NA Chairwoman Nguyen Thi Kim Ngan receives Deputy Speaker of the Assembly of the Union of Myanmar Aye Thar Aun Chairwoman Ngan congratulated Myanmar on its recent socio-economic achievements, voicing her belief that the country will succeed in promoting national reconciliation and harmony and improving its stature in the region and the world. She expressed her delight at the increasingly strengthened friendship and cooperation between the Vietnamese NA and the Myanmar parliament, as seen in an official visit to Vietnam by Speaker of the Assembly of the Union Mahn Win Khaing Than in May 2017 and another trip to Myanmar by a high-ranking delegation of the Vietnamese NA in September 2016. Deputy Speaker Aye Thar Aung highly valued Vietnamese people’s heroic struggle in the resistance wars to liberate the country in the past, as well as its achievements in social affairs, economy, political stability and external work at present. He said Vietnam is increasingly affirming … [Read more...] about Leaders highlight strengthened Vietnam-Myanmar parliamentary ties
Vietnamese ambassador to myanmar luan thuy duong
Hefty investments Among 70 countries and territories in which Vietnamese have investments, Laos, Cambodia and Myanmar are the three biggest target markets. Laos is the biggest FDI recipient from Vietnam, having accepted $5 billion worth of registered investments. In January 2017, Viettel received an investment license for setting up a telecom network in Myanmar – Mytel. BIDV in 2016 got a license to set up a branch in Myanmar – BIDV Yangon with charter capital of $85 million. The dairy factory Vinamilk built in Cambodia became operational in 2016, while the Vietnam Rubber Group began processing rubber latex in 2015. Hoang Anh Gia Lai Group is one of the biggest outward investors. In addition to a series of projects on agriculture production in Laos, in 2015 built the Attapeu international airport worth $36 million and HAGL Center worth $550 million in Myanmar. In 2016, it kicked off the second phase of HAGL Center and joined forces with Melia Hotel to run a … [Read more...] about How are Vietnamese businesses performing in Laos, Cambodia, Myanmar?
Illustrative image (Source: Internet) Luring the largest proportion of investment from local enterprises has been the wholesale and retail sector which has enjoyed investment of US$110.6 million, accounting for 25.6 per cent of the total figure. Following this, the science and technology sector ranked second with US$83.4 million, with the agro-forestry-aquatic sector with US$64.1 million of investment in third, followed by the real estate with US$56.9 million. Among the 30 countries and territories globally that Vietnamese financiers were active in during the reviewed period, Australia proved to be the largest recipient with US$140.6 million, accounting for 32.6 per cent of the total figure, trailed by the United States with US$59.9 million, Spain with US$59.8 million, Cambodia with US$50.6 million, and Singapore with US$35.6 million. These figures indicate that local firms have made great strides in injecting their money into new markets. Examples of this can be seen with US$4.8 … [Read more...] about Vietnamese firms invest over US$430 million abroad in nine months
Visiting heritage sites in HCM City and in Binh Duong Province, about 20km from the city, can be an interesting detour for locals and foreigners alike. The Villa, also known as Phuong Nam Villa, is a restoration heritage site built from the 1920s to 1930s located at 110-112 Vo Van Tan Street in HCM City’s District 3. The Villa was built with high-quality materials transferred directly from France to Vietnam and built by hundreds of skilled workers. Away from HCM City about 20km, in Lai Thieu Ward in Binh Duong Province’s Thuan An Town, the Phu Long Temple was built in the early 19th century with a Vietnamese-Chinese architectural style. Decorative products in the temple were made by skilled artisans of that period who were from the former imperial city of Hue. Some pictures of Phuong Nam Villa: Photos of Phu Long Temple: Thanh Van … [Read more...] about A visit to heritage sites in HCM City and Binh Duong
Two Eximbank employees are covered under umbrellas as they are escorted by police out of their office in Ho Chi Minh City as part of an investigation into a US$10.8 million fraud. Photo by VnExpress Officers from the Ministry of Public Security led Ho Thi Thuy and Nguyen Thi Thi away from the office of Eximbank in District 1 in handcuffs during the afternoon. Thuy and Thi are suspected of being involved in a million-dollar fraud committed by Le Nguyen Hung, former deputy director of the bank’s HCMC office, who has fled overseas. Police have not released an official statement. The ministry issued an international warrant for Hung a month ago after an investigation found he had forged documents to steal the money from a customer, who discovered the losses late last year. Chu Thi Binh, a seafood businesswoman, had been making major deposits at the bank since 2007. Her huge savings granted her VIP status, which meant she did not have to visit the bank every time she … [Read more...] about Vietnamese bankers nabbed in US$10.8 million fraud case