant foreign investors will enter Viet Nam,” An said.

Read more …