BizLIVE - Vietnam and Canada have decided to establish a comprehensive partnership during Canadian Prime Minister Justin Trudeau’s official visit to Vietnam. The Republic of Korea will provide $1.5 billion in ODA for Vietnam for 2016-2020.
[Round-up] Vietnam, Canada Establish Comprehensive Partnership, RoK to Provide $1.5 Billion in ODA
Vietnamese PM Nguyen Xuan Phuc and Canadian counterpart Justin Trudeau in Hanoi on November 8. Photo: Quang Hieu/VGP
Vietnam, Canada Establish Comprehensive Partnership
Vietnam and Canada issued a joint statement on the establishment of a comprehensive partnership during Canadian Prime Minister Justin Trudeau’s official visit to Vietnam on November 8-9, the Vietnam News Agency (VNA) reported.
In the joint statement, the two countries emphasize the importance of maintaining peace and stability in the Asia-Pacific region, and supporting the maintenance of a rule-based order for the seas and oceans, including the East Sea (known as the South China Sea internationally).
RoK to Provide $1.5 Billion in ODA for Vietnam in 5 Years
The Republic of Korea (RoK) will provide $1.5 billion in official development assistance (ODA) for Vietnam for 2016-2020 via the Korea Economic Development Cooperation Fund (EDCF), according to a framework agreement between the two governments signed in Hanoi on November 8.
With ten articles, the agreement specifies lending conditions, disbursement, and Vietnam’s incentives for projects using the RoK-funded ODA. The sum will be reserved for projects chosen by the two governments.
Vietnam President Addresses APEC 2017 CEO Summit
APEC’s overarching goal is to promote people– and business-centered development, stated President Dai Quang in his keynote speech delivered at the opening session of the APEC CEO Summit 2017 in the central city of Da Nang on November 8.
Vietnam President Meets with Leaders of US Firms
Vietnam regards the US as its leading important trade and investment partner, President Tran Dai Quang said in a meeting with representatives of more than 60 US enterprises in central Da Nang city on November 8, VNA reported.
The meeting was jointly held by the US-APEC Business Coalition (USABC) and the Vietnam Chamber of Commerce and Industry (VCCI) within the framework of the ongoing APEC Economic Leaders’ Week.
PM Phuc Meets with Asia-Pacific Investors
Prime Minister Nguyen Xuan Phuc held a meeting in Hanoi on November 8 with investors in the Asia-Pacific region, including those from Japan, the US, New Zealand, Hong Kong (China), Singapore and Thailand.
The investors cared about Vietnam’s non-tariff measures, stressing that there remain a lot of procedures and shortcomings which need to be improved. They proposed the Vietnamese government develop clean energy and facilitate cooperation in tourism development as Vietnam becomes more attractive in the eyes of international friends.
APEC CEO Summit Continues Discussions on Various Issues
The APEC CEO Summit 2017 continued in Da Nang city on November 9 with discussions focusing on a number of issues closely related to Asian-Pacific businesses, according to VNA.
Discussions on the second working day will be held under the themes of “The New Jon Creators”, “Game Changer”, “Connecting for Growth”, “New Frontiers in Trade, “the Digital Age” and “Made in the World”.
AIIB Wants to help Da Nang Develop Infrastructure
The Asian Infrastructure Investment Bank (AIIB) wants to boost cooperation in infrastructure investment with Da Nang so as to help promote the development of the central city of Vietnam, AIIB President Jin Liqun told local officials on November 8.
Talking to Secretary of the municipal Party Committee Truong Quang Nghia, the AIIB leader, who was in Da Nang to attend the APEC Economic Leaders’ Week, said rapid urbanization and strong development in many aspects have required infrastructure to be expanded in Da Nang.
Vietnam’s Exports Likely to Hit $210 Billion This Year
Vietnam’s exports are likely to hit $210 billion this year, up 18.9%, the Ministry of Industry and Trade forecast.
Ten-month export revenue soared 20.7% annually to $173.7 billion, surpassing the ministry’s forecast, and raising the trade surplus to $1.23 billion.
Hanoi to License More Investments Later This Year
Hanoi plans to grant investment licenses to several large projects throughout the rest of this year, according to the municipal People’s Committee.
The projects include a $220-million solid waste treatment project in Ta Thanh Oai, a $319-million waste-to-power plant in Soc Son, and a $420-million horse racing track.
Hanoi Pledges Favorable Conditions for Japanese Investors
Hanoi’s authorities are committed to creating a favorable business climate for Japanese investors, said Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan.
The official made the statement while receiving Seiji Suzuki, President of the Japan Friendship Parliamentary Alliance in Saitama Prefecture, in Hanoi on November 7.
HCM City Works with Indian Firm in Urban Flood Control
HCM City wants to work with Kirloskar Brothers Limited from India in fields of mutual concern, especially in urban flood control and solutions to saltwater intrusion, said Vice Chairman of the Ho Chi Minh City People’s Committee Tran Vinh Tuyen.
The official made the statement on November 7 while receiving Shipra Tripathi, vice president of the Indian firm, according to VNA.
Vietnam’s coal inventories have been on the decline from 10.2 million tons at the end of 2016 to around 9 million tons at end-October, but still above the level that is required to ensure energy security, according to data of the Ministry of Industry and Trade.
Meanwhile, the country is increasingly importing coal to feed its power plans.