Vietnam trade promotion agency

CP TPP will bring in huge economic benefits for Vietnam, says WB report - Illustrative image (Source: VNA) Hanoi, (VNA) – The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP TPP) will bring in huge economic benefits for Vietnam, as according to a new World Bank report released on March 9 amid the fresh signing of the agreement by Vietnam and 10 other countries. According to the report titled “Economic and Distributional Impacts of Comprehensive and Progressive Agreement for Trans-Pacific Partnership: The Case of Vietnam”, multilateral trade agreements like the CP TPP will help boost Vietnam’s investment and export driven growth model. “Even under conservative assumptions, the report estimates that CP TPP would increase Vietnam’s GDP by 1.1 percent by 2030. Assuming a modest boost to productivity, the estimated increase of GDP would amount to 3.5 percent from CP TPP,” said Ousmane Dione, World Bank Country … [Read more...] about CP TPP to yield huge economic gains for Vietnam: WB report

World Bank Country Director for Vietnam Ousmane Dione addresses the meeting in Hanoi on December 5 (Photo: VNA) Hanoi (VNA) – The Ministry of Agriculture and Rural Development (MARD) held a meeting in Hanoi on December 5 to discuss ways to sustainably develop raw material areas and improve processing capacity and market access for agro-products of Vietnam. MARD Minister Nguyen Xuan Cuong said though the agricultural sector of Vietnam has obtained major achievements, it cannot rest on its laurels due to three challenges, which are the small production scale, climate change impacts and economic integration into the world. He admitted that the country has good agricultural production capacity but the production remains ineffective due to the small scale. Besides, deep processing has just developed for only some commodities like shrimp, tra fish and milk to create products with higher added value. Most of other agricultural products have very short value chains. Vietnamese … [Read more...] about Meeting talks sustainable development of agricultural material areas

Tay Ninh (VNA) – An auxiliary border gate in the southern province of Tay Ninh, the Tan Nam on the border with Cambodia, will be upgraded into an international border gate. The upgrade is approved in Resolution 111/NQ-CP which was signed into issue by Prime Minister Nguyen Xuan Phuc on December 3. The Tan Nam border gate is located in Tan Binh communie, Tan Bien district. Its Cambodian counterpart is the Mon Chay border gate, which was upgraded to international level in 2014. The Tan Nam-Mon Chay border gates are 150km from Ho Chi Minh City and 130km from the Cambodia capital Phnom Penh. The border gate is accessible via a cement road connecting with provincial road 791. The Cambodia border gate has already been connected to routes to Phnom Penh and northern Cambodian provinces. According to the Tay Ninh People’s Committee, the upgrade of Tan Nam into an international border gate will facilitate trade and people’s travel between the two countries, thus … [Read more...] about Tay Ninh has one more international border gate

Hanoi (VNA) – The Saigon International Autotech & Accessories Show (Saigon Autotech & Accessories) will return for the 17th edition in Ho Chi Minh City from May 21 to 24 next year. The event will be organised at the Saigon Exhibition and Convention Centre by the Ministry of Industry and Trade’s Department of Industry, the Asia Trade Fair and Business Promotion JSC (ATFA) and the K-Wellness association of the Republic of Korea. ATFA representative Ninh Minh Uyen said the upcoming event will feature more than 500 booths on 15,000 sq.m. of ground. It is expected to see a rise of 15 – 20 percent in the number of foreign participating businesses and attract 15,000 visitors. The show will keep up with the common trend of the global auto industry, which has been applying artificial intelligence (AI), robotics technology and big data to every stage of the production process in recent years. It will also zone more space for supporting industries like the … [Read more...] about 17th Saigon Autotech & Accessories slated for next May

Thai Minister of Finance Uttama Savanayana (Source: Bangkok Post) Bangkok (VNA) - The Thai cabinet has approved an additional stimulus package valued at 5.8 billion baht (191 million USD) with a hope of boosting the economy to close to the country’s target of 3 percent. The package announced includes a 2 billion baht consumption promotion programme, reduction of real estate transfer fees worth 2.6 billion baht and low-interest loans from the Government Housing Bank, valued at 1.2 billion baht, said Finance Minister Uttama Savanayana. The additional package comes months after the government rolled out a 316 billion baht stimulus programme. Thailand's economy had its weakest annual growth rate in four years, expanding 2.3 percent in the second quarter, as exports have declined amid rising trade tensions and a strong baht./. VNA … [Read more...] about Thailand takes additional economic stimulus package