The US Department of Commerce end its anti-dumping investigation on polyester fibre imported from Viet Nam. — Photo cafef.vn The US Department of Commerce (DOC) has announced the termination of the anti-dumping investigation on polyester fibre imported from Viet Nam. Earlier, on June 20, DOC officially initiated the investigation on polyester fibre imported from Viet Nam, China, India, the Republic of Korea and Taiwan (China), based on petitions filed by DAK Americas LLC, Nan Ya Plastics Corporation and Augira Polymers. The plaintiffs alleged that polyester staple fibre products were being shipped to the United States at prices lower than their normal value. In addition, the dumping had caused significant damage to the domestic industry due to price depression. The scope of the investigation covers fine denier polyester staple fibre, not carded or combed, measuring less than 3.3 decitex in diameter, coded … [Read more...]

Deputy Prime Minister Vuong Dinh Hue (L) shakes hands with Australian Treasurer Scott Morrison (Photo: VNA) Sydney (VNA) – Deputy Prime Minister Vuong Dinh Hue held working sessions with some Australian officials on July 24 to seek measures to further foster partnership between the two countries. At a meeting with Treasurer Scott Morrison, Deputy PM Hue, who is on a visit to Australia from July 23-25, highly valued Australia’s commitment to continue providing development assistance to Vietnam in various fields such as environment, the improvement of livelihoods for mountainous and rural areas, climate change response, and gender equality. Morrison lauded Vietnam’s role as the host of the APEC 2017 with many important meetings. Vietnam has also devised the agenda for the event, which received high approval from member economies, he said. He affirmed … [Read more...]

Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan. National Assembly Chairwoman Nguyen Thi Kim Ngan (L) welcomes Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum, and laid wreaths at the Monument to War Heroes and Martyrs. At the talks and meetings, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continually since they set up their diplomatic ties 44 years ago.  The political relations between the two countries have been tightened through visits and … [Read more...]

By cooperating with local businesses, the investment wave from Japanese enterprises into Vietnam’s real estate market continues to grow strongly. According to the Foreign Investment Agency at the Ministry of Industry and Trade, as at the end of 2016, Japanese investors had registered to invest in 53 projects with total capital of $1.91 billion; the most of any country. Shaking hands Japanese investors conducted many merger and acquisition (M&A) deals in Vietnam during the first half of this year, according to JLL.  They were initially involved in investing in office blocks and hotels but are now stepping into the residential sector. Different from other investors, however, Japanese enterprises do not invest in projects. They choose instead to invest indirectly, purchasing shares from companies or joining a project that has already completed formalities with government … [Read more...]

National Assembly Chairwoman Nguyen Thi Kim Ngan (L) welcomes Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury (Source: VNA) Hanoi (VNA) - Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan. During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum, and laid wreaths at the Monument to War Heroes and Martyrs. At the talks and meetings, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continually since they set up their diplomatic ties 44 years ago. … [Read more...]

ASEAN Secretary General Le Luong Minh (Source: VNA)   Jakarta (VNA) – Norway commits to enhancing and deepening cooperation with the Association of Southeast Asian Nations (ASEAN) as well as its member countries. The message was conveyed by new Ambassador of Norway to ASEAN Morten Hoglund while presenting his credentials to ASEAN General Secretary Le Luong Minh at the ASEAN headquarters in Jakarta, Indonesia, on July 21. The ambassador praised ASEAN’s important role in maintaining peace, security and stability, and spurring economic growth in the region. ASEAN General Secretary Minh said Norway is the first sectoral dialogue partner of ASEAN to appoint its ambassador to the association, demonstrating the country’s commitment to strengthening its collaboration with the ten-member group. The same day, the second meeting … [Read more...]

The ADC has been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. — Photo hoasengroup.vn Australia’s Anti-Dumping Commission (ADC) has announced a partial rescission of its anti-dumping, anti-subsidy investigation on Vietnamese zinc-coated (galvanised) steel. The ADC, under Australia’s Department of Industry, Innovation and Science, has also been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. Viet Nam’s Ministry of Industry and Trade (MoIT) said the ADC concluded that Vietnamese galvanised steel producers and exporters received countervailable subsidies from the government during the investigation period, but the subsidies were at negligible level. Therefore, … [Read more...]

