Thứ Ba, 31 tháng 5, 2016

VIETNAM AND EUROPEAN UNION WILL ELIMINATE OVER 99% IMPORT TARIFFS ON EACH OTHER

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At a press conference on October 30th in Vietnam informed of important agreements between Vietnam and European Union (EU), Mr. Bruno Angelet – Ambassador, Head of Delegation of the European Union (EU) said that early August 2015, the EU and Vietnam has announced the conclusion of negotiations but the negotiation group continues to resolve the remaining technical issues, while improving documents.

Once completed, the Agreement must be approved by the National Assembly of Vietnam, the Council and the European Parliament. Accordingly, Vietnam and the EU will eliminate over 99% of import tariffs.
For the few remaining tariffs, both parties will grant each other tariff quota or tariff reduction. This can be seen as the highest level of commitment that Vietnam has achieved in the FTA has been signed so far.
In the investment sector, the commitments to ensure an open business and investment environment to help promote high quality investment flows of both the EU and other partners in Vietnam. Thus, Vietnam has the opportunity to become the connection for trade and investment activities between EU and other countries in the region.
In addition, the commitments related to investment, liberalization of trade, service, Government procurement and intellectual property protection… will also open up opportunities for both sides to approach each other’s market sand ensure balance overall benefit.
EU can become the best partner in the future of Vietnam because Vietnam is also becoming one of the most dynamic countries and have good relationship with EU in the region. EU can support Vietnam in many fields such as governance models and provide excellentservices in the field of infrastructure, training and education, the judiciary and law, health, social insurance and sustainable energy.

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Chủ Nhật, 29 tháng 5, 2016

CAN THO GRANTED LICENSE FOR 5 NEW FDI PROJECTS

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In 10 months of this year, Can Tho has granted license for 5 new foreign direct investment (FDI) projects with a total investment of about 17.1 million USD.


These projects focus on sectors as manufacturing dried rice bran for export; repair and maintenance of agricultural/industrial machinery, commerce, processing industry and cinema.
Also in the past 10 months, Can Tho adjusted 38.4 million USD capital increases of 4 FDI projects, in which Lotte hypermarket project adjusted increase of 31 million USD. Currently, the accumulated until early of November 2015, Can Tho has 66 FDI projects with total registered investment capital of 954.6 million USD, implemented capital reached 346 million USD, accounting for 36% of registered investment capital.
According to the Department of Planning and Investment of Can Tho, total FDI capital into Can Tho till October 2015 was 55.7 million USD, reaching 75% of year target. These are positive signs in FDI attraction of the city.
In particular, Can Tho is reviewing and approving project to establish Pegasus international university with an investment of about 15 million USD and life-skills training school of Singapore. This will be the first international university and life-skills training school in Can Tho and the region, contributing to improve the quality of education and training for pupils and students, promoting education and training development, create high quality human resources for Can Tho and the provinces of the region.
As evaluated by the Department of Planning and Investment of Can Tho, in the near future, investment activities of Can Tho will prosper while many investors come to survey the investment environment in areas such as: resort, 5-star hotel, thermal power plant, solar power, project to produce and sell cosmetics, textile, waste treatment plant, hospital…They are big projects, using many workers will contribute to local and region economic development, creating jobs for local people, increase revenues of the city when implemented.
With the advantage of supplying raw material as seafood and agricultural products, Can Tho City is a potential land and ideal destination for investors come to build processing plants to serve domestic and international demand. In particular, the incubators with technology of Vietnam – South Korea in Tra Noc Industrial Zone promise to help develop mechanical engineering industry, agricultural and aquaculture processing in Can Tho.
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Discover a Small Paris through 5 Architectural Works of Hanoi

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Albeit being such a small city, Hanoi’s architecture is a mixture of both domestic and foreign influence. Hanoi contains in it the ancient style of feudal past, modern 21st century to Soviet-inspired monotone blocks, and that ofeternally-valuable French design.



