Experts want to reduce number of export inspections Experts have suggested changing the number of and the time spent for inspections of export activities, including customs clearance, to help reduce costs for enterprises. Speaking at a seminar held in Ho Chi Minh on December 20, Tran Ngoc Liem, deputy director of the Vietnam Chamber of Commerce and Industry (VCCI) HCM City, said that overlapping inspection procedures were causing problems for enterprises. The General Department of Vietnam Customs said that procedures accounted for up to 50 percent of customs clearance time. Many shipments have been inspected, but still have not been cleared, it said. Even after three months, State agencies are still conducting inspection checks. Phan Duc Hieu, deputy head of the Central Institute for Economic Management (CIEM), said the proportion of imports and exports subject to specialised inspections at customs clearance was up to 30-35 percent and would be reduced to 15 percent under a … [Read more...] about BUSINESS NEWS IN BRIEF 22/12
Semiconductor business news
BUSINESS NEWS IN BRIEF 21/12
Vietnam, New Zealand networking event discusses CPTPP The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues. The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies. It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force. Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support … [Read more...] about BUSINESS NEWS IN BRIEF 21/12
BUSINESS NEWS IN BRIEF 23/11
Bamboo Airways and Petrolimex’s subsidiaries sign MoU Bamboo Airways Company Limited, a member of FLC Group, signed a memorandum of understanding (MoU) for co-operation with the Petrolimex Insurance Company (PJICO) and Petrolimex Aviation Fuel Joint Stock Company. The MoU was signed last week in the central province of Thanh Hoa. Under the terms, Bamboo Airways would give priority to use non-life insurance products of PJICO such as airplane insurance, airline liability insurance, machinery insurance and others as well as aviation fuel of Petrolimex. Meanwhile, the two subsidiaries of Petrolimex would give priorities to use airlines services of Bamboo. Speaking at the signing ceremony, Pham Van Thanh, Petrolimex’s chairman, said Petrolimex has been a member of the Joint Inspection Group (JIG), the world-leading organisation for the development of aviation fuel supply standards. "We committed to provide preferential to Bamboo Airways in its earlier … [Read more...] about BUSINESS NEWS IN BRIEF 23/11
Four key industries in HCM City see positive growth
In the first 10 months of the year, HCM City’s Index of Industrial Production (IIP) increased by nearly 8 per cent compared to the same period last year, according to the city’s Department of Industry and Trade. — VNA/VNS PhotoViet Nam News HCM CITY — HCM City’s Index of Industrial Production (IIP) in the first 10 months of the year increased by nearly 8 per cent compared to the same period last year, propped up by high growth of electronic equipment and machinery. Production in electronic equipment and machinery sector grew by 17.3 per cent while the mechanical sector increased 8.35 per cent, according to the city’s Department of Industry and Trade. The total export of electronic equipment reached US$7.94 billion, an increase of 17.6 per cent compared to the same period last year, making up 30.78 per cent of total exports in HCM City. Manufacturers have begun to invest more in the domestic market and compete with imported goods, as opposed to … [Read more...] about Four key industries in HCM City see positive growth
U.S. indicts Chinese, Taiwan firms for targeting Micron trade secrets
U.S. indicts Chinese, Taiwan firms for targeting Micron trade secretsThe Saigon Times Daily Assistant U.S. Attorney General for National Security John Demers stands with Attorney General Jeff Sessions for a news conference to announce a criminal law enforcement action involving China and a new Department of Justice initiative focusing on China’s economic activity, at the Justice Department in Washington, U.S. November 1, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - The U.S. Justice Department on Thursday unveiled an indictment against two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from U.S. semiconductor company Micron Technology Inc relating to its research and development of memory storage devices. The charges against Taiwan-based United Microelectronics Corp, China state-owned Fujian Jinhua Integrated Circuit Co Ltd and three individuals who once worked for a unit of Micron mark the fourth case brought … [Read more...] about U.S. indicts Chinese, Taiwan firms for targeting Micron trade secrets