The proposed tariff cut is aimed to balance bilateral trade relations. The US has requested Vietnam to cut its import tariffs on a number of agricultural products in 2020 and afterwards, according to Vietnam’s Ministry of Finance (MoF). The items subject to tariff reduction include chicken and processed chicken meat, almond, grape, wheat, pork, potato, among others, aiming to balance bilateral trade relations. A reduction of import tariffs on these products would be included in the government’s revised Decree No.125 on amendments to certain articles of Decree No.122 on export duty schedule, preferential import duty schedule, and lists of commodities and their flat tax rates, compound tax rates and outside tariff quota rates. Specifically, tariff on chicken and processed chicken meat is proposed to be cut from the current 20% to 14.5% in 2020, and 0% in 2028. The US also requested Vietnam to reduce tariffs on fresh apples and grapes to 0% in 2020 while the tariffs on wheat, … [Read more...] about US asks Vietnam to cut import tariffs on agricultural products
Driving in vietnam
Three young Vietnamese women were lauded for their effort by former U.S. First Lady Michelle Obama when they met in the southern province of Long An on Monday. The meeting at Can Giuoc High School in Long An was part of Obama’s trip to Vietnam with American actress Julia Roberts to spotlight girls’ education on behalf of the Obama Foundation’s Girls Opportunity Alliance. They were joined by Vietnamese-American actress Lana Condor, Vietnamese actress Ngo Thanh Van, American news personality Jenna Hager, and American actress Liza Koshy. A video published on Michelle Obama's verified Facebook account on December 9, 2019 about her trip to Long An, Vietnam the same day. At the event, Obama and Roberts listened to the life stories of the Vietnamese women who were the scholarship winners of Room to Read, a program that works to help female students pursue education. The former first lady praised the young women for their effort in overcoming hardship in life to gain … [Read more...] about Who are the women Michelle Obama praised in Vietnam?
Vingroup JSC is looking to raise as much as $2 billion from the listing of its residential property business in what could be Vietnam’s biggest initial equity offering, sources familiar with the matter said on Tuesday. The fund raising, double than what sources had estimated last month, comes as foreign and local investors pour money into the country, attracted by a strong economic growth and a slew of sales by state-owned and private companies. A couple of units of Vingroup are keen to sell down and raise funds through the equity offering, said two sources, who did not want to be named as they were not authorized to speak about the matter as the details are private. Vingroup, Vietnam’s biggest property developer, expects to kick off roadshows later this month and price the equity offering in mid-March, the sources said. Vingroup declined to comment on the share sale but said in a statement earlier in the day that Vinhomes filed an application this month to list its shares … [Read more...] about Vingroup could raise as much as $2 billion in Vietnam’s biggest share sale: sources
Experts believed that the government’s decision on increasing foreign holding will be a springboard for foreign investors to penetrate into the Vietnamese burgeoning market. The Vietnamese aviation market is expected to undergo significant changes next year as the government opens up more room for foreign investors in the industry amid share sale plans of domestic airlines. Under new regulations on the conditional business lines in the aviation sector, effective from January 1, 2020, Vietnam will raise the foreign ownership limit in domestic air carriers to 34% from the current 30%. Analysts from Ho Chi Minh City Securities Corporation forecast that Vietjet would be the first airline to reach the new foreign holding limit as the budget airline seeks a strategic partner by 2020. A higher foreign holding ratio will be also expected at Vietnam Airlines that will have to unload 35.19% of state holding in order to reduce state ownership to 51% from the current 86.19% under the … [Read more...] about Foreign investors grasp more control overn Vietnam’s aviation market
Vietnam’s head coach Park Hang-seo (right) and Indra Sjafri of Indonesia at the press conference ahead the final match of men’s football category of the SEA Games. — VNA/VNS Photo Hoang Linh The final at Rizal Memorial Stadium, Manila kicks off at 7pm today (Hanoi time). In the semi-finals on December 7, Vietnam beat Cambodia 4-0, while Indonesia defeated Myanmar 4-2 after extra time. The final will be Vietnam's first in 10 years in a competition Vietnamese fans are still waiting for a title. “The whole team are only one step from the SEA Games’ gold medal. Fans, training board as well as Vietnamese footballers can be proud of what Vietnam did at this year’s event,” said coach Park at a press conference in the Philippines. “Prime Minister Nguyen Xuan Phuc also sent a message to encourage and support the team. We will do everything we can to take gold medal. We will fight with all our hearts,” said Park. The veteran coach … [Read more...] about Games glory awaits Vietnam: coach Park