business

Illustrative image (Source: VNA) HCM City (VNA) – More than 12,440 enterprises in Ho Chi Minh City owed social insurance, employment insurance and health insurance premiums totaling over 2.7 trillion VND (118.2 million USD) as of June 2018, making up 4.2 percent of the annual collection plan. The information was revealed by Director of the HCM City Social Security Phan Van Men at a conference in the city on June 19 to review the implementation of social insurance, health insurance and unemployment insurance policies in the first six months of 2018. He said 2,440 businesses failed to pay the insurance premiums worth 523 billion VND in over six months while nearly 10,000 others owed social insurance insurance fees from two to six months. He added that 387 billion VND (16.9 million USD)out of the total debt amount could not be retrieved, coming from 1,570 dissolved and bankrupt businesses. In the first half of 2018, the city’s Social Security conducted inspections over … [Read more...] about HCM City: Over 12,440 firms owe insurance premiums

The VNTT Company and NTT Vietnam Corporation sign a business cooperation contract in Binh Duong province on June 19 (Photo: VNA) Binh Duong (VNA) – The VNTT Company, a subordinate business  of the Becamex IDC Corp., based in southern Binh Duong province, and the NTT Vietnam Corporation, an affiliate company of the NTT Group of Japan, officially signed a business cooperation contract on June 19, a move towards partnership in smart city building in Vietnam. VNTT, founded in 2008, currently owns one of the three most modern and biggest data centres in Vietnam. Meanwhile, NTT is a leading telecommunications and IT company in Japan. The newly signed contract covers business cooperation in building, developing and operating cloud Wi-Fi networks and cloud-based value added services. It is to materialise the memorandum of understanding signed by Becamex IDC and the NTT Group with the aim of cooperating to study the feasibility of developing smart cities in Vietnam, … [Read more...] about Vietnam, Japan firms partner in smart city building in Binh Duong

Processing farm produce for exports (Photo: VNA) Hanoi (VNA) – Optimising advantages in the markets signing free trade agreements (FTA) with Vietnam is expected to contribute to boosting Vietnam’s export revenue. In the first five months of this year, agro-forestry-fishery exports hit 15.6 billion USD, a rise of 9.9 percent over the same period last year. Four leading markets of the products were the US, Japan, China and the Republic of Korea. But many experts worried that the dependence on some major markets will pose high risks to not only agro-forestry-fishery products but others produced by Vietnam when fluctuation happens in these markets. In the January-May period, Vietnam earned 1.45 billion USD from rice export, up 13.9 percent in volume and 40 percent in value over the same time in 2017. The top market of Vietnamese rice was China. According to Nguyen Ngoc Nam, President of the Vietnam Food Association, opportunities for Vietnam’s rice export are … [Read more...] about Exploiting FTA markets – good way to boost export revenue

Mangos are packaged to prepare for export (Photo: VNA) Hanoi (VNA) – Meeting tougher technical standards in production and preservation is the key to helping Vietnam’s agricultural products, including fruits, actively raise their export volume and value, an official has said. Nguyen Quoc Toan, Acting Director of the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development, made the remark at a workshop in Hanoi on June 19 that focused on the Republic of Korea (RoK)’s management system of the plant protection product  (PPP) residue list for imported agricultural products. He said although agricultural products of Vietnam boast huge export potential, only when they meet strict production and preservation standards can the possibility of being exported directly to such markets as the RoK, Japan, Taiwan (China) and Europe be improved. Le An Hai, Deputy Director of the Department for Asian – African Markets of … [Read more...] about Firms updated about RoK’s new rules on agricultural imports

At the fifth round of negotiations (Photo: VNA) Jerusalem (VNA) – Vietnam and Israel reached progress during the fifth round of negotiations on a free trade agreement (FTA) between the two nations which was recently held in Jerusalem city. Trade in goods, rules of origin, customs, technical barriers to trade, trade in services, trade safeguard, investment, government’s purchase, and other legal and institutional issues were tabled at the fifth round. In the spirit of openness and frankness, the two sides made headway in major negotiation fields such as good and service trade, and agreed make greater efforts to complete the negotiations soon in line with directions of the two countries’ leaders. Vietnam and Israel have enjoyed increasing two-way trade in the past years. Last year, bilateral trade reached 1.06 billion USD, of which Vietnam exported 713 million USD worth of products to Israel and imported 347 million USD worth of goods from the Middle East country. … [Read more...] about Vietnam, Israel hold fifth round of negotiations on FTA