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About Vietnam

The Vietnamese economy, valued at US$ 200 billion, grew by a robust 6.1% in 2016, making it one of the fastest growing markets in the world. Vietnam has a large population of 95 million, with a median age of 29 years. 70% of the population is of working age and 33% live in urban areas.

The government has sought to open up the country to trade and investment – which are the key drivers of the economy. Vietnam received an estimated US$ 15.8 billion in actual FDI in 2016, up 9% from 2015. It is seeing more manufacturing and technology-based investment projects in recent years, and has gained worldwide fame as a go-to place for export manufacturing.

Population: 95.26 million
Inflation Rate: 2.8%
Currency: Vietnamese Dong (VND)
Ave Exchange Rate: VND 22,347: US$ 1
Imports: US$ 161 billion
Exports: US$ 169.2 billion
GDP: US$ 200.5 billion
GDP per capita (PPP): US$ 6,400
Real GDP Growth: 6.1%
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INDUSTRY REPORTS

Over the years, Vietnam has made considerable efforts to ensure access to quality healthcare services for the entire population by upgrading its hospitals, expanding insurance coverage and increasing expenditure in healthcare, which have positively driven the country’s medical industry. ...

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This report is designed to provide an overview of the smart cities sector in Vietnam. The country is currently experiencing rapid urbanization and a shift from an agriculture economy to industry and services-driven economy. It is one of the fastest growing economies in South East Asia, and has...

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Vietnam Country Profile

The report offers a wide range of data and information collected from various sources that were built together in order to provide not just facts but deeper insights about the country. Unlike other country reports that focus more on macro-economic data, we think that the most valuable part of ...

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Vietnam is still in the developmental phase of fortifying and improving its water and wastewater systems. Strong growth potential is foreseen in the wastewater and solid waste treatment sub-sectors. Given that industrial zones, or industrial parks all over the country are gradually booming to ...

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Farming paddy asian

ECONOMIC NEWS

81 Projects In Kien Giang Province Open For Investment

Vietnam  -  September 2018

Eighty one projects in Kien Giang province, Mekong Delta are opening for investment until 2020. Of the 81 projects, 15 will be in industrial production; 13 in hi-tech agricultural and aquatic cultivation and processes; 11 in commerce; 10 in technical infrastructure in industrial parks; nine in transport; seven in tourism; six in the environment; six in water supply in urban and rural areas; and four in housing and urban development. Many of them are now operating and providing jobs for local residents. 

According to the provincial Department of Planning and Investment, more than USD 1.34 billion of investment capital has been registerd by Japan, Russia, Australia, Korea and Malaysia focusing on transport, tourism, services, petroleum transport and sport shoe production. These projects are among the total 48 foreign direct investment (FDI) projects with total registerd investment cpaital of USD 2.7 billion. 

The province ha been focusing on transport infrastructure, electricity grids and water drainage systems and also improving local administration, and setting preferential policies and assistance for the investors. 

(Source: Vietnamnews)

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Artificial intelligence robotics

ICT

Vingroup To Diversify Into AI, Big Data and Other Technological Services

Vietnam  -  September 2018

Vingroup, Vietnam’s biggest private-sector organization which is mainly involved in real estate, has recenly announced its plan to expand into artificial intelligence, software and big data and set up a Silicon Valley-style tech hub in Hanoi. Vingroup signed an agreement with the country’s top 50 universities to provide funding for these universities' science & technology projects and co-operate with them on training and educating programmers. In addition, Vingroup has committed to employing 100,000 technology students within the next 10 years. Included in the plan is the setting up of a fund to support research projects for domestic students and lecturers to pursue science and technology application.

Vingroup will also enhance the production of automobiles and smart home-appliance products through the establishment of its software development company VinTech, which has split from another sub-unit VinSmart. VinTech will specialise in developing artificial intelligence (AI) products, software programmes and new-generation materials. Vingroup’s newest business has set up two research institutions – the Big Data Research Institute and Vin Hi-Tech Research Institute.

A tech hub in Hanoi called VinTech City will also be developed following the US tech cluster Silicon Valley. VinTech City aims to create a business ecology that is similar to the Silicon Valley to serve information-technology startup companies. 

Moreover, a technology investment fund will be founded to seek opportunities in technology and AI projects that are applicable on a global scale.

These activities are parts of the group’s plan to become an international-standard technology-industry-service conglomerate by 2028, with a focus on technology development and application.

(Sources: Vietnam Insider; Viet Nam News; Business Insider; Vingroup.net)

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ENERGY

Vietnamese Increasing Feed-In-Tariffs For Wind Energy Projects

Vietnam  -  September 2018

A draft decision to increase feed-in tariffs (FITs) for wind power has been approved by the Vietnam government. Accordingly, FITs price for wind power projects will be increased from the current USD 7.8 cents/kWh to USD 8.5 cents/kWh applicable to onshore wind power projects, and USD 9.8 cents/kWh applicable to offshore wind power projects.

