The CPTPP agreement involving 11 countries in the Asia-Pacific region will take effect next month after Australia ratified the Agreement last month on October 31 and became the 6th country to do so. Vietnam’s ratification of the agreement reflects its strong commitment to renovation and international integration and elevates its status in Southeast Asia, Asia Pacific, and in the world. CPTPP improves Vietnam’s political, economic position Amid rapid, unpredictable, and complicated security and political changes in the region and the world, the ratification of the CPTPP will improve Vietnam’s response capacity and strengthen Vietnam’s external policy of independence, self-reliance, multilateralization, and diversification and its national defense and security. The agreement will help Vietnam expand its relations with CPTPP members, especially strategic partners. Deputy Prime Minister and Foreign Minister Pham Binh Minh said, "Vietnam’s participation in … [Read more...] about CPTPP – Vietnam’s strong commitment to renovation, international integration
International procurement services
The European Commission adopted the EU-Vietnam trade and investment agreements on October 17, 2018, paving the way for their signature and conclusion. The agreements include the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement. Currently the commission is now submitting the proposals to the European Council for the signature and conclusion of both agreements. Once authorised by the council, the agreements will be signed and presented to the European Parliament for consent. Once the European Parliament has given its consent, the trade agreement can then be concluded by the council and enter into force. The investment protection agreement with Vietnam will be ratified by the member states according to their respective internal procedures. Notably, in terms of public procurement under the EVFTA, EU companies will benefit from a level of access to Vietnamese procurement markets that companies from any other country cannot. Specifically, EU … [Read more...] about EVFTA set to benefit EU investors in public procurement
Airports Corporation of Vietnam (ACV) was proposed to do the key civil aviation project components to improve Tan Son Nhat International Airport to 50 million passengers in 2022. The MoT proposed assigning ACV to carry out key tasks at the Tan Son Nhat International Airport project In the document sent to the prime minister on capital mobilisation and the schedule of developing Tan Son Nhat International Airport project, the Ministry of Transport (MoT) said that if the project called for private investment, it would take nearly two years to carry out the procurement procedures to select investors. Accordingly, it is very difficult to improve the capacity of the airport to 50 million passengers by 2022, as the airport is already overloaded. Therefore, the ministry proposed to assign ACV to develop Terminal 3 first in 2018-2020 with the annual capacity of 20 million passengers on the area handed over by the Ministry of Defence. ACV will also develop two components, which, … [Read more...] about ACV to play key role in Tan Son Nhat International Airport expansion?
InterContinental Danang Sun Peninsula Resort developed by Sun Group had a good harvest of prestigious awards at the World Travel Awards 2018 organised in Hong Kong on September 3. InterContinental Danang won five awards at this year's World Travel Awards Notably, InterContinental Danang Sun Peninsula Resort has won the following accolades: Asia’s Leading Green Resort 2018, Asia’s Leading Luxury Hotel Villa 2018, Asia’s Leading Luxury Resort 2018, Asia’s Leading Luxury Wedding Resort 2018, and Vietnam’s Leading Luxury Resort 2018. Of particular note, this year, InterContinental Danang Sun Peninsula Resort overcame the winner of the previous four consecutive years, Mission Hills Shenzhen (China) as well as seven other competitors to become Asia’s Leading Green Resort 2018. The prize showed that the organising board recognised the efforts of the investor Sun Group and the managing unit InterContinental Hotel Group to create a luxurious green … [Read more...] about InterContinental Danang takes over World Travel Awards
Over VND96 trillion of G-bonds mobilised The State Treasury of Viet Nam has raised a total of VND96.251 trillion (US$4.13 billion) via auctions of Government bonds at the Ha Noi Stock Exchange (HNX) since the beginning of the year. At an auction this week, the State Treasury mobilised VND3.95 trillion from five-year and seven-year bonds worth VND500 billion each and 10-year bonds and 15-year bonds worth VND2 trillion each. The interest rate of bonds increased slightly. Bonds with 10-year maturity raised VND1.55 trillion with an annual interest rate of 4.53 per cent, up 0.03 percentage points from the previous auction on August 1. A sub-session auction of 10-year bonds drew VND600 billion with the yearly interest rate of 4.53 percent. Those with a 15-year term attracted VND1.2 trillion with an annual interest rate of 4.81 per cent, up 0.03 percentage points in comparison with the rate of the previous auction on July 25, 2018. As much as VND600 million was mobilised … [Read more...] about BUSINESS NEWS IN BRIEF 15/8