In the process that shapes up Hanoi as of today, a number of the city’s buildings clearly show the distinctive imprint of French architecture. The influence is obvious in the organization of space, technical and construction materials and patterns of expression. The unique French architecture that adjusts for the local oriental style of living has become a characteristic of thousand-year-old Hanoi.
Of the finest French buildings in town, these five works are among the most popular that can not be missed whenvisiting Hanoi.

Hanoi Opera House
Hanoi Grand Opera House, a smaller version of the Opéra Garnier in Paris, was built on 07/06/1901 and completed in 1911. The Opera House was constructed in theater-style which draws its influence from the classical works in Renaissance Europe.
The building occupies an area of 2600 square meter, at its peak reaching 34 meters above the adjacent road and the main auditorium measures 24 by 24 meter. Hanoi Opera House is a unique work with an outstanding value of history, culture, architecture and art.
Nowadays, this is one of the most important hearts of Hanoi where regular cultural activities, art performances, concerts, etc. are often held.

Hotel Sofitel Metropole Legend Hanoi
Situated in the heart of Hanoi, sandwiched between Hoan Kiem Lake and the magnificent Opera House, the hotel was funded in 1901 by two French investors. Sofitel Metropole Hanoi bears that feeling of the colonial period with its white-painted walls, green windows, delicate iron patterns, wooden plank walls and a green lawn.
This is the very first five-star hotel in Hanoi where many ambassadors and celebrities have chosen to stay. Besides, Sofitel Metropole is the only hotel in the entire Indochina region with a unique collection of Citroen classic cars.

The President Palace
The President Palace, built in 1901 and completed in 1906, at first played a role as the palace for the Indochina’s General Governor Palace.
Like many French colonial architecture of this time, it is wholeheartedly European in design, with the only hint of a Vietnamese presence is the mango garden that surrounds the building. The palace’s ground is designed symmetrically, with a big block in the middle and two blocks on either sides. The building is covered in yellow paint and the huge green iron gate still guards its entrance.
At present, it is the office of the President of the Socialist Republic of Vietnam.

Dong Xuan Market
Constructed by a French company called Poinsard Veyret in 1980, Dong Xuan Market is one of the biggest markets in Hanoi as well as the largest market in the Old Quarter area.
The design of the market is relatively simple: its 6500 square meter area contains five blocks with domes of 52 meter length each and steel frame of 19 meter high. The front entrance owes its stunning look to French architecture, including five sculpted triangular arches arranged like a honeycomb and metal roofing.
After the liberation of the capital, Dong Xuan Market remains its full usefulness and civil architecture to Hanoians and now is one of the most important clue markets of Hanoi.

Saint Joseph Cathedral
The church was built in 1886 following the Gothic architectural style of medieval Europe which was popular in the 12th century and the Renaissance.
Saint Joseph Cathedral much resembled the Notre Dame Cathedral Paris with curved domes toward the sky. The church has a length of 64.5 meter, width of 20.5 meter and two 31.5 meter high tower with massive stone pillars at the four corners. On the top of the church lies the huge stone cross. The church also owns a collection of western-made bells including four small and one very large bell which itself costs 20,000 francs to build at that time. It also has a giant clock which the alarm system linked to the five bells hanging on the two towers.
To this day, Saint Joseph Cathedral still holds several masses throughout the day and is usually crowded on weekends and religious holidays.
French architecture in Hanoi has become a heritage which both represents historic significance and combines harmonically with the traditional architectural elements of the urban landscape. It has played an important role in conceiving the beautiful image of Hanoi and creating an unforgettable impression on those who visit the thousand-year-old Ascending Dragon.

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Thứ Sáu, 27 tháng 5, 2016

CONTRACTS SIGNED WHEN PRESIDENT OBAMA VISITS VIETNAM

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There have been series of cooperation contracts that are signed between the AmCham (American Chamber of Commerce in Vietnam) members and Vietnam businessesafter the first day that President Barack Obama visits Vietnam.

