Update news VCCI

 VietNamNet Bridge – Vietnam’s power consumption per capita is lower than many other countries, but it leads the countries in terms of the electricity waste.

High inventories hurt local companies

 VietNamNet Bridge – Businesses are struggling to sell products in the second-half of the year despite reports of decreasing inventories.

Chamber of Commerce faces probe

 VietNamNet Bridge – The Government Inspectorate will check on finance management at the Viet Nam Chamber of Commerce and Industry (VCCI), according to Deputy Chief Inspector Tran Duc Luong.

The failure of the bankruptcy law

People’s courts, management agencies, relevant institutions -- when asked about the 2004 Bankruptcy Law, have suggested amending 57 out of the 95 articles of the law, according to the Vietnam Chamber of Commerce and Industry.

Experts argue over minimum wage adjustments

 VietNamNet Bridge – The process involved in adjusting the minimum wage of workers has recently been under a lot of scrutiny from policy makers, public officials and labour experts.

Strengthening links between Vietnam, Russia and Belarus

VietNamNet Bridge – A number of important agreements on strengthening cooperation have been reached during working sessions for representatives from the Vietnamese, Russian and Belarusian Chambers of Commerce and Industry.

Mining industry needs increased transparency

 VietNamNet Bridge – Vietnam should implement the Extractive Industries Transparency Initiative (EITI) to fight corruption in the mining industry, currently representing over 10% of the nation’s GDP.

Vietnamese small businesses cannot grow up

VietNamNet Bridge – Vietnam lacks the medium size businesses which can act as the bridge connecting enterprises and join the global supply chain.

Business difficulties likely to continue

Enterprises believe the business climate will be difficult again this year and most of them are content to just survive rather than expand.

Ministry feels headache at budget revenue shortfall

 VietNamNet Bridge – The Ministry of Finance is facing a hard problem as the danger of central State budget collection shortfall has turned visible whereas local business community is calling for a cut in corporate income tax.

Thorny reforms yet to be done

The Vietnam Chamber of Commerce and Industry announced the 2012 Provincial Competitiveness Index after conducting a survey among thousands of enterprises for their views abut the governance at the provincial level.

Economic governance declines, reforms urged

VietNamNet Bridge – Analysis provided by the 2012 provincial competitive index (PCI) has revealed a sharp decline in economic governance across the country, leading to calls for local authorities to hasten reform. 

Associations not ready to help members

Many associations still neglect the needs of their members or find it hard to address such needs, heard a workshop on capacity of Vietnamese business associations held on Wednesday.

Business associations lean on State help

 VietNamNet Bridge – Many business associations in Vietnam are heavily relying on State assistance in finance, human resources and facilities to maintain their operations during the tough economic times.

Government promises tax breaks for businesses in 2013

VietNamNet Bridge - According to Deputy Prime Minister Vu Van Ninh, the Government will soon ask the National Assembly to reduce corporate income tax to below 25 percent.