Vietnam business news

Thailand has passed a plan to allocate its budget of 21.5 billion baht to help stabilize rice prices for Thai farmers. This subsidy program may affect rice exporters including Vietnam, according to local rice operators. Local farmers harvest rice. Thailand’s price subsidy program for rice may affect rice exporters including Vietnam The Thai Cabinet has agreed to extract 34.8 billion baht from the country’s budget for agricultural subsidy programs for rice and oil palm farmers, reported the Vietnam News Agency in Bangkok, Thailand. In particular, over 890,000 households that had registered their rice farming activities with the Thai Ministry of Agricultural and Cooperatives will be the beneficiaries of the rice subsidy program. The one-year program, which will take effect next month, will offer advantageous prices for rice farmers amid downward price volatility. According to the director of a rice exporting firm in the Mekong Delta, rice exporters may suffer negative … [Read more...] about Thailand’s rice subsidy program may affect Vietnam: rice operators

The seafood industry must envision a long-term strategy to make full use of new trade pacts and prepare for problems that might arise when they take effect, Truong Dinh Hoe, VASEP general secretary, said. Shrimp processed at Cuu Long Seafood JSC in Trà Vinh province. Vietnam ranks second globally in shrimp exports, with a market share of 14 percent, only behind India (15 percent). Hoe was speaking at a conference in HCM City on July 17 on the challenges and opportunities faced by the seafood sector under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect in January, and the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to be approved by the EU Parliament late this year or early next year. “Two major trade agreements will result in lower tariffs imposed on Vietnamese goods, but domestic enterprises will also face competition with foreign rivals in addition to stringent regulations on product quality and … [Read more...] about Trade pacts bring opportunities for Vietnam seafood industry’s sustainable growth

Vietnam has the potential to become a leader in tax reform, said Johan Langerock, tax policy expert of Oxfam at the Vietnam Fiscal Policy and Development Forum 2019, which opened in Hanoi on November 13. Johan Langerock, tax policy expert of Oxfam Upon addressing the forum themed “Towards a Fair Tax System, Langerock noted that the country’s economic growth reached a 10-year high of 7.1 per cent last year, with this strong economic momentum expected to continue for the remainder of the year. The nation has been transformed from one of the world’s poorest countries that suffered from frequent food shortages, to a lower middle-income economy that is currently a leading exporter of rice, seafood, coffee, and other commodities. The official poverty rate has fallen from 58 per cent in the early 1990s to less than 10 per cent today. Despite this success, the country’s extraordinary economic track record has not been accompanied by a similar pathway in … [Read more...] about Vietnam can be a leader in tax reform: Oxfam

The number of companies which listed shares or are planning to list shares in 2019 remains very modest. In the first half of the year, only seven companies listed shares at the HCM City Stock Exchange (HSX), nine at the Hanoi Stock Exchange (HNX) and 44 on UpCom. The figures were 23, 11 and 119 companies, respectively, in 2018, and 33, 22 and 268, respectively, in 2017. In the first half of the year, only seven companies listed shares at the HCM City Stock Exchange (HSX), nine at the Hanoi Stock Exchange (HNX) and 44 on UpCom. The figures were 23, 11 and 119 companies, respectively, in 2018, and 33, 22 and 268, respectively, in 2017. Prior to that, HSX also received two companies which moved from HNX and UpCom – Dabaco Vietnam (DBC) and Kosy (KOS). Linh Ha  Framework mooted for stock listing The Politburo recently issued a resolution paving the way for favourable conditions to attract and choose high-quality foreign direct investment into Vietnam.  … [Read more...] about Vietnamese businesses still reluctant to list shares

Vietnam attracts FDI by offering preferences in land access and tax incentives. However, if it wants to attract FDI from the US and EU, preferences alone will not be enough. Experts, while affirming that FDI in the last 30 years did not bring Vietnam as many benefits as it expected, said that Vietnam needs a new FDI attraction strategy and a ‘neo FDI generation’. To lure Asian investors, Vietnam offers preferential schemes, especially preferences in tax and land access.  Mai stressed that the way used to attract Asian investors needs to be different from one to attract FDI from European countries and the US. To lure Asian investors, Vietnam offers preferential schemes, especially preferences in tax and land access. Chi Mai Vietnam fails to attract FDI in hi-tech agriculture Vietnam ranks among the top 3 rice and coffee exporters in the world, and its vegetable and fruit exports are expected to reach $10 billion prior to 2025. Disillusioned about FDI: … [Read more...] about Vietnam needs new method to attract FDI from US, EU: experts