Thứ Ba, 31 tháng 10, 2017

Contracts Signed When President Obama Visits Vietnam

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.
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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.
ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:
We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

Japanese Enterprises Want to Leave China to Enter Vietnam

The labor costs in China rose steadily, along with the territorial dispute between Beijing and Tokyo are the two factors that the Japanese business community wants to move their production to Vietnam instead of China.

Mitsui OSK Lines, the largest shipping company in Japan has decided to invest 1.2 billion USD in the project to build international container port in Hai Phong. The decision is given 3 years since the Japanese businesses gradually increase investment in Southeast Asia due to the rising labor costs in China and the territorial dispute between Beijing and Tokyo causes many complex issues to incur.
The International Container Terminal Project in Hai Phong is implemented by the Tan Cang Saigon Company, partner Molnykit (Japan) and Hai Phong International Container Port, in the form of public-private partnership (PPP) and under the guidelines the Government of Vietnam and Japan.
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According to  the Financial Times, the terminal will start operation in 2018 and double the port’s current capacity to serve the needs of the growing electronics manufacturer industrial zones near Hanoi.
Currently, the situation that many Japanese companies close their factories in southern China and moved manufacturing operations to areas with cheaper labor costs in Vietnam.
Since the protests against Japan exploded in major cities of China in 2012, investing activities of Japanese companies in Southeast Asia surged. The foreign direct investment from Japan to ASEAN reached more than 20 billion USD in 2015, according to Government data, and exceeded total foreign direct investment in China, Hong Kong.
Results from an annual large-scale survey of Japan External Trade Organization showed that the proportion of Japanese companies want to expand production in China fell below 40% since 1998.
According to another report from Mizuho Research Institute, after surveying the opinions of more than 1,000 Japanese manufacturers, it is showed that Vietnam was the top destination among 12 countries participating in TPP Agreement for companies who want to increase their investment.
Vietnam is also one of the countries in which Japanese firms considered ideal to build the factory if they move production out of China’s territory.
Many reports estimate the total domestic product of the ASEAN countries will increase from the current rate of 2.6 trillion USD to 5.8 trillion USD in 2025. The rising labor costs in China are changing the conception of the Japanese business community on the role of ASEAN in the global supply chain. Vietnam is really an emerging heaven of electronic products. This fact will completely change the macroeconomic outlook of Vietnam.
In addition to the prospect to become the center of merchandise exports to Europe and the United States, Vietnam can also directly supply goods to the ASEAN markets in the context of mass population is about to reach 700 million people.
ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:
We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

Due Diligence in Choosing Business Partner

Joint ventures and association in business will bring many opportunities for the development and success, especially expanding and making entry into new Vietnam as new marketthrough cross border transaction, setting up company, acquiring shares in new company.

However, it is not easy to choose partners to help maximize the value for business, especially in this difficult time. That is the reason why we should conduct the due diligence research in Vietnam before making any decision.
According to experts, there are enterprises that growing very fast because they choose the right partners involving in the value chain, but also there are well-known enterprises in the market that have to face with a lot of difficulties due to choosing wrong partners. Therefore, how to choose the right business partners, financial partners and strategic shareholders to help enterprises overcome difficulties, develop faster and more sustainable are always issues that concerned by many business leaders.
In challenging conditions as at present, the economic situation in Vietnam and the world places great influence on the partner selection of companies. Currently, the debt crisis in some European countries caused the demand for import from these countries dropped sharply. Therefore, Vietnam enterprises must seek new markets. In this situation, companies should restructure their operations, choosing to produce products that are suitable with the new markets.
There are two key partners that companies need to keep in mind, they are financial partner and business partner. Depending on the objectives of the companies that they will choose the right partner. Normally, with the stable economic condition, companies often choose strategic partner.
However, in difficult situation such as the present, the choice of partners is made for short term so that the company could be able to change and adapt according to the general environmental condition. Many experts believe that, in difficult times, good cooperation will help enterprises to stand firm and “over storm” successfully.
Hence, conducting the due diligence research helps us to have a clearer vision of partners before deciding to cooperate with them in business, especially partners in foreign countries where you still feel strange. Whether choosing business partner or financial partner, companies should be cautious. They should learn from the Japanese companies. Before deciding to cooperate with a partner, Japanese companies often study the partners very thoroughly. Therefore, the cooperation project of Japanese companies often succeeds up to 85%.
ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:
We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

Chủ Nhật, 29 tháng 10, 2017

Binh Duong Welcomed 1 Billion USD Project

Many foreign corporations have chosen Vietnam to become their investment destination to set up business in Vietnam and the most recent project coming from a Korean investor. This is the project to produce tire and automobile airbags of Kolon Industries Corporation (Korea). This “super plant” will be located at Bau Bang Industrial Zone of Binh Duong province.
Mr Tran Thanh Liem – Chairman of Binh Duong Province has just signed a memorandum of understanding with leader of Kolon Industries Group (Korea) concerning the implementation of the plant to produce tire and automobile airbag with investment capital up to 1 billion USD. On this occasion, Becamex IDC Corporation has also announced that Kolon Industries leases from them nearly 42 hectares of land in Bau Bang Industrial Zone (Binh Duong province) to put the plant on.
According to Kolon Industries Corporation, after more than two years of searching and working with many units and localities in and outside the territory of Vietnam, the Corporation has selected the Bau Bang Industrial Park as the location to implement the project to produce tire and automobile air bag in Vietnam. The expected total investment capital of the project for all three phases is about 1 billion USD, in which the Phase 1 from 2017 to 2018 is 220 million USD, Phase 2 from 2018 to 2026 is 600 million USD and after that is the Phase 3.
Established since 1954, Kolon is one of Korea’s transnational corporations in multiple industries with high-tech products: tire, automobile air bag, film to use in electricity industry, electronics, fashion….
By the end of October 2016, Binh Duong has 2,818 investment projects from 59 countries and territories with a total capital of 25, 6 billion USD. In particular, Korea is the country ranks 3rd with 594 projects and a total investment of nearly 2.4 billion USD.
ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:
We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

Benefits of Setting Up Business in Danang

What are the benefits of establishing a business in Danang?

