Trade and investment framework agreement

Those convicted of such illegal activity face a fine of up to VND5 billion ($216,400) or five years in jail, he said, adding that his ministry has provided evidence of illegal multi-level marketing forex activities to the Ministry of Public Security for investigation. … [Read more...] about Forex trading by individuals booms in Vietnam though illegal

The project will be implemented in in the period 2020-2030 with a total investment capital of VND95,800 billion (US$4 billion). This is one of 45 projects under the strategic breakthrough programs of the Resolution of the 11th City Party Congress for the 2020-2025 term, carried out by the HCMC Department of Industry and Trade in coordination with the Vietnam Logistics Research and Development Institute. With its strategic target, the growth rate of logistics service revenue from the HCMC enterprises is expected to reach 15 percent by 2025 and 20 percent by 2030, contributing to 10 percent and 12 percent of Gross regional domestic product (GRDP) in 2025 and 2030 respectively; thereby the country’s average logistics cost will fall to 10 percent to 15percent in 2025. Additionally, the project will contribute to promoting construction progress of ring roads and expressways connecting Ho Chi Minh City with the Southern provinces, promoting freight transport by waterways and … [Read more...] about Ho Chi Minh City invests US$4 billion for development of logistics sector

Mentioning nearly 41.000 enterprises having resumed operation in the January–November period, or an increase of 11% inter-annually, as sign of positive economic prospect, the PM expressed concern over the number of enterprises temporarily ceasing operations that remained high at 44,400, a surge of 59.7% year-on-year. … [Read more...] about Gov’t commits to gaining 2.5%-GDP growth target

Hanoi (VNA) – The Vietnamese and Lao Governments are organising the 43rd session of their inter-governmental committee, affirming both countries’ diplomatic priority of unceasingly developing the bilateral relationship of great friendship, special solidarity and comprehensive cooperation. The event also aims at strengthening the political trust between the two countries; and creating a channel for directing the acceleration of the implementation of high-level agreements, and of the cooperative relations between the two countries in the time to come. To co-chair the session, Lao Prime Minister Thongloun Sisoulith is visiting Vietnam from December 4 – 6 at an invitation of his Vietnamese counterpart Nguyen Xuan Phuc. The Lao leader’s Vietnam visit takes place in the context of the bilateral great friendship, special solidarity and comprehensive cooperation developing well. In 2020, although many activities are cancelled due to the COVID-19 pandemic, both sides … [Read more...] about Vietnam, Laos determined to foster comprehensive cooperation

Ten years after the government set up policies on encouraging the development of wind power, only 12 projects have been put into operation with total capacity of 470 MW, or just 50 percent of the plan (800 MW by 2020), and just 7 percent of solar power capacity. … [Read more...] about Wind power developers worried about low electricity price