Vietnam 

Ministry wants to reduce tax on locally made auto parts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars. The request is part of a ministry document (655/BTC-CST), which supplements and revises several articles of another document (108/2015/NĐ-CP), was recently sent to the Prime Minister. In the document, the ministry stated that the current calculation of the special consumption tax on cars depends on the…

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Vietnam 

Rules needed for origin labels – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Detailed regulations for labeling products as ‘Made in Việt Nam’ are needed to create a legal framework preventing fraud as well as protecting local production and consumers. The Ministry of Industry and Trade’s Import – Export Department had recently warned about the increase in trade fraud through labeling products as ‘Made in Việt Nam’. The labeling of products as ‘Made in Việt Nam’ aimed to benefit from free trade agreements to which the country is a member and to avoid trade defense…

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Vietnam 

Cognex expands presence in ASEAN market, targeting Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News SINGAPORE — Việt Nam was an impressive emerging market with a rapid increase of foreign direct investment (FDI) as well as the appearance of mega-factories in recent years, stimulating technology corporations to expand their presence here. The statement was made by Eric Moon, vice president and head of Asia sales at Cognex Corporation at the launch of its new office on Monday in Singapore. Cognex Corporation is one of the world’s leading suppliers of industrial barcode readers and machine vision. The expansion in…

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Vietnam 

VN-Index gains on property stocks – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Việt Nam’s benchmark VN-Index advanced on Tuesday thanks to strong growth of large-cap stocks such as Vingroup (VIC) and its property arm Vinhomes (VHM). The VN-Index edged up 0.32 per cent to close trade at 964.35 points. It increased over 1 per cent on Monday. However, 190 of total 380 stocks on the Hồ Chí Minh Stock Exchange lost value and only 97 stocks advanced. Many of the largest capitalised stocks also slumped, including Vietcombank (VCB), PV Gas (GAS), Bank for…

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Vietnam 

Nghệ An calls on investment in western area – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Rice fields in the highlands of Tương Dương District in Nghệ An Province. — Photo baonghean.vn Viet Nam News HÀ NỘI — Nghệ An Province is taking many measures to improve the quality of its business environment, hoping to attract more investment in the western area of the province. Currently, the region is home to more than 163 projects with total registered capital of VNĐ64.1 trillion (US$2.8 billion). Among them are big projects including $1.2 billion TH dairy farm of TH Milk Food JSC, high-tech pig-breeding farm Masan…

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Vietnam 

Petrolimex attempts to sell 12 million treasury stocks again – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Petrolimex currently holds more than 135 million treasury stocks, equivalent to 10.44 per cent of its capital. — Photo vnmedia.vn Viet Nam News HÀ NỘI — Việt Nam National Petroleum Group (Petrolimex) has made a second attempt to sell 12 million treasury stocks, equivalent to 1 per cent of its charter capital, from February 27 to March 28. The first sale effort was made in January but it failed to sell these stocks due to inappropriate market conditions, according to the company. Petrolimex currently holds more than…

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Vietnam 

Bank liquidity abundant after Tết – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cash flow has returned to the banking system after Tết. – VNA/VNS Photo Viet Nam News HÀ NỘI — Liquidity of the banking system has been plentiful again after the Lunar New Year, helping the central bank net withdraw more than VNĐ51.55 trillion (US$2.2 billion) in the past week. According to a report from the Saigon Securities Inc (SSI), the good liquidity, which was thanks to the return of cash flow to the banking system after Tết, has helped interest rates of loans in the inter-bank market decrease…

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Vietnam 

VNPT ready to launch mobile money service – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Việt Nam Posts and Telecommunications Group is ready to join the rising global e-payment trend. — Photo xahoithongtin.com.vn Viet Nam News HÀ NỘI — Việt Nam Posts and Telecommunications Group (VNPT) proposed launching mobile money services to allow customers to use their telecommunications accounts to pay for goods and services.  The proposal was made in the group’s meeting with Deputy Prime Minister Vương Đình Huệ last week. Electronic payment via mobile phones (mobile money) is a rising global trend and an inevitable eventuality. In Việt Nam, the…

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Vietnam 

TCH plans to issue 1.2 million convertible corporate bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The financial services and investment firm Hoàng Huy Group plans to issue 1.2 million corporate bonds, worth VNĐ1.2 trillion (US$51.5 million), to raise capital for future business projects. — Photo vietnamfinance.vn Viet Nam News HÀ NỘI — Hoàng Huy Investment Financial Services JSC (TCH) plans to issue VNĐ1.2 trillion (US$51.5 million) worth of convertible corporate bonds in 2019 at the par value of VNĐ1 million ($43) for each bond. The bonds will mature in three years from the issuance date and the bond yield rate is set at…

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Vietnam 

Sacombank signs up PwC to create asset-liability management framework – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

PwC Vietnam and Sacombank sign an agreement in HCM City on Tuesday. — Photo courtesy of Sacombank Viet Nam News HCM CITY — Sacombank has hired PwC Vietnam to help upgrade its asset-liability management framework. This is expected to help the bank manage liquidity risk and interest rate risk by identifying risk thresholds scientifically, clearly and optimally, build a liquidity risk management framework to maintain adequate liquidity ensuring the bank operates safely and continuously in all possible situations and developing models to improve the quality of asset-liability management.…

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