Japanese local store

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

Soc Trang Province's OCOP products showcased at the workshop. — VNA/VNS Photo The One Commune One Product (OCOP) scheme has encountered a challenge in promoting local products, as producers face difficulties getting their products into local supermarkets, let alone big retail systems in major cities. According to the Department of Industry and Trade of the northern province of Vinh Phuc, statistics reveal that the province currently boasts 105 OCOP products. Among them, 26 products meet the four-star OCOP standards, 79 products meet three-star OCOP standards and many other high-quality traditional products. Many of these products are exported. However, a representative of the provincial Department of Industry and Trade told Dai Doan Ket (Great Unity) newspaper that although OCOP products were of high quality and high economic value, which met the requirements of standards and regulations on goods as prescribed, they still had no place in retail supermarkets and stores. … [Read more...] about OCOP products struggling to reach domestic supermarket shelves

A view of Bach Long Vy district from above. (Photo: VNA) Hai Phong (VNA) – Bach Long Vy, Vietnam’s most remote island in the Gulf of Tonkin, about 110km from the northern port city of Hai Phong 's mainland, has been given a facelift following its 30 years of development . The island has a special strategic position in terms of national defense , security and maritime economy. On November 18, 1992, the Prime Minister signed a decision to establish it as a district of Hai Phong. In March 1993, the first contingent of temporary district officials left the mainland to the island to perform their duty. Back then, the island was deserted without civil infrastructure facilities. Life there was hard and heavily depended on the mainland. Secretary of the district’s Party Committee Tran Quang Tuong said with the attention of the Party and the State, the local authorities and people have overcome myriad difficulties to develop the locality. According to him, an … [Read more...] about Bach Long Vy island sees outstanding developments in three decades