At the Belt and Road Forum for International Cooperation in Beijing in May 2017, Mr. Xi announced that China would host CIIE as from 2018, with the aim of opening its market to the world while offering opportunities for countries to access the Chinese market. This initiative was welcomed by all participants at the forum, including Vietnam. CIIE 2018 is hosted by China's Ministry of Commerce and Shanghai municipal government, with the assistance from the World Trade Organization (WTO), the United Nations Conference on Trade and Development (UNCTAD), and the United Nations Industrial Development Organization (UNIDO). At Mong Cai International Border Gate in the Northern province of Quang Ninh. Photo: mongcai.gov.vn According to the organizing panel, the expo is expected to attract businesses from over 130 countries and territories and to receive more than 150,000 visitors. Notably, China has invited Vietnam to be one of the 12 guests of honor at the event. CIIE 2018 … [Read more...] about New cooperation opportunities between Vietnam and China, ASEAN
New market opportunities
Potential new markets for Vietnam in Mideast, Africa
(VEN) - The Middle East and Africa are promising markets for Vietnamese exports, but exporters have to adopt appropriate strategies to succeed, officials said at a recent conference in Ho Chi Minh City held by the Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency (Vietrade). Bananas are among the major Vietnamese fruit exports to the Middle East and Africa Potential region The Middle East and Africa consist of 70 countries with a total population of nearly 1.4 billion people and high demand for imported goods. Last year, the two regions imported US$1.3 trillion worth of goods, including Vietnamese products. Major Vietnamese exports to the Middle East and Africa include agricultural, forest and aquatic products, textiles, garments and materials for agricultural production. A report by the Asia-Africa Markets Department shows that in 2017, trade between Vietnam and the two regions totaled US$18.5 billion, including US$11.6 billion worth … [Read more...] about Potential new markets for Vietnam in Mideast, Africa
Dairy giant seeks new markets to offset local slump
Viet Nam’s biggest dairy firm Vinamilk is eyeing foreign markets in the hopes of offseting the declining growth in the local market. Dairy products recorded negative growth for the last three quarters: 3.3 per cent in the fourth quarter of 2017, 7 per cent in Q1 2018 and 5.3 per cent in Q2 2018, according to the Quarterly Market Pulse report on fast-moving consumer goods (FMCG) released by Nielsen Vietnam in August. Such declines have partly reflected the change in consumption trends of Vietnamese people, who have become more concerned about their health and what they consume, switching to high-nutrient and healthier beverages with more stringent quality requirements. Vinamilk and other dairy firms are struggling to reach their business targets. In its second-quarter financial statements, Vinamilk reported net revenue of VND13.7 trillion (US$588 million), up 2.6 per cent on-year, but its after-tax profit declined 8.2 per cent to VND2.68 trillion. As of the end of June, … [Read more...] about Dairy giant seeks new markets to offset local slump
Overseas investment: Vietnam exploring new markets
Vietnamese companies are starting to see the fruits of investing in other markets Cuba–a new focus for overseas investment There has been noteworthy news from the Foreign Investment Agency under the Ministry of Planning and Investment about Vietnamese companies’ overseas investments since the beginning of the year. Reportedly, Cuba has risen among the top three countries receiving Vietnamese investment. In general, in the first four months of this year, Vietnamese companies invested a total of $153.6 million overseas. This sum included $129 million in newly-registered capital and $24.64 million in added capital. When divided into individual markets, Laos takes first place with $80.12 million, taking up 52.2 per cent of the total. The runner-ups are Cambodia and Cuba, with $25.9 million and $19.9 million, respectively. The nearly $20 million poured into Cuba is not a big figure, but it shows that Vietnamese companies are ready to invest in a market halfway across the … [Read more...] about Overseas investment: Vietnam exploring new markets
Bản in : Vietnam-RoK FTA brings new opportunities: Minister
Minister of Industry and Trade Vu Huy Hoang spoke to the Vietnam Government Portal on how Vietnam can make use of the free trade agreement signed with the Republic of Korea in Hanoi on May 5. Q: Vietnam is the first FTA partner to gain market access in the RoK for agricultural products such as garlic, ginger, honey, and sweet potatoes ─ products Vietnam has a comparative advantage in producing. In your opinion, what criteria must domestic enterprises meet to export these items to the RoK? A: Exports from Vietnam will enjoy many new market opportunities because of the strong market access commitments from the RoK. The RoK liberalised 97.2 percent of import values (calculated according to 2012 figures), accounting for 95.4 percent of all tariff lines, including many of Vietnam's key agricultural commodities and seafood products such as shrimp, crab, fish, tropical fruits and industrial goods like textiles, furniture, and engineering products. Vietnam is the first FTA partner with which … [Read more...] about Bản in : Vietnam-RoK FTA brings new opportunities: Minister