The Vietnam Chamber of Commerce and Industry (VCCI) has warned that the recent issuance of the Unfair Competition Act (UCA) will affect business opportunities for Vietnam's manufacturers and exporters to the US market. Therefore, Vietnamese businesses should use legal software when exporting to the US market. If not, they will lose market share and business opportunities in the market. Many states in the US have approved the UCA, asking international manufacturers and exporters to use information technology, with both legal hardware and software in production and trade activities. The use of illegal software products is beneficial to manufacturers in terms of input costs but unfair for competitors using legal software products, they said. According to trade experts from VCCI, the new law will make an impact on commodities imported to the US market from Asia including Vietnam. However, the law will also open up a huge opportunity for Vietnamese manufacturers to sharpen their … [Read more...] about Vietnamese businesses urged to seize opportunities in the US market
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Vietnamese, Cuban businesses boost cooperation
A conference on trade, investment and exchange among businesses was held under the framework of the 29th Havana International Fair (FIHAV) in Cuba on November 4. The event, organized by the Thai Binh Investment Trading Corporation in co-ordination with the Vietnamese embassy in Cuba, aiming to introduce the trade potential and promote economic and investment cooperation between Vietnam and Cuba. Speaking at the conference, Vietnamese ambassador to Cuba Vu Chi Cong said that, despite the US embargo against Cuba and the geological distance between the two countries, Vietnam has maintained and a multifaceted relationship with the country, making it Cuba's second biggest trade partner in Asia. Ambassador Cong said the conference offered an opportunity for businesses in both countries to devise measures and action plans to strengthen bilateral relations. Raisa Costa Blanco, Director of the Centre for Promoting Cuban Foreign Trade and Investment (CEPEC), said in order to effectively … [Read more...] about Vietnamese, Cuban businesses boost cooperation
Vietnamese players win Xiangqi event
HA NOI — After 31 years of waiting, Vietnamese players have taken the throne at the 15th Asian Xiangqi (Chinese chess) Individual Championship yesterday with two gold medals in the men's and women's individual event. On the men's side, HCM City's Nguyen Hoang Lam brought home the title. Lam and his teammate Bui Duong Tran shocked spectators by fending off the event's powerhouse nation of China, whose players did not even make the final. Lam played Tran in the final round, with Lam eventually coming out on top. Chinese masters Lu Qin, five-time world champion, and Wang Yue Fei were knocked out in the event's preliminary stage. It is the first time in 31 years that Chinese players missed out on spots in the semi-finals. On the women's side, Ngo Lan Huong defeated Chen Li Chun of China in the final to take the title. At the Asian event four years ago, Chen took the title while Viet Nam's Dam Thi Thuy Dung was the runner-up. The Asian event, which was held at Seac Multisport … [Read more...] about Vietnamese players win Xiangqi event
Vietnam calls for investment from Overseas Vietnamese
Vietnamese businesses in the UK and Northern Ireland will enjoy favourable conditions while investing in Vietnam, said Deputy Minister of Industry and Trade, Le Danh Vinh. Mr Vinh made the commitment while attending a recent seminar in London to provide the UK-based Vietnamese business community with detailed, up-to-date information on the trade and investment environment in Vietnam. He briefed participants on the State's policies relating to trade, industry, business and investment, and spoke highly of the prospects for economic cooperation between Vietnam and the UK in the coming years, with two-way trade this year expected to increase by 17 percent against last year. The Vietnamese Ambassador to the UK and Northern Ireland, Tran Quang Hoan, praised efforts made by overseas Vietnamese in general, and their businesses in particular, in expanding investment in the homeland as well as promoting "Made-in-Vietnam" goods and doing charitable work in the UK. The seminar, … [Read more...] about Vietnam calls for investment from Overseas Vietnamese
South Korea re-opens the door for Vietnamese workers
The South Korean Ministry of Employment and Labor and the Vietnamese Ministry of Labor, War Invalids and Social Affairs have agreed to organize a Korean language test for Vietnamese workers this month. This decision means that the South Korean labor market will re-open for Vietnamese guest workers. The language test is scheduled on November 17-18 in Hanoi, Nam Dinh, Nghe An, Da Nang and HCM City. This time South Korea will recruit 15,000 Vietnamese workers, including 11,700 for the manufacturing industry, 1,000 for construction sector, 1,000 for agriculture and 1,300 for fishery. Previously, South Korea considered whether to hire Vietnamese workers further or not, because many Vietnamese workers did not return home after the labor contracts end. Nguyen Ngoc Quynh, head of the Department for Overseas Labor Management, said that restriction will be applied for locations where at least five workers who illegally quit job and illegal reside in South Korea. Quynh said that around … [Read more...] about South Korea re-opens the door for Vietnamese workers