Business News

[13-11-2015] The National Assembly (NA) has assigned the Government to increase the minimum monthly salary of public servants by around 5% to VND1.21 million as from May 1, 2016. In a resolution on the 2016 State budget estimates which received approval from 392 of 435 deputies on November 11, the Government is also tasked with ensuring incomes of those whose wage coefficients are smaller than 2.34 will not be lower than the current levels.

[12-11-2015] Circular 41/2014/TT-BCT issued by the Ministry of Industry and Trade dated November 5, 2014 stipulates foundations and procedures to define foreign labourers’ internal movement in enterprises operating in 11 service sectors specified in Vietnam’s commitments schedule to the WTO not subject to labour licensing.

[28-12-2016] Vietnam’s export of garment and shoes seems poised to record significantly lower growth this year. The numbers for the whole year of 2016 are not available yet, but according to the General Department of Vietnam Customs, the total export of garment and textile products was $22.58 billion in the year to December 15, up 4.8 per cent on-year. This is the lowest growth in 10 years.

[27-12-2016] Domestic textile enterprises and logistics service providers should work together to reduce costs and improve their competitiveness, according to experts. Nguyễn Tường, Vice Chairman of the Việt Nam Logistics Association, said the textile industry needs to import raw materials from abroad and export products to foreign markets.

[06-12-2016] Many textile and garment enterprises are investing in textile and dyeing complexes to ensure material for sustainable development, Vietnam Television (VTV)reported recently. To avail themselves of business opportunities from the Trans-Pacific Partnership (TPP) agreement, many textile and garment firms have over the past two years started building textile and dyeing complexes.

[29-10-2016] Representatives from public private partnerships (PPP) in apparel and footwear yesterday signed a co-operation agreement for the two sectors’ sustainable development in Việt Nam. The co-operation, which is the first of its kind in Việt Nam, marks a new step in promoting the sustainable development of the apparel and footwear sectors in terms of economy, society and environment.

[02-10-2016] Unlike two years ago, when Vietnam witnessed a wave of foreign direct investment (FDI) in textile & garment projects, the capital flow into the sector has slowed down. A series of huge projects with investment capital of billions of dollars were registered in 2014 and 2015.

[06-10-2016] October 6th marks the grand return of four mega exhibitions “METALEX Vietnam 2016,” “Business Alliance 2016 for Supporting Industry,” “NEPCON Vietnam 2016,” and “Industrial Components & Subcontracting Vietnam 2016”.