Conference seeks ways for investment promotion in Quang Binh An investment promotion conference in the central province of Quang Binh was convened on August 28, focusing on presentations of the province’s potential and investment opportunities. Present at the conference were Prime Minister Nguyen Xuan Phuc and more than 800 delegates from among the leaders of ministries and departments, along with representatives of embassies, Lao provinces, commercial banks, associations, international organizations and businesses. Participating domestic and foreign organizations and businesses, through the conference, discussed investment and trade opportunities with local authorities. The event is expected to serve as a platform for the handing over of investment registration certificates and cooperation deals to 66 projects with a combined registered capital of US$7.34 billion. Earlier, the provincial People’s Committee held a series of sideline activities, including investment … [Read more...] about BUSINESS NEWS IN BRIEF 28/8
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BUSINESS NEWS IN BRIEF 27/8
Bac Ninh industrial parks play significant role in local economy Industrial parks of the northern province of Bac Ninh have made up 70 percent of industrial production value, over 90 percent of exports and 51.7 percent of budget collection of the locality. The figures were given at a conference on August 24 to review 20 years of forming and developing local industrial parks. According to Chairman of the provincial People’s Committee Nguyen Tu Quynh, the introduction of the Management Board of Bac Ninh Industrial Parks 20 years ago is a breakthrough step showing the vision and mindset of provincial leaders in mobilising resources, investment to boost industry’s growth. After two decades, the industrial parks have become an important part of the local economy, promoting the economic structure transform, while improving the province’s capacity in production and technology transfer, enhancing production efficiency and engaging deeper into the global production chain. … [Read more...] about BUSINESS NEWS IN BRIEF 27/8
HCM City to strive harder to improve business climate
The HCMC government will redouble its efforts to further improve the business climate to support enterprises, according to the city’s plan to improve the Provincial Competitiveness Index this year, issued on August 21. A view of HCMC. The city will continue improving the business climate to support enterprises The city will focus on reducing by half the number of business conditions and commodities subject to specialized inspections, simplifying business conditions, improving the competitiveness of the tourism sector and reducing logistics costs. Although the city has strived to improve the business environment, its competitiveness remains lower than that of other localities. Therefore, HCMC targets an increase of at least 40 notches in terms of starting a business, 10 places in settling trade disputes and 10 spots in handling bankruptcies. The city will promote post-inspections, while removing overlapping specialized inspections, so that each item is inspected by a single … [Read more...] about HCM City to strive harder to improve business climate
Southern city plans to improve business climate by 8-18 grades
Photo for illustration. (Source: SGGP) Specifically, the city will focus on bettering business climate indicators to gain 8 to 18 grades, jumping on the World Bank’s rankings in 2018, including strong improvement of low-ranking indexes such as business start-up by at least 40 grades, settlement of contract disputes by 10 grades, and settlement of business bankruptcy by 10 grades. It will also complete the abolition and simplify 50% of investment and business conditions, and propose the abolishment of some conditional businesses according to the Investment Law. The southern hub plans to reduce by at least 50% the list of goods and products which must be inspected. For management, it will decrease the proportion of batches of imported goods in the customs clearance period from 25-27% to less than 10%. Ho Chi Minh city will hasten the application of information technology in administrative procedures and implementation of online public service; striving to have 30-40% of … [Read more...] about Southern city plans to improve business climate by 8-18 grades
BUSINESS NEWS IN BRIEF 26/8
SCB signs deal with three Hong Kong banks Saigon Joint Stock Commercial Bank (SCB) and three Hong Kong banks on Monday signed a co-operation agreement on syndicated credit financing. Under the agreement, SCB, Hang Seng Bank Limited, Chong Hing Bank Limited and The Bank of East Asia Limited committed to support financial investment and ensure a stable financing source for Union Square Company Limited, which operates in the field of real estate. The signing was made within the framework of an investment development co-operation event held by the Viet Nam Chamber of Commerce and Industry (VCCI) in co-ordination with Hong Kong Trade Development Council (HKTDC) in HCM City on Monday. Also at the event, the four banks signed a strategic agreement for comprehensive and long-term co-operation in exchanging experience on investment and financial management, increasing business relations, conducting research and investment, and especially providing credit to local and foreign … [Read more...] about BUSINESS NEWS IN BRIEF 26/8