We look forward to continuing our business relationship

Electric motorbikes manufactured by Vinfast. Many UK businesses are looking into electric mobility industry in Vietnamwhich is expected to grow by double digits in the next few years. (Photo: VNA) Hanoi (VNS/VNA) - Many British investors are seeking investment opportunities in Vietnam in the hope of cashing in on free trade agreements ( FTA s) that Vietnam has signed with the UK and other economies worldwide. The UK-Vietnam Free Trade Agreement (UKVFTA), which officially took effect in May 2021, was one of the first trade deals inked by the UK after it left the European Union by the end of 2020, which reflected the importance of Vietnam in the UK’s trade policy. Bilateral trade and investment between the two economies have grown significantly with a growth rate of 17% last year. Data of the Foreign Investment Agency under the Ministry of Planning and Investment showed as of October 20, 2021, the UK had 439 valid projects amounting to nearly 4 billion USD in registered … [Read more...] about More British investors look at Vietnam to cash in on free trade agreements

The successive opening of direct flights connecting famous tourist destinations between the two countries is paving the way for travel to boom. Indian arrivals to Vietnam would increase further through the implementation of specific solutions linking the two markets. Vietnamese and Indian enterprises exchange information at the conference. Photo: nguoilaodong.com.vn Ambassador of India to Vietnam Pranay Verma shared his expectation at the Tourism Promotion Conference between India and Vietnam held by the Consulate General of India in Ho Chi Minh City on August 17. “My family is looking forward to traveling to Vietnam. Currently, many airlines have reconnected flights between cities around the world. Besides, there are many opportunities to deploy solutions to attract tourists to Vietnam and India. On the Indian side, medical tourism is also very potential but not popular to many tourists,” he added. He acknowledged that less than 200,000 Indian visitors … [Read more...] about Vietnamese travel businesses boost linkages to lure Indian tourists

Yerkin Tatishev, founder and chairman of Kusto Group During your visit to Vietnam, you identified and reconfirmed the potential of the Vietnamese market. Could you please share your investment strategy and plan for the coming years? Over the past 10 years, we have invested in different industries in Vietnam from cement to logistics and real estate. During that time, we also gained a lot of experience. The business results of the projects are different but in general, they are positive. Through this process, we have also built strong foundations for development in Vietnam such as a network of partners, friends, and a deep understanding of the local market. The Vietnamese government is stepping up investment in infrastructure such as roads, airports and many others, in which private companies are actively participating. Investment in infrastructure will create a positive growth engine for Vietnam. The nation's infrastructure system is changing very quickly and I firmly … [Read more...] about Kusto Group diversifies its business in Vietnam

Speaking at the event, Chairman of the N.A.’s Committee for Legal Affairs Hoang Thanh Tung said following feedback, the draft law now has 7 chapters and 79 articles, up 5 articles from the version submitted at the N.A.’s third meeting. It also upholds the role of every citizen in overseeing activities of officials and cadres to uncover and fight corruption and negative behaviors, optimize democracy, and increase public responsiveness in the implementation of democracy at grassroots levels, he said. Regulations on the establishment of people’s inspection committees at all grassroots levels were also mentioned in the draft law to ensure fairness in the non-State sector. Minister of Home Affairs Pham Thi Thanh Tra said units will consider opinions before adding regulations over businesses and organizations that lack trade unions but have youngsters or women’s unions to ensure their democratic rights. Units will also gather more feedback to help self-governing units perform … [Read more...] about Full-time legislators look into draft law on implementing democracy at grassroots levels

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Banks must tighten their assessment control of corporate bond investment s to avoid excessive risk and the misuse of funds raised by firms, experts said. In early April, the Banking Supervision Agency, under the State Bank of Vietnam ( SBV ) conducted an inspection of corporate bond investment activities at seven banks, while the Ministry of Finance inspected one bank. According to the SBV, by the end of 2021, there are 41 credit institutions holding 274 trillion VND (11.7 billion USD) of corporate bonds, of which more than 75% of them are held by ten major banks - Techcombank, MBBank, VP Bank , TPBank, BIDV, Vietcombank, VietinBank, HDBank, ABBank and SeABank. At some banks, the value of corporate bonds exceeds 10% of total assets. Although the inspection results were not published, a SBV senior leader said in an interview with Vietnam Investment Review that a number of credit institutions failed to accurately … [Read more...] about Banks should tighten assessment control of their corporate bonds investments: experts

Workers checking a roof top solar system (Photo: VNA) Hanoi (VNS/VNA) - As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Vietnam needs assistance from developed countries regarding both financial and technical issues . To detail the national green growth strategy, the Prime Minister on July 22 approved the national action plan on green growth for 2021-2030 with four important goals. The goals are to reduce greenhouse gas emissions per GDP, to green economic sectors, to green lifestyles and promote sustainable consumption, and to green the transition on the principles of equality, inclusion, and resilience. Speaking at the conference on the impact of COP26 on the energy transition towards green growth launched on August 17, Nguyen Thi Bich Ngoc, deputy minister of the Ministry of Planning and Investment, said that resources are the biggest problem in realising the … [Read more...] about Vietnam needs extra 368 billion USD to achieve net zero emissions