31 Aug 2012 Intellasia Finance Vietnam - Hong Kong Business ...

FINANCE
Vietnam finance & business 31 August 2012
Deputy PM pledges
best conditions for
Swiss businesses
US Trade
Representative due to
visit Vietnam
down 25.6 percent on year.
However, while FDI firms posted good export growth, local firms saw a downward
trend in export turnover. In Jan-Aug, domestic companies contributed only $27.7 billion
in the country's total export turnover, down 1.85 percent on year.
Another noteworthy point when looking at the export structure in the first months of
this year was that the products from processing and assembly made the main contribution
such as telephone and components (making up 38 percent), electronic products
and spare parts (contributing 20 percent) and garment and textile and footwear (11
percent).
According to the resolution of the National Assembly, this year's goal is to reach export
turnover growth of 13 percent on year and trade deficit will be controlled at 11-12 percent
of the country's total export turnover. However, as predicted by MoPI, the country
could reach total export turnover of $111 billion this year, rising 14.5 percent on
year. Meanwhile, the country's import spending would be about $113 billion, resulting
in a trade gap of about $2 billion for the whole year, equalling to 1.8 percent of the export
turnover, exceeding the target.
As reported by General Statistical Office (GSO), in Jan-Aug, the country's export turnover
reaped $73.35 billion, growing 17.8 percent year-on-year and the import value
was over $73.4 billion, a year-on-year increase of 6.7 percent.
31/AUG/2012 INTELLASIA | VOV
Vietnam will create the best possible conditions for Swiss businesses to operate efficiently
in the country, said deputy prime minister Nguyen Thien Nhan.
At a meeting with 43 Swiss businesses in Zurich on August 29, deputy PM Nhan said
Vietnam is always willing to perfect the country's business environment as suggested
by foreign investors.
The deputy PM said since former State President Nguyen Minh Triet's visit to Switzerland
in 2010, two-way has increased steadily despite the impact of the world economic
recession, the European debt crisis, and the appreciation of the Swiss franc.
Nhan spoke highly of the role of the Swiss-Asian Chamber of Commerce (SACC), in
arranging for businesses from both countries to meet, exchange information and seek
partners, for the mutual benefit of economic, trade, and investment cooperation.
Also at the meeting, deputy minister of Industry and Trade Nguyen Nam Hai briefed
Swiss businesses on Vietnam's economic situation, and participation in the WTO, as
well as new investment opportunities in the Southeast Asian nation.
Deputy minister Nam said Swiss businesses have 89 projects in Vietnam with a total
capitalisation of $2 billion, ranking fourth in Europe and 19th in the world in terms of
investment in the country. Last year's two-way trade between Switzerland and Vietnam
reached $3 billion.
Deputy PM Nhan and Adolf Meier, Chair of the Vietnam Committee under the SACC
expressed their belief that two-way trade turnover will grow considerably in the near
future.
Marco Martinelli, director of the TIM Investment and Management Consulting JSC in
HCM City, affirmed Vietnam's huge potential for investment and trade development.
Nhan is scheduled to meet with Chief of Federal Department of Economic Affairs Schneider
Ammann, Chief of Federal Department of Home Affairs Alain Berset, and visit
Swissmedic (a Swiss Agency for Therapeutic Products) and the Vietnamese Embassy
on August 30.
http://english.vovnews.vn/Home/Deputy-PM-pledges-best-conditions-for-Swissbusinesses/20128/141582.vov
31/AUG/2012 INTELLASIA | VOV
US Trade Representative Ron Kirk is scheduled to pay a two-day visit to Vietnam from
September 2 to discuss bilateral economic cooperation.
During the visit, the US official will meet with leaders from the Ministry of Industry
and Trade, the Ministry of Planning and Investment, as well as a number of US and
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