Vietnam 

Foreign currency lending abolished – impact on enterprises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The end of lending in foreign currencies will not affect the revenue and profit of enterprises. — Photo cafef.vn HÀ NỘI — Enterprises can borrow money in Vietnamese đồng (VNĐ) and then purchase foreign currency for payment when they need the capital to import input materials, say commercial banks. According to Circular 42/2018 issued by the State Bank of Việt Nam (SBV), short-term foreign currency loans to exporters who need to import goods and services in order to implement goods production and trading plans serving domestic needs were stopped on…

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Vietnam 

Enterprises need better branding to compete in int’l market – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Việt Nam Dairy Products (Vinamilk) booth at an F&B exhibition in Thailand. Vinamilk is one of  major Vietnamese brands to have sucessfully expanded its brand in foreign markets. — VNS Photo Bồ Xuân Hiệp  HCM CITY — Vietnamese enterprises must develop globally competitive brands if they want to succeed internationally, speakers said at a conference on domestic trademarks held in HCM City on Saturday. Economist Lê Đăng Doanh said that most Vietnamese farm produce and seafood exported through unofficial channels had no brand names and thus suffered from low export prices.  “A strong and competitive economy has many large businesses with strong international…

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Vietnam 

Experts urge Vietnamese enterprises to protect their IP – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Denis Croze, director of the regional office of the World Intellectual Property Organisation  (WIPO) in ASEAN, shared about reliable platforms to register trademark protection. VNS Photo Minh Thu   HÀ NỘI — Vietnamese designs and trademarks are being violated abroad as firms don’t pay enough attention to registering their intellectual property (IP), a top official has said. Vũ Tiến Lộc, President of the Vietnamese Chamber of Commerce and Industry (VCCI), made the statement at the one-day ‘Protecting Designs and Trademarks for Vietnamese Enterprises’ conference yesterday in Hà Nội. “Vietnamese…

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Vietnam 

Enterprises urged to prepare for escalating US-China trade war – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Phạm Sỹ Thành, director of the Việt Nam Centre for Economics and Policy Research’s China Economic Research Programme, speaks at a conference on the US-China trade war held yesterday in HCM City. VNS Photo Bồ Xuân Hiệp HCM CITY — Vietnamese exporters have been urged to prepare for any trade-related lawsuits and disputes arising from the escalating US-China trade war amid concerns that the two major powers will not reach an agreement at a meeting in Japan this month. According to Trần Du Lịch, vice chairman of the Việt Nam International Arbitration Centre (VIAC),…

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Vietnam 

European enterprises back early signing of EVFTA – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Minister of Industry and Trade Trần Tuấn Anh (standing) at the meeting with European business associations and organisations on June 18. — VNA/VNS Photo Kim Chung BRUSSELS — Minister of Industry and Trade Trần Tuấn Anh on Tuesday discussed measures to speed up the signing of the Europe-Việt Nam economic agreements with European business associations. At the meeting, the minister provided relevant information about the agreements between Việt Nam and the EU, which are the EU-Việt Nam Free Trade Agreement (EVFTA) and the EU-Việt Nam Investment Promotion Agreement (EVIPA). He told…

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Vietnam 

Enterprises need policies for digital economy – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Experts discuss solutions for the development of enterprises and the digital economy at a forum on business development held in Hà Nội on Tuesday. VNA/VNS Photo Thạch Huê    HÀ NỘI — Enterprise development and the digital economy need to be prioritised in policies, said Deputy Chairman of Việt Nam’s Committee for State Capital Management Hồ Sỹ Hùng. Speaking at a forum on business development held by the Institute for Brand and Competitiveness Strategy in Hà Nội on Tuesday, Hùng said domestic enterprises are still small with limited production capacity. “Enterprise…

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Vietnam 

Trade agreement to boost exports of micro, small and medium-sized enterprises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Speakers at the APEC capacity-building workshop on the Trade Facilitation Agreement of the WTO for micro, small and medium sized enterprises. — VNS Photo Bồ Xuân Hiệp HCM CITY — The World Trade Organisation (WTO) Trade Facilitation Agreement (TFA) will help micro, small- and medium-sized enterprises (MSMEs) further diversify exports and expand markets, as well as improve GDP growth in Việt Nam, experts said on June 13 at a seminar held in HCM City.   Representatives from APEC-member economies, including government officials, MSME policy-makers, the private sector, and MSMEs discussed the benefits of the agreement at a…

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Vietnam 

FDI enterprises in massive tax arrears – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Enterprises complete customs procedures. HCM City has listed businesses that have not paid huge tax debts. — Photo cafef.vn HCM CITY — The HCM City Depatment of Customs has listed 1,000 businesses that have not paid tax worth trillions of đồng, including foreign direct investment (FDI) firms. Some of the companies were well in arrears, such as NIVL Joint Stock Company that owed VNĐ150 billion (US$6.45 million), excluding penalties for late tax payments over a number of years, the department said. The FDI firm received its investment licence in 1998, but the owner had left the…

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Vietnam 

Vietnamese enterprises seeks export opportunities in China – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnamese and Chinese firms meet a a recent event in Hà Nội to exchange business opportunities. — Photo moit.gov.vn HÀ NỘI — Forty Vietnamese enterprises will join a business trip to explore export opportunities in the Chinese cities Nanning and Kunming from June 10-13, the Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade has announced. The firms include dairy producer Vinamilk, Bà Rịa Vũng Tàu Seafood Processing Import Export Co, Liên Việt Group, Tiền Giang Food Co and Friesland Campina Việt Nam. The trip is part of…

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Some 85 per cent of VN enterprises remain outside of Industry 4.0 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Nguyễn Đức Thành, director of the Việt Nam Institute for Economic and Policy Research (VEPR) addresses the Launching Conference of Việt Nam Annual Economic Report 2019 co-organised by VEPR and the Friedrich Naumann Foundation (FNF) Việt Nam in Hà Nội on Wednesday. — VNS Photo Linh Anh HÀ NỘI — As many as 85 per cent of industrial enterprises in Việt Nam still lag behind the fourth Industrial Revolution (Industry 4.0), and only 13 per cent are at the beginner level, one official has warned. Nguyễn Đức Thành, director…

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