Vcci

Two workers of Vietnam Electricity (EVN) are inspecting an electricity facility. EVN took out an unguaranteed foreign loan of 80 million euros in March to develop new grids in the South. — Photo baochinhphu.vn As the State Bank of Vietnam is gathering comments on a draft amending Circular 12 on eligibility requirements for unguaranteed firms to take out foreign loans, the Vietnam Chamber of Commerce and Industry has suggested several modifications to the document. The draft requires borrowers which are not credited institutions or branches of foreign banks to inform the authorities about all their business activities when applying for a foreign loan. VCCI believes full disclosure is unnecessary and suggests the borrowers be required to disclose only those business activities that are relevant to the loan. The draft also requires borrowers to inform the authorities about their outstanding foreign loans and show that they qualified for the loans at the moment they were granted to … [Read more...] about VCCI comments on draft amending Circular 12

In the past two months, Vietnam’s retail fuel prices have set up new records five times. Curbing the rise of petrol prices are essential for Vietnam to contain inflation, stabilize macro-economic conditions, and support economic recovery, for which scrapping excise tax on this product should be considered. A petrol station in Hanoi. File photo The Vietnam Chamber of Commerce and Industry (VCCI) gave its view on the draft resolution of the Ministry of Finance (MoF) on revising the tax rates for petroleum products. The move, however, could only be seen as a long-term solution, as any decision on the cut of excise and value-added taxes for petrol products are subject to the ratification of the National Assembly, with the upcoming session scheduled to take place in late 2022. In this regard, the VCCI expressed its support for MoF’s suggestion to further cut the environmental protection tax on fuels and gas products, saying such a move could be done right in … [Read more...] about VCCI proposes to scrap excise tax on petrol

At the event (Photo: VNA) Seoul (VNA) – Vietnam and the Republic of Korea (RoK) need to beef up cooperation and investment in the post-COVID-19-pandemic period, said Joo Si-bo, president of the RoK-Vietnam economic cooperation association, at a conference in Seoul on June 24. Co-organised by the Vietnam Chamber of Commerce and Industry ( VCCI ) and the Korean Chamber of Commerce and Industry (KCCI), the event promoting Vietnam’s business climate took place as part of activities marking the 30th anniversary of the countries’ diplomatic relations. In his opening speech, Joo Si-bo suggested a series of potential fields for bilateral collaboration such as public healthcare, smart city development, the digital economy, and green industries. VCCI Chairman Pham Tan Cong said over the past 30 years the chamber has actively worked with RoK partners, particularly the KCCI, to hold similar events. During the discussions, representatives of Vietnamese and RoK businesses … [Read more...] about Vietnamese, RoK firms advised to team up for post-pandemic recovery

Van Don - Mong Cai Highway under construction (Source: baoquangninh.com.vn) Quang Ninh (VNA) – The Van Don - Mong Cai highway, which is scheduled for completion and operation on June 30, aims to create favourable conditions for the northeastern province of Quang Ninh to make breakthrough developments and promote economic links in the region. Nguyen Tien Oanh, Director of the Executive Board of the highway project (the Tien Yen - Mong Cai section), said it has taken time to complete this section – which extends from Bach Dang bridge to the Mong Cai international border gate , because of difficulties caused by the COVID-19 pandemic and other reasons. However, the foundation of the sector has been basically completed and is entering the finishing stages, he said. According to representatives from the Ministry of Transport, the Van Don - Mong Cai highway, which is part of the Hanoi - Quang Ninh highway, plays a strategic role for the socio-economic development of Quang … [Read more...] about Van Don – Mong Cai highway: new launch pad for Quang Ninh’s economic growth

At a time of rampant unverified and fake news, official and credible information provided by the press has been guiding the businesses forward. The media outlets have shown their  role in addressing the concerns of businesses at a time when the latter was struggling with the Covid-19 pandemic impacts. Overview of the forum. Source: VNA Editor in chief of Nhan Dan Newspaper Le Quoc Minh stressed the view at a forum titled “The partnership between the press and businesses for a prosperous Vietnam” today [June 29]. “During the pandemic when   unverified and fake news are being spread rampantly, official and credible information provided by the press has been guiding the businesses forward,” he continued. "Such a relationship has also been reflected through the partnership between the press and companies in brand building or product advertising," said Minh. Minh expected the press to continue serving as a bridge between the business community and the … [Read more...] about Media outlets and businesses form strong bond in difficult times: Experts

