AEC Feed

Vietnamese firms have failed to fully exploit the promising Middle Eastern and African markets, despite encouraging export turnovers they have earned from these countries in recent years, a seminar heard in Hanoi on Thursday
Countries in these regions had high import demand for food, agricultural, seafood and consumer products that Vietnamese enterprises were capable of providing, said Ngo Khai Hoan, deputy head of the Ministry of Industry and Trade's Africa, West and South Asia Markets Department.
As well as these reviewed items, the Middle Eastern nations alone had rising demand for construction materials, electronic cables, home decor, milk and milk products as well as office machinery and equipment. Also goods that would be to Vietnam’s advantage, Hoan said.
In order to foster exports to these lucrative markets, domestic enterprises had to revise their business strategies with focus on improving their distribution channels while developing new ones, said Le Thai Hoa, deputy head of the department.
They should be also proactive in participating in trade promotion and fact-finding trips along with trade fairs and exhibitions held in these countries in a move to better study the tastes of consumers there.
Vietnamese businesses also needed to improve their understanding about these countries' cultures so that they could |provide suitable products, Hoa said, calling for closer links between exporters.
 – Viet Nam News

Forex liberalisation
The Philippines’ Bangko Sentral ng Pilipinas (BSP) has removed the registration requirements for foreign loans of non-banks with quasi-banking functions (NBQBs), part of the foreign exchange liberalisation measures introduced by monetary authorities.
In a statement, the BSP said the Monetary Board had approved to lift the rule mandating prior BSP approval, among other requirements, for NBQBs’ loans from offshore sources, offshore banking units and banks’ foreign currency deposit units.
The BSP said the new rule would take effect on Sept 15, alongside other liberalisation measures approved by the monetary board last week.
BSP Governor Amando Tetangco Jr said the new policy “will facilitate borrowing transactions of NBQBs to fund their operations and projects and better contribute to economic growth.” These accounts, will remain covered by the reportorial requirements under the manual of regulations on foreign exchange transactions, he said.
-Philippine Daily Inquirer

Vietbeauty opens
A business-to-business beauty exhibition, Vietbeauty 2016, opened on August 18 at the Si Gin Exhibition and Convention Centre in HCM City's District 7, bringing opportunities for domestic and foreign companies in the beauty industry.
As the country's premier international beauty exhibition, Vietbeauty 2016 has attracted over 150 exhibitors from 15 countries and territories showcasing products, services and techniques as well as equipment. The international pavilions include Japan, Korea, Singapore, Thailand, China, Taiwan and India.
“The field of aesthetics has grown strongly over the past decade and surely will break out in quality and quantity in the coming years. The event is very necessary and is a good background business-to-business for the meeting of beauty and aesthetics professionals to explore the latest products, technologies, advances and treatments from many leading manufacturers, distributors, cosmetics brands and aesthetic technology companies,” said Le Hanh, president of HCM City Society of Aesthetic and Plastic Surgery.
– Viet Nam News

ICT sector upbeat
The Indonesian government is optimistic over information and communication technology (ICT) , predicting the sector will grow by 10.6 per cent in 2017, making it the only sector expected to grow by double digits next year.
The National Development Planning Agency (Bappenas) set the bold target given the fact that broadband internet connection - the 4G long-term evolution (LTE) and fibre optics - now extend into more cities, supported by an increasing number of affordable handsets for end-users.
“The Palapa Ring project will be the focus in 2017, and 440 cities in 34 provinces will be connected by fibre optics. The government will also develop internet access in 800 industrial zones and special economic zones,” National Development Planning Minister Bambang Brodjonegoro said in Jakarta on Thursday.
Meanwhile, the transportation and warehousing sector, which benefits from ICT development in the wake of a boom in e-commerce, is predicted to grow 7.1 percent next year.
– The Jakarta Post