Business forum

At the event (Photo: VNA) HCM City (VNA) – Investors from the Republic of Korea (RoK) in Ho Chi Minh City are facing a number of bottlenecks related to labour regulation and administrative procedures that need to be promptly removed, heard a June 24 dialogue between the municipal leaders and the business community. The collection of seaport infrastructure fees was also pointed to by many participating businesses. From April 1, 2022, all container vehicles entering and leaving the city’s Cat Lai port have to pay an additional fee for using seaport infrastructure. Korean firms proposed the establishment of a monthly gross payment process and a reduction of the fee, given their difficulties from increased logistics costs. Phan Van Mai , Chairman of the municipal People’s Committee, said the southern economic hub is working to recover after two years affected by the COVID-19 pandemic. Such recovery sees a significant contribution of the business communities, including … [Read more...] about HCM City works to clear hurdles for RoK investors

Nguyen Anh Duong, Director of the Hanoi Promotion Agency (HPA) – the organiser of the event (Photo: VNA) Hanoi (VNA) - A festival promoting the sale of farm produce and handicrafts, recognised by the One Commune One Product (OCOP) programme, in association with tourism opened in Hanoi on June 24 evening. Speaking at the opening ceremony, Nguyen Anh Duong, Director of the Hanoi Promotion Agency (HPA) – the organiser of the event, said that the festival is an opportunity for businesses to popularise their brands, products, and agricultural models associated with ecotourism to visitors and consumers in the capital city, thus contributing to improving brand value, preserving traditional craft villages, and diversifying OCOP products associated with local tourism. Delegates cut ribbon to kickstart the festival (Photo: VNA) The festival comprises 73 booths, including 20 of businesses from other localities across the country. Many activities held on the … [Read more...] about Festival on OCOP products associated with tourism underway in Hanoi

Delegates cut ribbon to open Hue Festival Trade Fair (Photo: VNA) Thua Thien-Hue (VNA) – A trade fair within the framework of the 2022 Hue Festival opened in the central province of Thua Thien-Hue on June 24 evening, offering a good chance for businesses in the province and other localities nationwide to step up trade promotion and investment cooperation . Vice Chairman of the provincial People's Committee Phan Quy Phuong said that, after 10 editions since 2000, the Hue Festival Trade Fair has gradually affirmed its position and professionalism and improved in terms of quality and the number of participants. It has created a change in the “Vietnamese people prioritise Made-in-Vietnam product” movement and created a push to promote and expand export markets, and increase competitiveness in the international economic integration, added Phuong. This year’s fair comprises over 350 booths of more than 200 enterprises showcasing agro-forestry-aquatic products, … [Read more...] about Hue Festival Trade Fair connects Vietnamese localities

A corner of HCM City (Photo: VNA) HCM City (VNA) – The number of businesses in Ho Chi Minh City amounted to 216,170 in 2021, up 26.2 percent from 2016, according to the city’s economic census for last year. Of the total figure, there were 270 State-owned enterprises, down 22.9 percent from 2016. By contrast, the numbers of non-state and FDI enterprises were at 208,609 and 7,291, up 25.1 and 75.2 percent, respectively. The decrease of state-owned firms during this period reflected the policy of the Party and State in arranging, transforming, and equitising the group in order to improve their role and business production efficiency. Among localities, Thu Duc city posted the highest number of operating companies, at 30,729, followed by District 1 (18,184 firms), Tan Binh district (16,745), and Binh Tan district (15,333). According to the municipal Statistics Office, recent years saw an increase in the number of enterprises and an increasing trend of shifting … [Read more...] about HCM City’s number of firms grows over 26 percent from 2016

A worker produces anti-counterfeit stamps at Tien Duong Organic Agricultural Cooperative in Hanoi (Photo: VNA) Hanoi (VNS/VNA) — Despite production and market difficulties due to the pandemic and climate change, many districts, firms and organisations in Hanoi 's agricultural sector have remained strong thanks to the application of science and information technology. It has helped them improve their products’ value and meet the technical requirements of import markets. In the past few years, Hanoi’s agriculture sector has implemented many programmes and solutions to support businesses and cooperatives to promote the application of information technology in the production and processing of agricultural products, which have brought many benefits, such as increasing the product value, food safety management and product information transparency. Tran Sy Hung, Director of Nghia Minh Mushroom cooperative in Dan Phuong district, said his cooperative had applied information … [Read more...] about Hanoi applies IT to enhance value of agricultural products

