The National Assembly approved the Resolution on ratifying CPTPP Agreement and related documents on November 12th, 2018. Accordingly, the Agreement will come into force for Vietnam from January 14th, 2019.

On March 8th, 2018, Vietnam and other 10 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Singapore officially signed the Comprehensive and Progressive Agreement for Trans – Pacific Partnership (CPTPP) in San Diego, Chile.

CPTPP aims to liberalise trade and investment in 11 member countries

By December 30th, 2018, the CPTPP Agreement was officially in force for the first six countries completing the procedure for ratifying the Agreement including Mexico, Japan, Singapore, New Zealand, Canada and Australia.

For Vietnam, the National Assembly passed the Resolution on ratification of the CPTPP Agreement and related documents on November 12th, 2018. Accordingly, the Agreement will come into force for Vietnam from 14th January, 2019.

With comprehensive commitments, high standards and balances, the CPTPP Agreement will help strengthen the mutually beneficial link between member economies and boost trade, investment and economic growth in Asia – Pacific region.

The CPTPP Agreement consists of 7 Articles and 1 Annex that regulates the relationship within the Trans-Pacific Partnership Agreement (TPP) which was signed by 12 countries including Australia, Brunei, Canada, Chile, the United States, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam on February 6th, 2016 in New Zealand as well as deals with other issues related to validity, withdrawal or accession to the CPTPP Agreement.

Basically, the CPTPP Agreement keeps the contents of the TPP Agreement (including 30 chapters and 9 appendices) but allow member countries to postpone 20 groups of obligations to ensure the balance of rights and obligations of members in the context of the US withdrawal from the TPP Agreement.

These 20 groups of suspension obligations include 11 obligations related to the Intellectual Property Chapter, 2 obligations relating to the Government Procurement Chapter and the remaining 7 obligations related to 7 chapters of Customs Management and Trade, Investment, Trade in cross-border services Facilitation, Financial Services, Telecommunications, Environment, Transparency and Anti-Corruption. However, all commitments on market openness in the TPP Agreement remain in the CPTPP Agreement.

According to experts, opportunities and challenges from CPTPP depend greatly on Vietnam’s ability to grasp opportunities and overcome challenges.

Previously, speaking at the National Assembly about this Agreement, Deputy Prime Minister Pham Binh Minh said that participating in CPTPP in general was beneficial for Vietnam.

According to official research results of Ministry of Planning and Investment conducted in September 2017, CPTPP could help Vietnam’s GDP and exports increase by 1.32% and 4.04% respectively by 2035. The total import turnover may also increase by 3.8%, lower than the rate of export growth, so overall impact on the trade balance is favorable.

In addition, having FTA relations with other CPTPP countries will help Vietnam restructure export and import markets in a more balanced way, thereby helping Vietnam to improve the autonomy of the economy.

In addition, it will help Vietnam have the opportunity to participate in the supply chain formed after the CPTPP takes effect and is an important condition to improve the level of economic development, from which Vietnam can participate in production stages with higher added value.

The Government also recognized that such participation is an opportunity for Vietnam to continue to upgrade the institution of economic law including a socialist-oriented market economy institution, to support the process of growth model innovation and economic growth restructuring.

At the same time, it will help Vietnam to have more opportunities to improve its business environment in a more open, transparent and easily predictable way to approach advanced international standards, thereby promoting both domestic and foreign investment.

Socially, participating in CPTPP will create more jobs, increase income and contribute to poverty reduction.

It is known that the countries participating in CPTPP have a total GDP of 10.2 trillion USD, accounting for more than 13% of the global GDP. The total population is 495 million, accounting for 6.8% of the world population.

Source: VnEconomy

On September 1st, 2018, Hai Phong – Ha Long Expressway officially opened. Then, on December 30th, 2018, three other projects were inaugurated at the same time: Van Don International Airport, Ha Long – Van Don Highway and Ha Long International Passenger Port. Thanks to increasingly convenient traffic, Quang Ninh province and Dong Mai Industrial Park (Quang Ninh) are expected to become potential investment destinations in the Northern market.

Hai Phong – Ha Long – Van Don expressway plays a vital role in fully making Hanoi – Hai Phong – Quang Ninh economic triangle connection possible, helping to increase the flow of goods transported from Quang Ninh to other provinces in the North and vice versa.

Directly connecting with Hai Phong – Ha Long – Van Don expressway, Dong Mai Industrial Park (Quang Yen, Quang Ninh) is only 12km from the highway. After completion, the new road has shortened the distance from Hanoi to the Industrial Park from 160km down to 107km, the time for traveling reducing from 3 hours to 1.5 hours.

QL. 18 intersection is 12 km from Industrial Park connecting Dong Mai Industrial Park with Hanoi – Hai Phong highway.

At the same time, the distance from the Industrial Park to Hai Phong port is also reduced by two thirds (from 75km to 27km) and takes 15 minutes, making the exchange of goods from Quang Ninh province in general and Dong Mai Industrial Park in particular to the other countries via sea become more convenient. In addition, Van Don International Airport with first commercial flights will expand air cargo transport for enterprises in the area.

Location of Dong Mai Industrial Park (Quang Yen, Quang Ninh)

According to the report on provincial competitiveness index 2018 (PCI) recently launched by Vietnam Chamber of Commerce and Industry (VCCI), Quang Ninh province continues to hold the top position. With this recognized advantage, Dong Mai Industrial Park has the potential to attract more foreign investment in the future.

