vietnam business news

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Strong FDI inflows put pressure on recruitment

Demand for labor in Vietnam’s manufacturing sector is rising sharply due to strong FDI inflows as a result of the transfer of orders and China-based facilities into Vietnam during the ongoing U.S.-China trade war.

 

Loopholes discovered in country of origin labeling rules

Regulations on country of origin labeling in Vietnam have raised public concern as the legal system does not regulate the kinds of import items that can bear “Made in Vietnam” labels.

 

Foreign-invested firms eyeing up stock listings

Vietnam plans to launch new rules that make it easier for foreign-invested enterprises to list on domestic stock markets, amid necessity to draw in international capital. 

Build-operate-transfer ventures look for boost

While awaiting creation of a comprehensive legal framework, build-operate-transfer transport initiatives across the country continue to seek new funding from cautious lenders.

 

PM issues socioeconomic development plan by 2020

The Prime Minister has issued Directive No. 16/CT-TTg on developing the Socio-Economic Development Plan and the State Budget Estimates by 2020, with GDP to reach 6.8 per cent.

Vietnam furniture firm targets smaller loss in 2019

Truong Thanh Furniture Corporation (Truong Thanh) expects its losses to reach VND588 billion (US$25.3 million) in 2019, heard the firm’s annual shareholder meeting on Monday.

 

Vietnam attracts less FDI in first half of the year

Foreign investors registered to pour US$1.73 billion into Viet Nam in June, bringing the total amount of foreign direct investment (FDI) committed to the country in the first six months of the year to $18.47 billion, down 9.2 per cent year on year.

Starting business in the digital technology era

Today, technology can almost meet all needs of human life, opening up many opportunities for startups in artificial intelligence. To get hold of its benefits, enterprises need to arm themselves with knowledge to embrace the future.

BUSINESS NEWS 26/6

Deputy PM urged ministries and localities to fight against IUU fishing

Vietnam spends billions on auto spare part imports

Vietnam has continued spending billions of US dollars on importing auto spare parts as the local car industry failed to achieve it's localisation targets.

Rice exports face tough time amid huge global supply

With an abundant global supply and high inventory in major exporting countries, Vietnam is expected to struggle to secure exports of rice in the second half of the year, speakers said at a conference held in HCM City on Monday.

 

Foreign investors to reset Vietnam’s fintech market

The number of fintech companies have increased rapidly in Vietnam in recent years as the industry has high growth potential while the government encourages cashless transactions.

 

Russian automaker KamAZ to operate in Viet Nam next year

Russian automaker KamAZ plans to re-open its automobile assembly factory in Viet Nam by 2020, said CEO Serge Kogogin with Russia's news agency Sputnik on Sunday.

 

E-wallets’ latest converts: HCM City street vendors

From morning to early afternoon Nguyen Van Chiem in HCM City’s District 1 is bustling with food vendors selling breakfast and lunch and customers coming to eat.

 

Vietnam sends biggest ever trade promotion delegation to South Africa

A Vietnamese trade promotion delegation that includes 22 local businesses from five localities is visiting South Africa from June 21 – 29, seeking partnerships and export opportunities.

 

Korea Eximbank opens 2 billion USD credit line to PetroVietnam

The Export-Import Bank of Korea (Korea Eximbank) has said that it has agreed to open a 2 billion USD credit line to Vietnam’s PetroVietnam in a bid to help more Korean companies venture into the fast-growing economy.

 

PM requests investigation into Asanzo’s alleged faked made-in-Vietnam products

PM Nguyen Xuan Phuc has requested the Ministry of Finance and other government agencies to verify whether electronics firm Asanzo has been selling Chinese goods disguised as made-in-Vietnam, local media reported.

Vietnam posts highest-ever power consumption due to hot waves

The peak power output (Pmax) hit 38,147 MW on June 21, the highest figure recorded in Vietnam so far.

Foreign capital flows through Vietnamese banks

 As capital demands of Vietnamese firms are rising sharply, local banks are increasingly cooperating with foreign financial institutions to provide offshore loans, making the business become lucrative.

Vietnam’s investment arm SCIC to sell state stakes in 108 firms

The Vietnamese government’s investment arm State Capital Investment Corporation (SCIC) has announced the list of 108 state-owned enterprises (SOEs) subject to divestment in 2019, Vietnam Finance reported.