Bình Dương investors’ meet discusses FDI policy framework in changing global scenario. VNA/VNS PhotoViet Nam News BÌNH DƯƠNG – Việt Nam needs to update its legal framework related to foreign investment. A conference in southern Bình Dương Province on Thursday was told that changes need to be made in the context of the fourth industrial revolution and capital flow changes due to the trade war. “Việt Nam is considered one of 12 nations in the world to have successfully attracted and used FDI to develop the economy and society,” Deputy Prime Minister Vương Đình Huệ said in his speech at the conference titled Institutional and Policy Consultation on FDI in The New Context. “FDI is an important resource to promote socio-economic development, encourages economic restructure and production, increases exports, takes Việt Nam into the global value chain, contributes to the … [Read more...] about Bình Dương investors’ meet discusses FDI policy
India transfer pricing
BUSINESS NEWS IN BRIEF 18/1
Vietnam attends South Asia’s Leading Travel Show in India Visitors at Vietnamese booths Five Vietnamese travel companies are currently participating in the 26th edition of SATTE, South Asia’s leading travel show, in India’s Uttar Pradesh state from January 16-18. They include Victoria Tour, Indochina Charm Tour, Go Indochina Tours, Hello Vietnam, and Asiana Travel. The fair has the participation of over 1,000 enterprises from 50 countries and territories. First launched in 2014, SATTE is one of the largest tourism and travel fairs in South Asia, run annually by India’s leading exhibition organiser UBM, the Ministry of Culture, and travel associations. The event provides a platform for countries to promote their lands, people, and traditional cultures, as well as attract foreign investment in tourism. It is also an occasion for policymakers and managers in tourism, along with experts and businesses, to share experience in the field and seek business … [Read more...] about BUSINESS NEWS IN BRIEF 18/1
Developing a new strategy for FDI
A focus on high-tech investment and added value is the centre of the new strategy, Photo: Le Toan Adam Sitkoff has been living in Vietnam for many years and has witnessed the strong inflow of foreign direct investment (FDI) into Vietnam over the past decades. As the executive director of the American Chamber of Commerce in Hanoi (AmCham Hanoi), Sitkoff acts as a bridge between US investors and the Vietnamese market, which he sees has great potential, both for high growth and for FDI attraction. “Business activity here started slowly for Americans. In 1995, US-Vietnam trade stood at just $451 million. It will soon hit $60 billion and we now see US investors active in almost every sector of the Vietnamese economy. American companies have invested billions of dollars here, integrating Vietnam into the global supply chain, creating high-quality jobs, and helping the country become more productive, more efficient, safer, and cleaner,” Sitkoff told VIR. According to him, it is … [Read more...] about Developing a new strategy for FDI
BUSINESS NEWS IN BRIEF 3/9
Quang Ninh aims to become leading service centreThe northern coastal province of Quang Ninh has outlined comprehensive measures to attract key projects in trade, aiming to become a leading service centre in the country.Two years ago, local authorities granted approval for a master plan to develop the trade sector by 2025 with a vision towards 2030. The province aimed to increase added value by an average of 12.5 - 13.5 percent during 2016 – 2020, 14.5 - 15.5 percent during 2021 – 2025, and 10 - 11 percent during 2026 – 2030.As part of efforts to lure trade projects, the province has worked to improve transport infrastructure, including projects upgrading the Uong Bi - Ha Long segment in National Road 18, Quang Ninh airport, and Ha Long - Hai Phong expressway. Due attention has been paid to transportation in border areas, facilitating and promoting trade with China via Bac Luan border gate.Besides encouraging local investors to remove bottlenecks and accelerate … [Read more...] about BUSINESS NEWS IN BRIEF 3/9
Asia’s cryptocurrency arbitrage boom fizzles, but profits persist
When China closed its local cryptocurrency exchanges late last year, an underground ecosystem of bitcoin “mules” and peer-to-peer platforms sprung up to allow bitcoin trading to thrive, away from regulators’ watchful eyes. Li, a Canada-based Chinese banker in his 20s, is one of these underground traders. He buys cryptocurrencies in other markets and sells them at a premium to investors in China, who cannot otherwise get them. At the height of the frenzied demand for bitcoins in January, when prices of the digital currency were hovering close to $20,000 after a 20-fold jump during 2017, Li and other traders were able to sell bitcoins in China for 30 to 40 percent more than they cost elsewhere. But in a matter of months, the premium for bitcoins in China has fallen to around 7 percent or less as a flood of bitcoin mules, who physically carry cash across borders for the trades, has swamped the arbitrage business. Cryptocurrency funds and individual computer-assisted … [Read more...] about Asia’s cryptocurrency arbitrage boom fizzles, but profits persist