Business intelligence news

The country expects to surpass Bangladesh to become the second largest textile and garment exporter to the world market after the EVFTA comes into effect. — Photo baodautu.vn Nguyen Hai Minh, EuroCham vice chairman, said the EVFTA has taken effect from August 1, but only 2 per cent of 8,600 local enterprises know the details of this FTA and about 20 per cent of them know about the agreement at all. The important thing is that they must really understand the content of this agreement and its conditions. … [Read more...] about VN businesses slow in preparing to enjoy preferential tariffs in EVFTA

“Some businesses say that if they buy the materials from eligible suppliers with higher prices to enjoy tariff preferences, it still won't be as profitable as buying materials from China to enjoy the tariffs according to the EU's Generalised scheme of preferences (GSP) at present. … [Read more...] about Local businesses slow in preparing to enjoy preferential tariffs in EVFTA

As a multisector firm, Sao Mai has achieved significant growth in the aquaculture, tourism, solar power and real estate sectors. It has recently started work on the Sao Mai Tay Cai Dau new urban area project, which requires over VND1.2 trillion in investment and 62 hectares of land. … [Read more...] about Sao Mai Group reports outstanding business performance in Q2

Hanoi (VNA) - Three subsidiaries of the State-owned Vietnam Oil and Gas Group (PetroVietnam) signed a business cooperation contract (BCC) on August 3 to carry out a chain of gas, power, and service port projects. The three are the PetroVietnam Gas Joint Stock Corporation (PV Gas), the PetroVietnam Power Joint Stock Corporation (PV Power), and the PetroVietnam Technical Service Joint Stock Corporation (PTSC). PTSC General Director Le Manh Cuong said the contract is to implement a chain of gas, power, and service port projects on the basis of business performance-based risk and profit sharing along with the optimisation of financial resources, personnel, and technical infrastructure. In the first phase, the three companies will invest in new infrastructure to supply re-gasified liquefied natural gas (LNG) to the Nhon Trach 1 and Nhon Trach 1A power plants. They will continue to consider investment in the Nhon Trach 5 power project in the second phase, with an expected capital … [Read more...] about PetroVietnam subsidiaries ink deal on projects

“For the textile sector, the value of apparel exports decreased by 2.3 billion USD in the first half of 2020. Meanwhile, the electronics sector achieved higher export value. In the global industrial manufacturing market, the growth of the textile industry decreased by 7 percent compared to the same period last year, while the electronics sector increased by nearly 3 percent.” … [Read more...] about VN textile, electronics hardest hit in pandemic: official