Bullet train gets a second look The Ministry of Transport is conducting a new feasibility study for the construction of North-South Express Railway, with a focus on two initial sections - Ha Noi - Vinh and HCM City - Nha Trang. The study has been initiated after the National Assembly last June rejected the complete 1,570km North-South Express Railway project, saying the cost of US$55.85 billion was prohibitive. "We have to build an express railway, but every step of the construction will be studied carefully and properly and we are conducting a new feasibility study for that," said Transport Minister Ho Nghia Dung. … [Read more...] about BUSINESS IN BRIEF 13.1
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BUSINESS IN BRIEF 11/8
Vietnamese consumer confidence dwindles in Quarter II Vietnam's consumer confidence index in Quarter II dropped by 2 points from the previous quarter to 107 points, according to the latest Consumer Confidence Index released recently by Nielsen Vietnam, a leading market research company. Despite the fall, Vietnamese consumer confidence is still at a high level, with the country the 7th most optimistic across the world, Nielsen stated. The Vietnamese remain optimistic about the local economy in comparison to other nations, Nguyen Huong Quynh, Managing Director of Nielsen Vietnam said, with the continued growth of the middle class and the Government's stable economic outlook contributing to the confidence. "Vietnamese consumers pay close attention to what is happening, being easily influenced by word of mouth, social media, etc. This means manufacturers and retailers have to move fast to foresee and address concerns," Quynh added. The report also revealed that Southeast Asian consumers … [Read more...] about BUSINESS IN BRIEF 11/8
BUSINESS IN BRIEF 4/10
Most companies confident of better performance in Q4 Up to 85.6 percent of the surveyed companies believe that their production and business situation will remain stable or improve in the last quarter of 2016. Among them, 48.8 percent expect improvement while another 36.8 percent hope for continued stability. About 50.3 percent of the businesses forecast their production output will increase from Q3 while 36 percent said it will remain unchanged. Only 13.7 percent said their production may decline. An augmentation in export orders is forecast by 38.6 percent of the questioned firms, and another 46.3 percent hope for the same volume of export orders as in Q3. The GSO said while 16.2 percent of the respondents believe their products will be sold at higher prices in Q4 compared to the previous quarter, 75.4 percent expect unchanged prices. Only 8.4 percent of the businesses predict lower prices. Meanwhile, 30.4 percent of the companies are confident of a drop in their unsold … [Read more...] about BUSINESS IN BRIEF 4/10
BUSINESS IN BRIEF 6/8
Kien Giang province eyes $1 billion in export turnover Farm produce is expected to bring home 495 million USD; aquaculture, 230 million USD; other commodities, 44 million USD and products from state-owned enterprises, 250 million USD. The province will branch out frozen shrimp, frozen squid and rice to markets with strong purchasing power while enhancing the competitiveness and integration capacity of businesses. Maintaining and enlarging the distribution network as well as stabilising traditional markets and expanding potential markets are also among the province’s goals. Along with creating favourable conditions for local enterprises to upgrade their production, the province has encouraged farms to apply advanced technology. The province wants to export high value-added agricultural products and develop competitive commodities to gain a foothold in foreign markets. In addition to enhancing trade promotion, the province will use market surveys and international and domestic … [Read more...] about BUSINESS IN BRIEF 6/8
BUSINESS IN BRIEF 6/1
Garco 10 targets turnover of $75m Garment 10 Corporation (GARCO 10) expected to gain a turnover of VND1.58 trillion ($75.9 million) in 2012, of which exports will reach VND1.4 trillion ($67.2 million). To achieve this goal, the corporation will apply modern technology to improve production capacity, in addition to seizing opportunities to boost exports right after the global market shows signs of recovery. The corporation last year achieved a turnover of VND1.3 trillion ($63.2 million), up 30 per cent from last year. Of this number, exports reached $50 million, up 40 per cent over the previous year. VAT exempted on advance securities payments A new decree has been issued amending the Law on value added tax. From March, advance payments on securities will no longer be subject to VAT. In addition, VAT will also be exempted on loans for margin trading. It is hoped the regulation will end the dispute between the securities watchdog and securities companies about the tax. … [Read more...] about BUSINESS IN BRIEF 6/1