vietnam business news

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At a loss over FTAs

The textile and garment industry may fail to take tariff advantage from the CPTPP and the Vietnam-EU Free Trade Agreement (EVFTA) as it cannot tackle the issue of local materials. 

Private airlines bring dynamism to Vietnam’s aviation industry

The foray of private airlines have brought dynamism to Vietnam’s aviation industry, according to Vu Tien Loc, president of Vietnam Chamber of Commerce and Industry (VCCI).

 

Vietnam’s government completes amending Securities Law

The Vietnamese government has finalized the amended draft Securities Law and submitted to the National Assembly (NA) for approval.

 

China’s capital outflow to continue with Vietnam at receiving end

Escalating US – China tensions are putting pressure on the Chinese yuan (CNY) and lead to further capital outflow, while Vietnam is expected to be at the receiving end of China’s outward FDI, according to Viet Dragon Securities Company (VDSC).

Taking aviation higher

The limitations plaguing Vietnam's aviation infrastructure need to be overcome to facilitate growth in the tourism sector.

BUSINESS NEWS 20/5

Banks should compete relying on their unique strength

 

EVN announces rooftop solar power buyback to promote renewable energy

Vietnam Electricity Group (EVN), the country’s sole power distributor, has announced to buy rooftop solar power from its customers in case they don’t use up the volume their solar panels produce.

Finance ministry to monitor suspicious securities transaction later this month

The Ministry of Finance (MoF) will closely monitor securities transactions showing irregularities from later this month, according to Bao Viet Securities Company (BVSC).

Ministry proposes environmental protection tax cut for biofuel

The Ministry of Industry and Trade said that it has proposed the Prime Minister to consider adjusting the environmental protection tax rate for biofuel in general and E5 RON92 ethanol gasoline blend in particular.

North-South expy project attracts 150 domestic, international firms

A seminar to promote investment in the North-South expressway project was organized by the Ministry of Transport on May 17, drawing interest from some 100 local firms and 50 international organizations and investors.

 

Vietnam PM to tour 3 European partners next week, partly for EVFTA

Vietnam’s Prime Minister Nguyen Xuan Phuc will make official visits to Russia, Norway, and Sweden on May 20-28 with an aim to boost strategic ties and speed up the ratification of the EU-Vietnam Free Trade Agreement.

Tra fish shipments to US, China fall

Shipments of Tra fish from the Mekong Delta to the US and China, two of the biggest buyers of the products, have dropped compared to the figure last year.

 

Magnetic ATM cards replaced with chips beginning May 28

Commercial banks in Vietnam will initially replace some 21 million magnetic ATM cards with chip cards beginning May 28, as the State Bank of Vietnam (SBV) has ordered issuing banks to convert their 75 million ATM cards to new chip cards.

 

OTAs finding favor

Online travel agencies (OTAs) in Vietnam are striving to capture the opportunities created by the country's booming tourism market.

PwC Digital Trust Insights Survey: Cybersecurity helps organisations outperform their peers

Organisations taking a business-driven cybersecurity approach to their digital initiatives achieve better outcomes and outperform their peers, according to PwC’s May 2019 Digital Trust Insights Survey.

EC to review yellow card on Vietnamese seafood in November

The EC has rescheduled a visit to Vietnam for November to review the country’s efforts to have the restrictive yellow card on its seafood products removed, instead of visiting in June as previously planned.

 

Legislators vacillating between ride-hailing and traditional taxi

The competition between ride-hailing firms and traditional taxi companies are causing a headache for legislators who are looking for a way to regulate disruptive business models in Vietnam.

 

Yuan devaluation: keep calm and carry on

The world is continuously changing with trade tensions between the US and China, the slowdown of the global economy, geopolitical risks, diseases, and climate change.  

Vietnamese businesses fear fallout of US-China trade war

Many Vietnamese enterprises are keeping a close eye on the escalating US-China trade war and have expressed concern about its possible adverse impact on their business.

 

Parallel import market distressed over Nhat Cuong Mobile

A string of local mobile phone stores have removed parallel smartphones from their websites as soon as Nhat Cuong Mobile’s head was arrested for smuggling.