Update news VCCI

VietNamNet Bridge - National Assembly’s deputies described the government’s 2017 socio-economic development plan and the five-year economic restructuring project as ‘too ambitious’ and ‘out of reach’.

As wages increase, Vietnamese product competitiveness may weaken

Real wages in Vietnam have increased by 8 percent per annum, higher than the GDP growth rate, while regional minimum wages have increased by 12.2 percent per annum, higher than the labor productivity increase.

Should Vietnam take drastic measures to eliminate monopolies?

VietNamNet Bridge - The telecommunication fee in Vietnam has been decreasing sharply thanks to the policy on eliminating the monopoly in the telecom sector. However, monopolies still exist in other business fields.

Credit rises 8.54% by July 29

Credit rose 8.54 per cent by July 29 against late last year while mobilised capital surged 9.94 per cent, the State Bank of Vietnam reported August 11.

More businesses choose arbitration instead of going to court

The number of business disputes brought to commercial arbitration has been increasing steadily. Around 146 cases were resolved at VIAC (Vietnam International Arbitration Center) in 2015, while 80 cases were resolved in the first half of 2016.

Businesses with turnover under $25 million can't access loans

VietNamNet Bridge - Small and medium enterprises (SMEs) find it difficult to get capital from the stock market or banks. They have to pay more for capital costs, because they are not priority subjects in capital contribution.

Can Vietnam be a ‘startup nation’ if it prosecutes cafe owner for taking too long to file business registration?

A café owner was fined VND17 million and prosecuted because he took five days to file his business registration. Luckily, the prosecution was canceled after the Prime Minister’s intervention.

Vietnam spends more than it can earn

While total receipts of the state in the first four months of the year were VND317 trillion, total expenses reached VND370 trillion. The Ministry of Finance’s April report released on May 9 once again showed that the state budget is limited.

Trillion-dong takeover deals heat up Hanoi real estate market

Many incapable investors had to give up their projects as they could not survive the frozen market of the last few years. Now is the right time for financially powerful investors to take over these projects at reasonable prices.

Executive agencies urged to crack down on polluters

Vietnam has a good legal framework concerning environment pollution, but the environment remains polluted, and forests have been devastated and rivers poisoned with untreated waste water. 

Raising discount rates, digital signature providers ‘die together’

VietNamNet Bridge - A saturated market and stiff competition have forced certificate authorities (CAs) to slash service fees and offer a sky-high discount rate of 75-80 percent.

Aircraft maintenance center: Russia chooses Thailand, not Vietnam

VietNamNet Bridge - Vietnam is capable of meeting the requirements to establish an aircraft maintenance center, but it has not put forward the idea. 

The ‘Thai goods’ era’ has arrived

VietNamNet Bridge - Vietnamese manufacturers’ biggest rival is Thailand, experts say. The country exports a wide range of goods, from chicken to slippers, from cosmetics to electric cookers. 

Vietnam should reject ‘blacklisted’ investors: economists

VietNamNet Bridge - Economists have called on the government to be cautious when licensing foreign direct investment (FDI) projects, emphasizing that Vietnam should not attract FDI at any cost.

Garment exporters feel heat from regional rivals

VietNamNet Bridge - As orders have moved from Vietnam to Myanmar and Laos, many Vietnamese small- and medium-sized garment companies have had to shut down.

Thai billionaires pour more money into Vietnam

VietNamNet Bridge - The huge assets worth $40 billion owned by three Thai billionaires will become larger thanks to the market of 90 million Vietnamese.  

Ecotourism project could damage national park

VietNamNet Bridge - An ecological & spiritual tourism development project in Bach Ma could damage the national park, experts say. 

Old feature phones selling better than iPhones in Vietnam

VietNamNet Bridge - Reports from market survey firms all show that the sales of feature phones have been higher than those for medium- and high-end products.

6.7% GDP growth rate goal may be unattainable: economists

VietNamNet Bridge - Many unfavorable conditions may make the 6.7 percent GDP growth rate target in 2016 unattainable, economists say. 

SOEs holding ‘golden land’ sell at high prices

VietNamNet Bridge - A series of state-owned enterprises (SOEs) have been sold at sky-high prices as they hold large land plots in advantageous positions, known as ‘golden land’. However, the sales might make the enterprises less attractive.