Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam has been excluded from countries subject to self-defence duties on evaporators or condensers imported into Indonesia from September 5, as it is on the list of developing countries with insignificant exports to Indonesia, reported the Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam . Accordingly, the Indonesia Safeguards Committee (KPPI) has decided to apply the extension of self-defence taxes globally from September 5, 2023 to September 4, 2026. Evaporators or condensers with HS code 8418.99.10, part of the refrigerators, freezers or other refrigeration/freezing equipment, will be subject to a self-defence tax rate of 12.5% in the first year from September 5 – September 4, 2024, and 11% in the second year from September 5, 2024 to September 4, 2025, and 9.5% in the third year from September 5, 2025 to September 4, 2026. The KPPI has also issued a notice to extend the application of … [Read more...] about Vietnam not subject to Indonesia’s self-defence duties on imported evaporators, rolling papers
Reaching the 90 90 90 target lessons from hiv self testing
Working with American business partners requires understanding their way of thinking
In January 2000, we established our first branch in San Jose, California, the heart of Silicon Valley. The director of that branch was a patriotic diasporic Vietnamese. But the American Dream did not come true for us. After merely one year of operations, FPT USA had to temporarily stop operating due to a lack of customers. We tried everything, with different people attempting to take the reigns of business development. From a Vietnamese expat to a graduate from prestigious MBA programs. What we received were critics, portraying our managers as "delusional about our corporate capability" and our programmers "weak in both expertise and language skills." It was a total failure. No one cared about a nameless company from Vietnam, a country only known then for the prolonged war. One of our then-potential customers was surprised to learn that it only took one hour to fly from Hanoi to Bangkok. He could not imagine the locations were so close, despite his own flying to Bangkok quite … [Read more...] about Working with American business partners requires understanding their way of thinking
CIEM forecasts three economic growth scenarios for Vietnam in 2023
Vietnam’s gross domestic product (GDP) is hoped to grow 6.46% in the third scenario when the global economy will see positive changes, and Vietnam will take drastic actions in reform and management (Photo: VietnamPlus) Hanoi (VNA) – The Central Institute for Economic Management ( CIEM ) put forwards three scenarios for Vietnam’s economic growth in 2023 at a seminar in Hanoi on July 10 to announce a report on the domestic economy in the first half of this year, and prospects for the second half. Specifically, Vietnam’s gross domestic product (GDP) is expected to grow 5.34% this year under the first scenario. The first scenario assumes the global economic development matches assessments of international organisations and Vietnam, under which the country’s export turnover is projected to drop by 5.64%, and its consumer price index (CPI) will rise 3.43%, with a trade surplus of 9.1 billion USD. Under the second as, given monetary and fiscal easing in Vietnam , the GDP … [Read more...] about CIEM forecasts three economic growth scenarios for Vietnam in 2023
Ministry projects three economic growth scenarios for 2024
Gemalink Deep-Sea Port in Ba Rịa - Vung Tau province (Photo: VNA) Hanoi (VNA) - The Ministry of Planning and Investment has outlined three potential economic growth scenarios for 2024 , with the highest GDP growth rate forecast at 6.5%. These projections stem from the Government's socio-economic development strategy for the 2021-25 period, combined with endeavours to meet the 2023 growth goal of 6.5%. Given the challenges faced by the Vietnamese economy between 2021-23, 2024 is anticipated to be a pivotal year for Vietnam to accomplish the objectives of its five-year plan. In the first scenario, Vietnam's GDP is predicted to rise by 6%. This estimate presumes that global growth will be moderate in 2023 and the resurgence of global trade and investment will continue to face hurdles. Although the domestic market and services sector might exhibit robust growth, the import, export, and industrial production sectors may not experience a marked recovery due to their … [Read more...] about Ministry projects three economic growth scenarios for 2024
Defense leader works with Song Thu Corporation
