Vietnam pushes economic ties with Luxemburg
Vietnam defines Luxemburg as an important partner in economics, trade
and investment under the Vietnam-Luxemburg Oriented Cooperation Strategy
in the 2011-2015 period, according to the Foreign Investment Agency
under the Ministry of Planning and Investment.
Vietnam defines Luxemburg as an important partner in economics, trade
and investment under the Vietnam-Luxemburg Oriented Cooperation Strategy
in the 2011-2015 period, according to the Foreign Investment Agency
under the Ministry of Planning and Investment.
The strategy is built on three main pillars of Luxemburg’s advantages, including state-of-the-art technology, capital potential, and excellence and experience in management. For Vietnam , luring more foreign capital flows from industrialised countries like Luxemburg is considered key to accelerating industrialisation.
The European nation currently stands 19 th out of 101 countries and territories with investment in Vietnam . Its investment interest is in mobile information, construction, foodstuff and light industry . However, Luxemburg’s companies have yet to explore investment opportunities outside of Hanoi .
According to the General Department of Vietnam Customs, bilateral trade between the two countries in 2012 reached 32 million USD. Of which, Vietnam exported goods to Luxemburg worth 29 million USD (up seven percent from the year before).
To facilitate investment flows from Luxemburg, domestic businesses suggested Vietnam perfect its investment environment, legal documents, foreign investment policies, open more areas to foreign investment and investment forms, and remove barriers in terms of planning.
In addition, domestic firms are encouraged to step up investment promotion activities in Luxemburg to help their counterparts get up-to-date information on Vietnam ’s advantages and opportunities.
On the other hand, the Foreign Investment Agency should encourage Luxemburg firms to invest in the realms of finance-banking and the building of economic and monetary policies.-VNA
The strategy is built on three main pillars of Luxemburg’s advantages, including state-of-the-art technology, capital potential, and excellence and experience in management. For Vietnam , luring more foreign capital flows from industrialised countries like Luxemburg is considered key to accelerating industrialisation.
The European nation currently stands 19 th out of 101 countries and territories with investment in Vietnam . Its investment interest is in mobile information, construction, foodstuff and light industry . However, Luxemburg’s companies have yet to explore investment opportunities outside of Hanoi .
According to the General Department of Vietnam Customs, bilateral trade between the two countries in 2012 reached 32 million USD. Of which, Vietnam exported goods to Luxemburg worth 29 million USD (up seven percent from the year before).
To facilitate investment flows from Luxemburg, domestic businesses suggested Vietnam perfect its investment environment, legal documents, foreign investment policies, open more areas to foreign investment and investment forms, and remove barriers in terms of planning.
In addition, domestic firms are encouraged to step up investment promotion activities in Luxemburg to help their counterparts get up-to-date information on Vietnam ’s advantages and opportunities.
On the other hand, the Foreign Investment Agency should encourage Luxemburg firms to invest in the realms of finance-banking and the building of economic and monetary policies.-VNA
You should also see
Prime Minister pays tribute to legendary founders of Vietnam
Prime Minister Pham Minh Chinh and other officials offered incense in commemoration of the Hung Kings, the legendary founders of Vietnam, at Kinh Thien Palace on Nghia Linh Mountain in Viet Tri city, the northern province of Phu Tho, on April 18 (the 10th day of the third lunar month).
See more
Business
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
Videos
Agro-forestry-fisheries products nearly double in Q1
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at over 13.5 billion USD, up nearly 22% over the same period last year, according to the Ministry of Agriculture and Rural Development.
