Vietnam has become the 10th largest trading partner of the US, while the US is also the largest trading partner of Vietnam. Vietnam is one of the first countries in Asia to sign a trade agreement with the US. It will also provide solutions that textile and garment companies in Vietnam need to adapt to market demands after COVID Fibre and yarn exports soared by Brands are increasingly focusing on materials that are both fashionable and environmentally friendly.
Cotton is a very good material for the environment. Industrial parks in the southern province of Dong Nai attracted 46 new foreign direct investment FDI projects worth Le Van Danh, deputy head of the Dong Nai Industrial Zones Authority, said during the period, the parks lured eight domestic projects with total investment of 1. Meanwhile, 94 valid FDI projects increased their capital by Dong Nai continues calling for large-scale projects that use high-tech and employ skilled labourers, and those operating in the support industry, Danh said.
During the three-day event, the businesses have introduced thousands of products and technologies in new and renewable energy and environment industries. According to the organising board, due to COVID impacts, along with the direct exhibition, the virtual exhibition is also available at www. This year, as part of efforts to implement the national programme on effectively and economically use of energy, Hanoi has applied a number of measures to improve energy efficiency.
So far, the city has saved over 1. VinFast, a smart electric vehicle EV manufacturer from Vietnam, officially put its headquarters in the US into operation on November 16 local time. Los Angeles and California state are also promoting their commitment to greening the transportation system, and this is a favourable condition for VinFast to realise its goal of becoming a global smart electric vehicle maker. The city is continuing to be at the forefront of making transport better, cleaner and more sustainable, he said.
Nguyen Thi Van Anh, CEO of VinFast US, said California in general and the Southern California region in particular are rapidly becoming the epicenter of the revolution in the transportation industry, where innovative ideas, talented and determined workforce to accelerate the electrification of vehicles are gathered.
Along with setting up the headquarters, VinFast US will open its offices, customer service centres, and a network of showrooms and service workshops in order to introduce electric vehicles to American consumers, and promote its future investment plans. This global premiere marks the official introduction of the VinFast electric vehicle brand to the North American market, with pre-order beginning in the first half of Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.
Vu Thu Nga, Deputy General Director of Deloitte Vietnam, held that a number of recent decrees as well as efforts in completing the legal corridor for the development of the supporting industry have brought about positive effects. However, a number of regulations have still shown limitations in the implementation process, requiring adjustments.
According to Nga, in order to help the sector thrive, it is necessary to apply preferential policies on outsourcing activities for industries prioritised for development, while reviewing and re-evaluating supply and value chains to add products of the supporting industry to the list of development priorities, and amending a number of regulations of relevant decrees to make them coherent with investment and tariff regulations.
At the same time, businesses should actively review their conditions to evaluate their eligibility to enjoy incentives, and clearly understand changes in policies and impacts on their chances to receive preferential policies, she said. Nga also advised businesses to report obstacles and difficulties facing them in the implementation of the policies and make proposals on new policies to the MoIT and business associations.
The Ministry of Agriculture and Rural Development MARD has been assigned to coordinate with relevant ministries and agencies to make agritourism development part of the National Target Programme on new-style rural area building in the period. Agritourism is expected to become one of the motivations for the creation of jobs and improvement of incomes for rural people, helping speed up rural economic structure shifting, preserve traditional cultural values and protect the environment.
Effective promotion of agritourism is hoped to contribute to making tourism a spearhead sector and strengthening sustainable rural development. So far, rural and ecological tourism has accounted for 10 percent of the global tourism sector with revenue of about 30 billion USD per year. The annual growth of agritourism is about percent, much higher than 4 percent of traditional tourism.
Currently, Vietnam has seen three forms of rural tourism — community-based tourism, farm tourism and ecotourism. The country has about agritourism destinations and more than 2, traditional craft villages with high potential for tourism development.
Enterprises, especially foreign-invested firms affected by the COVID pandemic, had their tax-related concerns cleared up by the Hanoi Department of Taxation during an online conference on November Enterprises and household businesses got an insight into policies and procedures regarding tax payment extension, tax exemption and reduction, and implementation of e-invoices. Last July, the department also responded to queries relating to taxes and administrative procedures, raised by nearly 17, firms through its website.
