Experts believe that European Union’s Regulation on Deforestation-free Products (EUDR) compliance will not only elevate export standards but also provide an opportunity to transform Vietnam’s agriculture, making it more sustainable and transparent, and aligning it with the country’s international commitments to green growth.

This topic was the centre of discussion at a technical meeting on EUDR, held jointly by the Ministry of Agriculture and Rural Development (MARD) and the Netherlands Embassy in Vietnam.

The event was organised at a pivotal time as the EUDR will come into force in less than three months, on December 30, 2024. Vietnam’s key exports, such as coffee, rubber, and wood products, will be subject to the regulations.

Vietnam is the world’s second-largest coffee producer, and the largest in terms of Robusta coffee production.

The Netherlands, due to its geographical location, serves as a primary gateway for Vietnamese coffee into Europe. Vietnam and the Netherlands have also been strategic partners in sustainable agriculture for the past decade.

In his address at the meeting, Julius Seinen, EUDR Implementation Lead of the Dutch Ministry of Agriculture, Fisheries, Food Security and Nature, underscored the alignment of EUDR with the ministry’s international strategy, as the Netherlands focuses on transitioning towards a sustainable food system, with the Paris and Montreal agreements on climate change and biodiversity playing an important role.

“I am glad that since the publication of the EUDR, Vietnam has worked very hard to meet the new requirements set out by the EU,” said Seinen.

“Vietnam has taken a leading role in bringing together different stakeholders and actively engaging with them to address the underlying issues.”

Rui Ludovino, First Counsellor of the EU Delegation to Vietnam, said: “We have been working quite intensively with our Vietnamese partners to facilitate communication and dialogue around the EUDR.

“At the government, central, and local levels, as well as with all Vietnamese stakeholders, including business associations of commodities, the engagement has been very welcoming and positive regarding the implementation of the EUDR.”

The regulation is expected to raise concerns not only for businesses and producers but also for consumers, as high compliance costs will affect commodity prices, according to Nguyen Do Anh Tuan, Director General of the MARD’s International Cooperation Department.

“We have to work to keep prices at an acceptable level while ensuring revenue, and to give consumers peace of mind when they use Vietnamese coffee products,” he added.

Industry experts and officials at the event also discussed the measures taken for EUDR compliance, the necessary tasks to be completed before the regulation’s effective date, and addressed concerns from business representatives./.

Positive signals for exports in remaining months of 2024

Vietnam’s exports are expected to thrive in the remaining months of the year thanks to local businesses' concerted efforts and robust results during the January – September period, according to insiders.

The country was estimated to ship some 300 billion USD worth of goods abroad during January – September, rising 16% against the same time last year.

Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade, said several groups of products posting export revenue of more than 10 billion USD each included machines, equipment, tool and spare parts, telephones and components, computers, electronic products and components, textiles, wood and wooden products, vehicles and spare parts while there were 11 groups of products and 31 groups of goods with export turnover of over 5 billion USD and 1 billion USD each, respectively.

According to the Ministry of Agriculture and Rural Development (MARD), agro-forestry-aquatic product exports rose 21% to over 46 billion USD during the nine-month span, with the value of agricultural products accounting for the lion share of 24.85 billion USD, a year-on-year increase of 27.7%.

The Vietnam Fruits and Vegetables Association (VINAFRUIT) said fruit and vegetable exports reached a record high of 5.6 billion USD, surging 34% against the same time last year. The revenue is equal to the figure of the whole 2023 and is expected to grow strongly in the last quarter.

As Typhoon Yagi has left devastation for the agricultural sector, the MARD and localities are working to recover for stable production and early completion of export orders.

Deputy Director of the MARD’s Department of Forestry Trieu Van Luc said the forestry industry is making efforts to concretise and even surpass its export target of 15.2 billion USD for the whole year.

The ministry is continuing to support enterprises to improve their capacity in responding and resolving trade competition issues while organising exhibitions and trade promotion events to seek and expand markets for forestry products, he said.

Economists held that with a view to ensuring stable economic growth, localities not affected by Typhoon Yagi are accelerating production in compensation for the difficulties that the typhoon-hit provinces are encountering.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien affirmed that the sector is striving to realise the export revenue target of 54-55 billion USD assigned by the government./.

Enhancing connections critical to exploiting FTAs: seminar

Vietnam is looking into developing an ecosystem to enhance connections between Vietnamese enterprises and other countries in order to further take advantage of free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), participants heard in a seminar in Hanoi on October 2.

The seminar, organised by the European – American Market Department under the Ministry of Industry and Trade (MoIT), aimed to review the achievements of the CPTPP after five years and discuss solutions to boosting trade and collaboration with the Americas.

Deputy Minister of Industry and Trade Nguyen Hoang Long said that the CPTPP has played an important role in accelerating Vietnam’s trade with the Americas since it took effect in January 2019, especially with Canada, Mexico and Chile.

