Vietnam has moved up 10 places in the rankings on the ease of doing business to 78 among 183 economies in the 2011 Doing Business Report. The report, jointly announced on Nov. 4 by the World Bank and the International Finance Corporation (IFC), said that Vietnam is the second nation after China in East Asia that has made consecutive improvements in its business environment over the past five years. The report also revealed that with the one-door policy, Vietnam's reform has focused on business establishment, taxation, construction permits and access to credit over the past year. … [Read more...] about VN climbs ladder in business rankings
Business
MoIT to support steel businesses
The Ministry of Industry (MoIT) will continue to support local steel enterprises this year in their production and business, especially use of trade defence measures protecting the domestic steel industry.The domestic steel industry in 2017 saw growth in production and business, with many factories going into production to meet domestic demand and export, the ministry said.To support the steel industry this year, the ministry will continue to apply trade remedies in accordance with WTO rules and free trade agreements between Viet Nam and its partners to protect the industry from the competitive pressure of imported steel products.The ministry will also direct enterprises to monitor closely the market at home and abroad for ensuring suitable business plans. The enterprises must enhance consumption of products, reduce inventory, maintain production and business activities, ensure enough raw materials for production and promote brand advertisement.Nguyen Van Sua, deputy chairman of the … [Read more...] about MoIT to support steel businesses
Japanese bank expands business in Vietnam
Japan's Sumitomo Mitsui Banking Corporation (SMBC) is striving to expand business in Vietnam through its local partner - the Vietnam Export-Import Bank (Eximbank). The Japanese daily Nikkei reported on Sept. 14 that Sumitomo Mitsui Financial Group, a subsidiary of SMBC, sent retail experts to Vietnam in June to assist Eximbank, with the hope of doubling the number of banking accounts by the end of this year. Additionally, Eximbank will open more transaction offices and increase the number of automatic telling machines (ATMs) at industrial zones which accommodate many Japanese companies. … [Read more...] about Japanese bank expands business in Vietnam
Asia-Europe Business Forum comes to an end
(VOVworld) - The 13th Asia-Europe Business Forum (AEBF-13) closed in Vientiane, Laos, on Monday after 2 days. Themed "Caring for the Earth for Sustainable Economic and Business in Asia and Europe", the two-day forum discussed the current trends and the future of economic and business ties between Asia and Europe. They also debated prospects for growth in both continents, effective state policies and facilitating trade and investment on in the two regions. Also on the agenda was financial access, challenges on environment, food and energy security, and the sustainable management of natural resources, markets. The links between Europe and Asian sub-regions with the Mekong Greater Sub-region was also focused on. The Presidential Statement released at the closing ceremony called for parties involved to strengthen cooperation to for sustainable development in the two continents and the world at large as the global economy is still dealing with consequences of the 2008 global financial … [Read more...] about Asia-Europe Business Forum comes to an end
PepsiCo sells 51 percent stake in Vietnam business
PepsiCo said Japanese beverage company Suntory Holdings Ltd will acquire a 51 percent equity stake in the company's beverage business in Vietnam. Suntory and PepsiCo will hold key roles in the management of the new joint venture, in which the US beverage company will hold the remaining 49 percent stake. … [Read more...] about PepsiCo sells 51 percent stake in Vietnam business