HA NOI — Vietnamese exporters participated in an online meeting organised by the Ministry of Industry and Trade yesterday to distribute information about the European export market. During the online session, Deputy Minister of Industry and Trade Nguyen Thanh Bien, representatives from trade promotion agencies and embassy counsellors talked about the uncertainties facing export companies and offered advice that could help them boost exports to the market. Representatives and a number of enterprises pointed out the main difficulties faced by Vietnamese exporters, including the difficulty in making contact with importers, the European Union's (EU) strict rules, food safety regulations facing domestic seafood production and the ability of Vietnamese firms to engage in legal action when necessary. Tran Ngoc Quan, deputy head of the EU Market Department under MoIT, said contacting global supply chains and linking with Vietnamese enterprises already operating in the EU were two … [Read more...] about Ministry assists exporters in targeting EU market
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VietNamNet Bridge – The online trade now in Vietnam has special characteristics, beginning with “no”: no tax, no clear origin of products and no certificate on product quality. A buyer wanted to order a pair of sports shoes worth VND1.1 million on www.b4u..., a website of a well-known media company in Vietnam, but he could not find the information about the payment method on the website. The website’s assistant worker then told him that the shop, located in Hanoi, would send the products through the post to the receiver in HCM City, while the shipping fee would be charged on the buyer. When the buyer asked if he would get VAT invoice if he buys a large quantity of products, he was told that the shop does not issue VAT invoices. The online shop on www.thegioimypham... Displays hundreds of branded cosmetic products sourced from an Asian country. The noteworthy thing is that the products have “very reasonable” selling prices. The saleswoman at … [Read more...] about Authorities fail to collect tax from online shops
Following a successful 2015 and a promising first half of 2016, the Vietnamese mergers and acquisitions scene is poised to extend its momentum for the foreseeable future. A look back at 2015 and early 2016 2015 has been a positive year for mergers and acquisitions (M&A) worldwide, according to the American law firm WilmerHale. In the Asia Pacific region, the total value of M&A activities have jumped by 39 per cent to reach $980.4 billion. Specifically, the Vietnamese M&A market recorded $5.2 billion worth of deals in 2015 and $3 billion in the first half of 2016, rising 28 per cent year-on-year. The MAF Research Team, including experts from the Institute of Mergers, Acquisitions and Alliances, Vietnam National University of Hanoi, and others, noted that investment waves from countries in the region have triggered M&A transactions in Vietnam. The most active foreign investors in 2015 and early 2016 are from Japan, Singapore, and Thailand. “The Vietnamese … [Read more...] about Great results for Vietnam’s M&A market
Chairman of the heavy industry and property developer Vina Megastar Group. — File Photo HA NOI (Biz Hub) — Local press have reported that Nguyen Hoang Long, chairman of the heavy industry and property developer Vina Megastar Group, has been arrested for fraudulently appropriating assets belonging to SeaBank. Investigators initially accused Long of usurping nearly VND30 billion ($1.43 million) from the bank, which he claimed was to be invested in the company's real estate projects. The company is said to have a stake in around 10 developments. Long's arrest has sparked panic among fellow investors and property buyers who are now faced with the risk of losing billions of dong. Vina Megastar is best-known as the investor in Hesco Van Quan and Vinh Hung Dominium, two major office and housing complexes which the company began funding, along with other firms, in 2009-10. The model of Nhan Chinh Park, a project of Vina Megastar. — File Photo According to … [Read more...] about Property firm chairman arrrested
Stock Market Outlook 2008: Brighter Prospects? The Vietnamese stock market ended 2007 after many shifts. Overheated growth did not happen in 2007 as in 2006. Although the market had significant development, the movement in the second half of 2007 caused experts and investors to review their assessments. A changing year ends From the first trading day of 2007 (January 2) to date, the stock market experienced sine-shape movements. From January to March 2007, the VN-Index peaked at 1,170.67 points (March 12) after a steady rise. Then, the market was on a downtrend for the next four months to bottom out at 883.9 points on August 6. By the end of August, the market rallied and then cooled down until the year end. In total, more than 2.3 billion securities were traded at a combined value of VND193,000 billion (US$12 billion) on the Ho Chi Minh City Stock Exchange. As of end 2007, 112 companies were listed on HOSE with a listing value of over VND13,140 billion and market capitalisation … [Read more...] about Stock Market Outlook 2008: Brighter Prospects?