The US, China, and the EU remain the three largest markets for Vietnamese cashew, accounting for 26.8 percent, 17.7 percent, and 20.5 percent of the total export value of the cashew industry of Vietnam, respectively. Cashew nut exports to the US market declined by 10.1 percent in volume and 30.5 percent in value over the same period last year. Cashew nut exports to the EU market surged by 14 percent in volume but dropped by 21.2 percent in value. Cashew nut exports to China jumped by 136.4 percent in volume and 140.2 percent in value. Meanwhile, Vietnamese cashew processing enterprises imported 480,000 tons of raw cashew in April, spending up to $772 million, a sharp increase of 375 percent in volume and 470.5 percent in value compared to that in April last year. In the first four months of this year, Vietnam imported a total of 1.19 million tons of raw cashew, with a value of up to $1.88 billion, up 300 percent in volume and 323.5 percent in value over the same period last year. … [Read more...] about Vietnamese cashew industry sees trade deficit for the first time

Khai congratulated the Cambodian Government on the important achievements obtained under PM Hun Sen’s leadership, especially the success in COVID-19 containment and socio-economic reopening and recovery. Men Sam An, who is also Minister of the National Assembly - Senate Relations and Inspection of Cambodia, Vice President of the Cambodian People’s Party, and Chairwoman of the Cambodia - Vietnam Friendship Association, expressed her honor to represent the Cambodian Government to attend and deliver remarks at the ceremony marking the 55th founding anniversary of the countries’ diplomatic ties held in Hanoi earlier the same day. Saying she is impressed with Vietnam’s all-round attainments over the past years, she expressed her belief that under the clear-sighted leadership of the Communist Party of Vietnam, the Vietnamese Government and people will continue reaping more successes in national reforms and development and unceasingly promoting Vietnam’s stature in the international … [Read more...] about Deputy PMs agree on measures for strengthening Vietnam-Cambodia links

Illustrative photo (Source: vneconomy.vn) Hanoi (VNA) – Enterprises are gradually switching to an electronic documentation system , underpinning the nation’s efforts to develop the digital economy . A survey conducted by the Ministry of Industry and Trade in 2021 revealed that at least 33% of the surveyed businesses use e-contracts in their commercial activities. The application not only helps firms and their customers be more efficient, but also contributes to reducing the impact of the COVID-19 pandemic and the gap in commercial transactions. The Bkav DX Platform has hosted e-contracts for more than 3 years. As a result, it helped companies save 70% of printing and delivery costs annually and shortened the process of providing products to customers by 50%. A representative of FPT Information System Company said that in Vietnam, the concept of e-contracts is no longer new. On the FPT.eContract – a signing platform between businesses and individuals – there are more … [Read more...] about Electronic documentation system fundamental to digital economy

The president of the Korean Chamber of Commerce in Vietnam (KOCHAM) has asked the Ho Chi Minh City government to assist South Korean enterprises in alleviating their cost burden in the current difficult period. KOCHAM President Shon Young Il made the request at a dialogue session between the city government and South Korean enterprises, held on Friday by local authorities in coordination with the Consulate General of South Korea in the southern metropolis. Speaking at the event, chaired by the municipal People’s Committee chairman Phan Van Mai, the KOCHAM leader said Korean businesses are facing a lot of pressure while trying to recover from the COVID-19 pandemic and cope with impacts caused by the ongoing Russian-Ukraine military conflict and the inflation risk. Therefore, he hopes that the Ho Chi Minh City administration can support Korean businesses in reducing their cost burden in this tough period. Specifically, local authorities should assist Korean businesses in solving … [Read more...] about S. Korean firms in Ho Chi Minh City seek help to ease rising cost burden

She said that Vietnam and Hungary have shared a 72-year partnership and traditional cooperation in all fields including education-training, law and justice, culture, sports, and people-to-people exchanges. The diplomat noted that Hungary considers Vietnam an important partner in Southeast Asia, and the two countries lifted their ties to a comprehensive partnership in September 2018. The parliaments of the two countries have also kept a good relationship with regular meetings and exchanges at all levels, while showing close and effective cooperation and mutual support at multilateral parliamentarian forums, she said. According to Ambassador Thao, the Vietnamese top legislator's visit will be a chance for senior leaders of Vietnam and Hungary to reaffirm their political commitments in continuing to promote the bilateral partnership, contributing to the economic recovery and sustainable development after COVID-19 in each country, while strengthening collaboration in global issues … [Read more...] about N.A. Chairman’s visit to deepen ties with Hungary in post-pandemic period: Ambassador