Hsbc

Customs clearance time for exports shortens The average duration for customs clearance for exports last year stood at 38.4 hours, a decline by 57.38 hours compared to 2019, according to a survey of an inter-sectoral working group. The cost for such procedures averaged 338 USD, falling 81.72 USD against 2019. Meanwhile, the time for imports was 54.8 hours, a drop of 48.88 hours. Total cost for the procedures hit 313.17 USD, plunging 256.41 USD. Document digitalisation is among important reasons that help businesses save time and costs for customs clearance for cross-border trade. The deployment of the Vietnam Automated System for Seaport Customs Management (VASSCM) also facilitates port-related activities. According to the General Department of Vietnam Customs, import and export documents in 2020 amounted to 6.75 million and 6.98 million, respectively. Trading across borders indicator set is part of the World Bank’s annual Doing Business rankings since 2001. The set … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 24

Capital flows into green growth projects are still quite positive despite the adverse impacts of the pandemic. VNA/VNS Photo HÀ NỘI — Due to the adverse impacts of climate change, green growth financing projects play a very important role for the sustainable development of Việt Nam, experts have said. According to the World Bank, Việt Nam is one of the five countries most likely to be affected by climate change because most of the population lives in low-lying coastal areas. It is estimated that climate change will reduce the country's national income by up to 3.5 per cent by 2050, Vietnam News Agency reported. Meanwhile, an International Finance Corporation (IFC) study shows climate finance in Việt Nam accounts for only about 5 per cent of total bank loans, equivalent to US$10.3 billion, and the value is projected to increase significantly in the coming years. The IFC said the implementation of the national target of reducing total greenhouse gas emissions by 9 per … [Read more...] about Green finance promotes Việt Nam’s sustainable growth

Capital flows into green growth projects are still quite positive despite the adverse impacts of the pandemic. — VNA/VNS Photo Due to the adverse impacts of climate change, green growth financing projects play a very important role for the sustainable development of Viet Nam, experts have said. According to the World Bank, Viet Nam is one of the five countries most likely to be affected by climate change because most of the population lives in low-lying coastal areas. It is estimated that climate change will reduce the country's national income by up to 3.5 per cent by 2050, Vietnam News Agency reported. Meanwhile, an International Finance Corporation (IFC) study shows climate finance in Viet Nam accounts for only about 5 per cent of total bank loans, equivalent to US$10.3 billion, and the value is projected to increase significantly in the coming years. The IFC said the implementation of the national target of reducing total greenhouse gas emissions by 9 per cent by 2030 to … [Read more...] about Green finance promotes Viet Nam’s sustainable growth