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Trade turnover touches US$100 billion in first quarter Vietnam’s total trade turnover amounted to US$100 billion between January and March 19, according to Vietnam Customs. Recently-released statistics from the General Department of Vietnam Customs show that the country raked in US$10.95 billion during the first half of March, with many export staples enjoying a sharp increase in value. The figure helped to lift the country’s total turnover of exports to US$47.05 billion by March 15, an on-year rise of 5.4 per cent. A number of exports recorded a strong rise in value across the reviewed period. They include telephones and components, garments and textiles, computers, electronic items and components, wood and wooden products, and means of transport and spare parts. Meanwhile, imports reached a total of US$21.3 billion during the first half of March, bringing the total import value to US$93.6 billion by March 15. The figure edged up to US$100 billion by March 19, a surge of … [Read more...] about BUSINESS NEWS IN BRIEF 25/3

Vietnamese firms join world’s largest food, beverage fair in UAE Vietnam pavilion at Gulfood 2018 (Source: laodong.vn) Twenty Vietnamese enterprises will showcase their products at the 24th edition of Gulfood – the world’s largest annual food & beverage trade exhibition – in Dubai, the United Arab Emirates, from February 17-21. The firms include the Vietnam Dairy Products Joint Stock Company (Vinamilk), the Hanoi Trade Joint Stock Corporation (Hapro), the Nafoods Group and the Vietnam Hanfimex Corporation. The Agricultural Trade Promotion Centre under the Ministry of Agriculture and Rural Development will organise the Vietnam pavilion at Gulfood. The event is expected to help Vietnamese enterprises find consumers, sign export contracts and expand their market share in the Middle East, Africa and Southwest Asia. They can also introduce Vietnamese agricultural products, food and beverages and promote Vietnamese brands to foreign visitors, according to the … [Read more...] about BUSINESS NEWS IN BRIEF 14/2

Yeah1 plans to issue shares to raise charter capital      Multi-channel media group Yeah1 has announced a plan to issue nearly 62.56 million bonus shares at the rate of 200 per cent in 2019. Each shareholder will receive two new shares for every share he or she already owns. Bonus shares will be available to trade on the stock market after the issuance date. The share issuance will help Yeah1 triple its charter capital to VND938 billion (US$41.2 million) from its current VND312 billion. The value of the deal is nearly VND625.6 billion and the share issuance funding is taken from the company’s share premium recorded in its audited financial report for 2018. As of September 30, Yeah1 had VND1.13 trillion in its share premium and VND73 billion in undistributed post-tax profit. In the first nine months of the year, Yeah1 recorded VND1.03 trillion in revenue, up 111 per cent over the same period last year, and VND131.2 billion in post-tax profit, up 239 per cent. Yeah1 … [Read more...] about BUSINESS NEWS IN BRIEF 18/12

Enterprise Rent-A-Car to enter Vietnamese market The US’s biggest car rental company, Enterprise Rent-A-Car, will officially offer its services in Viet Nam starting on November 29. The company’s website enterprise.vn is now opening for rental services, with vehicles of five to 29 seats. The prices range from VND800,000 (US$34.19) a day for a Suzuki Vitara to VND2.6 million per day for a Samco bus. Enterprise’s car rental services in Viet Nam (and Asia) are licensed to MP Executives – a subsidiary of MP Group – which has more than 23 years of experience in the logistics industry in Viet Nam. Viet Nam is the first country in Asia to use Enterprise’s car rental service. In addition to providing services in the US, Enterprise is available in 84 other countries. Vingroup opens three technology firms Vingroup’s goal in the next 10 years is to become a world-class technology-industry-service corporation in which technology plays a major role. — … [Read more...] about BUSINESS NEWS IN BRIEF 27/11

Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan.   Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts.  Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10