He cited the General Department of Customs’ statistics showing that Vietnam’s export and import value between Vietnamese businesses and CPTPP markets rose 56.3% over five years, from 8.7 billion USD in 2018 to 13.6 billion USD in 2023. However, this represents a unique period full of challenges like the global economic downturn and COVID-19 pandemic.

Vietnam’s exports to CPTPP markets nearly doubled over that period, from 6.3 billion USD to 11.7 billion USD. Trade surplus also nearly tripled, from 3.9 billion USD to 11.01 billion USD.

Aside from impressive trade figures, participation in the CPTPP helps speed up institutional reforms in Vietnam and improve the legal system towards transparency, which not only forces enterprises to operate more professionally but also contributes to enhancing Vietnam’s international reputation to attract more foreign investors.

The relationship between Vietnam and the Americas has also been strengthened through strategic commitments, Long noted.

However, there are limitations, such as low added value for Vietnam’s export products, inadequate attention to building brands and the limited proportion of Vietnamese goods in imports into the region, Long pointed out.

He added that he expects the seminar to provide valuable information to enterprises so that they can take better advantage of the CPTPP and move higher in the global value chain.

Shawn Steil, Canadian Ambassador to Vietnam, said that the trade deal has brought economic benefits to both sides. It is time to discuss solutions for stronger developments and inclusive trade, he said.

The CPTPP Commission meeting scheduled in November in Canada will discuss how the CPTPP can help accelerate new industries, such as the technology industry, and how enterprises, especially women-led and small- and medium-sized firms, can take advantage of the trade deal to promote the environment for inclusive and highly effective trade as well as enhance global supply chains.

Speaking at the seminar, Ngo Chung Khanh, Deputy Director of the Department of Multilateral Trade Policy under the MoIT, said that building connections between Vietnamese enterprises and other countries can expand the ecosystem to take advantage of FTAs.

This is a considered a fundamental solution to better exploit FTAs, including the CPTPP, he stressed, noting, “It’s time we enhance connections.”

The MoIT is studying the development of an ecosystem to take advantage of FTAs in which enterprises -- not only in Vietnam but also in foreign markets -- will be connected to fully exploit resources.

The Government is providing a platform, but it is up to companies to be active in taking advantage of FTAs, Khanh said, urging firms to diversify markets with special attention to markets with new-generation FTAs with Vietnam.

Khanh also pointed out that there are significant opportunities that the CPTPP brings to foster trade and collaboration with the Americas. “There is still a lot of room for trade growth. The potential between Vietnam and other countries is still great,” he said.

The UK has joined the CPTPP and many other economies are also applying to join, creating greater opportunities, he added.

There are also challenges in taking advantage of the CPTPP, including short-term competitive advantages and geographic distance.

The competitive advantage of the CPTPP gradually decreases with the FTAs under negotiation, such as ASEAN – Canada, or the fact that other countries will join the CPTPP, such as Indonesia.

He said the wide geographical distance, which increases business costs, is also a significant barrier to business decisions.

“More in-depth cooperation mechanisms need to be developed by connecting Vietnamese enterprises with American countries. Vietnamese and foreign businesses need to clearly understand the benefits and ways to take advantage of the CPTPP to pay more attention to each other’s markets,” Chung said.

Chung said that it is necessary to build a mechanism for specialised cooperation by topic between Vietnam and other countries and promote bilateral cooperation in the CPTPP by identifying topics of joint interest.

Vietnam should identify focused areas and enterprises to strengthen export orientation towards American markets, he added.

Vu Duc Giang, President of the Vietnam Textile and Apparel Association, said that the CPTPP has provided huge opportunities for the garment and textile industry to expand in the global market. The trade deal also helped reshape the industry’s development strategy.

Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Processors (VASEP), said there is still a lot of space for the seafood industry to expand thanks to the CPTPP.

But aside from quality, import markets are also increasing their criteria related to sustainability, requiring exporters to pay extra attention to enhance their competitiveness, Nam said.

More efficient trade promotion activities are critical for enterprises to better take advantage of FTAs, he added.

The CPTPP is a free trade agreement between 11 countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. The trade deal was officially signed by the member countries in March 2018 and took effect for Vietnam in January 2019.

To date, all member countries have ratified the trade deal.

The UK applied for participation in the CPTPP in February 2021 and officially signed a treaty to join the pack on July 16, 2013./.

HCMC strengthens co-operation with northern, north-central provinces

HCM City will work closely with nine northern and north-central provinces to organise activities related to trade facilitation, workforce training and tackling climate change, according to a conference on Wednesday.

The HCM City Investment and Trade Promotion Centre (ITPC) organised a conference to review the socio-economic development co-operation between HCM City and nine northern and north-central provinces in 2023-24.

The co-operation agreement between HCM City and Bắc Kạn, Cao Bằng, Hà Nam, Hà Tĩnh, Nghệ An, Quảng Bình, Quảng Trị, Thanh Hóa and Thừa Thiên – Huế was signed on March 2023. Since then, HCM City departments have worked closely with them in many areas, especially investment, commerce, tourism and health.