For new power plants that come into operation before November 2018, the new FiTs will be applicable for the remaining term of the project’s power purchase agreement (PPA). 

The new FiTs are expected to boost interest from investors by enhancing feasibility and practicalityof wind power projects. For the country, wind power contributes more to national energy security, supports the country’s constant economic development and the mitigation of climate change in a more efficient manner. 

(Sources: Renewablesnow; Evwind)

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MEDICAL

Portal For National Pharmacy Network Officially Launched In Vietnam

Vietnam  -  September 2018

A portal for pharmacies throughout Vietnam was officially launched on August 24, as an attempt to ensure the quality of drugs sold on the market and keep prices in check. With this platform, users can easily look up the use, price and origins of available drugs, as well as receive updated warnings from health authorities about medicines of questionable quality. 

This was done under a government initiative to strengthen management of prescriptions and sale of prescription drugs between 2017 and 2020. The government is preparing to enforce all drug stores to connect to a common network. Those who deliberately fail to follow this regulation might even have their license voided. Around 72% percent of all drug stores in the country have internet access, but only 48% are managing sales through software platforms. 

The piloting project has started with selected provinces – namely Phu Tho, Hung Yen, Vinh Phuc and Nam Dinh. Out of nearly 62,000 pharmacies in Vietnam, around 4,200 are current participating in the portal. 

This aims to adddress issues such as high antibiotic resistance in the country due to sale and purchase of medicines without prescriptions and middlemen in the drug supply chain inflating prices and making it difficult to trace product origins. 

(Source: Vietnamnet)

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Waste to energy

ENVIRONMENT

HCMC Calls For Investment In Waste To Power Project

Vietnam  -  September 2018

The Department of Natural Resources and Environment of Ho Chi Minh city is seeking approval from People’s Committee to call for domestic and foreign investors for a waste-burning power project. According to the proposal, the investor must commit to buy all new equipment and machinery and report serial numbers, product specifications and production life of all equipment to the city’s department. Another criteria is investors' commitment to training human resources to operate the projects.

The authority will prioritise investors who have experience in operating electricity generation projects with automation systems meeting the G7 standard, and classification systems for recycling waste before burning. In returns to the investment, investor will receive rental exemption for 11 years or a 70 per cent discount, import tax exemptions, and facilities support. Furthermore, the investors will earn US$21 for each 1,000 tonnes of garbages treated. 

HCMC collects 8,700 to 9,300 tonnes of solid waste per day, most of which ended up in the landfills of the city. 

(Source: Vietnam News)

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Road building

INFRASTRUCTURE

Development Work To Commence On North-South Link  

Vietnam  -  September 2018

An expressway from the North of Vietnam to the South will start the construction next year and is schedule to finish by 2021, according to the Ministry of Transport. The new expressway, which will create more room for vehicles will have a total length of 654 kilometres and run through 13 provinces and citites. There will be 11 sub-projects, 03 of which are managed by the goverment and the rest are implemented in public-private-partnership (PPP) model. The total investment is projected to reach VND 118.7 trillion (USD 5.1. billion).  

Vietnam's Ministry of Transport is conducting technological design for the three sub-projects with state investment, and construction work on them is expected to start in April next year. Furthermore, selection of contractors for public parts and investors is already in the processind. Ground clearance will finish by October 2020, according to the plan.

(Source: Vietnam News)

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Chemical production

MANUFACTURING

Chemicals Manufacturer To Open New Facility In Vietnam

Vietnam  -  September 2018

Global chemicals manufacturer, Huntsman Corporation, has announced a plan for a new multi-purpose facility near Ho Chi Minh City, Vietnam. The site, located at the Amata Vietnam Industrial Park, is a greenfield investment, and it will host Huntsman's Polyurethanes and Advanced Materials businesses, including manufacturing; research and development capabilities. The compound will also have a technical service center; warehouse and distribution space and a commercial office.

President of Huntsman's Advanced Materials business added: "This is the first manufacturing expansion investment outside China for our business in Asia Pacific and we see many opportunities in Vietnam to support large-scale infrastructure and construction projects in one of the fastest growing economies in the region.The new plant is said to give the capability to efficiently supply customers across the ASEAN region with high quality electrical insulation, coatings and adhesive solutions.

In addition to this facility, Huntsman has a distribution warehouse located in the inland container depot at Long Binh - Dong Nai Province, and a site in Hanoi which offers technical service and comprises warehouse and distribution space and a commercial office.

(Source: e.vnexpress.net)

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Military ships

DEFENSE / AEROSPACE / AVIATION

France and Vietnam Sign Joint Vision Statement On Defence Cooperation

Vietnam  -  September 2018

France and Vietnam signed a joint vision statement on 18 September 2018, on defence cooperation for 2018 to 2028, and an agreement on amending the Vietnam-France co-operation agreement signed in 2009, with the aim of deepening the defence bond between the two countries. 

