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Tag Archive for ‘ASEAN’

FDI to Vietnam is mostly from Asia, with South Korea ranked first

The great advantages of Vietnam’s business environment and its membership in FTAs and the AEC have helped to attract many investors from Asia. The Ministry of Planning & Investment (MPI) report said that in the first eight months of the year, foreign investors pledged to invest $23.36 billion in Vietnam, an increase of 45 percent […]

Vietnamese manufacturers ‘forget’ food market for Muslims

The food market for Muslims is vast, with estimated value of $580 billion worldwide, but Vietnamese enterprises still have no business strategies to conquer the market. Nguyen Phi Van, franchise advisor to the Malaysian government, met with 10 Vietnamese businesses before they attended a trade fair in Thailand in early August. The businesses included well-known […]

Vietnam to see cut throat competition in petroleum market

Formerly a country that exported crude oil at low prices, Vietnam now produces petroleum products which can satisfy half of domestic demand. Vietnam’s oil refining industry is built based on two huge projects capitalized at multi-billion dollars – Dung Quat Oil Refinery and Nghi Son Petrochemical & Oil Refinery Complex. In 2009, the $3 billion […]

Low VAT rates in Vietnam benefit the rich more than the poor: World Bank

Despite widespread public opposition to raising VAT rates, a World Bank chief economist argues otherwise. Moving forward with tax reforms is important for Vietnam to ensure sustainable growth and macroeconomic stability.Vietnam’s tax-to-GDP ratio has fallen over recent years, from 23.5% of GDP in 2010 to 19.1% of GDP in 2015. This is mainly because of […]

Modern bond project launched to facilitate customs clearance in Vietnam

A project on customs bond was launched by the Global Alliance for Trade Facilitation (GATF) and the Vietnam Private Sector Forum (VPSF) on September 1, aimed at facilitating customs clearance in Vietnam. This is the start of the GATF Technical Assistance Project with the Government of Vietnam to provide a viable solution for the country […]

Foreign retailers ramp up investment in Vietnam

Earlier, numerous giants in the retail sector have entered the Vietnamese market and now, many of them are planning to enhance investment and expand their businesses to exploit market potential. Enhancing investment in Vietnam Recently, when talking with VIR, Yasuo Nishitohge, general director of AEON Vietnam Co., Ltd., said that Vietnam has great potential in […]

MoIT stake sale’s main lure: VEAM

The Ministry of Industry and Trade has announced plans to divest from six firms under its management from now until 2020, most notably, in this year’s sell-off of Vietnam Engine and Agricultural Machinery Corporation stock. Last week, a list of six firms slated for partial and complete divestment was released by the Ministry of Industry […]

Viettel to launch Myanmar 4G network

The Military-run telecom group, Viettel is expected to offer the world’s first 4G Only network in Myanmar in the first quarter of 2018, marking its first steps in the country. The joint venture – MyTel was granted a licence at the beginning of the year. However, Viettel has pursued the market since 2002. Viettel planned […]

Agricultural fair to open at Quảng Ninh

HÀ NỘI — The One Commune One Product (OCOP) agriculture trade fair will open on September 1 in the northern province of Quảng Ninh to promote local agricultural and tourism products in a bid to fully tap local potential for economic development. This will be the fifth time Quảng Ninh has organised the OCOP fair. […]

For an ASEAN economy of integration, high growth and sustainable development

2017 marks a significant milestone in the development process of the Association of Southeast Asian Nations (ASEAN), as the bloc celebrates its 50th founding anniversary. From a region divided by differing political stances, ASEAN has since become a unified bloc of solidarity, close bonds and friendship, with the participation of 10 countries in the region, […]