Oslo chamber of commerce

Chairperson of the Indonesian Chamber of Commerce and Industry, Arsjad Rasjid (second from right), at the press conference. (Source: ANTARA/Ade Irma Junida/uyu) Jakarta (VNA) - The Indonesian Chamber of Commerce and Industry (Kadin), which is chairing the 2023 ASEAN Business Advisory Council ( ASEAN-BAC ), is about to introduce seven legacy breakthroughs on five priority issues during the country’s ASEAN chairmanship this year. Antara news agency of Indonesia reported that the Kadin chairperson, Arsjad Rasjid, unveiled the information at a January 30 press conference on the “ASEAN-BAC Chairmanship Handover Ceremony 2023” (from Cambodia to Indonesia). Three of the seven legacies involve digitisation programmes that focus on fintech and e-trade, namely the ASEAN QR (Quick Response) Code, the ASEAN P2P (peer-to-peer) Lending Platform, and WIKI Entrepreneurship. Rasjid said that Kadin is collaborating with all central banks in ASEAN countries for the QR code … [Read more...] about Indonesia to introduce ASEAN breakthroughs on fin-tech, e-commerce

Illustrative image (Photo: NNT) Bangkok (NNT/VNA) - Thai and Chinese tourism firms are now collaborating to issue tourism promotion campaigns to attract Chinese travelers to Thailand. This comes after China approved tour agencies’ operation of group tours in 20 nations from February 6 onward. Meanwhile, the Thai Chamber of Commerce in China indicates that the number of Chinese travelers arriving in Thailand could potentially reach 10 million this year. Thai Chamber of Commerce in China Secretary-General Phaichit Viboontanasarn said the Chinese government authorizing tour agents to operate group tour services will greatly benefit Thai tourism. He said the development will result in Chinese tourists returning faster and with greater intensity than earlier expected. Phaichit said Thai and Chinese group tour agencies are discussing holding a tourism fair by mid-February. The event will also host discussions between high-level tourism officials from Thailand and China. … [Read more...] about Thai, Chinese private sectors collaborating to attract Chinese holidaymakers to Thailand

Vo Van Hoan, Vice Chairman of the People’s Committee of HCM City addresses the event (Photo: VNA) HCM City (VNA) – Ho Chi Minh City is an attractive destination with numerous opportunities for foreign investors, including those from Hong Kong (China), heard the Hong Kong - Ho Chi Minh City Investment & Business Forum and Networking Dinner held in the city on January 12. More than 300 participants attended the conference (Source: Organisers) As of the end of 2022, Hong Kong investors run 619 direct investment projects worth 3.23 billion USD in the city, accounting for 5.79% of the total FDI the city attracted in the year, mostly in manufacturing-processing and real estate. An overview of the event (Source: Organisers) With around 10 million population and the growth of the middle class, Ho Chi Minh City is a huge and potential market for businesses. Dr. Jonathan Choi, Chairman of Chinese General Chamber of Commerce, Chairman of Hong Kong - Vietnam Chamber … [Read more...] about HCM City an attractive destination for Hong Kong investors: forum

Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau. (fifth, right) and representatives from Viet Nam and Hong Kong attend the Vietnam and Hong Kong - Guangdong - Macao (China) partnership business forum. — Photo courtesy of the Hong Kong Commerce and Economic Development Bureau Viet Nam is always a very good business partner of Hong Kong (China), and the two sides have maintained effective trade and investment ties over the past years, according to Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau. Trade between Viet Nam and Hong Kong grew 11.8 per cent each year during the 2017-2021 period. In 2021 alone, the value reached 220 billion HKD (US$28.1 billion), up 19 per cent year-on-year. Hong Kong is the fifth largest trade partner of Viet Nam, while Viet Nam is the seventh largest trade partner of Hong Kong, and the second biggest among the ASEAN countries, only after Singapore. The two-way trade in the first half of 2022 stood at … [Read more...] about Viet Nam remains good business partner of Hong Kong: official

Eunjung Han - Consultant, Rouse Legal Vietnam; Digital Sector Committee vice chairwoman, European Chamber of Commerce in Vietnam The timing of Decree 53’s issuance was fitting given the government had unveiled the National Cybersecurity and Safety Strategy the same month as a response plan to cyberspace challenges until 2025 with vision towards 2030. The agenda of this strategy includes tasks, among others, of completing the relevant local legal framework. Decree 53’s issuance is also correlated to the National Digital Transformation Programme’s goals and relevant efforts currently underway, such as updating laws on e-transaction, IT, and telecommunications, as promoting technologies that facilitate and accelerate digital transformation depends greatly on the security of cyberspace and handling existing, imminent, and potential risks. The Law on Cybersecurity was passed in mid-2018 with an effective date of January 2019. It garnered international attention not only because it … [Read more...] about Data localisation regulations in need of further guidance