ASEAN enjoys half century of dynamic, comprehensive development (Source: asean.org) Hanoi (VNA) – After 50 years of development, the Association of Southeast Asian Nations (ASEAN) has been internationally recognised as a comprehensive regional cooperative organisation and a cohesive and dynamic political-economic entity that contributes to global connectivity. The association has an important role and position in the Southeast Asian and Asian-Pacific regions with profound political, economic, cultural and social influences.  A spirit of solidarity, consensus and mutual support and respect, along with harmonious combination of national and community interests have helped enhance the association’s position. Over the past half century, ASEAN has proved itself a leading factor in ensuring a peaceful environment, security and cooperation for regional development, … [Read more...]

Ho Chi Minh City’s total retail sales and services revenue estimated at 19.8 billion USD in the first half of 2017 - Illustrative photo (Source: VNA HCM City (VNA) – Ho Chi Minh City’s total retail sales and services revenue are expected to hit nearly 450 trillion VND (19.8 billion USD) in the first half of 2017, up 10.2 percent from the same period last year. According to Nguyen Phuong Dong, deputy head of the municipal Department of Industry and Trade, of the total, revenue from retail is estimated at 291 trillion VND (12.8 billion USD), 64.7 percent of the total and up 12.1 percent year-on-year. During January-June, the Department carried out measures to stabilise the market and connect businesses and banks, while implementing projects to establish an aromatic and chemical business centre, develop the logistics and support industry sector and help enterprises … [Read more...]

VietNamNet Bridge – The Government Inspectorate (GI) has released findings of egregious wrongdoing in the implementation of a number of BT (Build-Transfer) and BOT (Build-Operate-Transfer) infrastructure and environmental projects in Ha Noi City. A view of the extension of Le Van Luong Street in the urban district of Thanh Xuan, southwest of Ha Noi. — Photo: VNA/VNS The GI recommended holding Ha Noi authorities accountable for the faults. The GI said all BT projects were behind schedule and had entailed significant cost overruns. It said contractors were “not sufficiently capable of mobilising capital” and also blamed a “failure to disburse budget in accordance with set schedule.” Seven BT projects caused massive loss – the construction of the Yen So wastewater treatment plant, the Le … [Read more...]

Hanoi, July 24 (VNA) – Since Vietnam and Laos set up diplomatic relations in 1962, the relationship between the two countries has flourished thanks to efforts from both sides to make ties deeper and more effective, especially in economy, trade and investment.  According to Deputy Minister of Industry and Trade Tran Quoc Khanh, since a bilateral trade agreement was signed in March 3, 2015 and a border trade agreement was inked on June 26, 2015, trade ties between the two countries have developed.  Launching the Vietnam-Lao trade website at www.vietlaotrade.com has also fostered connections and trade exchange between business communities of both sides.  Deputy Minister Khanh said the website aims to provide the business community timely and comprehensive information on economic, trade, industry regulations, mechanisms and policies as well as trade promotion activities, aiming to better serve … [Read more...]

U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest tech startups that sell the coins just don't need their money. FILE PHOTO: Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding. So-called initial coin offerings (ICOs), where new tech companies using blockchain technology can raise millions quickly by creating and selling digital "tokens," with no regulatory oversight, have turned traditional relationships upside down. Blockchain, a public online ledger of … [Read more...]

According to Deputy Minister of Industry and Trade Tran Quoc Khanh, since a bilateral trade agreement was signed in March 3, 2015 and a border trade agreement was inked on June 26, 2015, trade ties between the two countries have developed. Launching the Vietnam-Lao trade website at www.vietlaotrade.com has also fostered connections and trade exchange between business communities of both sides. Deputy Minister Khanh said the website aims to provide the business community timely and comprehensive information on economic, trade, industry regulations, mechanisms and policies as well as trade promotion activities, aiming to better serve enterprises of both countries and make information cheaper to access. Statistics of the Ministry of Industry and Trade (MoIT) showed that as of March 2017, trade between the two countries reached US$236 million, up 4.3% year on … [Read more...]

The Vietnamese tra fish product made following the recipe of the eel dish – a traditional food of Japan in the summer – is being sold at AEON supermarkets since June. — VNA/VNS Photo Thanh Huu Viet Nam’s tra fish sold at Aeon supermarkets in Japan is listed among “TopValu” products, which are goods of superior quality. Keisuke Hino, who manages AEON’s aquatic products section in the northern Kanto and Niigata region, said to meet TopValu standards, products must satisfy consumers’ taste and be produced in line with AEON’s strict process. The Vietnamese tra fish product made following the recipe of the eel dish – a traditional food of Japan in the summer – is being sold at AEON supermarkets since June, and the retailing group plans to expand the sale of this product in the future, he added. Ta Duc Minh, trade counsellor and chief representative of … [Read more...]

