Economic highlights – May 31-June 5

08-Jun-2016 Intellasia | VGP | 6:00 AM Print This Post

Japan financing JPY 166.124 billion for three projects, Vietnam leading Asean nations in trade with Canada and Vietnam’s consumer confidence index reaching record high are business highlights from May 31- June 5.

Japan provides JPY 166.124 billion for three projects

The Vietnamese government and the Japan International Cooperation Agency (Jica) have inked credit agreements worth JPY 166.124 billion for railway, power and water projects in Vietnam.

These projects include HCM City Urban Railway Project Line 1 Ben Thanh – Suoi Tien, Thai Binh Power Plant and Transmission Lines Construction Project and HCM City Water Environment Improvement Project.

VN leads Asean nations in trade with Canada

Vietnam-Canada trade turnover in the first quarter of 2016 reached $928.97 million, a year-on-year increase of 11.8 percent, according to the Statistics Canada.

Vietnam’s imports from Canada attained $92.9 million, down 38.7 percent while its exports to the country hit $836.1 million, up 23 percent. Vietnam, thus, enjoyed a trade surplus of $743.2 million.

The exports of machines, equipment and electronics ranked first with $273 million, up 123 percent, followed by footwear with $103 million (up 33.5 percent), textiles with $81 million, garments with $76 million (up 7.3 percent), timber with $60 million and printing machines with $49 million.

German businesses to increase investment in VN

Vietnam’s investment environment and business opportunities are the factors that made many German businesses think of expanding their operation and recruiting more workers in the next 12 months.

More than half of the German enterprises participating in this survey are very optimistic when asked about the prospects for Vietnam’s economic development. 47 percent of companies are confident in the growth of this economy in the next coming years. 70 percent of them are very satisfied with the business results. 58 percent of them are positive about the growth of revenues in the coming year.

54 percent of participants confirm that they will increase investment and 58 percent of them have recruitment plan in 2017.

VN’s consumer confidence index reaches record high

Vietnam’s Consumer Confidence Index (CCI) was 91 points in the second quarter of this year, six points higher than the same period last year and the highest level over the last 20 years, according to a Vietnam Taylor NelsonSofres Company survey.

The survey found that 96 percent of respondents hoped for stable and improved living standards, of whom 49 percent expected for better lives in the next 12 months.

EVFTA – boost for bilateral trade and investment

The EU-Vietnam free trade agreement (EVFTA) will create a boost for trade and investment between the two sides, affirmed deputy minister of Industry and Trade Tran Quoc Khanh at a seminar on EVFTA opportunities for businesses in Hanoi on May 31.

According to Khanh, two-way trade increased from $ 6.3 billion in 2003 to $ 41.2 billion in 2015, making the EU one of the leading trade partners of Vietnam.

Statistics from the ministry showed that Vietnam’s exports to the EU in 2015 were valued at $31 billion, while its import value was over $10 billion.

Northern localities shake hand to boost tourism

Tourism representatives from 16 northern provinces and cities signed a memorandum of understanding (MoU) to boost regional tourism promotion.

The signing ceremony was held on May 31 in Quang Ninh Province as part of a conference on Northern tourism promotion centers.

HCM City, Champasak foster in-depth ties

Leaders of HCM City and Laos’ Champasak province have agreed to further bolster their win-win partnership in various fields, especially economy.

The agreement was made during talks on May 31 between Secretary of the HCM City Party Committee Dinh La Thang and Secretary of the Party Committee and Governor of Laos’ Champasak province Bounthong Divixay, during the former’s ongoing visit to the province.

Dong Nai: FDI in five months accounts for 88 percent of year’s plan

The southern province of Dong Nai attracted $883 million in the Foreign Direct Investment (FDI) in the first five months of 2016, nearly reaching the target set for the year of attracting $1 billion in FDI.

As of May 31, 50 projects were licensed with a total registered capital of $332 million while 38 projects were added with $550 million.

Until now, as many as 1,600 projects, worth $29 billion, were launched in the province, including 1,200 operating, valued at $24 billion.


Category: Economy, Vietnam

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