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Tag Archive for ‘Europe’

EU Continues To Offer Vietnam Import Tariff Incentives

The European Union (EU) has announced a new Generalized System of Preferences (GSP) for developing nations, including Vietnam, which will come into force on January 1, 2014. The European Parliament and the European Council have passed the revised GSP with import tariff incentives, reduced or zero tax rates, and import criteria that are favorable to […]

Vietnamese Tire And Inner Tube Makers In Tougher Competition

As the competition in the local tire and inner tube market gets fiercer, local manufacturers now find it really difficult to fight for their shares with foreign-invested companies using higher technology, a local industry source said. Nguyen Quoc Anh, chairman of the HCMC Rubber and Plastics Association, told a conference in HCMC on Wednesday that […]

Europe plans more investment in Vietnam: survey

More European companies plan to increase their investments in Vietnam amid concerns about economic conditions and revenues, a new survey found. The European Chamber of Commerce in Vietnam (EuroCham) said 39 percent of respondents aim to expand their business in Vietnam, up seven points from the previous three months. There has also been a decline in the number of companies planning to reduce investments “‘significantly” in 2012, from 20 percent to 13 percent. “This shows a change towards businesses’ plans to invest in Vietnam,” the group said. The number of companies that are looking to…

Petrol traders in Vietnam ordered to stop abusing stabilization fund

HA NOI (VNS)— Domestic retail prices for petrol and oil will remain unchanged, while petrol traders have been asked to stop using the fuel stabilization fund as they are making profits from petrol, the Ministry of Finance has said. The ministry sent the requirement to petroleum wholesale traders, saying the difference between base price and retail price showed that they made profits of VND31 per litre for A92 petrol and VND248 per litre for mazut. Kerosene and diesel made losses of VND464 and VND297 per litre respectively. However, if the traders used…

Brent Slips Below $107; Market Frets About US, Europe

Brent December crude rose slightly in very choppy trading on Thursday, recovering from a steep plunge in the previous session, but held back by trepidation over Europe’s economy and approaching U.S. tax increases and spending cuts. Crude oil’s rebound came after Brent futures dropped nearly 4 percent and U.S. crude slumped almost 5 percent on Wednesday as problems facing European and U.S. economies applied pressure, along with data showing rising oil stockpiles in the United States. Wall Street eased lower despite the release of positive economic data, as investors prepare for heated negotiations in Washington to avoid the “fiscal…

Vietnam Moves on Oil Refinery and Nuclear Plant

Vietnam said it agreed with foreign investors to begin construction of a long-delayed oil refinery, while also stepping up plans to build the country’s first nuclear-power plant jointly with Russia. Until recently the developing Asian nation was favored by global investors, but they’re increasingly uneasy as confidence is undermined by surging inflation, corruption scandals and […]

Oil Tumbles 4% on Global Growth Worries

Brent crude fell nearly 4 percent on Wednesday as problems facing the economies of the United States and Europe darkened investor sentiment a day after the re-election of U.S. President Barack Obama. Lopping off Tuesday’s U.S. election day gains, crude fell faster than the Dow Jones Industrial average, which was off more than 2 percent. […]

Hedging China risks, Japan firms turn to booming Southeast Asia

PHNOM PENH – Hiroshi Uematsu had a tough start in Cambodia, where he heads an economic zone that aims to attract business from his native Japan. He arrived just before the global financial crisis sent the Asian economic minnow’s exports into a tailspin and dried up investment interest. Now, though, business is looking up. About a third of the lots on the 365-hectare (900-acre) site on the outskirts of the capital Phnom Penh remain vacant and overgrown…

Vietnam PM promotes peace at ASEM summit

VIENTIANE (VNS)— Maintaining peace should be the priority of every country, so all disputes should be settled by peaceful measures when possible, Prime Minister Nguyen Tan Dung said yesterday during a discussion of regional issues under the framework of the ninth Asia-Europe meeting (ASEM). The world is transitioning into a new development period, which brings both new opportunities and security-related challenges, the Prime Minister said. He added that Viet Nam highly appreciates that Laos, as the host country for the 9th ASEM, chose the theme of “Friends for Peace, Partners for Prosperity…

EU Council president visits Vietnam to boost trade, political ties

European Council President Herman Van Rompuy and his wife visited Vietnam for the first time from October 31 to November 2 to further trade and political cooperation between the EU and Vietnam. Rompuy, the first full-time president of the council which is the most powerful unit of the 27-member European Union, arrived in Hanoi Wednesday after accepting the invitation of Vietnamese President Truong Tan Sang. The two agreed to…