The CEO and Regional Head, Client Coverage, Americas, Standard Chartered, shared his view on Vietnam's significance for US businesses and why Vietnam is potential for foreign investors. Vietnam has gone from being a frontier economy in ASEAN to a flourishing, cost-effective industrial nation. Firms and investors looking for new markets to grow, source, or manufacture their products – especially in Asia – should consider Vietnam’s long-term potential and stay updated on its opportunities. Steven Cranwell, CEO and Regional Head, Client Coverage, Americas, Standard Chartered. Photo: Standard Chartered In recent years, Vietnam has benefited from the trade tensions between the US and China. With US companies adopting a ‘China plus one’ approach to their supply chains, the percentage of exports from Vietnam to the US has risen by approximately nine percent between 2018 and 2021. It is, however, important to note that Vietnam has been an alternative to China … [Read more...] about The significance of Vietnam for US businesses and why they should take notice: Standard Chartered
The drastic increase in american troop strength in vietnam in 1964 was caused directly by
Leaders of aviation firms to be disciplined if employees committed wrongdoings
A view of Noi Bai International Airport in Hanoi. (Photo chinhphu.vn) Hanoi (VNS/VNA) - The Civil Aviation Administration of Vietnam (CAAV) has just released Directive 1480 on enhancing smuggling and commercial fraud prevention among aviation employees. The directive highlighted the case of four airline staff who were caught allegedly transporting drugs that caused wide public attention recently. These allegations, according to CAAV, have damaged the image and reputation of the national airline, as well as posing potential threats to aviation safety and security. The case also showed how the previous directive on smuggling prevention had not been taken effectively by airlines . Through the directive, CAAV commanded related units, businesses and individuals to take responsibility and discipline if needed those who don't follow the directive. The authority also asked aviation enterprises to actively strengthen internal security control for aviation … [Read more...] about Leaders of aviation firms to be disciplined if employees committed wrongdoings
Don’t rely on tax incentives for FDI: analysts
As foreign direct investment (FDI) business representatives and analysts gathered at an investment forum Wednesday morning, Deputy CEO of Deloitte Vietnam Phan Duc Hoang said that the new global minimum corporate tax was designed to block multinationals from tax avoidance. Starting next year Vietnam is set to apply a 15% tax on profits from multinationals with total revenues of at least EUR750 million ($819 million) in two of the preceding four years. Hoang said if a South Korea-based company that has a factory in Vietnam is paying taxes for less than 15% of its profits, it will be taxed in South Korea to ensure the 15% level is achieved. If South Korea does not also implement the extra tax on the company, other countries that have approved the new global minimum corporate tax, such as Indonesia and Thailand, will have the rights to impose the tax, he added. For this reason, Do Thien Anh Tuan from the4 Fulbright School of Public Policy and Management, forecast that Vietnam will … [Read more...] about Don’t rely on tax incentives for FDI: analysts
Ninth National External Information Service Awards launched
The press conference launching the ninth National External Information Service Awards on March 29 (Photo: VNA) Hanoi (VNA) – The Steering Committee for External Information Service, the Party Central Committee’s Commission for Information and Education , the Vietnam News Agency (VNA), and relevant agencies launched the ninth National External Information Service Awards on March 29. The awards aim to honour outstanding authors, works, and publications in the field of external information service and help popularise the country’s development achievements in various areas. The Vietnam News Agency is the standing body of the ninth National External Information Service Awards. Addressing a press conference in Hanoi, Le Hai Binh , alternate member of the Party Central Committee, Vice Chairman of the Party Central Committee’s Commission for Information and Education, and Standing Vice Chairman of the Steering Committee for External Information Service, said that first … [Read more...] about Ninth National External Information Service Awards launched
Hanoi determined to preserve its “green lung”
Hanoi is known to have more rivers, lakes, ponds, and lagoons than any other city in Vietnam, acting as natural air conditioners to maintain a balanced ecology or being the city's green lung. The Hanoi People's Committee has recently approved a comprehensive list of 3,164 lakes, ponds and lagoons that are now off-limits to reclamation activities, demonstrating the authorities' unwavering commitment to preserving the capital's greenery and environmental sanctity. Cau Giay Lake in Dich Vong Ward, Cau Giay District. Photo: Pham Hung/The Hanoi Times There are 30 districts and towns on the list. Among them, the inner-city district of Hoan Kiem has the lowest number of protected lakes, with only one, while Quoc Oai District has the highest number of protected water bodies, with an impressive 276 lakes, ponds, and lagoons. Other areas with notable numbers include Cau Giay (29), Dong Da (15), Hoang Mai (40), Long Bien (53), and Son Tay Town (199). Drastic actions … [Read more...] about Hanoi determined to preserve its “green lung”