20:23 (GMT +7) - Monday 10/12/2018


November 9

Released at: 14:00, 09/11/2017 PRESS WATCH

November 9

VET's round-up of news from Vietnamese media for November 9.

Mitsubishi eyes second plant

Mitsubishi Motors Vietnam is on the lookout for a location to build a second auto assembly plant worth over $100 million. Its existing plant is in the southern province of Binh Duong. Mr. Kenichi Horinouchi, General Director of Mitsubishi Motors Vietnam, held a working session on November 7 with the Mekong Delta’s Long An province and the Long Hau JSC, which operates the province’s Long Hau Industrial Park. Mr. Horinouchi said that Vietnam’s auto market has potential and the company will raise its annual production capacity ten-fold from the current 5,000 vehicles a year in the next three or five years and by 20-fold at a later date.

Exports tipped to reach $210 billion

Vietnam’s exports are likely to hit $210 billion this year, up 18.9 per cent, according to the Ministry of Industry and Trade’s forecast. Exports hit $19.4 billion in October, up 0.3 per cent month-on-month, of which $5.2 billion was contributed by the domestic economic sector, up 2.4 per cent, and the remainder from the foreign-invested sector, down 0.4 per cent. 

Handy investment going to Ha Nam

The northern province of Ha Nam has attracted 25 investment projects so far this year, raising the total number of valid investment projects to 281, according to the province’s Industrial Park Management Board. These include 14 domestic and eleven foreign investment projects, with total newly-registered capital of nearly VND1.98 trillion ($87.12 million) and additional capital of $144 million. The province aims to attract between seven and ten additional projects over the remainder of the year.

Vinh Hoan sees record-high exports

The Vinh Hoan JSC (code: VHC) has announced its export turnover hit a record $31.7 million in October, one and a half times higher than last year. In the first ten months of this year, its export turnover was $247 million, an increase of 8 per cent year-on-year. China surpassed the UK to become its second-largest export market, accounting for 9.1 per cent of the total. Its main export market remains the US, accounting for 57.5 per cent.

Vietnam at South Africa expo

Vietnam attended the 2017 Africa-ASEAN Business Expo (AABE 2017) held in Johannesburg, South Africa, from November 6-8. The Expo featured hundreds of enterprises from Southern African countries as well as seven ASEAN countries: Singapore, Malaysia, Indonesia, the Philippines, Myanmar, Thailand, and Vietnam. Speaking at the opening ceremony, Minister of Small Business Development Lindiwe Zulu said the Expo was an important event aiming to enhance trade exchange between the African Union (AU) and ASEAN.

PwC: Vietnam may be in Top 20 economies by 2050

Vietnam could be among the Top 20 economies by 2050, according to a PricewaterhouseCoopers (PwC) report on its perspective on the country. The report was released on the occasion of the APEC CEO Summit, which is taking place in the central city of Da Nang on November 8-10 as part of the APEC 2017 Economic Leaders’ Week. According to the report, in the long term, PwC forecast that Vietnam will be among the fastest-growing economies in the world as its average real GDP growth reaches 5.1 per cent per year.

French potatoes on way

France will become the first European country to export potatoes to Vietnam, when the initial batch of 3,000 tons lands in the first quarter of next year, Mr. Alexandre Bouchot, Agricultural Counselor of the French Embassy in Vietnam, said prior to the Vietnam International Food Industry Exhibition (Vietnam Foodexpo 2017) organized by the Ministry of Industry and Trade.

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