Many conferences, fairs, and trade facilitation events have been organised, providing promotional and networking opportunities for businesses. For example, last year, the city organised three region-level cooperation activities, according to Đào Minh Chánh, deputy director of ITPC. 

These include the HCM City International Trade Expo; an exhibition for traditional craft villages and products; and a trade facilitation event, all of which featured hundreds of businesses, including ones from northern and north-central provinces.

Meanwhile, for the first nine months of 2024, the city held a training session for provincial officials to improve their skills in investment, trade facilitation and assisting businesses; the 2024 HCM City International Trade Expo, an exhibition for high-tech agriculture and seeds, and other trade facilitation events.

Each of the nine northern and north-central provinces also has their own co-operation and investment activities with HCM City, and at the conference they commended the effectiveness of those activities, especially high value investment projects from HCM City businesses and programmes to promote One Commune One Product (OCOP) goods.

​However, there were several limitations, such as some co-operation activities have not achieved all of their expected results, and many small to medium sized businesses are not yet motivated to partake in these activities.

The devastating Typhoon Yagi has also hindered survey and trade facilitation activities in northern Việt Nam.

For 2024-25, all localities will continue to work together on a wide range of planned activities, and HCM City will act as a bridge to ensure that cooperation activities are carried out effectively.   

The provinces also made several proposals to HCM City, such as Cao Bằng Province hoped that the city would organise more events to help promote Cao Bằng goods to southern localities, and train local officials in the fields of health, tourism and start-ups.

Quảng Trị Province wants HCM City to share experiences in developing industrial parks and economic zones, as well as call investors to its industrial parks, the South East Economic Zone, and the Lao Bảo Special Economic – Commercial Area.

Meanwhile, Hà Tĩnh Province is calling for investment into prioritised areas such as the steel industry, logistics, seaports, sea tourism and organic farming, as well as developing the infrastructure of its economic zones.

Trần Thị Diệu Thúy, deputy chairwoman of the city People’s Committee, said that over the past few years, HCM City and nine northern and north-central provinces have implemented many cooperation programmes, fostering the development of many fields.   

HCM City will focus more on trade and investment facilitation events and showrooms to promote the provinces’ goods in HCM City, while also expanding supply chains of goods, and promoting the provinces’ tourism on the HCM City International Trade Expo’s website.

It will also push for co-operation on tackling climate change, digital transformation, circular economy, workforce training and other areas.

As part of the conference, localities promoted their regional specialties. 

Businesses hesitate to invest in the Mekong Delta region

The Mekong Delta region is a significant contributor to Việt Nam's agricultural exports, notably in rice, fruits, and seafood. However, investment attraction to this area remains disproportionate to its development potential.

Over the past ten years, total investment in the region has reached only about VNĐ202 trillion (US$8.6 billion), a figure considered too low for such a key economic zone.

According to a report by the Institute of Economics and Society of Cần Thơ City and the Việt Nam Chamber of Commerce and Industry (VCCI) Mekong Delta branch, total social investment capital in the Mekong Delta during 2015-2023 was the lowest in the country.

Foreign direct investment (FDI) in the region accounted for an average of only six per cent of the country's total FDI, primarily due to energy projects between 2019-2021. Notably, the agriculture, forestry and fisheries sector in the Mekong Delta has received virtually no FDI, posing challenges for industry development.

Director of VCCI Mekong Delta, Nguyễn Phương Lam, noted that although central government funds are being directed to the Mekong Delta, foreign and private investment has significantly decreased. He suggested that localities should prioritise disbursing public investment capital to support short-term development.

Over the longer term, the Mekong Delta needs to improve its business environment and enhance the effectiveness of investment projects to attract more FDI and private capital.

One of the major issues facing the Mekong Delta is an underdeveloped logistics infrastructure, which reduces its appeal to businesses. Lam emphasised that local authorities need to boost their image promotion and strengthen their branding to compete with other regions.

Deputy Director of the Department of Planning and Investment of Long An Province, Trần Văn Tươi, pointed out that geographical advantages and the planning of industrial zones have helped Long An attract more investors than other provinces in the Mekong Delta. Currently, Long An ranks third nationwide in attracting investment to industrial zones, following Bình Dương and Đồng Nai.

Tươi stressed that while investment in transportation and social and economic infrastructure is necessary, it is equally important for localities to excel in promotion, investment facilitation and business support. Factors such as improving the Provincial Competitiveness Index (PCI) and clear legal frameworks contribute to building investor confidence.  

Director of the Institute of Economics and Society of Cần Thơ City, Nguyễn Khánh Tùng, believes that the lack of investment and inefficiency are the main reasons why the Mekong Delta is developing more slowly than other regions. To change this situation, efforts should focus on improving infrastructure—especially transportation and logistics—and promoting sectors like clean energy, the digital economy and industrial zones.

The report also highlighted that investing in multimodal transportation systems and inter-regional and international connectivity infrastructure will be crucial for driving future development in the Mekong Delta.

