China

Hanoi (VNA) - The Central Committee of the Communist Party of China (CPC) has sent a message of congratulations to the 13th National Congress of the Communist Party of Vietnam (CPV), which officially opened in Hanoi on January 26. The CPC Central Committee also extended its whole-hearted greetings to all Vietnamese Party members and people. It said that since the 12th National Congress of the CPV, the CPV Central Committee headed by Secretary General Nguyen Phu Trong has paid attention to intensifying Party building, leading Vietnamese people to many achievements in accelerating socialism building and reform. Given the impact of COVID-19, the CPV Central Committee has brought into full play its undaunted leadership to effectively combat the pandemic, maintain economic growth, and improve people’s living standards, demonstrating the superiority of socialism, the CPC Central Committee noted. “We really feel very happy about this,” it continued. The CPC Central … [Read more...] about Congratulations from China’s Party Central Committee for 13th National Party Congress

The Covid-19 crisis continues to represent an immediate threat to both individual safety and businesses, reflecting why pandemic outbreak has rocketed 15 positions up to #2 in the global rankings at the expense of other risks. Prior to 2021, it had never finished higher than #16 in 10 years of the Allianz Risk Barometer, a clearly underestimated risk. However, in 2021, it's the number one risk in 16 countries and among the three biggest risks across all continents and in 35 out of the 38 countries which qualify for a top 10 risks analysis. Japan, South Korea and Ghana are the only exceptions. China is the only country in Asia Pacific where Pandemic outbreak is not a new risk as it was ranked #7 in 2020. … [Read more...] about Allianz Risk Barometer 2021: Pandemic outbreak overtakes Business Interruption as top business risk in China

Vietnamese enterprises have delivered and received goods at Vietnamese ports, so the right to hire vehicles is undertaken by foreign partners, Vietnamese shippers depend entirely on foreign shipping companies and are forced to pay surcharges implemented by those shipping companies, according to Nhat. … [Read more...] about Shipping industry needs State support to develop: ministry

Therefore, the ministry has proposed the Prime Minister consider and adjust financial mechanisms to support the development of the fleet, including loans with preferential interest rates. Investment in a fleet of ships requires huge and long-term capital, while local enterprises are unlikely to be able to invest in high-quality fleets, according to Deputy Minister of Transport Nguyễn Nhật. The shipping companies have received very little financial support from the Government in the past few years to carry out fleet development. Interest rates on bank loans in Việt Nam are from 8-10 per cent per year, higher than interest rates in other countries such as Japan (1-2 per cent), Singapore (3 per cent) and China (4.5 per cent). At the same time, when registering a ship to fly the Vietnamese flag, the enterprise must carry out procedures on importing ships and have to pay taxes and fees such as registration fee, value-added tax and import tax on ships. Some ship owners … [Read more...] about Shipping industry needs State support to develop: ministry

The world has been in an abnormal situation since the US-China trade war broke out, the UK decided to leave the EU, the US abandoned TPP, and the Covid-19 pandemic appeared, The ‘if’ did not happen. The indicators used to measure Vietnam’s economy were seriously hit by the Covid-19 pandemic. The GDP growth rate in 2020 decreased by half compared with the year before, while the state budget collections were lower than planned. … [Read more...] about Vietnam shows its ‘firm stuff’ after five years of difficulties