Post independence period meaning

Around 68 per cent of listed public companies are complying with minimum legal requirements on independent directors, in which the lowest rate is 30 per cent in the automobile sector, and the highest rate is 100 per cent in banking. Compliance rate rise bodes well for listed companies, illustration photo/ Source: Shutterstock The information was provided in the ‘Independent Directors Survey of Public Companies in Vietnam’ report, compiled by FiinGroup and the Vietnam Independent Directors Association (VNIDA). The survey and the report have been carried out with the primary technical support from the International Finance Corporation through the SECO-funded Vietnam Integrated ESG Programme, and covered 544 companies that have disclosures on independent directors out of 769 companies listed on the Ho Chi Minh City and Hanoi stock exchanges. Under 2020 legislation guiding the implementation of the Law on Securities, a listed company’s board is required to have at least … [Read more...] about Compliance rate rise bodes well for listed companies

The high-tech measure is expected to improve the airport's operational efficiency and the detection of aviation violations. Van Don International Airport in the northern province of Quang Ninh is to pilot facial recognition (biometric authentication) for passengers at the check-in counter, according to the Civil Aviation Authority of Vietnam (CAAV). After Cat Bi International Airport in the northern city of Haiphong, this is the second airport in the country to pilot this advanced facial recognition technology. Travelers using chip-based citizen ID cards must go through a facial recognition system at the security check. The screening system uses VeriPAX software developed by the Airports Corporation of Vietnam (ACV). VeriPAX software displays all information read from ID cards and itinerary information associated with the passenger list to verify information on ID cards and boarding passes. Aviation officers will allow passengers into the screening area if the … [Read more...] about Van Don Airport to pilot facial recognition tech for passengers

Local authorities will maintain inspection works at key areas, including Noi Bai International Airport, Yen Vien train station, ports, wholesale markets and shopping malls. Hanoi’s Steering Committee for Combating Smuggling, Commercial Fraud and Counterfeit Goods, known as Steering Committee 389, has announced its plan to intensify efforts to combat smuggling and trade frauds before, during and after the 2021 Lunar New Year holiday. Local authorities would maintain inspection works at key areas. Under the plan, the city’s Steering Committee 389 will enhance inspection works at key areas, including Noi Bai International Airport, Yen Vien train station, ports, wholesale markets, and shopping malls. The committee is set to mobilize personnel and resources to set up checkpoints at roads, railways, airports to prevent movement of smuggled, fake and low-quality products into the country. This is particularly important for the control of banned items or items that … [Read more...] about Hanoi intensifies efforts to combat smuggling and trade frauds ahead of Tet holiday

The fact that Asanzo only assembled products with components made by other companies but then labeled them as “Made-in Vietnam” is not an offense. The lack of specific criteria for “Made-in-Vietnam” products as well as for products assembled and then sold domestically means electronic firm Asanzo has not committed trade fraud, according to the conclusion the Anti-corruption, Economic crimes and Smuggling Department, aka C03, under the Ministry of Public Security. Electronic firm Asanzo is concluded not to commit trade fraud. As a result, the fact that Asanzo only assembled products with components made by other companies but then labeled them as “Made-in Vietnam”, “Manufactured in Vietnam”, or “Origin from Vietnam”, is not an offense, said C03. C03 requested the General Department of Vietnam Customs to check components and parts imported by Asanzo after they had been cleared by the customs authorities to ensure the firm’s compliance with laws on … [Read more...] about Vietnam electronic firm Asanzo not committed trade fraud

During an event held by the provincial People’s Committee on March 25, Deputy PM Khai hailed the success of the province's industrial - urban - service model and urged Binh Duong to continue pursuing rapid, harmonious, inclusive and sustainable development, leaving no one behind. Chairman of the provincial People’s Committee Vo Van Minh said industry - trade - services now account for nearly 97% of the local economy. At present, Binh Duong is home to 29 concentrated industrial parks with a total land area of nearly 13,000 ha and an average occupancy rate of over 90%. During the 1997-2022 period, its gross domestic product expanded by 10.86% annually. On the occasion, the provincial People’s Committee handed over investment certificates to nearly 10 domestic and foreign companies. Representatives from Vietnam’s Becamex IDC Corporation and the investor of the Vietnam - Singapore Industrial Park (VSIP) joint venture signed deals with nine provinces - Tay Ninh, Binh Thuan, Thai … [Read more...] about Binh Duong advised to switch to smart industrial – urban – service model