Although the Mekong Delta has significant potential, it faces considerable challenges in attracting investment. Localities must improve infrastructure, boost their image, and enhance management quality to establish sustainable development momentum for the region.

Enhancing connections critical to exploiting FTAs: seminar

Việt Nam is looking into developing an ecosystem to enhance connections between Vietnamese enterprises and other countries in order to further take advantage of free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), participants heard in a seminar on Wednesday in Hà Nội.

The seminar, organised by the European – American Market Department under the Ministry of Industry and Trade (MoIT), aims to review the achievements of the CPTPP after five years and discuss solutions to boosting trade and collaboration with the Americas.

MoIT’s Deputy Minister Nguyễn Hoàng Long said that CPTPP has played an important role in accelerating Việt Nam’s trade with the Americas since it took effect in January 2019, especially with Canada, Mexico and Chile.

He cited General Department of Customers statistics showing that Việt Nam’s export and import value between Vietnamese businesses and CPTPP markets rose 56.3 per cent over five years, from US$8.7 billion in 2018 to $13.6 billion in 2023. However, this represents a unique period full of challenges like the global economic downturn and COVID-19 pandemic.

Việt Nam’s exports to CPTPP markets nearly doubled over that period, from $6.3 billion to $11.7 billion. Trade surplus also nearly tripled, from $3.9 billion to $11.01 billion.

Aside from impressive trade figures, participation in the CPTPP helps speed up institutional reforms in Việt Nam and improve the legal system towards transparency, which not only forces enterprises to operate more professionally but also contributes to enhancing Việt Nam’s international reputation to attract more foreign investors.

The relationship between Việt Nam and the Americas has also been strengthened through strategic commitments, Long noted.

However, there are limitations, such as low added value for Việt Nam’s export products, inadequate attention to building brands and the limited proportion of Vietnamese goods in imports into the region, Long pointed out.

He added that he expects the seminar to provide valuable information to enterprises so that they can take better advantage of the CPTPP and move higher in the global value chain.

Shawn Steil, Canadian Ambassador to Việt Nam, said that the trade deal has brought economic benefits to both sides. It is time to discuss solutions for stronger developments and inclusive trade, he said.

The CPTPP Commission meeting scheduled in November in Canada will discuss how CPTPP can help accelerate new industries, such as the technology industry, and how enterprises, especially women-led and small- and medium-sized firms, can take advantage of the trade deal to promote the environment for inclusive and highly effective trade as well as enhance global supply chains.

Speaking at the seminar, Ngô Chung Khanh, Deputy Director General of the Multilateral Trade Policy Department under the MoIT, said that building connections between Vietnamese enterprises and other countries can expand the ecosystem to take advantage of FTAs.

This is a considered a fundamental solution to better exploit FTAs, including the CPTPP, he stressed, noting, “It’s time we enhance connections.”

The MoIT is studying the development of an ecosystem to take advantage of FTAs in which enterprises -- not only in Việt Nam but also in foreign markets -- will be connected to fully exploit resources.

The Government is providing a platform, but it is up to companies to be active in taking advantage of FTAs, Khanh said, urging firms to diversify markets with special attention to markets with new-generation FTAs with Việt Nam.

Khanh also pointed out that there are significant opportunities that the CPTPP brings to foster trade and collaboration with the Americas. “There is still a lot of room for trade growth. The potential between Việt Nam and other countries is still great,” he said.

The UK has joined the CPTPP and many other economies are also applying to join, creating greater opportunities, he added.

There are also challenges in taking advantage of the CPTPP, including short-term competitive advantages and geographic distance.

The competitive advantage of the CPTPP gradually decreases with the FTAs under negotiation, such as ASEAN – Canada, or the fact that other countries will join the CPTPP, such as Indonesia.

He said the wide geographical distance, which increases business costs, is also a significant barrier to business decisions.

“More in-depth cooperation mechanisms need to be developed by connecting Vietnamese enterprises with American countries. Vietnamese and foreign businesses need to clearly understand the benefits and ways to take advantage of the CPTPP to pay more attention to each other’s markets,” Chung said.

Chung said that it is necessary to build a mechanism for specialised cooperation by topic between Việt Nam and other countries and promote bilateral cooperation in the CPTPP by identifying topics of joint interest.

Việt Nam should identify focused areas and enterprises to strengthen export orientation towards American markets, he added.

Vũ Đức Giang, President of the Vietnam Textile and Apparel Association, said that the CPTPP has provided huge opportunities for the garment and textile industry to expand in the global market. The trade deal also helped reshape the industry’s development strategy.

Nguyễn Hoài Nam, Deputy General Secretary of the Việt Nam Association of Seafood Exporters and Processors, said there is still a lot of space for the seafood industry to expand thanks to the CPTPP.

But aside from quality, import markets are also increasing their criteria related to sustainability, requiring exporters to pay extra attention to enhance their competitiveness, Nam said.

More efficient trade promotion activities are critical for enterprises to better take advantage of FTAs, he added.

