About 27,000 pawnshops exist in Vietnam

According to the Ministry of Public Security, there are 26,942 pawnshops in Vietnam, with nearly 40,500 employees. Over 11,300 pawnshops have been found to be involved in black credit services.

In 2021, a total of 1,047 criminal cases related to black credit were detected, involving 1,718 people. As many as 554 cases were prosecuted and 375 were handled administratively. Regarding usury, the police prosecuted 539 cases.

Hao Hao and De Nhat instant noodles recalled in France

According to French authorities, the two products have been recalled for containing a number of substances exceeding the permissible limit, affecting the health of consumers. Specifically, they contain 2-chloroethanol (2-CE) that exceeds the permissible limit according to standards of the European Union. The French authorities requested the recall to be completed before January 31, 2022. The recalled batches in France have expiry dates in March, May, August and September 2022.

Environmental protection tax on jet fuel of VND1,000 proposed

The environmental protection tax reduction for jet fuel should be reduced to VND1,000 per liter and should be applied in 2022, according to the Vietnam Chamber of Commerce and Industry (VCCI)'s proposal to the Ministry of Finance.

According to VCCI, the complicated development of Covid-19 in 2021 has negatively affected the aviation industry, so it is necessary to reduce the environmental protection tax rate on jet fuel to support the industry during post-pandemic recovery.

This rate is lower than the Ministry of Finance’s plan of VND1,500 per liter (50% reduction compared to the current level of VND3,000 per liter).

FDI in Vinh Phuc exceeds US$1 billion

 

Total foreign investment capital of FDI projects in the northern province of Vinh Phuc has reached US$1,015 billion so far this year, up 50% year on year, despite the prolonged epidemic.

So far this year, the province has licensed 35 FDI projects with total investment capital of $880 million and allowed operational FDI projects to increase their investment capital, totaling $135 million. This is a record number compared to the milestone of $1,160 billion in 2019.

Currently, the province gives priority to investment in the fields of ICT, digital, nanotechnology, biotechnology, new environmentally friendly materials, electronic industry, telecommunications, and mechanical industry.

Vietnam's labor productivity is equivalent to 7.6% of Singapore's

Bui Quang Tuan, Director of the Vietnam Institute of Economics, said that although Vietnam's labor productivity has improved, it still lags behind and is low compared to other countries in the region.

Specifically, Vietnam's labor productivity in 2019, at current prices, reached VND110.5 million/worker ($4,792/workers), only 7.64% compared to that of Singapore; nearly 20% of Malaysia; nearly 38% of Thailand and nearly 46% of Indonesia, according to the World Bank's assessment.

PV

VIETNAM BUSINESS NEWS DECEMBER 8

VIETNAM BUSINESS NEWS DECEMBER 8

Virtual Vietnam Foodexpo 2021 opens  

 
 

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Low labour costs, a geographical location close to Asian supply chains, and Japan and the Republic of Korea (RoK)'s efforts to promote greater overseas investment are considered as three factors in boosting Vietnamese foreign direct investment (FDI).

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Vietnamese banks’ charter capital surged in 2021
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Banks increased their charter capital by more than VND110 quadrillion in 2021 - the highest annual growth to date - to enhance financial strength and meet the central bank’s regulations.

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Vietnam has become the first Southeast Asian nation to earn over 1 billion USD from exporting goods to Hungary and the European country’s leading exporter from this region since 2000, according to the Ministry of Industry and Trade.

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As of December 31, 2020, Vietnam counted 683,600 operational enterprises, up 35.3 percent from 2016, the 2021 economic census revealed.

Hanoi to welcome launch of 26,000 apartment units in 2022: C&W Vietnam
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Laos top recipient of Vietnam’s overseas investment
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Laos has been the largest recipient of Vietnam's overseas investment so far, with 209 projects totalling 5.1 billion USD in registered capital, Minister of Planning and Investment Nguyen Chi Dung has said.

 
 
 
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