Britain japan trade deal

School students will compete in a writing and painting contest to promote Japan-Vietnam friendship, celebrating the 50th anniversary of diplomatic ties between the two countries in the central city from March 30 to May 30. Children join an outdoor reading session at the Japanese-styled Sakura Kindergarten in Da Nang. A writing and painting contest will be organised for 10,000 school students in Da Nang to promote the Japan-Vietnam friendship. (Photo: VNA) The contest is titled 'Da Nang school students joining hands in strengthening the Japan-Vietnam friendship'. It will feature around 10,000 students from primary, secondary and high school who will send their paintings and essays to Japan for selection on June 5-30. The best paintings and writings in Vietnamese or Japanese would be given awards in a ceremony in July. Da Nang was the first city in central Vietnam to promote cooperation with Japanese partners in high-quality human resources … [Read more...] about School students help promote Japan-Vietnam friendship

A wood processing plant in Binh Duong. The wood processing industry is making efforts to regain growth momentum. — VNA/VNS Photo Vu Sinh Faced with a slump in export orders, woodworking firms have been striving to stay afloat in various ways. Do Thi Kim Loan, general director of Sao Nam Trading and Production Co., Ltd, which makes wooden flooring, said the company’s export orders are down 35-40 per cent year-on-year this year as orders from the US market, its major export market, drop sharply. “With exports to the US plunging, we seek to export to Canada and accept outsourcing orders from Australian customers. “Australian wood flooring importers ship materials to my company, we carry out the final processing stages, pack and re-export them. “This is an adaptation to partially offset the decline in our major market.” Binh Duong-based furniture company Bao Hung has also seen a sharp drop in orders from the US, its key market, this year. Phung Quoc Cuong, its marketing … [Read more...] about Wood industry strives to regain growth momentum

VPBank last week was rumoured to be close to an agreement to sell 15 per cent of stakes to Sumitomo Mitsui Financial Group, one of Japan’s largest financial companies. The estimated agreement is valued at around $1.4 billion, cited Bloomberg. “The Vietnamese bank will sell more than one billion shares to SMBC Consumer Finance, a unit of the Japanese megabank, for $1.35-1.39 each,” the newswire noted. Banks continue with consolidation game, illustration photo/ Source: Shutterstock VNDirect Securities told VIR that due to a high capital adequacy ratio of 20.5 per cent in 2022, VPBank could receive a higher credit limit from the State Bank of Vietnam this year. In addition, the brokerage predicted that the bank would invest significantly to diversify its products and expand its footprint in other segments, such as VPBank Securities in the securities market or OPES – its new non-life insurance arm. With the 15 per cent stake sale to SMBC, VPBank would consolidate and … [Read more...] about Banks continue with consolidation game

PM Pham Minh Chinh speaks at the event. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh had a working session with a delegation of the US-ASEAN Business Council (USABC) in Hanoi on March 22, during which he said Vietnam wants to promote its comprehensive partnership with the US in a practical, effective, equal and mutually-beneficial manner. The delegation comprised leaders of over 50 leading US and world businesses like Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, Fedex Express, among others. PM Chinh affirmed that Vietnam always considers the US one of the top important partners, adding that the Vietnamese Government always stays ready to listen to the US firms to deal with difficulties in the spirit of harmonising benefits and sharing risks. He said Vietnam is carrying out three strategic breakthroughs, including building and fine-tuning institutions, reforming administrative procedures and training human resources, … [Read more...] about Vietnam wants to further promote comprehensive partnership with US: PM

Panasonic Life Solutions Vietnam in Vietnam - Singapore Industrial Park, Binh Duong province. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment. The move comes amid concerns that this measure might undermine the competitive advantage of developing countries in attracting foreign investment through offering tax incentives. The global minimum tax was Pillar Two of the Organisation for Economic Co-operation Development ( OECD )’s base erosion and profit-shifting (BEPS) framework. To date, the solution drew the participation of over 140 countries and jurisdictions, including Vietnam, which aimed to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate through the establishment of a global minimum effective corporate tax rate of 15% for those with annual revenue of 750 million euros, starting from … [Read more...] about Vietnam to develop policies to adapt to global minimum tax