The high production costs, taxes and fees all make automobile prices in Vietnam much higher than in other countries in the region. At the government’s November regular press conference, the local press raised questions about the tax and fee policies, saying that automobile manufacturers complain about current policies put difficulties for them to compete with imports and increase the localization ratio. Deputy Minister of Industry and Trade Do Thang Hai said the car prices in Vietnam are higher than inother countries because the domestic production cost is higher. The high taxes and fees also push the prices up. VinFast, a 100 percent Vietnamese owned automobile manufacturer, days ago announced the automobile price structure. A VinFast Lux A2.0 standard version has the cost price of VND980.6 million, including VND640 million worth of materials, VND59.2 million worth of shipping fee and import tax, VND54 million worth of manufacturing cost, VND5.9 million worth of … [Read more...] about When will cars in Vietnam be cheaper?
Hoang Anh Gia Lai (HAGL) says it has approved the sale of a 99.4 percent stake in Hoang Anh Gia Lai Hydropower JSC to a Laotian company. HAGL Hydropower owns Nam Kong 2 and Nam Kong 3 plants in Laos’s southeastern Attapeu Province, with a combined capacity of 111 MW. The unfinished projects cost a total of VND3.4 trillion ($146.84 million) by the end of last year, with Laotian energy company Chaleun Sekong Group having paid an acquisition price of VND2.26 trillion ($97.6 million), or 66.5 percent, in September. HAGL has not revealed business results from its hydropower projects in recent years, the latest revenue figures at VND122 billion ($5.27 million) in 2013, only 5 percent of the total. The announcement follows earlier divestment moves by the former real estate giant to focus on fruit production. HAGL Group posted a revenue of VND1.48 trillion ($63.92 million) in the first nine months, against an accumulative loss of VND1.27 trillion ($54.85 million). … [Read more...] about HAGL divests from hydropower for farming reroute
The stock market these days is beset with anxiety and cautiousness. Investors cannot predict how the stock prices while foreign investors sell more than buy. The VN Index has dropped from 1,025 points to below 960 while investors complain their accounts have undergone big losses. The VN Index has dropped from 1,025 points to below 960 while investors complain their accounts have undergone big losses. With the spells of correction which occurred later, many shares continued falling in price. Even the investors holding bluechips also suffered. With foreign cash stay in Vietnam? Kim Chi VN stocks to head up in December, trade war concerns expected After having declined for four straight weeks, the Vietnamese market may rebound in December as analysts and securities companies expect that cheaper shares will attract hungry investors amid the world’s volatility. Proposal to merge Hanoi and Ho Chi Minh City stock exchanges on hold The proposal to merge … [Read more...] about Stock investors turn more cautious after taking loss
At the opening ceremony, Mr. Nguyen Thanh Phong, chairman of HCMC People’s Committee, said that industrial processing and manufacturing industry is considered as key economic industry of the city. The city has implemented several solutions to support and create favorable conditions for enterprises in this field to develop. Of which, investment stimulation program is for supporting industry sector only, hereby helping enterprises to invest in upgrading machinery and equipment and improving competitiveness. However, he also said that, in order to participate deeply and sustainably into global supply chain, domestic enterprises need to improve productivity, upgrade technology towards environmental protection. The city will increase activities to promote and connect supporting industry enterprises in the city with end-to-end and foreign direct investment enterprises to create conditions and opportunities for the city’s supporting industry to develop. So far, the city has … [Read more...] about HCMC supporting industry seeks market, cooperation
27-year-old French photographer Joseph Gobin has been inspired by modest iced tea stalls on the street of Hà Nội to create his photo collection. — Photo courtesy of Mai Suong Lương Thu Hương Vibrant Hà Nội has charmed many foreigners with its various unexpected aspects, and Frenchman Joseph Gobin is just the latest example. Modest iced tea stalls on the streets of the capital have become the subjects of his recent project. Gobin’s photos capture the similar moments and objects in every iced tea stall in Hà Nội that are normally unnoticed, like an iced tea stall covered with a shabby canvas at night, a pitcher placed by the wall, a close-up of a lighter placed on a plastic chair or the smiling but pensive faces of the customers. His works are on display at the exhibition Another City: Public, Private, Secret at the French cultural institute L’Espace in Hà Nội. The exhibition … [Read more...] about French photographer tells stories of street tea in Hà Nội