Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc suggested Sumitomo Mitsui Banking Corporation (SMBC) further expand its investment in Việt Nam during a reception in Hà Nội on Thursday for President of Sumitomo Mitsui Financial Group (SMFG) and SMBC President Koichi Miyata. As Việt Nam continues its path towards strong growth, Phúc hoped that SMBC will actively join in the country’s restructuring of its banking system. He proposed that SMFG and SMBC uphold their roles as bridges, connecting and promoting Japanese investment in Việt Nam, thereby strengthening the bilateral comprehensive partnership. The Vietnamese Government will continue to listen to feedback and remove obstacles facing Japanese investors, he said, adding that he hopes Japan will become the largest foreign investor in the country. Lauding SMBC-funded projects in Việt Nam as important and large-scale, … [Read more...] about PM calls on SMBC to expand investment in Việt Nam
Obstacles to economic development in developing countries
PM calls on SMBC to expand investment in Vietnam
Prime Minister Nguyen Xuan Phuc (R) and SMBC and SMFG President Koichi Miyata (Source: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc suggested Sumitomo Mitsui Banking Corporation (SMBC) further expand its investment in Vietnam during a reception in Hanoi on November 22 for President of Sumitomo Mitsui Financial Group (SMFG) and SMBC President Koichi Miyata. As Vietnam continues its path towards strong growth, PM Phuc hoped that SMBC will actively join in the country’s restructuring of its banking system. He proposed that SMFG and SMBC uphold their roles as bridges, connecting and promoting Japanese investment in Vietnam, thereby strengthening the bilateral comprehensive partnership. The Vietnamese Government will continue to listen to feedback and remove obstacles facing Japanese investors, he said, adding that he hopes Japan will become the largest foreign investor in the country. Lauding SMBC-funded projects in Vietnam as important and large-scale, … [Read more...] about PM calls on SMBC to expand investment in Vietnam
Germany to cooperate & support VN in development of wind energy
At the event, German Consul General to Ho Chi Minh City Mr. Andreas Siegel highlighted the potential for renewable energy including wind energy of Vietnam. The consul general affirmed the German enterprises would be willing to cooperate and support Vietnam in developing the industry. Almost speakers at the seminar said that environmental pollution was caused by impact of severe climate change and exhaust emissions from greenhouse effect which has been threatening to lives of people around the globe. Therefore, the development of renewable energy, a source of clean energy is extremely important, contributing to sustainable economic and social development. According to Mr. Berthold Breid, founder and director of Renewables Academy AG (Renac), after Fukushima Daiichi nuclear disaster occurred in Japan in 2011, the German government released policy about removing nuclear power including developing of renewable energy. Currently, Germany's renewable energy accounts for 36 … [Read more...] about Germany to cooperate & support VN in development of wind energy
Party leader stresses Vietnam-Russia economic ties in Kaluga Oblast tour
Russian Deputy Prime Minister Alexey Gordeyev (R) welcomes Party General Secretary Nguyen Phu Trong in Kaluga Oblast on September 7 (Photo: VNA) Kaluga (VNA) – General Secretary of the Communist Party of Vietnam’s Central Committee Nguyen Phu Trong continued his official visit to Russia on September 7 with a tour of Kaluga Oblast, one of the most economically developed localities in the country. At a working session with the Vietnamese leader, Russian Deputy Prime Minister Alexey Gordeyev affirmed that Vietnam is a friend and long-term partner of Kaluga. The two sides have enjoyed win-win cooperation in economy, trade, investment, social sciences, and humanities. He noted that the most positive improvement of the two countries’ relations is seen in economy and trade, with the trend continuing this year and proving that the establishment of a free trade area between the Eurasian Economic Union, of which Russia is a member, and Vietnam is a good step … [Read more...] about Party leader stresses Vietnam-Russia economic ties in Kaluga Oblast tour
ADB: Vietnam’s GDP growth will rise to 7.1% in 2018
“Aided by able macroeconomic management, economic growth will spurt in 2018, with Viet Nam becoming one of the strongest performers in the region”, said Mr. Eric Sidgwick, ADB Country Director for Viet Nam. “Viet Nam’s robust economic growth will be driven by vigorous manufacturing and export expansion, rising domestic consumption, strong investment fueled by FDI and domestic enterprises, and an improving agriculture sector,” he added.The Asian Development Outlook (ADO) 2018 forecasts inflation to reach 3.7% on average this year, up from 3.5% in 2017, before edging up to 4.0% in 2019, as domestic demand and global commodity prices rise.Photo: Khac KienMr. Sidgwick noted: “A broad based increase in the government revenue effort in 2017, helped curtail the budget deficit and reduce total public debt to 61.3% of GDP by the end of 2017, from 63.6% a year earlier. This fiscal consolidation combined with moderate inflation should provide for continued … [Read more...] about ADB: Vietnam’s GDP growth will rise to 7.1% in 2018