Agricultural product shipments reached nearly Exports of forestry and animal husbandry products earned Exports of aquatic products, meanwhile, declined 0. China came second, with 7. Japan ranked third with 2. A pitching day to promote trade connection between small medium-sized enterprises SMEs of Vietnam and the Chungcheong region of the Republic of Korea RoK took place both in face-to-face and online forms in Daejeon city on November Addressing the event, Vietnamese Ambassador to the RoK Nguyen Vu Tung expressed his belief that the event will contribute to expanding trade promotion activities and economic cooperation between the business communities of the two countries.
He emphasised that as one of the leading administrative — scientific — industrial centres in the RoK, the Chungcheong region gathers all favourable elements to pioneer in promoting trade and investment activities, and people-to-people exchange between the two countries.
As the COVID pandemic causes negative impacts on life, socio-economic situation, especially production and business activities of enterprises, the event is hoped to help connect and create market access opportunities for both Vietnamese and Chungcheong SMEs.
At present, a large number of Vietnamese expats are living, studying and working in the RoK locality. Cooperation and twinning activities between Chungcheong and Vietnamese localities are very substantive. In , the TJB also organised a similar event in the Chungnam region, which covers Chungcheongnam province, Daejeon and Sejong cities. Trade remedies have helped the domestic sugar production industry to recover and farmers to stabilise production, according to experts.
This has seen a rapid increase in sugar imported from Thailand. In , sugar imported from Thailand reached nearly 1. The sugar imported from Thailand with a large volume and low price has affected the domestic sugar production industry. This imported sugar volume has completely dominated the local market and forced the price of local sugar to drop to a low level.
The low price has forced farmers to reduce sugarcane cultivation and to switch to other crops, leading to a reduction in sugarcane growing area. Meanwhile, a high sugar inventory due to the lower sugar price has put factories at risk of stopping operation.
According to the association, after implementing ATIGA, Viet Nam had only 30 factories in operation and 11 factories were forced to close. Of the 30 factories in operation, 17 are running at a loss. About 3, workers have lost their jobs and 93, farming households have been affected due to difficulties in the domestic sugar industry.
Therefore, six sugar factories represented by the association have filed a request to apply anti-dumping and anti-subsidy measures to cane sugar products from Thailand. After a thorough investigation, the Ministry of Industry and Trade on June 15, imposed the anti-dumping duty of This slows down the unfair competition of Thai sugar for the domestic industry, thereby helping to increase the price of locally produced sugar. The purchase price of sugarcane from farmers has also increased from VND, to , per tonne.
This is an effective solution to gradually restore the raw material areas and reduce pressure on the domestic sugarcane businesses. Loc said that the trade remedies had reduced unfair competition of Thai sugar with local sugar products, thereby helping to increase the price of domestically produced sugarcane, saving a series of sugarcane factories and stabilising sugarcane production for farmers.
Now, if the market is stable, the sugar factories will recover and develop production in the next years. Chu Thang Trung, deputy director of the Trade Remedies Department, said that sugar production industry was one of the industries having regional and global market integration, so the industry knows that there are trade remedies that can be applied to protect the legitimate interests of the manufacturing industry.
Trung said that in the context of liberalisation and globalisation, more countries were reducing tariffs, especially when participating in free trade agreements. That reduces import taxes on many items and even completely eliminate them, creating more and more competition between imported goods and domestically produced goods. According to Trung, up to now, Viet Nam has conducted trade remedy investigations for 25 cases in total, including 15 anti-dumping cases, six self-defence cases, one anti subsidies case and two tax evasion cases.
Among them, most cases were for metal products such as steel and steel products. There is also a number of cases related to wood, sugar and some other items. Local authorities also welcome Singaporean investors in the fields of health care and renewable energy, particularly investing in station No. This could be the highest revenue in the operation history of Hoa Binh. In nearly 4 years, the firm came under the negative impacts of legal issues in the real estate market, pandemics, and raw material prices.
Profit declined in four consecutive years. The profit and revenue of the firm is expected as highest in its operation history. Profit after tax was VND 73 billion. Connect with us. Share Tweet. Fee reductions extended until June Related Topics: Vietnam business news. You may like. Published 17 mins ago on January 14, By TienphongNews. Continue Reading. Published 2 hours ago on January 14, Published 3 hours ago on January 14, Latest Popular Videos.
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