Through the statement, the two countries are to promote common concerns, thus reinforcing and stepping up mutual trust and moving towards expanding co-operation, maintaining security and stability in the region and the world; ensuring compliance of international law, freedom of travel on land, sea and air routes; and coping with non-traditional security threats, with the impact caused by climate change and environmental degradation for security taken into account. To implement the above, the two sides will maintain regular visits and meetings at all levels; increase high-level exchanges and diversify mechanisms for bilateral consultations on international and regional security issues of mutual concern.

The two countries will intensify co-operation and mutual support at multilateral organisations and forums and foster the bilateral and multilateral partnership to contribute to promoting peace and security in both regions. They also agreed to support each other in capacity building and share experience in peacekeeping operations and strengthen collaboration in the fields of defence industry, military medicine and hydrography.

Lastly, the two sides will focus on enhancing co-operation in maritime security and safety, as well as non-traditional security issues; and exchanging experience and seeking new opportunities to co-operate in environmental security.

(Sources: Viet Nam News; Nhan Dan Online)



 

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Convenience store mart shop

RETAIL / FMCG

Thai Retail Giant To Spend USD 500 Million In Vietnam

Vietnam  -  September 2018

Central Group, Thailand's largest retail conglomerate headquartered has unveiled plans to spend as much as USD 500 million to expand its retail network in Vietnam over the next five years. The investment will directed towards tripling the number of its stores and shopping malls to as many as 750. The company is also adding  new retail formats to capture growing consumer demand for non-food items. Their LookKool gift shop has already expanded to 27 stores since its launch late 2017. They are experimenting to check the viability of other brands such as cosmetics shop Hello Beauty and DIY store Home Mart. 

Central Group is the largest foreign retailer in Vietnam. The group currently has 250 outlets in Vietnam with a floor space of 700,000 square feet. This includes 31 Big C shopping malls; 35 Big C hypermarkets; 25 Lanchi Mart outlets; 50 fashion stores under the Robins, DELALA, Supersports, and Marks & Spencer brands; 56 Nguyen Kim electronics stores; more than 40 stores of the new retail concepts such as LookKool, C-express, B2S, Hello Beauty; and three online platforms, NguyenKim.vn, Robins.vn and B2S.com.vn.

Since its establishment in July 2011, it has made several investments, including acquiring a stake in electronics retailer Nguyen Kim and the acquisition of Big C supermarket chain. 

(Source: Nikkei Asian Review; The Nation)

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Customized Agent/ Distributor/Reseller Search

Having completed over 1000 customized agent/distributor/reseller searches for our clients over the years, this is one of the most popular trade services that we offer to potential clients. Typic...

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Sourcing Services

There is a growing interest in sourcing for products from South East Asia for strategic and competitive reasons. Companies from around the world are looking for suppliers in Malaysia, Thailand, ...

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Business Incorporation/ Site Selection

We counsel businesses on where to locate their office and industrial operations and what the optimal business structure should be to meet local government and tax requirements. Some of the quest...

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Market Research

To successfully export your products or services, you need to learn about your customers, your competitors and your industry. Our market research process starts off with brainstorming effective ...

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Trade Show Support

Many companies participate in trade shows hoping to find customers or local agents or distributors. However, they come away from these events with less than desired results. But with our trade s...

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Additional Services

Based on past experience in helping companies that are looking to grow their exports to one or more markets in South East Asia, we have found that some of these additional services that we offer...

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Trade Mission Organization

Visiting a market to meet with prospective customers or partners is essential as business is built on developing personal connections and understanding the local culture. Traveling ...

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Trade Show Support

Trade shows can be an excellent option for companies and trade organizations to make key business and industry connections overseas. But to maximize the benefit of participating in ...

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Trade Representation

With over 20 years of experience providing dedicated representation in South East Asia to economic development organizations (EDOs) from North America and Europe, we offer EDOs the ...

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Our strong track record in performing a targeted analysis of specific industry sectors in multiple markets has helped many economic development organizations (EDOs) to develop strat...

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Attracting investment from overseas can mean new or retained jobs in your area. Our investment attraction support services will position your economic development organization (EDO)...

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ClaroNav Kolahi Inc.

Canada
Medical
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
NaviEnt is a simple, accurate and affordable Ear Nose Thr...
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Ramsoft Inc

Canada
Medical
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
Customizable and flexible radiology software solutions, P...
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Theralase® Technologies Inc

Canada
Medical; Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
The therapeutic laser is used to eliminate pain, reduce i...
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NewDVR (S) Pte Ltd

Singapore
Building Products - Residential & Commercial; Infocomm Technologies (ICT); Safety & Security
Malaysia, Philippines, Thailand, Vietnam, Indonesia
Our products include Alarm Systems, Visitor Management Sy...
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Pacer Pumps

USA
Agriculture & Livestock; Industrial Equipment & Parts; Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
Thermoplastic centrifugal pumps for these sectors - Agric...
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Solace Corporation

Canada
Infocomm Technologies (ICT)
Indonesia, Malaysia, Philippines, Thailand, Vietnam
Message Router Appliances - Purpose-built hardware for me...
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