The CPTPP is a free trade agreement between 11 countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Việt Nam. The trade deal was officially signed by the member countries in March 2018 and took effect for Việt Nam in January 2019.

To date, all member countries have ratified the trade deal.

The UK applied for participation in the CPTPP in February 2021 and officially signed a treaty to join the pack on July 16, 2013. 

Energy company to divest hotel to meet bond repayment obligations

BB Sunrise Power, a subsidiary of Bitexco Group, has announced its intention to divest a hotel in Lào Cai Province to fulfill its bond repayment obligations.

The Victoria Sapa Hotel, situated in the well-known tourist destination of Sapa, was previously utilised as collateral for bond issuance and is currently appraised at VNĐ210 billion (US$8.4 million).

After accounting for expenses and taxes totaling VNĐ30 billion, a net amount of VNĐ180 billion will be allocated to repay the principal and interest on the bonds.

Founded in 2019 with a charter capital of VNĐ500 billion, BB Sunrise Power is involved in various sectors of the energy industry, including hydropower, solar, and wind projects across the region.

In a related development, Bitexco Group in September transferred its entire stake in Saigon Glory, the developer of the One Central HCM project, to Eastern Hanoi Real Estate Company based in Hà Nội. The transaction also aimed to address bond repayment obligations.

The decision comes amid increasing pressure from bondholders, as Saigon Glory has encountered difficulties in meeting interest payments since late 2022, following the arrest of Trương Mỹ Lan, the chairwoman of Vạn Thịnh Phát Group.

Bitexco has committed to ensuring interest payments on ten bond lots from September 2024 through June 2025, while Eastern Hanoi will take on the responsibility for both principal and interest payments until maturity.

Việt Nam’s corporate bond market is facing significant challenges due to a sluggish real estate sector, exacerbated by an intensified government anti-corruption campaign initiated in 2022.

According to FiinRatings, bond issuers, particularly within the real estate sector, are expected to encounter substantial repayment pressures in 2024 and 2025, as overdue bonds from 2022-2023 have been extended for up to two years under a government decree issued in 2023.

Meanwhile, VIS Ratings have estimated that VNĐ216 trillion of corporate bonds are set to mature next year, with 9 per cent categorised as being at high risk of default.

Experts have cautioned that extending maturity dates involves risks and requires cooperation from bondholders and creditors.

Negotiations can be complex, needing a thorough assessment of a company’s financial health, they said.

Concerns about how these extensions affect market perception and creditworthiness may hinder future funding, they added.

Companies are advised to use the extension wisely by implementing cost-cutting measures and diversifying revenue while maintaining communication with bondholders.

S&P Global Ratings have reported that the real estate sector has the largest outstanding bond value at nearly VNĐ400 trillion, about 34 per cent of total bonds.

Without improvement, more defaults may occur, it cautioned. 

Market reverses with a decline as foreign investors continue net buying

The stock market reversed course and ended lower on Wednesday, with liquidity also dropping, while foreign investors continued their net buying trend.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed at 1,287.84 points, down 4.36 points, or 0.34 per cent.

Market breadth on the southern bourse was negative, with 228 stocks declining, 85 advancing and 52 remaining unchanged. Liquidity fell to VNĐ17.7 trillion (US$718.4 million), marking a 19 per cent decrease compared to the previous session.

The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, edged down by 4.37 points to 1,354.5 points. Within the VN30 basket, 19 stocks fell, ten gained and one remained unchanged.

The market's downturn was led by large-cap stocks in the financial sector, with the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG) posting the steepest decline in market capitalisation, falling by 1.37 per cent and contributing nearly 0.58 points to the VN-Index's overall decrease.

It was followed by Vietnam Prosperity Joint Stock Commercial Bank (VPB), which declined by 1.01 per cent, Fortune Vietnam Joint Stock Commercial Bank (LPB), which dropped by 0.8 per cent, and HCM City Development Joint Stock Commercial Bank (HDB), which decreased by 1.61 per cent.

However, the market's losses were mitigated by gains in certain pillar stocks, led by the Vietnam Technological and Commercial Joint Stock Bank (TCB), which rose by 1.01 per cent, contributing nearly 0.8 points to the VN-Index.

Experts from Viet Dragon Securities noted: “Liquidity declined compared to the previous session but remained at a high level, indicating that supply continues to exert significant pressure as the market approaches resistance levels. Given the current cautious candle signals, market movements may temporarily slow down and possibly undergo a correction in the upcoming session to test the supportive cash flow around the 1,285-point region.

"Therefore, investors should take a slower approach, observing the supply-demand dynamics to reassess the market's condition. For now, it is advisable to consider this rebound as an opportunity to adjust portfolios towards risk mitigation."

On the Hà Nội Stock Exchange (HNX), the HNX-Index also declined by 0.42 per cent, closing at 235.05 points.

During the session, shares worth more than VNĐ1.1 trillion were traded, with a total trading volume of over 57 million shares on the northern bourse.

