Oslo chamber of commerce

A yarn factory in the southern province of Long An (Photo: VNA) Hanoi (VNA) – Many French and Italian businesses have expressed their high appreciation of the Vietnamese Government ’s measures to help firms surmount pandemic-caused difficulties. The latest survey of 63 French companies conducted by the French Chamber of Commerce and Industry in Vietnam (CCIFV) shows that some additional measures issued by the Vietnamese Government, such as reducing social security contributions and waiving the penalties for late payment, are necessary for businesses to sustain operations, reported the Dau tu (Investment) newspaper. However, longer-term solutions are still needed when it comes to added value tax and corporate income tax, respondents said in the poll. CCIFV Director Adam Koulaksezian told the Dau tu (Vietnam Investment Review) newspaper that they welcome the Vietnamese Government’s issuance of some support measures for enterprises amid the pandemic. A small French …

[Read more...] about French, Italian firms applaud Government’s support measures

Illustrative image (Phto: VNA) Hanoi (VNA) – A webinar themed “Sustainable Businesses Implement Dual Goals” was held on September 9 as part of the 8th Vietnam Corporate Sustainability Forum (VCSF). To adapt to and overcome the COVID-19 pandemic, aside from the Government’s support, each enterprise needs to bring into play their internal strengths and change plans and strategies so as to achieve the dual goals of effectively fighting against the pandemic and sustaining and recovering production and business activities, said Nguyen Quang Vinh, Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI) and Vice President of the VCCI’s Vietnam Business Council for Sustainable Development (VBCSD). He also put forward an initiative to establish a council of enterprise cooperation to respond to COVID-19 , adding that this council will gather the strength of the business community by connecting business associations, related organisations, and the VCCI to join …

[Read more...] about Firms given recommendations to develop sustainably, realise dual goals

A living quarter for workers during the pandemic in an industrial park in southern economic hub HCM City. — Photo nld.vn Vietnamese firms are to continue with the country's dual-target strategy, which consists of a number of measures to limit the spread of the novel coronavirus while at the same time keep operations running, heard an online conference organised by the Vietnam Chamber of Commerce and Industry (VCCI) yesterday. Speaking at the event, Nguyen Quang Vinh, secretary-general of the chamber urged businesses to work together during the pandemic. "Besides support from the government, each and every business must find their own strength to adapt and overcome with the highest priority being how to achieve long-term and sustainable development," Vinh said. The chamber has kickstarted an initiative to help businesses connect, pool experience and resources to overcome obstacles and bounce back stronger once the virus is put under control. …

[Read more...] about Firms to pursue dual-target strategy

Foreign investors maintain confidence in Vietnam’s economy Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year, only 2 percent lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms. Of the investment capital, up to 11.7 percent has been disbursed, up 2 percent as compared with the corresponding time last year. In August alone, 2.4 billion USD was registered, up 65 percent from the previous month, mainly additional capital injected into the processing and manufacturing industry. However, this month’s FDI disbursement dropped 14.3 percent against July and 12.2 percent year-on-year as the social distancing order has been imposed in major economic centres. Budget collection in August also went up 13.9 percent while total spending reduced 5.9 percent year-on-year. According to the World Bank, Vietnam’s economic recovery in the fourth quarter will …

[Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 16

The 18th China-ASEAN Business and Investment Summit (CABIS) was held on September 10-11 in Nanning, Guangxi, China. This year’s CABIS and China-ASEAN Expo (CAEXPO) were held at the same time. The theme of CABIS 2021 is “Sharing Opportunities Created by the New Land-Sea Corridor, Building the China-ASEAN Community with a Shared Future”. The year 2021 marks the 30th anniversary of the establishment of China-ASEAN dialogue relations, the China-ASEAN Year of Sustainable Development, and the 60th anniversary of the establishment of China-Laos diplomatic relations. In this special period, there were 3 events within the framework of CABIS, namely the Round-table Dialogue between the State Leader of Laos and CEOs from China (herein after referred to as the Round-table), the China-ASEAN Business Leaders Forum & Special Meeting on the 30th Anniversary of China-ASEAN Dialogue Relations, and the Symposium on China-ASEAN Commercial Legal Cooperation. These events have comprehensively …