Containers at Sai Gon New Port, a major port of Viet Nam. — VNA/VNS Photo Hong Dat New-generation free trade agreements (FTAs) continue to be a silver lining in Viet Nam's trade growth targeting US$1 trillion in import-export revenue by 2025. The country's trade surpassed the milestone of $700 billion in value to hit $73.5 billion in 2022, a rise of 9.5 per cent against the same period of the previous year, according to the updates of the General Statistics Office. Of the figure, exports rose by 10.6 per cent, while imports by 8.4 per cent. With a trade surplus of nearly $11 billion this year, Viet Nam registered a trade surplus for seven years in a row which contributed significantly to the balance of payments, improving foreign exchange reserves, stabilising exchange rates and other macroeconomic indicators, Deputy Minister of Industry and Trade Tran Quoc Khanh said. Thirty-nine products joined the club of over a billion US dollars in export revenue, nine of which had … [Read more...] about FTAs a silver lining for economic growth

The RCEP accounts for over a quarter of global exports, photo Le Toan On January 2, the Regional Comprehensive Economic Partnership (RCEP) took effect for Indonesia. The preferential tariffs under the deal can now be used by the private sector who are exporting to and/or importing from Indonesia, according to the ASEAN Secretariat. In a release issued by the Indonesian Ministry of Trade, Minister Zulkifli Hasan said that the RCEP is expected to increase competitiveness and strengthen global production network, promote regional supply chain through better market access for exports of goods and services, reduce or eliminate trade barriers, and enhance transfer of technology. “The entry into force of the RCEP is timely to mark the beginning of Indonesia’s ASEAN Chairmanship in 2023. Indonesia has been the driving force in the deal since the conceptualisation phase, and we hope more milestones, such as the establishment of the RCEP Support Unit, can be achieved during Indonesia’s … [Read more...] about RCEP boosting like-minded vision among bloc members

The EU–Vietnam Free Trade Agreement (EVFTA) is an ambitious free trade pact, which the EU has ever concluded with a developing country, seeking to eliminate import tariffs by up to 99 per cent of the tariffs and trade flows between the two sides. Local authorities should recognise the necessity for developing a consumer protection system, photo Le Toan Since the enforcement of the EVFTA, Vietnam-EU relations have undergone a spectacular growth in trade turnover. Over two years of implementation, Vietnam’s export value to the EU reached nearly $83.6 billion, while the country ranked second among the EU’s biggest trading partners in ASEAN. The new-generation trade agreement also contributed to accelerating Vietnam’s structural transformation, with an increasing share of industrial and service sectors in economic activities. The country’s export basket has gradually shifted from primary products to light manufacturing ones such as electronics, textiles, footwear, and … [Read more...] about Maximising the benefits of EVFTA

Trade between Vietnam and Korea surged by almost $9 billion This import-export total is less than the approximately $1 billion that Korea's Ministry of Trade, Industry, and Energy (MOTIE) recently reported. During this period, Vietnam's exports to this market increased by 10.2 per cent, while imports increased by 11 per cent, and the country's trade deficit with Korea remained at $38.3 billion. Vietnam is implementing three free trade agreements (FTAs) with Korea, which is a substantial boost for Vietnamese products seeking to enter the Korean market. Noteworthy is the Vietnam-Korea Free Trade Agreement (VKFTA), which went into force at the end of 2015 and is producing considerable benefits for import and export operations by using the preferred tariffs of businesses in the two countries. After more than six years of VKFTA implementation, bilateral commerce between Vietnam and Korea has steadily increased. Statistics from the MOTIE show that bilateral commerce between … [Read more...] about Trade between Vietnam and Korea surges by $9 billion

Choi, who is also Chairman of Sunwah Group, said that Sunwah has enjoyed many successful projects in Ho Chi Minh City since it arrived in Vietnam from the 1970s. He said the firm is expanding its investment in Vietnam to science-technology and innovation, and hopes to introduce more Hong Kong investors to Ho Chi Minh City. As the Chairman of the Chinese Chamber of Commerce in Hong Kong and Chairman of the Guangdong - Hong Kong-Macau Greater Bay Area Entrepreneurs’ Union, Choi spoke highly of the potential of the Ho Chi Minh City's market, describing the city as an ideal destination for Hong Kong investors, especially in financial service, stock, farm produce export, and green technology development. According to Choi, the city is in need of developed science-technology and innovation, and Hong Kong, as a connecting center, is willing to support the city in calling for more capital serving the development needs of the city and Vietnam as a whole. Along with traditional … [Read more...] about Ho Chi Minh City welcomes investors from Hong Kong: Official