Foreign investors extended their buying spree, with net purchases amounting to over VNĐ254 billion on the HoSE. 

Hanoi hosts international precision engineering and manufacturing expo

The latest technologies, products, and solutions in precision engineering and manufacturing industry have been put on display at the 10th International Precision Engineering and Manufacturing Reinvented Exhibition (MTA Hanoi 2024) which opened on October 2 in Hanoi.

MTA Hanoi 2024 gathers over 90 exhibitors from 13 countries and territories, including Germany, the Republic of Korea, Israel, Japan, Switzerland, China, and Vietnam.

As a leading trade event in the precision engineering and manufacturing industry, the function focuses on metal forming and sheet metal cutting machinery, metal cutting machine tools, measurement and testing technology, cutting and machining tools, automation, and control technologies.

Within the framework of the expo, a special corner with the theme of “Vietnam Industrial Robotics and Automation Event” will be organised. The event offers opportunities for participants to express their creativity whilst sharing their experience on robot programming knowledge in order to nurture the next generation of automation engineers.

The international precision engineering, manufacturing expo jointly organised by Informa, the Vietnam Automation Association (VAA), and Vietnam Association of Mechanical Industries (VAMI) serves as an ideal platform in which businesses can seek strategic partnerships and expand networks. This year's exhibition promises to showcase cutting-edge technologies and advanced machinery, thereby catering to the diverse needs of this sector.

It made its debut last year and was well received by industry professionals.

The expo is taking place at International Center for Exhibition (I.C.E) at 91 Tran Hung Dao street in Hanoi and will run until October 4.

More than 200 brands join in expo on machine tools and metalworking solutions

The 17th Vietnam International Exhibition on Machine Tools & Metalworking Solutions for Production Upgrade (METALEX Vietnam 2024) opened on October 2 in Ho Chi Minh City.

Running with the theme of "From Lines to Cycle – Building a Carbon Neutral Manufacturing Legacy",  the event attracted over 200 brands from 20 countries and territories globally, including China, the Republic of Korea, Japan, Singapore, Germany, Italy, and India.

Exhibitors at the event are primarily focused on the automotive, aerospace, electronics, and metalworking industries, showcasing advanced automation solutions, production control systems, and cutting-edge machinery.

Vu Trong Tai, general director of RX Tradex Vietnam, highlighted METALEX Vietnam as being one of Southeast Asia's leading annual exhibitions in this regard. The organizers stated their hope that this year’s edition will not only sharpen the overall competitiveness of the supporting industry, but also contribute to promoting sustainable development and the circular economy.

The three-day event features a series of specialized seminars on the latest trends, such as sustainable manufacturing, the future and challenges of the metalworking industry, as well as human resources development solutions, particularly as the sector is transitioning to a circular economy.

Matsumoto Nobuyuki, chief representative of the Japan External Trade Organization (JETRO) in Ho Chi Minh City - a co-organiser of the supporting industry show SIS 2024 within the ongoing METALEX Vietnam, stated that the event facilitates connections between Japanese and Vietnamese firms, as well as exchanges of technology transfer and sustainable production solutions.

Vo Van Hoan, vice chairman of the municipal People's Committee, hailed METALEX Vietnam 2024 as being a prestigious platform for local and international enterprises to seek partnerships, improve production capabilities, and deepen integration into the global supply chain.

How to enhance economic and trade links with American partners under discussion

Stepping up economic and trade co-operation with American partners through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was discussed at a seminar hosted on October 2 by the Department of European - American Markets under the Ministry of Industry and Trade in Hanoi.

The seminar aims to evaluate the results after five years of implementing the CPTPP, thereby exchanging and seeking practical solutions in order to help businesses to effectively utilize the Agreement and enhancing economic and trade connections with partners throughout the Americas.

In his opening speech, Deputy Minister of Industry and Trade Nguyen Hoang Long stated that economic and trade relations between the nation and the Americas have been growing steadily over recent years.

After five years since coming into effect in January, 2019, the CPTPP has played an important role in promoting Vietnamese trade with markets in the Americas, especially member markets, including Canada, Mexico, Chile, and Peru, with these markets having FTA relations with Vietnam for the first time.

According to statistics released by the General Department of Customs, total import and export turnover to CPTPP markets in the Americas soared by 56.3%, from US$8.7 billion in 2018 to US$13.6 billion in 2023, although this is a period with many challenges, such as a global economic recession and the COVID-19 pandemic.

Of which, Vietnamese exports to these markets nearly doubled, climbing from US$6.3 billion in 2018 to US$11.7 billion in 2023. The trade surplus in these markets also nearly tripled, rising from US$3.9 billion to US$11.01 billion, with this making positive contributions to Vietnamese macroeconomic stability over recent times.

This result has contributed significantly to Vietnamese trade with the Americas region in general, with total import-export turnover in 2023 reaching US$137.7 billion, of which Vietnamese exports fetched US$114.5 billion.

