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September 14, 2020 09:32 AM
A quick review at Vietnam Weekly Feature News
1. Vietnam launches the Green Travel website to promote tourism
The Green Travel webpage, jointly launched by the Vietnam National Administration of Tourism (VNAT), the Vietnam Tourism Advisory Board (TAB) and the Swiss Sustainable Tourism Program (SSTP), will help travelers find the best sustainable tourism options in Vietnam.
2. Leaving China: Vietnam scores over India?
As India continues to atone over its inability to keep pace with China, India is increasingly missing the bus with Vietnam as well. While Vietnam started the Doi Moi reform process in 1986, after China in late 1970s, and before India in 1991, there is little doubt that Vietnam has achieved massive economic success. Today US receives more garments from China, Bangladesh and Vietnam than from India.
3. Will EVFTA open-up more opportunities for German businesses in Vietnam?
Authorities in the German city of Hamburg and German businesses in general have expressed their interest in the potential the Vietnamese market holds and their belief that the EU-Vietnam Free Trade Agreement (EVFTA) will help open up more opportunities for German companies in the country.
4. Vietnam might become largest manufacturing facility of Samsung
Samsung Electronics will close its sole Chinese TV factory in November and shift part of its operations to Vietnam while recategorising its factory in Ho Chi Minh City as an export processing enterprise.
This will turn Vietnam into Samsung’s export base to the global market and in turn benefit the local suppliers of the South Korean giant, the proposal said. Vietnam allows EPEs to enjoy zero import and export duties and other tax incentives, but a company needs to have 90 per cent of its revenue coming from exports to be able to achieve this status.
Vietnam Investment Review
5. Vietnam Airlines resumes int’l flights from September 18
National flag carrier Vietnam Airlines will resume international flights by conducting one-way flights linking Vietnam and Japan from September 18, following suspension caused by the COVID-19 pandemic.
6. Why the smart investors eyeing Vietnam’s HCMC?
For an expat, Vietnam’s Ho Chi Minh city can be a bridge between simpler times and the modern business world. This is equally captivating and frustrating, depending on one’s line of work.
7. Why Samsung keeps investment into Vietnam?
Many countries are offering Samsung better incentives than Vietnam, but the South Korean tech giant is still committed to the country, largely thanks to its constantly improving business environment and higher skilled labor forces, according to Mr. Nguyen Minh Cuong, principal country economist of the Asian Development Bank (ADB) in Vietnam.
8. American companies are moving factories out of China as Vietnam is the most mentioned destination
“When asked about top locations for moving out of mainland China, Vietnam and India are the most mentioned destinations,” according to the investment bank.
9. Vietnam expects to receive 20,000 int’l arrivals from this month
By relaunching international flights this September, the country expects the entry of 20,000 people through international airports of Noi Bai, Tan Son Nhat and Can Tho, Minister – Head of the Government Office Mai Tien Dung said at the online government meeting on Covid-19 prevention on September 11.
10. Vietnam ranked world’s second M&A attractive market: Euromonitor
Vietnam ranked second out of 50 economies in the mergers and acquisitions (M&A) Investment Index, which reflects the expected level of investment, activity and attractiveness of the global M&A market amid macroeconomic and financial shocks, according to market research firm Euromonitor.
11. Vietnam market big enough for Japanese business ambitions: PM
The Vietnam market is big enough for Japanese companies to implement ambitious investment plans and shift supply chains, says PM Nguyen Xuan Phuc.
Through Vietnam, Japanese companies can access the ASEAN bloc with a population of nearly 650 million, he said at a Monday meeting with 15 Japanese companies that plan to expand their business in Vietnam.
12. 46 pct of multinational firms in Vietnam want to expand: WB
Nearly half of multinational firms operating in Vietnam have expansion plans in the next three years, a World Bank report said.