Business News

The Government of Vietnam has issued a decree to revise import tariffs under the ASEAN-Korea Free Trade Agreement (AKFTA) in the 2022-2027 period. Under Decree No. 81/2024/ND-CP, goods such as live animals, meat, and meat by-products intended for consumption post-slaughter will now enjoy a zero percent AKFTA tariff.

Viet Nam needs a long-term development strategy for the logistics industry. “A development strategy to 2035 with a vision to 2045 will link logistics with the development of goods production, import and export, transport infrastructure and information technology in a sustainable, modern and efficient direction,” Hải said.

Accelerating digital transformation in logistics is critical in order to promote the sustainable development of e-commerce, a conference on applying technology held by the Ministry of Industry and Trade heard on Thursday, as well as accelerating overall economic growth.

The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.

The serious electricity shortage in the northern region in May-June 2023 is a valuable lesson on the importance and pivotal role of ensuring electricity security for socioeconomic development.

Although infrastructure development in Vietnam’s biggest cities is gradually helping to bolster real estate in neighbouring areas and push up prices, investors are advised to remain cautious and take local livelihoods into account.

Many shipping companies have increased their terminal handling charges (THC) at ports, resulting in losses for Vietnamese cargo owners, who claimed the increases were not communicated clearly and fairly. Cargo firms have called on the Vietnam Maritime Administration to step up efforts in monitoring fees and surcharges collected by international shipping companies, which has been said to cut into their profit unfairly.

After a prolonged wait, the government issued Resolution No.98/2023/QH15, a sweeping initiative to steer Vietnam back towards prosperity. However, the pressing question lingers: will this ambitious vision result in tangible changes for the average Vietnamese citizen? The path forward remains laden with uncertainties.