Currently, Dong Mai Industrial Park has Yazaki Corporation – Japan’s largest corporation in manufacturing electric wires in cars for the world’s leading auto companies which came into operation in 2013. In 2016, Vietnam Vega Balls Company under Yuan Chi Group (Taiwan) – Top 5 leading basketball producers in the world became interested in renting land. In the first quarter of 2019, after the transportation system has been fully connected, Dong Mai Industrial Park welcomed two more enterprises specializing in manufacturing and assembling electronic components for TCL Group with an investment of estimated capital as much as $USD 30 million.

Invested up to $USA 30 million by Viglacera Corporation, Dong Mai Industrial Park has the scale of 160 ha with synchronous infrastructure system. The park had a 110/22KV power source supplied from the national grid, water supply station with capacity of 6,500 m3 per day and night, rainwater and waste water drainage system separately built, public sewage treatment plant with the capacity of 4,800 m3 per day and night. In addition, investors are supported with: customs services, banks, hospitals, post offices, and especially Dong Mai urban area with an area of 9.1ha which is ready to provide accommodation for workers, if needed, right in the industrial park.

The industrial park has clean land, competitive rent cost, and get ready to welcome businesses to build factories right away.

For further information, please contact: Viglacera Real Estate Company – Phone: (+84) 888 25 22 88 | Website: https://viglaceraip.com

Vietnam has become an attractive destination to foreign investors in Southeast Asia thanks to a strong network of free trade agreements. As a result, Viglacera has been successfully getting attention from foreign investors in 2018.

In 2018, Viglacera’s Industrial Parks (IPs) continuously welcomed lots of leading enterprises from China, Taiwan, Hong Kong, South Korea, Japan and Europe for land lease. There was a surge in number of client day after day, especially at the end of the year, when companies were preparing for 2019 business plans.

Owning a series of premise located in many provinces, Viglacera can offer its investors a variety of options and meet particular needs of each business. So far, Viglacera has developed 11 industrial parks and 01 special economic zone with a total area of 4,038 ha, attracting nearly 12 billion USD in Bac Ninh, Quang Ninh, Thai Binh, Ha Nam, Hung Yen, Thua Thien Hue, and ViMariel Special Economic Zone in Cuba.

Alone in November 2018, Viglacera’s IPs successfully attracted leading enterprises with an estimated leasing land to reach 40ha in Yen Phong Industrial Park (Bac Ninh), Dong Van IV Industrial Park (Ha Nam), Tien Hai Industrial Park (Thai Binh).

Specifically, Shandong Intco Medical Product Co., Ltd. signed a land lease agreement in Tien Hai Industrial Park (Thai Binh) to manufacture medical gloves.

Image of Shandong Intco Medical Products Corporation Ltd. Factories in Zhenjiang, China

In Yen Phong Industrial Park, Deli Group Co., Ltd., a world leading stationery brand, decided to invest in constructing and operating a factory.

The world leading stationery brand Deli invested in a factory in Yen Phong Industrial Park

Additionally, Dong Van IV Industrial Park (Ha Nam) welcomed the Autonics Corporation to rent land for sensor equipment production, meanwhile some other electronic enterprises also decided to invest in this industrial park.

Image of the Autonics Group headquarters in Busan, South Korea

Apart from those enterprises, Viglacera continued to meet and consult many other investors interested in Vietnam market in general, and Viglacera’s IPs in particular. Nowadays, all industrial parks have available land to welcome businesses to rent and build factories.

Viglacera is proud to be the leading industrial park developer in Vietnam with the list of active industrial parks including: Tien Son Industrial Park (Bac Ninh), Yen Phong Industrial Park (Bac Ninh), Phu Ha Industrial Park (Phu Tho), Hai Yen Industrial Park (Quang Ninh), Dong Mai Industrial Park (Quang Ninh), Tien Hai Industrial Park (Thai Binh), Dong Van IV Industrial Park (Ha Nam), Phong Dien Industrial Park (Thua Thien Hue), Vimariel Special Economic Zone (Cuba). These IPs have attracted over 300 investors around the world, of which are such reputable brands as Samsung, Orion, Canon, Toyoda Gosei, Yazaki, Ariston, Texhong. In 2019, Viglacera plans to start constructing the next industrial parks in Yen My (Hung Yen) and Thuan Thanh (Bac Ninh).

For further information, please contact our hotline: (+84) 8888 22 55 88 | Website: https://viglaceraip.com

Three major transport projects include Van Don international airport, Ha Long international cruise port and Ha Long – Van Don highway.

These three projects were invested under the public-private partnership model, with the goal of improving transport infrastructure, shortening the distance to boost the socio-economic development of the province.

Specifically, when it is in operation, Ha Long – Van Don highway will reduce travel hours to 2 hours from Hanoi to Van Don, instead of 4.5 hours as it is now. Van Don international airport, when it comes to be in use, is expected to cater 5 million passengers per year and serve big jets such as Airbus A350, Boeing 777. Hon Gai cruise port is also desired to support local travel, it was constructed under the private-public partnership between Quang Ninh province and Sun Group.

After 4 years of implementation, these three transport projects have been completed and put into operation from December 30, contributing to connect the province with others in the region as well to form a link between the North economic development region and the whole country.

Source: VTV