On the trip to Vietnam of President Obama, AmCham and VCCI jointly organized the corporate event in Hanoi. At the event, the signing of agreements between member companies of AmCham and Vietnamese partners are took place.
In particular, the signing of treaties on climate change and clean energy includes 7 records:
– Memorandum of GE on the development of 1000MW of wind power: Estimated that in 2025, there will be 1,000 megawatts from wind power projects. With that capacity, wind power will be enough to supply for 1.8 million households in Vietnam over the next 10 years.
– Agreement on nuclear safety training: US will help Vietnam to train the human resources, equipped with the knowledge of nuclear procurement, design and build factories, licensing and safety checks of nuclear reactors in the future. At the same time, US experts will also advise about the effectiveness of this technology as well as economic benefits when developing.
– Memorandum of Understanding between the Vietnam Oil and Gas Group and Murph Oil Company: Murphy has participated in oil and gas exploration in Vietnam since 2012 and currently is cooperating to exploit gas in Nam Con Son. This memorandum will open up many opportunities for cooperation between the two sides in oil and gas, energy joint venture, accelerating the negotiation of the project in Tho Chu Island and many other contracts.
– Cooperation agreement of the solar energy projects between First Solar and Thien Tan: Thien Tan Investment and Construction Company have signed two major contracts to purchase solar panels worth 35 million USD to serve the solar photovoltaic plant, which has started construction since mid 2015. The plant has a capacity of 19.2 MW with total investment of 800 billion VND and is built on an area of 24 ha in Quang Ngai.
– Memorandum of Biomass Minnesota Plant: Tin Thanh Electricity Company cooperates with US businesses, negotiating the terms related to design and build of boiler biomass power. That helps saving of 10 – 20% electricity, reducing 200,000 tons of carbon each year.

Along with other agreements such as joint researching on lower Mekong, Memorandum of Understanding on climate change in the Mekong Delta…
The signing ceremony of the future investment projects includes the Memorandum of Understanding that The Grand Ho Tram Strip develops its 2nd hotel tower; Memorandum of Traffic Safety Program.
Accordingly, The Grand Ho Tram Strip has signed a Memorandum of Understanding with the Cotec Construction Joint Stock Company (CotecCons) on the expansion of The Grand Ho Tram Strip worth 75 million USD.
The construction of the 2nd hotel tower with 559 rooms of The Grand Ho Tram Strip will be undertaken by CotecCons, bringing the total number of room of The Grand Ho Tram Strip to 1,100 rooms when completed.
After the completion of the hotel building, the actual total investment for the whole project has reached 1 billion USD.
In addition, in a memorandum on traffic safety program, the US will pour about 1 million USD to help Vietnam solving the challenges of traffic safety problems such as accidents, give helmets for citizens…
In the aviator industry, Vietjet Air (Vietnam) and Boeing (US) have signed contract worth 11.3 billion USD in the presence of President Tran Dai Quang and President Obama. With this contract, Vietjet Air will buy 100 Boeing 737 MAX 200 from Boeing.
Besides the contract signed with Boeing, Vietjet Air also signed contract with United Technologies Corp to buy engines for the aircrafts that Vietjet has signed and ordered with aircraft suppliers. The signed contracts worth up to 3.04 billion USD.
According to the executive director of the US Trade Association (AmCham), the visit of President Obama will further promote cooperation relations between the two countries in many fields; including economy, friendship between the two countries, security, human right, global and area issues of mutual interest.
The timing of the trip to Vietnam of President Obama has very important meaning because this is the time Parliament is preparing to consider ratification of the Trans-Pacific Partnership (TPP) at the end of this year.
AmCham believes that the TPP will bring many benefits and opportunities for companies, investors, workers, farmers and consumers in both the US and Vietnam. When fully deployed, the TPP will pave the way for the digital economy, strengthen the creative industries; contributing to a fair play ground for businesses and investors.
In addition, TPP will bring many important changes to the business environment in Vietnam and opens up many new opportunities, helping Vietnam to speed up in the industrialization, modernization and globalization process. This Agreement will help the private sector to have more opportunities to reach important markets, stimulating competition, attracting foreign investment and contributing to the construction of supply chain infrastructure; from that creates great opportunities for Vietnam enterprises, creating jobs and raise incomes for Vietnamese employees.
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