Paypal restricted activities

Hanoi (VNA) - Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19. Vietnamese companies have proved their capacity in research and development (R&D) and design, according to Chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO) Nguyen Duc Thuan. Signs show that Vietnam is further penetrating into the leather-footwear supply chain, he said, as the design and R&D processes rake in high added value for products. The domestic supply of materials for the sector now represents 60 percent. Local businesses can take the initiative in producing soles and moulds, as well as packaging and labelling. This is attributable to their activeness in manufacturing materials locally, Thuan added. In particular, the Gia Dinh Footwear JSC has set up industrial clusters to attract investment in … [Read more...] about Footwear sector further penetrates global supply chain

Hanoi (VNA) - The national finance sector has recorded important developments and made decisive contributions to the country’s achievements, according to member of the Party Central Committee and Minister of Finance Dinh Tien Dung. Addressing a discussion within the framework of the 13th National Party Congress on January 27, Dung said the financial sector has implemented the policy of e-government development towards a digital government and digital economy, and promoted IT application and development. Businesses now basically conduct all tax declarations, tax payments, tax refunds, and customs procedures via digital platforms. The restructuring of the State budget and public debt in the 2016-2020 period helped strengthen national finances while mobilising more resources for COVID-19 prevention and control, supporting the national economy to avoid recession, helping Vietnam become one of the few economies posting positive growth in 2020, and creating an important foundation … [Read more...] about Finance sector contributes decisively to national achievements: Official

Hanoi (VNA) – Vietnam will elevate bilateral and multilateral relations in the time to come as stated in the draft documents submitted to the ongoing 13th National Congress of the Communist Party of Vietnam (CPV). Talking to reporters on the sidelines of the Congress at the National Convention Center in Hanoi on January 27, Hoang Binh Quan, head of the Party Central Committee’s Commission for External Relations, said Vietnam will make efforts to make its bilateral relations more substantive and effective, focusing on increasing political trust. Currently, the CPV has a resolution to enhance Vietnam's multilateral relations in a spirit that the country will both actively and proactively engage in multilateral mechanisms and initiatives, he said. “This is a development step in the foreign policy of the Party and Government of Vietnam in the coming term,” he noted. Regarding the effectiveness of Vietnam’s foreign policy, Quan said that Vietnam has joined … [Read more...] about Vietnam aims to elevate bilateral, multilateral relations

HCM City (VNA) - Intel had poured an additional 475 million USD into Intel Products Vietnam (IPV), its single-largest assembly and test plant within the Intel Assembly and Test (ATM) network, IPV Chief Financial Officer Alan Danner said on January 27. He made the announcement during a meeting with businesses hosted by Saigon Hi-tech Park (SHTP) in Ho Chi Minh City. This is a new investment following a sum of 1.04 billion USD invested to build a chip assembly and test manufacturing facility at SHTP in 2006, bringing the semiconductor company’s investment in Vietnam to 1.5 billion USD in total. The additional capital was channelled into IPV between June 2019 and December 2020 to bolster the production of Intel’s 5G products, Intel Core processors with Intel Hybrid Technology, and the 10th Gen Intel Core. IPV is an important part of Intel’s production chain across the world, Danner said, adding that the firm will further diversify and improve its activities in … [Read more...] about Intel channels additional 475 million USD into Vietnam

Meanwhile, Vice Secretary of Hanoi’s Party Committee Nguyen Van Phong presented a report on building and turning Hanoi into a major hub of culture, science, education, economy, and international transactions. Nguyen Hong Linh, member of the Party Central Committee and deputy head of the Party Central Committee’s Commission for Mass Mobilisation, emphasized the need to continue renewing the Party’s mass mobilization work so as to further consolidate people’s trust in the Party and tighten the bond between the Party and people. How to develop the knowledge economy as well as international and practical experience of Ho Chi Minh City in the field were presented by Nguyen Thanh Phong, member of the Party Central Committee, Vice Secretary of the municipal Party Committee and Chairman of the People’s Committee of the city. A report titled “Party and people-to-people diplomacy proactively adapts and promote efficiency in the new context” was … [Read more...] about National development measures proposed at 13th National Party Congress