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 

Ministry warns about inefficiency at State-owned Licogi – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

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Vietnam 

Ministry to transfer five enterprises to SCIC in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade will transfer State capital ownership representative rights in five enterprises to the State Capital Investment Corporation (SCIC) in the first quarter of this year. They included the Việt Nam Steel Corporation, the Foreign Trade Freight Forwarding and Warehousing Joint Stock Company, the Việt Nam Agricultural Products Joint Stock Company, the Construction and Import-Export Joint Stock Company and the Construction Investment and Building Materials Joint Stock Company, according to the ministry’s recently-issued Directive No 3/CT-BCT. The move…

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Home 

Singapore reports lowest GDP growth in two years as trade ministry warns manufacturers may be vulnerable

Singapore’s economy grew at its slowest pace in more than two years in the fourth quarter, data showed on Friday, and the city state’s trade ministry warned that manufacturing is likely to face significant moderation this year. Weakening growth momentum for Singapore’s open economy – a hi-tech manufacturing base and transportation hub – underscores the risks to Asia’s export economies from a slowdown in China and Beijing’s trade war with Washington. Singapore’s growth pace is expected to slow in 2019 as manufacturing “is likely to see a significant moderation,” trade…

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Vietnam 

Ministry of Transport to accelerate North-South Expressway project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể.— Photo vietnamfinance.vn HÀ NỘI — The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể. He said the ministry had approved a feasibility study of 11 sub-projects of the North-South expressway project since October last year and was in the process…

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Vietnam 

Ministry urges supervision on certification for electric bikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Officers inspect an electric bike store. — VNA/VNS Photo Vũ Sinh Viet Nam News HÀ NỘI — The Ministry of Industry and Trade has urged supervision to be enhanced on certificates of origin for Vietnamese electric bikes. The warning over origin fraud was raised after Việt Nam’s electric bike exports to the European Union (EU) increased sharply after the European Commission (EC) imposed anti-dumping tariffs on products from China. According to the ministry’s Trade Remedies Authority of Việt Nam, the EC issued a decision on the imposition…

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Vietnam 

Ministry allows exports of iron ore bought from Quý Xa Mine – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade has given the green light to three firms to export a total volume of 340,000 tonnes of limonite iron ore which they previously bought from Quý Xa Mine of Việt-Trung Metallurgy and Mineral Company Limited in the northern province of Lào Cai. Accordingly, Minh Đức Mining Joint Stock Company is allowed to export 200,000 tonnes, Lan Anh Construction Company Limited 70,000 tonnes and Hoàng Lan Trading Company Limited 70,000 tonnes. In December, the three companies…

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China 

Chinese finance ministry and central bank on same page on growth after Xi warns of risks to economy

China’s economic ministries are ratcheting up efforts to put stimulus steps to arrest the slowdown into effect as the trade war with the United States takes its toll. Ministries responded after China reported its lowest annual growth rate in 28 years in 2018, and after President Xi Jinping issued a warning about the dangers facing the world’s second largest economy. At a meeting with hundreds of provincial and department cadres on Monday, Xi said the country must fend off the risks that “black swans” – unexpected events with major economic…

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Vietnam 

Ministry of Planning and Investment prepared to respond to economic changes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Planning and Investment (MPI) will keep track of the economic changes in the domestic and the world markets, and strengthen its role as a Government advisory body to help ensure the success of the national targets set for this year. This statement was made by Minister Nguyễn Chí Dũng on Wednesday during an online conference reviewing its work in 2018 and setting tasks for the next 12 months. Attending the meeting, Deputy Prime Minister Vương Đình Huệ applauded…

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Vietnam 

Trade ministry to inspect big firms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade (MoIT) will conduct annual inspections on a number of State and private businesses in different sectors, including those involved in petroleum, telecommunications, pharmaceuticals and multi-level marketing. Minister Trần Tuấn Anh signed the inspection plan for 2019. The ministry’s inspectors and related departments will inspect 245 business and business units including many big names. MoIT inspectors will examine the Leather and Shoe Research Institute, the National Research Institute of Mechanical Engineering, Việt Nam-Hungary Industrial University, Industrial…

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