[Read more...] about Fruitful results in 30-year dialogue relations and a new chapter for 18-year CABIS

Hanoi tax authorities collect taxes from Google and Apple content developers The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of this year. The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of 2021. Illustrative photo According to the department, they have collected taxes from 392 people that provide content services on various applications including Google Play and Apple Store. The department have collected VND 203 billion (USD8.83 million) in taxes from these content developers since 2018. The municipal tax authorities are also seeking to collect more taxes from online businesses. They are checking on the information of 32,085 businesses that are using online delivery services and 756 housing rental businesses. The department has co-operated with banks and …

[Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 11

Receipts from taxes are on the decrease, which show that goods consumption and production of enterprises have been hit hard by the Covid-19 crisis. EuroCham’s newly released report on business index during social distancing periods showed that 18 percent of businesses in the manufacturing industry have transferred a part of their orders or production demand to other countries, while 16 percent are considering doing this. EuroCham’s Chair Alain Cany said this was just a temporary decision. However, if social distancing lasts two or three more months, the situation will become more serious. Meanwhile, a survey by the Association of German Chambers of Industry and Commerce (DIHK) of German investors in Vietnam found that 60 percent of businesses confirmed the disruption of supply chains, which has caused serious consequences. Up to 83 percent of businesses said they have suffered from production disruption because goods transport, circulation and consumption have been …

[Read more...] about How long will social distancing last?

Relief measures seek to help businesses resume operations. Photo: Le Toan The latest wave of the pandemic is jeopardising the survival of some French small- and medium-sized enterprises (SMEs) in the country that are failing to cope with the economic slump because they have no legal or financial ties to France. Adam Koulaksezian, executive director of the French Chamber of Commerce and Industry in Vietnam, told VIR, “The Vietnamese government has provided a number of relief measures to support businesses during the pandemic. We applaud this initiative and we invite French companies to try to benefit as much as possible from these mechanisms. However, we must underline that there are sometimes operational difficulties that complicate access to these measures.” The chamber’s latest survey of 63 French companies in Vietnam shows that some additional measures are necessary in order to preserve many businesses. It includes reducing/suppressing social security contributions and …

[Read more...] about Global customers count on continuity

Remote work to become new trend as new normal looms Sun Tropical Village – a newly launched project by Sun Group in the south of Phu Quoc VIMC – the new brand towards sustainable development TCPVN has contributed more than 2 billion VND to support the frontline in Vietnam in the COVID-19 battle Kredivo announces launch of Việt Nam operations as part of ambition to build Southeast Asia’s leading BNPL The China-ASEAN Business Leaders Forum & Special Meeting on the 30th Anniversary of China-ASEAN Dialogue Relations under the framework of the 18th China-ASEAN Business and Investment Summit (CABIS) was held in Nanning, China on September 10. Gao Yan, Chairman of China Council for the Promotion of International Trade (CCPIT) and Director of Organsing Committee of CABIS, and Sun Dawei, Chairman of the CPPCC of China’s Guangxi Zhuang Autonomous Region, attended to the forum and delivered speeches. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce …

[Read more...] about Strengthen the cooperation in coping with Covid-19 and jointly facilitate economic recovery

DestinAsian has honoured Capella Hanoi belonging to Sun Group as the “Best New Hotel in the Asia – Pacific region6" Remote work to become new trend as new normal looms Sun Tropical Village – a newly launched project by Sun Group in the south of Phu Quoc VIMC – the new brand towards sustainable development TCPVN has contributed more than 2 billion VND to support the frontline in Vietnam in the COVID-19 battle The China-ASEAN Business Leaders Forum & Special Meeting on the 30th Anniversary of China-ASEAN Dialogue Relations under the framework of the 18th China-ASEAN Business and Investment Summit (CABIS) was held in Nanning, China on September 10. Gao Yan, Chairman of China Council for the Promotion of International Trade (CCPIT) and Director of Organsing Committee of CABIS, and Sun Dawei, Chairman of the CPPCC of China’s Guangxi Zhuang Autonomous Region, attended to the forum and delivered speeches. Jurin Laksanawisit, Deputy Prime Minister and Minister of …

[Read more...] about Using the Platform of CAEXPO and CABIS to jointly boost Economic Recovery through enhanced pandemic control cooperation