At the event, Gen. Luong and his entourage heard a report on the company’s implementation of business and production tasks since 2022. In particular, in 2022 and the first nine months of this year, the corporation has repaired and handed over 71 defense ships; built 28 new economic ships for domestic and foreign partners and customers; handed over 12 other ships; and repaired and handed over 35 out of 38 economic ships and 25 out of 27 economic products of all kinds. Attentively, in terms of realizing production and business targets, the company achieved VND 611.012 billion in turnover in 2022, reaching 103% of the year plan. In the year, the average income was VND 11.449 million per person a month, reaching 122% of the year plan. In the first nine months of this year, production value is estimated at VND 331.631 billion VND, meeting 47% of the year plan; revenue VND 310.811, achieving 46%; and average income VND 9.652 million a person per month, reaching 79% of the year plan. … [Read more...] about Defense leader works with Song Thu Corporation
Vietnam – Japan ties live up to extensive strategic partnership: ambassador
Vietnamese Ambassador to Japan Pham Quang Hieu grants an interview to the Vietnam News Agency. (Photo: VNA) Tokyo (VNA) – The Vietnam - Japan relations are now in their prime and live up to the countries’ extensive strategic partnership, Vietnamese Ambassador to Japan Pham Quang Hieu said on the occasion of the 50th anniversary of the bilateral diplomatic ties (September 21, 1973 - 2023). Talking to the Vietnam News Agency, he said that over the last 50 years, the countries’ friendship and cooperation have been reinforced unceasingly and developed comprehensively in all aspects, becoming a bright spot in the implementation of Vietnam’s foreign policy of independence, self-reliance, and diversification and multilateralisation of international relations. Japan currently ranks first among providers of official development assistance (ODA), second among labour cooperation partners, third among foreign investors and tourism partners, and fourth among trading partners of … [Read more...] about Vietnam – Japan ties live up to extensive strategic partnership: ambassador
Hong Kong to help elevate Việt Nam’s stock market potential
Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX). — Photo courtesy of HKEX The Vietnamese stock market is a key capital mobilisation channel for the economy and is undergoing improvement and upgrading towards emerging status. Considered as Asia’s financial hub, Hong Kong is a role model for Việt Nam to follow. When Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX), came to Việt Nam for a conference, Việt Nam News reporter Ly Ly Cao took the opportunity to speak to her about solutions to enhance the country’s stock market and how Hong Kong can support Việt Nam in the upgrading process. What do you think about the Vietnamese stock market in its current state? Việt Nam’s economy is on very strong momentum in terms of GDP growth, which grew by more than 8 per cent last year and is hopefully to reach 6 per cent this year. This sets a very strong foundation for the local … [Read more...] about Hong Kong to help elevate Việt Nam’s stock market potential
ASEAN, Vietnam seek to tackle fake news
Vietnam has implemented regulations to effectively manage misinformation. Fake news and disinformation are global issues impacting not only ASEAN but also countries like Vietnam, necessitating comprehensive solutions. Delegates attend the forum. Photo: Congly.vn This consensus was reached at the ASEAN Forum on Tackling Disinformation, held in Danang City on September 19. The forum is part of a series of international events on information and communication in the ASEAN region hosted by the Ministry of Information and Communications (MIC) until September 23. Le Quang Tu Do, the head of the MIC's Department of Radio, Television, and Electronic Information, mentioned that four major platforms dominate in Vietnam: Zalo with 47 million users, YouTube with 63 million users, Facebook with 66 million users, and TikTok with nearly 50 million users. Among these platforms, Facebook, YouTube, and TikTok are particularly susceptible to the rapid spread of … [Read more...] about ASEAN, Vietnam seek to tackle fake news
Vietnam’s first local currency sustainability-linked bonds aim to boost economy
As the first local currency SLBs in Vietnam, they aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country’s low-carbon growth model. IFC’s investment comprises two elements, with about $100 million to be issued by BIM Land – a tourism and property developer in Vietnam – and approximately $50 million to be issued by Thanh Xuan JSC. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan Valley project in Vinh Phuc province, including an eco-friendly and unique residential community alongside a hotel complex (under the InterContinental brand), as well as other relevant services and infrastructure. IFC’s funding will also help the developers implement water- and energy-saving solutions at two BIM Land hotels – InterContinental and Regent – on Phu Quoc island. An innovative financing tool to support global sustainable development, these … [Read more...] about Vietnam’s first local currency sustainability-linked bonds aim to boost economy