The
summit between US President Donald Trump and North Korea leader Kim Jong Un organized in Hanoi had ended smoothly. Even though both countries have come forward to a better improvement in the relationship and promised to meet again in the future. However, no mutual agreement has been reached.
As for Vietnam, the matter that caught as much attention from the investors is what benefit Vietnamese enterprises would enjoy after this historical summit.
Previously, Vice PM, Minister of Foreign Affairs Pham Binh Minh and Secretary of State Mike Pompeo had agreed upon the trade and investment cooperation to be the bilateral relation.
In fact, Vietnam – US trade cooperation has been continuously increasing during the last few years. Trade turnover on both sides has come up from 450 million dollars in 1994 to 60 billion dollars in 2018. As of January 2019 only, export goods turnover to US has reached over 5.151 billions dollars, up 42,1% compared to month-to-date.
In this US – North Korea summit, VietJet and Bamboo Airways of FLC Group had signed agreement of 110 airplanes in a total number, in which VietJet purchased 100 Boeing 737 Max jets, worth USD 12.7 billion and Bamboo has signed a nearly-USD-3-billion contract to buy 10 Boeing 787-9 Dreamliner wide-body jets.
Being a late-born airline, the fact that this is the second time that Bamboo partnered with Boeing within less than 1 year to buy another 10 Boeing 787-9 Dreamliner wide-body jets has proved the statement to “Go big” as its chairman Mr. Trinh Van Quyet has announced.
As for VietJet, signing contract to buy a great number of jets has not been so strange to those in the field. However, the event of VietJet and Bamboo Airways to sign the agreement under the circumstance of Vietnam to officially receive the CAT 1 certificate and open direct route to US has brought optimism for the Vietnamese.
Apart from those contracts, Vietnam Airlines has also signed a strategic agreement in IT with Sabra Group with a value of 300 million dollars.
While Vietnam is chosen for the Trump – Kim summit, the high-value purchase contracts of jets contribute to increase the trade turnover between US and Vietnam, at the same time, it is expected to bring more US tourists to Vietnam in the near future.
is known that the North Korea, the World’s Most Mysterious Country, has the first move to give the green light to develop private economy and address the shortcomings of the State-owned economy.
Northern Korean delegation came to visit VinFast, VinEco and An Phat Holdings is one of the economic headlines.
Known as one of the most advanced plants in Southeast Asia with the huge investment capital, VinFast is an automobile manufacturing complex with control house, automobile manufacturing plant, electric scooter manufacturing plant, supporting industry area, training center and R&D institute. The complex was developed by prestigious contractors and use the best materials and operation system such as Colorbond tole by NS BlueScope Vietnam, the smart air management system EcoSmart VEC of Dürr (Germany).
During their journey, Northern Korean delegation also paid a visit to An Phat Plastic and Green Environment JSC (An Phat Plastic), a member of An Phat Holdings. Currently, APH is a large enterprise which has offered jobs to over 4,000 employees nationwide, has 12 plants and 11 subsidiary company from North to South.
Northern Korea is observed by the US President himself as a promising country with many economic development potentials. That Northern Korean delegation took priority to visit industrial manufacturing plants, high-tech farms such as Vinfast, VinEco and An Phat Plastics shows that North Korea is shifting its focus on economic development.
Regardless of to-be-signed economic contracts, that Northern Korean delegation took their priority in visiting manufacturing plants in Vietnam after 60 years since first establishment of bilateral relationship shows North Korea’s deep interest in economic development of Vietnam, opens up an opportunity to the economic exchange between Vietnam and North Korea.