Wednesday, June 03, 2020 12:56:26 PM - Markets open
VN-INDEX 877.60 +2.80/+0.32%
HNX-INDEX 115.33 +1.69/+1.48%
UPCOM-INDEX 56.03 +0.05/+0.09%
Việt Nam and Nepal have great potential in trade and investment
Vietnam News - 5/12/2019 6:00:00 PM
 (0 ratings. You must sign in to rate.)
Việt Nam and Nepal have great potential in strengthening trade and investment activities in the future, Minister of Industry and Trade Trần Tuấn Anh said at the Việt Nam-Nepal Business Forum in Hà Nội yesterday.
 
The bilateral trade value reached $26.7 million in 2018, of which Việt Nam’s export value to Nepal stood at $26.4 million and its import value from Nepal at $300,000, according to the minister.
 
This is a small number compared with the great potential in trade activities between the two countries, according to the minister. Besides that, the structure of imports and exports has been complementary, not directly competitive.
 
"Việt Nam now has advantages in expanding export markets, including joining global value chains, and has created favourable conditions for the Vietnamese and Nepalese business community in developing trade and investment activities between the two countries," Tuấn Anh said.
 
In the future, Việt Nam could promote cooperation in technology transfer and third market exploitation with Nepal for many industries, such as manufacturing and processing, textile and garment, mining, agricultural and food processing and electronics.
 
Speaking at the forum, Nepalese Prime Minister Khadga Prasad Sharma Oli said he highly appreciated the friendly relationship between Việt Nam and Nepal and was impressed by the social and economic development of Việt Nam.
 
Nepal now is entering the stage of boosting economic development so the nation has great demand for cooperation in investment and trade with other countries, including Việt Nam, according to the Nepalese Prime Minister.
 
To achieve this goal,  Nepal implements open investment policies and builds a favourable and friendly legal environment for investors, including investors from Việt Nam.
 
Nepal has enhanced investment in infrastructure, including its transport system, to encourage businesses in taking opportunities in Nepal that is a favourable transit point to access the third markets like China and India.
 
Minister of Industry and Trade Trần Tuấn Anh said a protocol was expected between the two countries to promote negotiation about the framework agreement on investment and trade cooperation between Việt Nam and Nepal.
 
The agreement is expected to be an important legal foundation for improving efficiency of trade and investment cooperation between the two countries and increasing opportunities for the businesses in seeking export markets.
 
Tourism is one of the most important economic sectors of Nepal. After this visit to Việt Nam, tourism businesses of the two countries will have more opportunities in increasing tourists from Việt Nam to Nepal and vice versa. - VNS
 
Read original article here
Newer News
29/05 May CPI shows slight reduction due to dropping petrol, power, rice prices
29/05 Foreign Ministry: Vietnam recovers economy during, after COVID-19
19/05 Energy firms drive VN market
14/05 Footwear sector’s support industry should focus on developing new materials
14/05 SBV’s policy rate cut a positive sign for market, economy: experts
29/04 PM allows rice export resumption from May 1
26/04 Digital economy expected to add 30% to GDP by 2030
26/04 Digital economy to be pillar of future society
24/04 Standard Chartered lowers Việt Nam’s 2020 growth forecast to 3.3%
19/04 COVID-19 yet to affect HCM City office space market
Older News
09/05 Eastern Europe could be a lucrative market for Vietnamese exporters: forum
09/05 CPTPP – a driver of shrimp export to Canada
07/05 Vietnam’s tra fish exports to ASEAN up 18 percent
06/05 Economic growth model shift helps Dong Nai shine
04/05 Private economy - a driving force for Hanoi
03/05 Trade surplus estimated at 711 million USD in four months
02/05 Tourism stocks likely to heat up during peak season
29/04 Four-month CPI lowest in three years: GSO
27/04 US raises anti-dumping tariffs on Vietnamese tra fish
26/04 FDI reaches record level in four months
 
Newsletter Signup
Top Stories
Foreign Ministry: Vietnam recovers economy during, after COVID-19
Reference exchange rate down 5 VND on March 26
Reference exchange rate up 5 VND on March 18
Shares tumble over WHO declaration of COVID-19 pandemic
Tight co-ordination needed to ensure EVFTA benefits
Market Update
Last updated at 1:00:01 PM
VN-INDEX 877.60 +2.80/+0.32%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.