VietNamNet Bridge - "How much did Vietnam have to trade off to join the Trans-Pacific Partnership (TPP) and the Vietnam-EU Free Trade Area (FTA)? Surely, we will have to pay dearly for them when the tax rate falls to zero percent," said Prof. Nguyen Mai, Chairman of the Vietnam Association of Foreign Invested Enterprises (VAFIE) at a recent seminar. Prof. Mai said Vietnam has recently promoted the TPP too much, but it remains a big question when the TPP will take effect. The VAFIE Chairman said many people believe that Vietnam is becoming the world’s factory, but he wondered how Vietnam can become its factory with its current way of production. He also expressed concern about the perception of global integration of officials and entrepreneurs at the local level. "How foolish is it to let foreigners be the main beneficiaries in the Vietnamese market? Who instructs Vietnamese private businesses to benefit from the TPP?" he asked. He also cited the statistics of investment of … [Read more...] about TPP – what is the cost for Vietnam?
Exporting used cars from usa
VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6
Thanks to blue dragon trees, thousands of households in the Mekong Delta of Vietnam have had money to build big houses and buy cars… Mr. Phan Van Nguyen, 50, in Cho Gao district, Tien Giang province is an example. Nguyen said his family had planted rice for three generations but they could not get rich with rice. He was among the pioneers who planted blue dragon trees in Cho Gao district. After learning experience from blue dragon farmers in other provinces, Nguyen decided to devote his two hectares of rice fields to blue dragon in 1992. Nguyen still remembered his first blue dragon season. His field was covered in red color. He earned a profit of tens of millions of dong that year, which was huge to a farmer's household at that time. After that, his neighbors began planting blue dragon, learning experience from Nguyen. Blue dragon trees can live for over ten of years. They yield fruits continuously. The fruits are ripening averaging 10-15 days. Nguyen said that at the … [Read more...] about In blue dragon gardens of millionaires (photo)
British investments in Vietnam to surge: diplomats British diplomats have painted a bright future for trade and investment between the United Kingdom and Vietnam as major investments and commercial deals by companies from their country have started coming or are in the pipeline. The new achievements were highlighted by Kate Harrisson, deputy head of Mission at the British embassy in Vietnam, and British Consul General Tim Brownbill at their meeting with reporters in HCMC on Tuesday, or more than a year after the two sides inked strategic partnership. Brownbill, who is also director of the UK Trade and Investment in Vietnam, put the UK investments in Vietnam at US$2 billion and expected the number to exceed US$3 billion by the end of next year. Harrisson confirmed UK investors were very keen to come to Vietnam and a number of British companies were very active in this country. Brownbill named a list of areas in this country attractive to British investors, from oil exploration … [Read more...] about BUSINESS IN BRIEF 31/10
Labor-intensive firms to benefit from tax payment delays Enterprises employing more than 300 workers and cooperatives in certain sectors will have their 2011 tax payments delayed for one year, according to a prime ministerial decision. Decision 54/2011/QD-TT inked by the Prime Minister last week following a Ministry of Finance proposal is aimed at helping enterprises cope with current tough market conditions such as high inflation and high interest rates. In addition to labor-intensive businesses, cooperatives in sectors such as agriculture, forestry, aquaculture, textiles, footwear, electronic components, and infrastructure construction will not have to pay 2011 taxes until next year. The taxes whose payment can be delayed from the end of next month should be roughly calculated every quarter and declared in the firm's tax statements for 2011, excluding the tax on incomes from other activities than business and production. Tax payments in Q1 will be rescheduled to … [Read more...] about BUSINESS IN BRIEF 26/10