The Ministry of Industry and Trade is building up a master plan to prevent the trading of counterfeit and smuggling goods on the e-commerce floor. — Photo congthuong.vn The Ministry of Industry and Trade (MoIT) is seeking solutions to stop fake goods appearing on e-commerce websites, said a ministry official at a conference held in Ha Noi recently. Nguyen Huu Tuan, head of the E-commerce management division of MoIT’s Vietnam eCommerce and Digital Economy Agency, said 2018 was the busiest year for online businesses, with a growth rate of more than 30 per cent. “If this level of growth continues in 2019 and 2020, the market will reach US$13 billion.” However, he said management of the e-commerce sector faced difficulties because forecasts were out of date compared to the rapid growth and development of the industry. “Such limitations are not only challenging Viet Nam, but also many other countries. In Europe, up to 55 per cent of customers receive … [Read more...] about MoiT steps up fight against fake goods online
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BUSINESS NEWS IN BRIEF 19/1
Hanoi 3rd in JLL's City Momentum Index The Asia-Pacific is home to 19 of the top 20 cities on the sixth City Momentum Index published by JLL, highlighting the continuing shift of fast urban growth from the West to the East. Overall, Indian and Chinese cities dominate the rankings, accounting for three quarters of the top 20. Leading the pack are Bengaluru and Hyderabad in India, with Hanoi third. “Asia continues to show strong momentum, with cities that are successfully expanding their innovation economy punching above their weight in terms of attracting capital, companies, and people,” said Mr. Jeremy Kelly, Director of Global Research at JLL. “It’s clear that the tech sector is a key driver of both real estate and economic momentum - driven by large technology firms as well as dynamic startups in cities like Bengaluru, Hyderabad, Ho Chi Minh City and Shenzhen.” Although the global economic cycle is in its late stages, there are still many cities in the … [Read more...] about BUSINESS NEWS IN BRIEF 19/1
BUSINESS NEWS IN BRIEF 19/12
VN wood and furniture firms eye Mexico, Canada Mexico and Canada will be promising markets for Viet Nam’s wood and furniture products when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect in early 2019, according to the Ministry of Industry and Trade. Deputy Minister Tran Quoc Khanh said exports to Canada were worth over US$129 million last year and are expected to top $140 million this year. “The CPTPP will open opportunities for products such as wood flooring and bars to Canada because the market will immediately scrap the import tariff of 3.5 per cent when the agreement comes into effect. “Products such as plywood, picture frames, door frames and especially furniture will also have an opportunity because import tariffs of between 6 per cent and 9.5 per cent will be eliminated as soon as the agreement comes into effect. “Wooden handicrafts will also benefit when Canada agrees to abolish the 7 … [Read more...] about BUSINESS NEWS IN BRIEF 19/12
BUSINESS NEWS IN BRIEF 7/11
Japanese investors explore Ha Nam’s investment environment Ha Nam province will create favourable conditions to attract more Japanese businesses to invest in local projects, said Vice Chairman of the provincial People’s Committee Truong Quoc Huy. During his working session with a business delegation from Japan’s Nagahama city on November 5, Huy affirmed that Ha Nam always considers Japan an important partner in cooperation and investment attraction. Enterprises investing in Ha Nam will be supported in terms of electricity, water, worker recruitment and security, he said. The province has earmarked Dong Van III Industrial Park, which has a favourable location and well-built infrastructure, for Japanese investors, the official said. Huy told his guests that Ha Nam highly evaluated Japanese companies’ investment capacity and cooperation, adding that Japanese firms have always observed their investment commitments to the province, had good working environments and … [Read more...] about BUSINESS NEWS IN BRIEF 7/11
BUSINESS NEWS IN BRIEF 1/11
The upcoming Vietnam Digital Economy Forum (VDEF) 2018 will include special sessions which focus on Vietnam’s digital economic perspectives, featuring local and international keynote speakers. The VDEF 2018, whose theme is “Challenges and strategic solutions for small- and medium-sized enterprises (SMEs) in the Fourth Industrial Revolution,” will take place on Thursday, November 1, at the Rex Hotel in District 1, HCMC. The forum is co-sponsored by the Association of Vietnam Scientists and Experts, and Quang Trung Software City, as well as by the HCMC People’s Committee. Some 20 policy makers and leading experts at home and abroad from the digital economy industry, together with 500 guests from ministries, organizations and enterprises, are expected to join this event. The Fourth Industrial Revolution has been impacting the structures that make up the foundations of the global economy and society. Every day, millions of people benefit from innovative products and … [Read more...] about BUSINESS NEWS IN BRIEF 1/11