Along with the impressive figures mentioned above, joining the CPTPP has encouraged the country to reform its institutions and improve its legal system towards greater transparency. This not only helps firms to operate more professionally, but also contributes to enhancing the country’s international reputation to attract more foreign investors. The relationship between the country and the Americas has been and continues to be strengthened through strategic commitments.

As part of his address, Ambassador of Canada to Vietnam Shawn Steil said that the agreement has brought benefits to both people and both nations’ businesses, opening up greater investment co-operation opportunities for the two nations.

CPTPP represents a lever to increase trade turnover between both sides. The workshop can be seen as an opportunity to look back on five years and outline new directions for collaboration efforts.

The Americas is a large market and closely linked together through interwoven free trade blocs, such as the US – Mexico – Canada Agreement (USMCA), the Pacific Alliance (PA), and the Southern Common Market (MERCOSUR).

Taking advantage of the CPTPP, along with the favourable gateway locations of the member countries in the region, namely Canada, Mexico, Chile, and Peru. Enterprises can consider exporting and investing in production in these countries in a bid to expand and diversify export markets to this vibrant and potential market area.

At the seminar, experts and speakers shared a lot of useful information, as well as discussed and sought solutions in which to help the Vietnamese and American business communities build effective business plans.

Through the seminar, businesses can grasp market information, seek new and effective logistics solutions, and increase the ability to take advantage of tariff incentives in the CPTPP.

In addition, they can strengthen connections for businesses to participate deeply in the global supply chain, especially of CPTPP member countries.

Moreover, participants also directly shared and presented very useful information from import-export enterprises from Mexico (Coppel Group) and Chile (Sodimac Group) on the advantages of co-operation with CPTPP member partners; business co-operation plans with Vietnam in the context of the Indo-Pacific Strategy; as well as plans to expand business ties with the Asia-Pacific region in general and Vietnam in particular.

Hanoi to host international Giftshow 2024

Hanoi Giftshow 2024 is scheduled to take place from October 10 to October 13, treating visitors to an array of local handicrafts whilst offering fine art exhibitors numerous opportunities for business matchmaking and further market expansion.

Organised by the capital’s Department of Industry and Trade, the 13th edition of the fair will get underway at the National Exhibition Center for Architecture, Planning, and Construction at No. 01 Do Duc Duc street in Nam Tu Liem district of Hanoi.

Featuring numerous local and foreign companies showcasing a range of products across 450 pavilions, the event is expected to attract more than 10,000 visitors both in person and online during its four-day run. 

The function will also showcase a wide range of products such as handicrafts, wooden furniture, bamboo and rattan items, ceramics, glassware, textiles, fibers, lace embroidery, basketry, and farm produce, among others.

Hanoi’s Department of Industry and Trade will hold tours specifically for foreign businesses to tour around craft villages situated across the capital whilst guiding them to join e-commerce platforms in order to promote trade between local and international firms.

Moreover, local authorities will award prizes to the winners of a handicraft product design contest in a bid to enhance creativity whilst promoting the quintessence of Hanoi's handicrafts and fine arts.

Expo on machine tools, metalworking solutions attracts over 200 brands

The 17th Vietnam International Exhibition on Machine Tools & Metalworking Solutions for Production Upgrade (METALEX Vietnam 2024) kicked off on October 2 in Ho Chi Minh City.

Under the theme "From Lines to Cycle – Building a Carbon Neutral Manufacturing Legacy", it brings together over 200 brands from 20 countries and territories, including China, the Republic of Korea, Japan, Singapore, Germany, Italy, and India. Exhibitors primarily target the automotive, aerospace, electronics, and metalworking industries, showcasing advanced automation solutions, production control systems, and cutting-edge machinery.

According to Vu Trong Tai, General Director of RX Tradex Vietnam, METALEX Vietnam is one of Southeast Asia's leading annual exhibitions in the field. The organisers hope that this year’s edition will not only enhance the competitiveness of the supporting industry but also contribute to promoting sustainable development and the circular economy.

Lasting to October 4, it also features a series of specialised seminars focused on the latest trends, such as sustainable manufacturing, the future and challenges of the metalworking industry, and human resources development solutions as the sector is transitioning to a circular economy.

Matsumoto Nobuyuki, Chief Representative of the Japan External Trade Organization (JETRO) in HCM City, a co-organiser of the supporting industry show SIS 2024 within the ongoing METALEX Vietnam, highlighted that the event facilitates connections between Japanese and Vietnamese firms as well as their exchanges of technology transfer and sustainable production solutions.

Vo Van Hoan, Vice Chairman of the municipal People's Committee, praised METALEX Vietnam 2024 as a prestigious platform for local and international enterprises to seek partnerships, improve production capabilities, and deepen integration into the global supply chain./.

HCM City hosts Vietnam Interior & Build Expo

The Vietnam Interior and Build Expo (VIBE 2024) kicked off in Ho Chi Minh City on October 2.

As the first event of this kind, it is organised by the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) in collaboration with the Saigon Association of Construction & Building Materials (SACA).

