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Strengthening linkages between FDI and domestic enterprises to support industry development

The processing and manufacturing industry is always the most attractive foreign direct investment (FDI) segment, accounting for 45 per cent of total registered investment capital. However, Vietnamese enterprises are stuck on the lower rungs in the global supply chain. FIA director general Do Nhat Hoang at the workshop According to data from the Foreign Investment ... Read More »

Exports of garment and textile hit US$31 billion

Despite facing difficulties, the garment and textile sector is expected to export products worth US$31 billion this year, a year-on-year increase of 10.2%, and the outlook is bright for next year too, the Vietnam Textile and Apparel Association (VITAS) has said. Speaking at a press briefing in HCM City to review the sector’s performance this year and draw up strategies ... Read More »

Notorious Chu Lai Soda closing might cost $90 million for bankers

Banks, including state-owned Bank for Agriculture and Rural Development (Agribank), are worried that Chu Lai Soda Processing JSC (Chu Lai Soda) will default on its VND2 trillion ($88.1 million) debt as the soda processing factory has been forced to suspend its operations since August 2016 due to violations in discharge, according to newswire Baolaodong. Chu Lai Soda has been suspended ... Read More »

Thousand billions in lost tax from foreign enterprises

Vietnam has lost thousands of billions of dong in taxes as foreign enterprises, especially large-scale ones, refuse to pay based on the Double Taxation Avoidance Agreement. The authorities are looking for ways to enhance tax collection from foreign enterprises Massive revenue without having to pay taxes The Ho Chi Minh City Department of Taxation has recently issued an ultimatum for ... Read More »

Vietnam’s e-commerce market booming

Viet Nam is one of the world’s fastest growing e-commerce countries, Lai Viet Anh, deputy director of Viet Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade, said. A person hunts for sales online during Black Friday. “The country’s e-commerce market is growing 35 per cent per year, 2.5 times faster than Japan,” Anh said. ... Read More »

Hundred-million dollar projects from the dawn of FDI attraction

Not long after Vietnam’s Law on Foreign Investment came into effect in 1987, the food and beverage processing industry emerged as a potential sector with many hundred-million dollar projects. During approximately 30 years of business, many of them have been developing sharply, contributing to Vietnam’s socioeconomic development.  Heineken Vietnam Brewery Heineken Vietnam Brewery Limited Company (Heineken Vietnam Brewery), was established ... Read More »

Vietnam to sell 900,000 tonnes of alumina to UAE

The Vietnam National Coal and Mineral Industries Corporation (Vinacomin) has signed a contract to supply alumina to Emirates Global Aluminum (EGA) from the United Arab Emirates (UAE) for three years from 2018-2020. Vietnam to sell 900,000 tonnes of alumina to UAE Under the contract,Vinacomin will supply 300,000 tonnes of alumina per year for the EGA in three consecutive years as ... Read More »

Urgent measures taken to respond to EU’s warning on IUU fishing

The Directorate of Fisheries (DoF) held a national conference in the central coastal city of Da Nang on December 15 to push urgent measures to counter the European Commission (EC)’s “yellow card” on illegal, unreported and unregulated (IUU) fishing. Vietnam is taking measures in response to EU’s warning on IUU fishing Nguyen Thi Phuong Dung, head of the DoF Department ... Read More »

More effort asked for stronger logistics industry

“It is necessary to make more effort and measures to improve competitiveness of Vietnamese logistics firms.”, said Minister of Industry and Trade Tran Tuan Anh at the Vietnam Logistics Forum 2017 in Hanoi on December 15. In his speech, the minister noted that logistics should be considered as an “infrastructure service sector”, adding that the domestic industry is facing heaps ... Read More »

Danang calls for $68m investment into high-tech agriculture

The central city of Danang is calling for an investment of VND1.5 trillion (USD68 million) into the development of high-tech agriculture.  The forum in Danang to seek high-tech agriculture investments. On December 15, Danang held a forum to seek high-tech agriculture investments. At the event, experts said that Vietnam is among countries which have been hardest hit by natural disasters, ... Read More »