Da Nang is considered an ideal destination for investment. The result shall be incredible where we evaluate on the following aspects:
Da Nang – one of the strategic economic centers of Vietnam’s central region
The Vietnam prime minister has established central region’s strategic economic center, including 05 provinces and cities: Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai and Binh Dinh to promote potential, geographical location and competitive advantages and step by step develop this economic region to become one of the most dynamic economic region in the country. In particular, Da Nang is defined as the role of nuclear motivation for promoting the development of the central region and the highlands.
Da Nang – eastern gateway of east – west economic corridor (EWEC)
EWEC is one of five economic corridor developed by the initiative of the Asia development bank in the greater Mekong sub – region.
Currently, the road system in Laos, Thailand and the road line from Da Nang to Savannakhet are completed. The second international bridge spanning the Mekong river was completed in the end of  2006 to facilitate the circulation of goods and passengers by road line from Da Nang to the northeastern provinces of Thailand and vice versa. East-west economic corridor not only provide an opportunity for the country on the path of promoting regional cooperation and improve living standards for the people but also enable businesses better access to the raw materials market services, capital, labor and technology with the purpose of creating favorable conditions for investment and trade across the border and diversifying economic activity and exports and promoting tourism development
Da Nang – entrance of the cultural heritage and natural wonders of the world
Da Nang is located in the heart of the “world heritage road”, stretching from the central coast of Vinh city to Da Lat city. From Da Nang, along the national highway 1A, visitors can access quickly and conveniently four of five world heritages in Vietnam, including Phong Nha – Ke Bang national park (about 300 km from the north of Da Nang), the ancient capital of Hue (about 100km from the north), Hoi An (about 30km from the southeast) and My Son (about 70 km from the southwest).
With the advantage of geographical location and potential economic development in tourism, Da Nang is an ideal destination for tourists as well as investors.
Infrastructure is step by step improved
Da Nang is an important traffic hub of the central  – highlands and country with system of international airports, deep sea ports, roads, north-south railways  developed conveniently.
Da Nang port is the third largest commercial ports in Vietnam after Saigon port and the port of Hai Phong. With a depth of 11m wharf, warehouse systems and equipment upgraded by capital funds of the government of Japan, Da Nang port can receive ships with a capacity of 45,000 dwt and others such as container ships, passenger ships, cargo ships. Da Nang is the international shipping route enabling to go to Hong Kong, Singapore, Japan, Taiwan and Korea.
Da Nang international airport is one of the three best airports in Vietnam. In addition to domestic flights, there are weekly international flights directly from Da Nang to Singapore, Bangkok, Taipei. In the near future, the airport will open more routes to Hong Kong, Japan and Korea. Da Nang international airport is currently being upgraded and expanded to meet the needs of increasing passengers and cargo.
The system of roads in and out of the city are constantly being expanded and newly constructed
Telecommunication systems: Da Nang is one of three major telecomunication centers of the country, international transmission speed with good quality of  Southeast Asia. Da Nang post provides various and modern telecommunication services and be capable meeting the needs of customers.
The other services supporting investment (financial, banking, insurance …): most banks and finance companies of Vietnam have large branches in Da Nang. Some branches of foreign banks and international insurance companies are operating effectively in the city. These services have increasingly been improved better to meet the needs of investors.
Trained and abundant human resources
Da Nang has abundant human resources (over 50% of the population of the city), mostly young labor. Number of employees with technical expertise trained account nearly a quarter of the labor force. Labor costs in Da Nang are lower than some other cities in the country.
Da Nang is one of the provinces in the country with the high educational development index which create a favorable platform for the development of human resources of the city to perform the goal of improving the quality of human resources, quality of life. The city has about 14 universities, 15 colleges and professional schools with nearly 140,000 students. This system performs training in most areas of science, engineering, information technology, economics, business administration, language and pedagogy… Danang university also cooperates with universities of countries with an advanced education such as France, US, Japan, Australia, Canada, New Zealand …
Software technology center in Da Nang is one of the leading software producers in Vietnam and is the leading training center of the central region. Over the years, the software technology center  has cooperated closely with companies of India (aptech) and Japan (aots) to train programmers, technicians and engineers reaching the international standard. Many IT company has chosen Da Nang to set up company in da nang to hold their talents for international projects.
In addition, the city also has about 55 vocational training centers which often provide short-term training courses in computer science, sewing, mechanics, electricity – electronics, construction techniques, etc …
Quality of life
Along with the process of urbanization, economic growth in recent years has helped to material life and spirit of the people of Da Nang continuously improved.
Unlike other large cities in Vietnam, next to the bustle of urban development, living in Da Nang always bring a sense of peace, comfort and closeness to nature. Da Nang is one of the very few cities in Vietnam having a harmonious combination between high mountains, deep forests, long beach, deep river. After work, you can easily find space to relax beside the river or on beautiful beaches.
Da Nang today is a city with a healthy cultural environment, with urban civilized lifestyle, literacy levels elevated, beautiful natural scenery. It can be said that Da Nang is an exciting place to live, work, travel  and invest in Vietnam.
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