Illustrated images. Photo: Le Toan The United States Department of Commerce (DOC) has now issued the sixth extension of the deadline to deliver final findings on the examination of evasion of anti-dumping and countervailing duties on plywood made from hardwood resources imported from Vietnam, according to the Trade Remedies Authority of Vietnam yesterday. The DOC launched a trade remedy into Vietnam's hardwood plywood goods on June 17, 2020, based on claims from the local manufacturing sector, to ensure the effectiveness of trade remedy implemented measures against China's hardwood plywood. On July 25, 2022, DOC published the preliminary results of its inquiry into the avoidance of trade remedies by Vietnamese importers of hardwood plywood. The preliminary finding of the DOC was that Vietnamese plywood with a core composed of peeled Chinese wood would be subject to the same anti-dumping and anti-subsidy taxes as Chinese plywood. Vietnam-origin plywood … [Read more...] about US widens plywood trade remedy inquiry

Vietnam attracted nearly 5.45 billion USD worth of foreign investment in the first quarter of the year, down 39% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. A factory in Dong Nai province's Giang Dien Industrial Zone. (Photo: VNA) Of the three-month figure, over 3 billion USD came from 522 newly-licensed projects, up 62% in a number of projects but down 6% in the amount of capital compared to the same period last year. Some 1.2 billion USD was added to 228 existing ones, representing a yearly hike of 3% in a number of projects and a yearly decline of 70.3% in the capital. However, foreign investors' capital contribution and share purchases rose 4% year-on-year to 798 million USD, the FIA said. Along with the contraction in fresh capital, the disbursed capital also slightly plunged 2.2% from a year earlier to 4.3 billion USD, it noted. The most significant proportion of the period's … [Read more...] about Vietnam’s foreign investment plunges 39% in Q1

Phu Quoc Island is an ideal choice for travel and long-term relaxation, with a complete visa exemption policy for international visitors, a temporary stay of up to 30 days, a rich natural environment, and pleasant architecture. Phu Quoc is famous for its beautiful and dreamlike beaches. Foreigners and Vietnamese holding foreign passports benefited from a 30-day stay on Phu Quoc island exempt from requiring visas from July 1, 2020. Foreigners can enter Vietnam by air or sea and stay in transit and then transfer directly to Phu Quoc Island without requiring a visa. Hon Thom cable car, the longest of its kind in the world, is in the South of Phu Quoc island. As an isolated island located in the Gulf of Thailand, located off the southwest of mainland Vietnam, the means of transportation to Phu Quoc are very convenient with air, sea, and land routes. Tourists can use Phu Quoc International Airport Border Gate, Ha Tien International Border Gate, and … [Read more...] about Phu Quoc attracts international tourists thanks to superior visa policies

A social housing project (Photo: VNA) Hanoi – Prime Minister Pham Minh Chinh has just signed a document requesting more efforts to promote the development of and remove obstacles to the real estate market. He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market. He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period. By VNA … [Read more...] about PM orders close coordination to remove obstables to property market

Han River runs through the central city of Da Nang.  (Photo: VNA) Da Nang (VNA) – The People's Council of Da Nang city has just approved a resolution on the Da Nang city Master Plan for the 2021-2030 period, with a vision to 2050 which will be soon submitted to the government for approval. Accordingly, by 2030, the city expects to achieve an average annual economic growth rate of 9.5-10% and a gross regional domestic product (GRDP) per capita of about 200-220 million VND (8,500 – 9,350 USD) per person. By 2030, the city’s economic development will focus on three pillars, namely tourism, knowledge-based economy, and service centre. Under the master plan, the city also strives to have annual budget revenue increase of 9-11%, and total investment capital for social development by 11-12%. Da Nang city expects to have about 32,000-35,000 jobs created yearly by 2030. (Photo: VNA) The city targets to mobilise about 800 trillion VND in investment capital for social … [Read more...] about Da Nang targets annual growth of 9.5-10% by 2030