There is no regulation about the discount rates suppliers have to pay to supermarkets or the the ratio of Vietnam-made goods that must be available at supermarkets. Talking with Tuoi Tre newspaper late last week, a representative from Central Group, the owner of Big C supermarket, said the high discount rates of 40-50 percent are shown in contracts signed between Big C and suppliers, and the rates are based on mutual agreement. Experts all affirmed that the Price Law and the documents guiding the implementation of the law donor include any provision on the discount rates suppliers have to pay when bringing goods to supermarkets. The discount rates will be defined after the two parties negotiate and come to agreement. According to Nguyen Tien Thoa, chair of the Price Inspection Association, the state only controls the prices of some kinds of products, and, therefore, can only control the discount rates of some kinds of products. As for other products, the selling prices and … [Read more...] about Is it necessary to set regulations on discount rates at supermarkets?
Anti dumping duty rates
Deputy Minister of Public Security Le Quy Vuong speaks at the conference (Photo: VNA) Son La (VNA) – The cooperation between the Son La province border guard force, the Vietnam Border Guard High Command’s anti-drug department and competent agencies of the Lao Houaphan and Luang Prabang provinces has successfully put an end to several major drugs cases in contribution to curbing the crime along the Vietnam – Laos borderline. It was heard at a conference held in the northern mountainous province of Son La on April 25 to review a decade of implementing the local SH 09 plan on cooperation with northern Lao provinces in combating drugs smuggling. The sides have jointly busted 3,320 drug trafficking cases, arresting 4,664 suspects and seizing more than 874 kg of heroin, 56 million synthetic drug pills, and 300 kg of opium. Speaking at the conference, Deputy Minister of Public Security Le Quy Vuong recommended such collaboration should be maintained in the coming time. … [Read more...] about Son La reviews 10-year anti-drug trafficking with north Laos
A view of Jakarta's skyline. (Photo: AFP/BAY ISMOYO) Hanoi (VNA) - Moody’s Investors Service upgraded its credit rating for Indonesia on April 13, praising the country’s central bank and government policies for boosting confidence in the largest economy of Southeast Asia. Indonesia's efforts in keeping budget deficit and inflation under control led to Moody's boosting its rating to Baa2 from Baa3 with a stable outlook. A better credit rating tends to lower a country's borrowing costs and can make it more attractive to investors. In December last year, Fitch Ratings increased Indonesia's sovereign rating, with Standard & Poor's previously raising Indonesia's credit rating from junk status to investment grade. Indonesia’s economy grew by 5.1 percent in 2017, up from the 2016’s figure of 5 percent, still well below President Joko Widodo's target of 7 percent.-VNA VNA … [Read more...] about Moody elevates Indonesia credit rating
Moody’s has lifted the long-term local and foreign-currency deposit and issuer ratings of the Bank for Foreign Trade of Vietnam (Vietcombank). (Photo: VNA) Hanoi (VNA) – Moody’s Investors Service has taken rating actions on 14 Vietnamese commercial banks in its latest report issued on August 14. Moody’s has lifted the long-term local and foreign-currency deposit and issuer ratings of the Bank for Foreign Trade of Vietnam (Vietcombank), Bank for Investment and Development of Vietnam (BIDV), and Vietnam Bank for Industry and Trade (VietinBank). The firm has also upgraded the long-term counterparty risk ratings (CRR) and counterparty risk assessments (CRAs) of VietinBank and BIDV, and affirmed those of Vietcombank. The firm has also upgraded the long-term foreign-currency deposit ratings of Asia Commercial Bank (ACB), Military Bank (Military Bank), and Vietnam Technological and Commercial Bank (Techcombank). All other ratings of these three banks stayed the … [Read more...] about Moody’s upgrades ratings of 14 Vietnamese banks
Vietnamese steel manufacturers must be transparent about the origin of their products when exporting to all markets, experts say. The US Department of Commerce has imposed a high tax rate of 456.23 percent on some kinds of steel imported from Vietnam using materials from South Korea and Taiwan. This is the highest duty the US has ever imposed on Vietnam’s steel exports. Over many years, the steel industry has faced many trade remedy lawsuits. China, which is witnessing an oversupply, has tried every possible way to boost exports and appropriate the world market. This raises a big concern to the US. Meanwhile, the US, reasoning that Vietnam’s products use Chinese materials, has imposed high taxes on imports from Vietnam. Vietnamese steel manufacturers rely heavily on materials from China. Mai Lan Vietnam steel not affected much by US taxation: experts The US’s latest decision on imposing tariffs on more than 400 percent of steel imports from Vietnam … [Read more...] about Vietnamese origin of steel products needs to be transparent