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Ambassador Dang Minh Khoi (standing) speaks at the meeting with Vietnamese people in Krasnodar city on August 6. (Photo: VNA) Moscow (VNA) – Representatives of the Vietnamese Embassy in Russia led by Ambassador Dang Minh Khoi have visited Vietnamese people in Russia’s southern city of Krasnodar. During the trip on August 6, the delegation visited some commercial establishments, a market where many expatriates do business, and Royal City Mall - a trade centre built and owned by Vietnamese people. Talking to the delegation, Do Minh Chanh, Chairman of the Vietnamese People’s Association in Krasnodar region, said there are about 100 Vietnamese families with over 500 members, together with 30 students from the country, in Krasnodar at present. Before the COVID-19 pandemic broke out, they had frequently organised community activities to enhance solidarity, he said, noting Russia’s special military operation in Ukraine has been affecting their business and daily activities. … [Read more...] about Ambassador visits Vietnamese community in Russia’s Krasnodar city

For over a month now, relevant personnel at the Ministry of Transport is busy with the final preparations to soon hand over Khanh Hoa-Buon Ma Thuot Expressway to the people’s committees of Khanh Hoa and Dak Lak provinces. In light of Decision No.17/QD-TTg dated July 28, two out of three components under Khanh Hoa-Buon Ma Thuot Expressway will be assigned to two localities having the road passage for management. The 32km-long first component with an estimated investment value of $244.8 million will be assigned to Khanh Hoa's People’s Committee while the 48km-long third component valued at around $282 million will be assigned to Dak Lak's People’s Committee. The 37.5km second component with a value reaching $426.8 million will be managed by the Ministry of Transport (MoT) as the road section lies in both localities and features complex terrain. Building a comprehensive highway network is one of the government priorities With more than 117.8km of total length, … [Read more...] about Huge transport investment expected to vitalise central regions

An investor was watching his cellphone in front of a stock trading board. — Photo cafe.vn The number of newly-opened securities accounts dropped sharply in July to the lowest in about two years as stock market liquidity hit a monthly low. Data from the Viet Nam Securities Depository (VSD) showed domestic investors opened 199,128 new securities accounts last month, a decline of 57 per cent over the previous month. This is the second time the number of new accounts opened in the country has dropped below 200,000 units. The last time was in February, which coincided with the Lunar New Year Holiday. Retail investors continued to be the market’s key contributor opening 198,988 new accounts, with 140 accounts from institutional investors. Meanwhile, in July, domestic individual investors closed 3,279 accounts. In the first seven months of the year, domestic investors opened more than two million new securities accounts, far exceeding the figure for 2021 (1.53 million accounts). … [Read more...] about New securities accounts hit near two-year low in July

Workers wrap up and label durians. Vietnamese durians have made a name for themselves as a great-tasting fruit in many countries, but that's only the story's beginning. — Photo baomoi.com Vietnamese durians have made a name for themselves as a great-tasting fruit for overseas consumers but still have a long way to go the maintain their position on the international scene, according to insiders. Dang Phuc Nguyen, General Secretary of the Viet Nam Fruits and Vegetables Association, reveals that China, the largest importer of fresh Vietnamese durians, has allowed the fruits to be imported via official channels from July 12. However, these opportunities come with obstacles as the Chinese General Administration of Customs (CGAC) requires that Vietnamese exporting firms and growing areas register with the Vietnamese Ministry of Agriculture and Rural Development (MARD), and the registrations must be sent to CGAC for approval before the fruit can enter the country. "Durians from … [Read more...] about Long way to go for Vietnamese durian

General Department of Vietnam Customs’ data showed that the bilateral trade reached US$1.03 billion in the first four months of 2022 (up 15 percent from the same period of 2021), including US$689.13 million worth of Vietnamese exports (up 19.2 percent) and US$342.16 million worth of Vietnamese imports (up 7.3 percent). Tra fish exports are projected to surge by a whopping 97 percent year-on-year in the first five months of 2022, reaching US$1.1 billion Nguyen Thi Hoang Thuy, Head of the Vietnam Trade Office in Sweden, concurrently in Denmark, Norway, Iceland, and Latvia, said Nordic enterprises generally bought Japonica rice from Spain, Italy, Japan and the US, and were excited to discover they could import a similar product with similar quality from Vietnam at a one-third to one half less. Foreign trade accounts for 50-60 percent of the Nordic bloc’s gross domestic product (GDP). Despite their small population, Nordic countries made an impressive import value … [Read more...] about Vietnamese exports to Nordic markets thrive

After Vietnam's tax authorities enhanced the collection of taxes from traders on digital platforms, including social networks and e-commerce sites, many traders are seeking ways to avoid paying them or pass the buck to buyers. Shopping on websites, e-commerce platforms, and social networks is a national trend. E-commerce has boomed in Vietnam with revenue of some US$13.7 billion in 2021. The figure is forecast to reach $39 billion by 2025. However, the tax revenue from this sector has not risen commensurately its growth. Multiple tricks to avoid taxes Minh Thu, living in Thu Duc City, a district-level city in Ho Chi Minh City, said after ordering a pair of shoes from an online trader on Facebook, she was surprised as the trader announced that from August 1, customers must make payments in advance and the trader will not offer the cash-on-delivery (COD) service as earlier. Money transfer descriptions must not include the words 'buy' or 'sell,' but Facebook or Zalo … [Read more...] about In Vietnam, online vendors seek ways to avoid taxes