The Ministry of Planning and Investment is targeting an economic growth rate of 6.4% to 6.8% for Vietnam in 2018, according to a document sent to ministries and local authorities with guidelines to develop the socio-economic plan for 2018. The ministry said that the economic growth in 2018 would continue to improve, fuelled by increases in manufacturing, construction, trade, banking and tourism sectors. The global economic and trade growths were also expected to be higher in 2018 than 2017, creating favourable conditions that would boost the economic growth, especially exports, the ministry said. In addition to this, the improving business environment, rapid international economic integration, increasing foreign direct investment and private investment, coupled with the Government’s determination to remove difficulties for firms will support production and trade, it said. The ministry said … [Read more...]

Shareholders of Loc Troi Group Joint Stock Company (Loc Troi) are raising concerns about the divestment of foreign shareholder Mekong Capital after the firm's listing on the Unlisted Public Company Market (UPCoM). Loc Troi plans to be listed on UPCoM by issuing 67.2 million stocks on July 24 with a total registered value of VND672 billion ($29.6 million). The reference price for each share in the first trading session is expected to be VND55,000 ($2.42). Loc Troi has the chartered capital of VND672 billion ($29.6 million) and mainly specialises in three fields, plant protection, seedling supply, and food processing. Loc Troi holds the leading position in the field of plant protection with 20 per cent of the market share and it has a wide network of 26 branches and more than 5,000 agencies all over Vietnam. Regarding the shareholder structure, the An Giang People’s Committee holds 24.15 per cent … [Read more...]

NDO/VNA – Deputy Prime Minister Vuong Dinh Hue held working sessions with a number of Australian officials, on July 24, to seek measures to further foster the partnership between the two countries. At a meeting with Treasurer Scott Morrison, Deputy PM Hue, who is on a visit to Australia from July 23-25, highly valued Australia’s commitment to continue providing development assistance to Vietnam, in various fields such as environment, the improvement of livelihoods in mountainous and rural areas, climate change response and gender equality. Morrison lauded Vietnam’s role as the host of the APEC 2017 with many important meetings. Vietnam has also devised the agenda for the event, which received high approval from the member economies, he said. He affirmed Australia’s policy of giving top priority to cooperation with the ASEAN and the country’s wish to help promote ASEAN’s solidarity, self-reliance, prosperity and … [Read more...]

NDO/VNA - Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam, made at the invitation of National Assembly Chairwoman, Nguyen Thi Kim Ngan. During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum and laid wreaths at the Monument to War Heroes and Martyrs. During her discussions, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continuously since they first established their diplomatic ties 44 years ago. The political relations between the two countries have been tightened through regular visits and meetings. The two countries have always supported each other in their national building and … [Read more...]

The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings. (Photo: dautuchungkhoan.vn) Hanoi (VNA) - The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts said. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost over 2 percent last week with four falling sessions and only one mid-week rising trade. The key index closed on July 21 at 761.86 points, down 2.7 percent from the nine-year peak of 782.665 seen on July 6. On the Hanoi Stock Exchange, the HNX-Index slumped 2.5 percent for the whole week, ending at 97.96 points on July 21. “The market seems to be exhausted and faces risks of downward corrections. However, … [Read more...]

Authorities check intercepted cigarette packs smuggled through the border in the southern province of An Giang. — VNA/VNS Photo Hoang Hung In the first six months of 2017, authorities uncovered 88,560 cases of smuggling, prosecuting 1,100 cases involving 1,372 people. Authorities collected VND7.9 trillion (US$347.5 million) from administrative fines, selling off confiscated smuggled goods, and tax arrears, 40 per cent more than the previous year’s first half. According to National Steering Committee 389, the majority of smuggled goods fall into categories of essential consumer goods, heavily taxed goods, or goods banned for import, such as cocaine, explosives, tobacco, cosmetics, petrol and gas, elephant tusks or rhino horns, among others. Some notable cases include an interception of 7,800 foreign cigarette packs in the southern province of Long An, or confiscation of 26kg rhino horns and 6kg of elephant … [Read more...]