Vietnam 

VN’s supporting industries strive to improve – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese enterprises have the potential to participate in regional and global production value chains on par with the leading countries in ASEAN, because Việt Nam has been a top priority choice of multinational corporations. However, in order to realise this goal, in addition to their own efforts, businesses also need the support of the State. In the draft plan for sustainable development of Vietnamese private enterprises, the Ministry of Planning and Investment (MPI) aims to raise the rate of enterprises participating…

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Vietnam 

VN’s supporting industries strive to be best in ASEAN – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese enterprises have the potential to participate in regional and global production value chains on par with the leading countries in ASEAN, because Việt Nam has been a top priority choice of multinational corporations. However, in order to realise this goal, in addition to their own efforts, businesses also need the support of the State. In the draft plan for sustainable development of Vietnamese private enterprises, the Ministry of Planning and Investment (MPI) aims to raise the rate of enterprises participating…

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Home 

China should save less, stop protecting industries and liberalise instead, to unleash domestic consumption

In his influential 1954 article “Economic Development with Unlimited Supplies of Labour”, the future Nobel laureate economist Arthur Lewis concluded that “the central problem in the theory of economic development is to understand the process by which a community which was previously saving and investing 4 or 5 per cent of its national income or less, converts itself into an economy where voluntary saving is running at about 12 or 15 per cent of its national income or more”. That process, Lewis argued, “is the central problem because the central…

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Home 

As industries shift, retraining Hong Kong’s workers is key to staying competitive

Hong Kong’s economy has been changing fundamentally for many years. That the city’s dependence on manufacturing is tapering off is well documented: the sector employed 4.8 per cent of all workers aged 15 and over – or 167,400 people – in 2008, but 2.6 per cent – or 100,000 – in 2018, according to November’s “Quarterly Report on General Household Survey”. Less often discussed is the decline in the share of employment of the import/export trade and the wholesale industry (by 5.3 per cent) and the transport, storage, postal and…

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Global 

Jobs in China’s export-import industries wither in the heat of Washington’s trade war with Beijing

Demand for labour at China’s importers, exporters, and related manufacturers fell by 40 per cent in the last quarter of 2018 from a year earlier, showing the trade war with the US has taken its toll, a survey released on Friday revealed. The China Institute for Employment Research (CIER) at the Renmin University of China in Beijing found jobs in export-oriented regions, including Dongguan in the Pearl River Delta and Suzhou in the Yangtze River Delta, were hit hard. However, the decline in fourth quarter trade-related employment was slightly smaller…

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Home 

Emerging industries have transformed Nansha, the pearl of the Greater Bay Area

Besides outstanding development in artificial intelligence sector, taking abundant land resources and gorgeous supportive measures granted by its Free Trade Zone status, Nansha now is becoming a new powerhouse in the Greater Bay Area for emerging tech and innovation industries. Last year, nearly 6,000  high-tech enterprises were newly created their headquarters or branches in Nansha, where is only half an hour by high-speed train from Hong Kong. Late last year, Nansha announced a total of 30 billion yuan to fund its six strategic industries, including next generation of information technology,…

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Vietnam 

Coating, printing ink industries to maintain high growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Việt Nam’s coating and printing ink industries have had annual growth of 13-14 per cent in recent years and are expected to grow further, according to the Ministry of Industry and Trade. Speaking at a conference last week to introduce the Coatings Expo Vietnam 2019, Nguyễn Văn Thanh, director of the ministry’s Việt Nam Chemical Agency (VCA), said the growth rate of the two industries was higher than the average growth rate of the industrial sector. Nguyễn Thị Lạc Huyền, chairwoman…

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Vietnam 

Developing new technology industries in 4.0 era – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Nguyễn Thị Tuệ Anh, the Central Institute for Economic Management (CIEM) deputy director speaks at a seminar on the fourth industrial revolution and new technology industries in Hà Nội on Wednesday. — Photo bnews.vn HÀ NỘI — The Fourth Industrial Revolution is expected to create new technology industries which could drive Việt Nam’s economic growth, according to Nguyễn Thị Tuệ Anh, the Central Institute for Economic Management (CIEM) deputy director. The CIEM held a seminar on the…

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Vietnam 

Four key industries in HCM City see positive growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — HCM City’s Index of Industrial Production (IIP) in the first 10 months of the year increased by nearly 8 per cent compared to the same period last year, propped up by high growth of electronic equipment and machinery. Production in electronic equipment and machinery sector grew by 17.3 per cent while the mechanical sector increased 8.35 per cent, according to the city’s Department of Industry and Trade. The total export of electronic equipment reached US$7.94 billion, an increase of 17.6 per…

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Vietnam 

CPTPP to create impetus for textile, footwear industries – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement is expected to aid Việt Nam’s exports, especially textiles and footwear industries, when it takes effect, according to experts. One of the key contents of the CPTPP is the removal of 95-98 per cent of tariff lines as soon as the agreement enters into force. The remaining tariff lines will be cut over the next seven years, moves predicted to aid the growth and export turnover of the two industries. Việt Nam’s garment…

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