Movitel, the telecommunications network of Viettel in Mozambique. There is significant room for Viet Nam and Mozambique to increase trade and investment cooperation. — Photo vneconomy.vn Mozambique could act as a gateway for Vietnamese businesses to penetrate member countries of the Southern African Development Community (SADC), President of the Mozambican Assembly Esperanca Laurinda Francisco Nhiuane Bias said at a meeting with representatives of the Vietnamese business community in Ha Noi on Tuesday. Held by the Viet Nam Chamber of Commerce and Industry (VCCI) and the Mozambique Embassy in Viet Nam, as part of the President of the Assembly's visit to Viet Nam, she called on Vietnamese enterprises to invest in tourism, mining, energy and agriculture, in which Mozambique has potential. She stressed the African nation had established a portal providing information for both private and state-owned firms to support investors. She suggested that Vietnamese and Mozambican … [Read more...] about Mozambique could be gateway for Vietnamese firms to access southern Africa

Overhead view of a project under the North-South Highway Project. (Photo: VNA) Hanoi (VNS/VNA) - Nearly 18 months since the introduction of the 2021 Law on Public-Private Partnership (PPP) in Vietnam, it's still difficult to get investors to warm up to PPP projects despite the huge potential for growth, as the country ramps up efforts to build modern infrastructure, said industry experts and policymakers in a meeting in Hanoi on June 21. The Law on Public-Private Partnership was supposed to, in theory, address three major problems endemic in Vietnam’s infrastructure projects; slow progression, overbudget and poor quality. However, according to many in the field, the law has failed to tackle a number of fundamental issues, which has discouraged and hindered investors to commit to infrastructure projects. Dr Tran Chung, President of the Vietnam Association of Road Traffic Investors (VARSI) President, said the relationship between the State and investors, as of right now, was … [Read more...] about Lopsided relationship scares investors off PPP

The two countries have become leading important partners of each other, Minh said in a video that was sent to the Maekyung Global Forum held in Seoul on June 23 as part of activities to celebrate the 30th founding anniversary of the bilateral diplomatic ties. The event was organized by the Vietnam Chamber of Commerce and Industry (VCCI), the RoK’s Maekyung Media Group and the Korean Chamber of Commerce and Industry (KCCI). Despite the negative impacts of the COVID-19 pandemic, the Vietnam - RoK strategic cooperative partnership has continued to grow strongly, practically and effectively with a very solid and increasingly extensive cooperative foundation in all fields, Minh said, adding that the two countries are aiming to upgrade their relations to a comprehensive strategic partnership. There remains a lot of room and potential for cooperation between the two  nations, he said. The Deputy PM affirmed that the Vietnamese Government is committed to creating an open, favorable and … [Read more...] about Forum seeks to enhance Vietnam-RoK cooperation

Dau Anh Tuan, Head of the Legal Department of the Vietnam Chamber of Commerce and Industry (VCCI) Mr. Dau Anh Tuan said that the fear of responsibility in public procurement bidding after recent incidents is in fact understandable. To carry out regular public procurement, it is necessary to have institutions and people who are extremely knowledgeable about the process, procedures, and laws so that this process can be carried out in the best way. Another important thing is the non-profit nature, if public procurement does not install personal interests, does not share expenses, giving more for lubricating the bidding procedure, it will certainly not happen in cases like Viet A, said Mr. Tuan. Furthermore, Mr. Tuan revealed that the results of a large-scale survey of more than 1,100 enterprises participating in public procurement tenders conducted by VCCI over the past time show that most enterprises are encountering difficulties while participating in bidding is the preparation … [Read more...] about More clearly contractor appointment for public procurement needed

Public and private sectors work together to establish a circular business economy in Vietnam, aiming towards the country's 2050 objective of net zero emissions. Photo by: Duc Thanh The conference saw the participation of representatives from the MoNRE, the United Nations Development Programme (UNDP), the Global Plastic Action Partnership (GPAP), SCG Vietnam and BeerCo Limited, the Vietnam Chamber of Commerce and Industry (VCCI), and other international organisations and businesses, as well as the press. During the plenary session, the panellists examined the feasibility of building CE in Vietnam to achieve the net zero emission objective by 2050. They also discussed factors to be considered when implementing a circular approach in the country, taking into account lessons learnt from foreign partners and proposals for the transition to circularity. Minister of Natural Resources and Environment Tran Hong Ha emphasised the importance of revamping the current linear economy in … [Read more...] about Vietnam primed for circular and sustainable advancement