Vietnam targets US$200 bn garment, textile exports by 2035 With import tax cuts presented by free trade agreements (FTAs) to which, Vietnam is a member, increasing automation in production and quite favourable factors in the world market, the country’s garment and textile exports are forecast to hit US$200 billion by 2035. Vu Duc Giang, president of Vietnam Textile and Apparel Association (VITAS), says the US remains Vietnam’s largest garment importer, trailed by the EU and member countries of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Giang optimistically told the Japanese and Vietnamese media that the garment sector is likely to earn US$34.5 billion from exports this year. It is expected that after the CPTPP comes into effect in August 2018 and export taxes drop to zero, the country’s garment exports will surge by 3% compared to the estimated figure because Canada, Australia, Mexico, and New Zealand, major importers, currently import about … [Read more...] about BUSINESS IN BRIEF 16/6
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BUSINESS IN BRIEF 25/12
Industrial park properties show expansion potential The property market in industrial parks (IPs) shows great potential for development with enterprises looking for better production and business opportunities once free trade agreements come into effect. According to a VinaCapital report on the domestic property market, there was total foreign direct investment of about 7 billion USD in the industrial parks in the first ten months of this year, reported Kinh te do thi newspaper. In the near future, the housing segment for workers in the IPs will attract large foreign investments due to the high demand. Property experts said enterprises should get the opportunity to invest in the potential segment. If the Trans Pacific Partnership (TPP) agreement comes into effect, between 2.5 and 3 million people from the rural areas of Vietnam will come to cities for jobs, resulting in an increasing demand for housing in the IPs. Economic expert Nguyen Minh Phong said real estate enterprises could … [Read more...] about BUSINESS IN BRIEF 25/12
Ly Son Island to build storm rescue centre
The construction of a VND1 billion (US$51,000) rescue centre on Ly Son Island of central Quang Ngai Province is expected to begin early next year, according to Colonel Bui Phu Phu, deputy head of the Quang Ngai Border Guard. Covering an area of 5,000 sq. metres, the centre will house a 2,300-CV rescue ship that can be sent out during hurricanes. Sai Gon Tiep Thi (Sai Gon Marketing) Deal signed to build wharves at Cai Lan port Cai Lan International Container Port Co. Ltd on Saturday signed a contract with Korea-based Halla Engineering and Construction Corp to build three wharves, Nos. 2, 3 and 4. The total investment capital is estimated at US$155.3 million. It is expected that after completion in 2011, the port can receive the cargo of 4,000 tonnes. The port is expected reach 1 million TEUs (one TEU is equivalent to one 20-feet container) of handling capacity a year in 2019. Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) Viet Nam to hold cultural heritage day The theme of … [Read more...] about Ly Son Island to build storm rescue centre
Mekong Delta set for Khmer culture festival
Nine art troupes will perform at the fifth annual Culture, Sports and Tourism Festival of the Khmer ethnic people in the southern region, which is scheduled to open on December 1 in the Cuu Long (Mekong) Delta province of An Giang. The four-day event will feature a slew of activities like boat and cow racing, traditional costume performance, culinary show, and exhibitions, the Ministry of Culture, Sports and Tourism told the media on Tuesday. Sai Gon Giai Phong (Liberated Sai Gon) Paper production to meet 80% of demand Paper production will reach 5.8 million tonnes by 2020 and increase to 8.9 million tonnes by 2025, a draft Government plan envisages. Production is targeted to meet 75-80 per cent of the domestic demand by 2020-25, up from just 55-60 per cent from 2005 to 2010 when equipment and technology were backward, according to the Ministry of Industry and Trade. Tin Tuc (News) Air Mekong to fly on Vinh-Pleiku route The Mekong Aviation Joint-stock Company (Air Mekong) … [Read more...] about Mekong Delta set for Khmer culture festival
Holiday-makers find paradise close-by
Hanoi Times - The always traffic-clogged Lang-Hoa Lac expressway in the west of Ha Noi has become more crowded than ever, especially during holidays and at the weekend as day-trippers drive out single-file to explore the newly-opened BaoSonParadisePark in An Khanh Commune, Hoai Duc District The park, the biggest entertainment and tourism complex in the north, opened to the public in early September, helping to quench local people's thirst for entertainment and relaxation. The 20ha entertainment and tourism complex was built at a total cost of US$50 million by the Bao Son Investment and Construction Group. The park opens up a new world for local visitors with a blend of both traditional and modern features. It consists of four main areas: traditional craft villages of Viet Nam, the ancient quarters of Ha Noi, a culinary section and an eco-tourism area. The 5,000sq.m ancient quarter section features the daily activities of Hanoians during the early years of the 20 century. There are … [Read more...] about Holiday-makers find paradise close-by