Head of the organisating board Nguyen Quoc Khanh said the expo is held in anticipation of the wave of recovery and growth, bringing business opportunities and closely connecting the supply chain of the furniture and construction industry.

VIBE 2024 offers a venue for exhibitors to spread values and connect with business partners; provide information and trends; expand connectivity within the ecosystem of furniture and construction sector; and promote domestic business opportunities and export orientation, he stressed.

According to Khanh, VIBE 2024 features 500 pavilions from 150 leading exhibitors operating in the fields of interior decoration, construction and technology such as Nippon, Takara Standard, and Vicostone.

Organisers also approached more than 7,000 architects and interior designers from architectural offices, studios and associations.

VIBE 2024 applies the business to business to consumer (B2B2C) exhibition platform, in which businesses, through the community of architects, interior designers, contractors, and professionals, directly provide services and products to end consumers. It is expected to become the most comprehensive exhibition platform, gathering important links in the construction and interior supply chain.

Bui Quang Hung, Deputy Director of the Trade Promotion Agency under the Ministry of Industry and Trade, said in the context of a volatile and challenging world market, VIBE 2024 promptly meets market demands and orients businesses towards exploiting the domestic market in parallel with foreign ones./.

Vietnamese, Japanese businesses promote technology supply-demand connection

Enterprises from the port city of Hai Phong and Japan’s Kitakyushu city on October 2 took part in a technology supply-demand connection session held by the Hai Phong Department of Science and Technology and several Japanese units.

The event is an activity to celebrate the 10th anniversary of the establishment of friendship and cooperation between the twin cities of Hai Phong and Kitakyushu. It also aimed to support Vietnamese enterprises to access technology, improve competitiveness, deeply join in the global production and supply chain, and have the opportunity to become outsourcing units, ventures of Japanese partners.

Speaking at the event, Ono Hirokaru, Chairman of the Kitakyushu Trade Association, said that the sssociation promotes international trade in Kitakyushu city and neighbouring areas through regularly organising seminars, training, and communication activities on international trade. This technology supply-demand connection session is an important activity that benefits both sides.

At the event, Japanese enterprises introduced to Vietnamese enterprises typical technology products focusing on the fields of circular recycling and green energy; automation and new materials, processing and preservation technology. On October 3, Japanese enterprises will directly visit Vietnamese enterprises headquartered in Hai Phong to provide consultation and support.

Japanese enterprises are ranked third in the number of investment projects in Hai Phong, second in investment capital. As of the end of the first quarter of 2024, there were 144 projects of Japanese investors in Hai Phong, with a total capital of nearly 7.1 billion USD./

Brescia province's business community interested in Vietnamese market

Vietnamese Ambassador to Italy Duong Hai Hung on October 1 attended a business forum on Southeast Asian markets held in the city of Brescia in Northern Italy, at the invitation of President of the Federation of Employers (Confindustria) of Brescia province Franco Gusalli Beretta.

Hung was the only guest at the forum as Vietnam is Italy’s leading trading partner in the Association of Southeast Asian Nations (ASEAN). Prominent businesses of Brescia province in industrial fields such as iron and steel production, machinery and engine manufacturing, and industrial products like rubber, components, consumer goods, food and beverages attended the forum which aimed to support Italian businesses to seize opportunities in Southeast Asian markets, particularly Vietnam.

Speaking at the event, Hung informed participants about Vietnam's outstanding economic development achievements after nearly 40 years of Doi Moi (renewal) process, its economic development orientations, and favourable policies for businesses and foreign investors.

He affirmed that the Vietnam - Italy Strategic Partnership is developing strongly with new vitality, recently highlighted by the opening of offices in Vietnam by SACE and SIMEST - two leading Italian institutions to support businesses and a direct flight between Italy and Vietnam from next year, which will open a new phase of cooperation between the two countries.

Confindustria President Brescia Beretta highly appreciated Hung’s attendance at the forum, saying that Vietnam is a very attractive market with great potential for Brescia enterprises in the context of Brescia's annual trade exchange with ASEAN countries reaching nearly 313 million Euros (345 million USD) and the province currently has 20 investment projects in ASEAN.

On the sidelines of the forum, major enterprises of Brescia province were interested in discussing and learning about Vietnam's possibility to provide industrial rubber sources. They said they are also planning to visit Vietnam to learn more about the market soon.

During his working visit to Brescia arranged by member of the Chamber of Deputies Giangiacomo Calovini, who is also head of Brothers of Italy and a member of the chamber’s Foreign Affairs Committee, Hung had meetings with Prefect of Brescia province Andrea Polichetti and Mayor of Brescia City Laura Castelletti.

On this occasion, he invited businesses of Brescia province to attend the Vietnam - Italy Coffee Day that is schemed to take place on October 9, and the Vietnam - Italy decentralised partnership and cooperation conference on October 17.

He also visited Brescia University, worked with its Board of Directors and met with Vietnamese students and postgraduates studying there. The university has had many cooperation projects with Vietnam./.

Source: VNA/VNN/VNS/VOV