Vietnam 

HCM City promises to resolve difficulties faced by business sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A production line of a company at HCM City’s Tân Thuận EPZ. — VNS File Photo. HCM CITY — Erratic planning and other problems related to land use is hurting the business sector, according to the HCM City Department of Industry and Trade. The city has for long had a policy of shifting factories from residential areas in the inner city, but does not tell them to relocate to industrial parks (IPs) or export processing zones (EPZs). So, over the years, many have obtained licences from authorities to build factories…

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China 

Chinese Premier Li Keqiang promises to open economy further to foreign investors as trade talks get underway

Chinese Premier Li Keqiang said that China will reduce the number of industries closed to foreign investment before the end of June, in remarks coinciding with the start of the latest high-level trade talks between China and the United States in Beijing this week.At the opening ceremony of the annual Boao Forum for Asia in China’s southern island province of Hainan on Thursday, Li said the government will reform its free-trade zone foreign investment entry negative list, its catalogue of… Source link

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Money 

Beijing promises wider financial access for foreign investors as US-China trade war talks enter crucial stage

China continued its charm offensive for foreign investors, renewing promises to open its state-controlled financial services sector further and ensure equal treatment.The latest move came as the talks between China and the United States have entered a crucial stage, with the remaining sticking points in the text of a trade agreement expected to be discussed when US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin visit Beijing on Thursday.Chinese Vice-Premier Liu… Source link

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Vietnam 

Prime Minister promises optimal conditions for US enterprises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – The Vietnamese Government would create optimal conditions for US enterprises to invest successfully in Việt Nam and was willing to listen to their recommendations to improve the local business environment, said Prime Minister Nguyễn Xuân Phúc. While receiving a delegation from the US-ASEAN Business Council (USABC), led by its president and CEO Alexander Feldman, in Hà Nội on Thursday, PM expressed his belief that the delegation’s visit would contribute to promoting economic, trade and investment relations between Việt Nam and the US. He…

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China 

‘We will keep your secrets’, China promises foreign companies with new law

Chinese officials will be obliged to protect commercially confidential information they obtain from overseas businesses, according to the latest draft of China’s new foreign investment law. Delegates to the National People’s Congress in Beijing were presented with the new version on Tuesday, after last week’s version received a lukewarm response from foreign businesses and academics in China. Provisions have been added to the legislation which make clear that Chinese government employees must… Source link

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Home 

Facebook CEO Mark Zuckerberg promises a more privacy-friendly company, sort of

Mark Zuckerberg said Facebook will start to emphasise new privacy-shielding messaging services, a shift apparently intended to blunt both criticism of the company’s data handling and potential antitrust action.In effect, the Facebook co-founder and CEO promised to transform a service known for devouring the personal information shared by its users.Going forward, he said, it will emphasise giving people more ways to communicate in truly private fashion, with their intimate thoughts and pictures… Source link

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China 

China raises 2019 budget deficit target on promises of tax cuts and infrastructure spending to stem slowdown

China’s government has lifted its 2019 budget deficit target to 2.8 per cent of gross domestic product (GDP) from last year’s 2.6 per cent, giving Beijing more room to step up tax cuts and increase infrastructure spending to stabilise its sagging economy, Premier Li Keqiang said in his annual work report.Business and personal taxes would be cut by 1.3 trillion yuan (US$194 billion) this year, more than the 1.1 trillion yuan in last year’s cuts, the premier said.The government will cut the value… Source link

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Home 

As Foxconn changes US manufacturing plans, job promises fall short

It has been 18 months since Foxconn Technology Group, the world’s largest electronics contract manufacturer, announced to great fanfare that it was building a US$10 billion factory to make television screens on farmland in southeastern Wisconsin in the United States. The plan was as big as it was audacious: Fuelled with billions in taxpayers subsidies, the Taiwanese company, formally known as Hon Hai Precision Industry, would build a 22 million square-foot campus, filled with 13,000 highly paid workers. In the process, it would transform the sleepy village of Mount Pleasant,…

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Home 

Shanghai promises more open economy, tax cuts amid expectations of slowest economic growth since 1990

Shanghai, which is expecting its slowest economic growth this year since 1990, on Sunday pledged to further open up its market to global investors. The city, mainland China’s main economic hub, will also ease the tax burden on businesses to combat a slowdown. Mayor Ying Yong told an annual session of the Shanghai People’s Congress that the city expected its gross domestic product to expand at a rate between 6 per cent and 6.5 per cent in 2019, lower than the 6.6 per cent growth it recorded last year. This…

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Vietnam 

Lotte promises best places to live in Viet Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

PM Nguyễn Xuân Phúc (right) met South Korea-based Lotte Group’s Chairman Shin Dong-bin yesterday. — VNA/VNS Photo Thống Nhất Viet Nam News  HÀ NỘI – The South Korean conglomerate Lotte Group’s chairman Shin Dong-bin hopes Lotte’s eco smart city projects will become the best places to live in Việt Nam. Speaking at a meeting with the Prime Minister Nguyễn Xuân Phúc on Tuesday, Lotte Group chairman said his visit to Việt Nam this year was to examine…

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