Business News

At the end of the year, the government of the Mekong Delta province of Soc Trang will submit to the prime minister a proposal to upgrade the Tran De deep-water seaport in the province into an international port (IA grade), according to Soc Trang Vice Chairman Le Thanh Tri.

The Ministry of Construction has cut or simplified 85 per cent out of the 215 business and investment conditions, and eliminated five among the 17 conditional business lines.

Vina-Japan Shirogane Logistics Company Ltd on Thursday broke ground for a US$5.4 million logistics centre at the Phu My 3 Specialised Industrial Park in the southern province of Ba Ria–Vung Tau.

Many foreign enterprises have expressed interest in becoming strategic investors in Vietnam National Shipping Lines (Vinalines) following the Prime Minister’s approval of the firm’s equitization plan.

Despite its huge potential and forecasted annual growth rate of 12 per cent, as well as import-export turnover reaching $623 billion by 2020, the Vietnamese logistics industry is facing difficulties in enlisting personnel, especially skilled employees.

A draft decree detailing a number of articles of the Foreign Trade Management Law is currently being submitted to the Government of Vietnam, to replace Decree 187/2013/ND-CP. The draft decree will be applied in early 2019 with many new features that will directly affect the import and export of goods.

While recording high revenue growth in the first quarter of 2018, seaport joint ventures between Vietnam’s state-owned shipping giant Vinalines and its foreign partners are facing tremendous hitches as they try to keep their progress sustainable.

Goods temporarily imported for re-export can be kept in Việt Nam for no more than 60 days from the date of completion of customs formalities, according to a new Governmental decree.