Vietnam, Myanmar eye US$1 billion in bilateral trade turnover
Deputy Prime Minister Vuong Dinh Hue and business representatives at the meeting.
Deputy Prime Minister Vuong Dinh Hue reiterated the target during a June 18 meeting with Vietnamese firms operating in Myanmar, as part of during his three-day working visit to the neighbouring country which concluded on the same day.
Considering Myanmar as a great potential market, Deputy PM Hue suggested that Vietnamese firms, which have been operating in and plan to penetrate the market, should stick firmly to their business plans in the hope of reaping rewards in the future.
Over 200 Vietnamese firms have been running their business and investment in Myanmar, notably high - profile firms such as Hoang Anh Gia Lai Group, Vietnam Airlines, Viettel, and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Hue said, adding that Saigon – Hanoi Commercial Joint Stock Bank (SHB) is eyeing the market.
Previously, the Government delegation led by Deputy PM Hue called upon the Myanmar side to create favourable conditions for Vietnamese firms during meetings with Myanmar officials. They also suggested that Myanmar should simplify administrative procedures and slash the time for quarantine and customs clearance set for Vietnamese goods.
Myanmar was also required to offer preferential policies to Vietnamese investors and ease the difficulties that they are facing, including Hoang Anh Gia Lai Group, Viettel, and PetroVietnam Oil Corporation (PVOIL).
The Deputy PM applauded efforts and contributions by the Vietnamese business community in Myanmar to promote trade and investment ties between the two countries.
Vietnamese businesses were asked to strictly abide by Myanmar’s legal regulations and enhance their corporate social responsibility activities as well as contributions to the country’s overall socio-economic development.
Related News
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Wood exports started well
13:26 | 20/04/2024 Import-Export
Latest News
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Central Highlands needs to develop border gate economic zones for higher export
16:41 | 29/04/2024 Import-Export
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
16:37 | 29/04/2024 Import-Export
Experts call for efforts in protecting IP rights
15:02 | 28/04/2024 Import-Export
More News
Policies needed to encourage e-commerce to embrace circular economy
15:00 | 28/04/2024 Import-Export
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export
Efforts to supply US $ one billion of raw materials and cosmetics to replace imported goods
06:14 | 28/04/2024 Import-Export
Ample room for Quang Ninh to attract FDI
19:47 | 27/04/2024 Import-Export
Vietnam’s rice exports may exceed 2024 target
19:46 | 27/04/2024 Import-Export
Opportunity for exporting to Thailand market
14:48 | 27/04/2024 Import-Export
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Your care
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Central Highlands needs to develop border gate economic zones for higher export
16:41 | 29/04/2024 Import-Export
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
16:37 | 29/04/2024 Import-Export
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export