Business News

[26-07-2016] This year’s export target of US$30 billion seems to be a daunting task for the textile and garment sector given higher costs, fewer orders and mounting competition.Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), told a press conference in Hanoi last week that the sector posted export revenue of only US$12.76 billion in the first six months, growing 4.72% year-on-year but representing just 41% of the full-year target.

[25-07-2016]  The consumer price index (CPI) in July witnessed a month-on-month rise of 0.13% and a year-on-year growth of 2.39%, according to the General Statistics Office (GSO). The GSO announced that the CPI expanded 1.82% on average in the first seven months of 2016.

[22-07-2016] The Ministry of Finance has released Decision 1614/QD-BTC on a plan to reform, develop, and modernize the customs sector in the 2016-2020 period. The plan aims to convert the Vietnam Customs into a modern and effective one which takes the lead in providing public services; promoting domestic and foreign relations; and facilitating operation of partners.

[21-07-2016] Dong Nai province attracted US$1.34 billion in new and additional foreign direct investment (FDI) pledges as of July 19, up 20% year-on-year and equivalent to 134% of the year’s plan, according to the provincial Department of Planning and Investment.

[21-07-2016] More European small and medium enterprises are flocking into Vietnam in anticipation of the EU–Vietnam Free Trade Agreement (EVFTA). Last week, a delegation of 30 European pharmaceutical firms in the environment and water sectors paid a working visit to Ho Chi Minh City to research the market and explore opportunities.

[21-07-2016] The finance ministry issued Circular No. 83/2016/TT-BTC (“Circular 83”) on June 17, 2016. It guides the implementation of investment tax incentives prescribed in the Investment Law and government decree No. 118/2015/ND-CP, which details and regulates several articles of the Investment Law.

[20-07-2016] VietnamWorks is currently lauching Tech Expo 2016, a large-scale technology event which gathers the leading tech companies and tech talents in Vietnam.

[19-07-2016] The southern province of Kien Giang strives to earn US$260 million from exports in the last five months of 2016 to fulfill its yearly target of US$440 million. Chairman of the provincial People’s Committee Pham Vu Hong directed relevant agencies to enact measures to boost exports, improve the business environment and competitiveness, and support businesses, especially temporarily inactive ones.