Vietnam Expo to enhance regional, global economic links The 26th Vietnam International Trade Fair (Vietnam Expo), slated for April 13 - 16 in Hanoi, is considered an effective channel to tighten the country's economic connections with regional and global partners. The trade fair features 600 stands from about 500 companies, representing 23 countries and territories including India, China, Singapore, Turkey, Russia, Switzerland, and Australia, an executive of the Vietnam National Trade Fair and Advertising Company said on April 7. The annual event will provide a platform for Vietnamese enterprises to market their products, expand the domestic market and seek partnership with foreign peers, according to Director General of the Vietnam Trade Promotion Agency (Vietrade) Bui Huy Son. Notably, it will be attended by many companies with products that have obtained the Vietnam Value title - a symbol of prestige and quality, including Vietnam Electrical Equipment JSC, the Tran Phu Electric … [Read more...] about BUSINESS IN BRIEF 10/4
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New Policies Take Effect on Nov 1, 2014
New Policies Take Effect on Nov 1, 2014 State budget-wasting disclosure, social insurance policy changes, revised import tax, gasoline business operation and motorcycle traffic fees are new policies that take effect on November 1, 2014. Petroleum governed under new decree The Government of Vietnam issued Decree 83/2014/ND-CP on petroleum business replacing Decree 84/2009/ND-CP dated October 15, 2009. The new ruling takes place on November 1, 2014. According to the new ruling, fuel distributors can buy fuel multiple wholesalers under purchase and sale contracts. Fuel traders will allocate petroleum to their retail agents and pay for them. Besides, petroleum traders are allowed to conduct petroleum business in the form of franchising to retailers. Printers, photocopiers must report operations The Government issued Decree 60/2014/ND-CP requiring printing and photocopying establishments to report their operations to authorities. The Decree comes into force on November 1, 2014. … [Read more...] about New Policies Take Effect on Nov 1, 2014
BUSINESS IN BRIEF 20/2
VN Customs ranking 8th in customs statistics Viet Nam Customs was ranked eighth among 160 nations in terms of customs statistics. Representatives from the Department of Information Technology and the General Department of Viet Nam Customs revealed that the ranking was formed based on calculations of three professionals in the Asian Development Bank (ADB). The imports and exports statistics collected by Viet Nam Customs gained high mark, equal to the Republic of Korea’s customs. In comparison with other countries in ASEAN, Viet Nam followed Thailand in the ranking. The result showed the quality of customs and commercial management of Viet Nam. Chile led in the ranking, followed by Japan and Peru. Vietnam, South Africa to double bilateral trade value The Governments of Vietnam and South Africa have set to double bilateral trade value through increasing the sale of staples of their strength. Accordingly, South Africa will boost shipments of coal, beef and fruits to Vietnam, while … [Read more...] about BUSINESS IN BRIEF 20/2
BUSINESS IN BRIEF 11/11
HCM City to hold international cashew conference The 7th Vietnam International Cashew Conference is set to take place in the southern metropolis of Ho Chi Minh City from November 22-24, according to the Sai Gon Giai Phong newspaper. The event is expected to host representatives of over 300 enterprises and associations, including those from 30 countries and territories like the Global Cashew Council (GCC), the US’s Association of Food Industries (AFI), and the African Cashew Alliance (ACA). The conference is co-organised by the Vietnam Cashew Association (VINACAS) and the Vietnam Trade Promotion Agency (Vietrade). In the first 10 months of 2015, Vietnam exported 272,000 tonnes of cashew nuts for a turnover of 1.9 billion USD, up 6 percent in volume and over 18 percent in value compared to the same period last year. The cashew sector is expected to bring home 2.5 billion USD in 2015, of which 2.3 billion USD are from cashew nuts. Vietnam continued accounting for over 50 percent … [Read more...] about BUSINESS IN BRIEF 11/11
BUSINESS IN BRIEF 20/11
Cargill to expand investment in Vietnam The animal feed market in Vietnam has a relatively high potential, which has prompted Cargill group to invest more in the country, according to the US group’s Chairman David McLennan. Talking to the press in Ho Chi Minh City on November 18, McLennan said plans for new factories demonstrate the group’s commitment to the country. Cargill is constructing its 12th animal feed plant in Vietnam with a total investment capital of 30 million USD in the southern province of Binh Duong. The factory, with a capacity of 260,000 tonnes a year, is expected to go into operation in the first quarter of 2017. The group has invested 180 million USD to develop its animal feed mills system with a total capacity of 1.3 million tonnes a year in the country since 1995. Additionally, the groups signed a 10 million USD deal with the Sai Gon International Terminals Vietnam (SITV) to build warehouse in Phu My. Besides expanding its investment in Vietnam, … [Read more...] about BUSINESS IN BRIEF 20/11