Promotional products for business

A shrimp processing line of the Minh Phu Hau Giang Seafood JSC in the Mekong Delta province of Hau Giang. (Photo: VNA) Hanoi (VNA) – Enterprises in the fisheries sector are facing an export slowdown after strong shipments in the first months of 2022, which may subsequently affect their growth in the time ahead. After surges of 39 - 62% in the first four months, fishery exports have shown signs of growth slowdown, according to the Vietnam Association of Seafood Exporters and Producers ( VASEP ). Shipments increased 34% in May and 18% in June compared to the same period last year. In July, fishery exports stood at 970 million USD, up 14% from a year earlier but down 4% from the previous month. Le Hang, Deputy Director of VASEP’s Training and Trade Promotion Centre, blamed the slowdown since May on unfavourable weather as the rainy season came early and impacted fishery output. Businesses in the industry said the inventory in export markets, especially the US - … [Read more...] about Fisheries businesses face export growth slowdown

Illustrative photo However, the current regulations on family deduction of the Personal Income Tax Law 2009, which was amended in 2012 and supplemented in 2014, are not suitable for the current socio-economic situation and growth rate. Inadequacies in taxation Personal Income Tax (PIT) is one of two taxes that make the largest contribution to the annual state budget revenue with VND 110,000 bln, accounting for 10 percent of the total balance of the state budget in 2021. This is just after the two pillar taxes of the economy, which are Corporate Income Tax (CIT) and Value-Added Tax (VAT). Although wage earners account for 50 percent of the labor force and contribute up to 70 percent of revenue, tax policy for them has been slow to adjust after more than ten years of applying the PIT Law. This is currently very inadequate. The current income of the cadres, civil servants, and public employees' working salary plus additional incomes have all exceeded the threshold of … [Read more...] about Tax Law in Vietnam inconsistent with income

The northern province of Hung Yen should focus on developing linkages between production, processing, and export by commodity lines, seeking new export markets, diversifying traditional and modern distribution channels, Vietnam’s Ministry of Industry and Trade will continue to support Hung Yen and other localities to boost trade promotion, product introduction, and trade connection, the farm produces consumption in both domestic and international markets. Hung Yen longan is displayed at the event. Photos: Khac Kien Nguyen Hong Dien, Minister of Industry and Trade pledged at the conference to promote the consumption of longan and farm produce in 2022 on August 9. He added the ministry would actively support localities to strengthen market forecasting as well as promote the connection between the provincial Trade Promotion Centers and the Trade Promotion Department as well as among centers to share market information and support … [Read more...] about Vietnam brings Hung Yen longan to international markets

Head of the Party Central Committee’s Economic Commission Tran Tuan Anh chaired the meeting and Senior Lieutenant General Pham Hoai Nam, Deputy Minister of National Defense, attended the event. Speaking at the meeting, Chairman cum General Director of the Viettel Group Senior Colonel Tao Duc Thang briefed the delegation on Viettel production and business situation, especially difficulties and shortcomings that the group is facing. Meanwhile, Gen. Thang proposed new mechanisms and policies on high-tech development, digital transformation, and foreign investment, and then the project’s steering committee would implement effective and appropriate policies on modernization and industrialization in the time to come. For his part, Mr. Tran Tuan Anh spoke highly of the remarkable achievements gained by Viettel over the past years. According to him, Viettel is the first enterprise to work with the Central Steering Committee for developing the project. It has shown the important role of … [Read more...] about Central Economic Commission works with Viettel

This is the third time in a row that MB has been honoured in this award category, recognising the bank's continuous efforts in recent years in trading and providing derivatives products in the Vietnam market. In 2021, the scale of its portfolio and position in the market, the fast and powerful digital transformation process, and the high-quality human resources are the highlights that made MB be selected for the above-mentioned prestigious award, according to the evaluation of The Asian Banker. With a large portfolio and diverse product solutions, MB's interest rate and commodity derivatives business line has long been considered the top choice in the market for many years. The bank's revenue from foreign exchange and derivatives has grown constantly by an average of 40 per cent in the last three years, while the foreign exchange market share remained competitive among the top five financial institutions in Vietnam. Considering the awards based on the bank's results … [Read more...] about MB maintains its position as the market leader in Vietnam

Among the notable stocks is Kinh Bac Urban Development Corporation JSC (KBC). In the first six months, KBC achieved nearly $47 million in net revenues and $103 million in net profit, down 61 per cent in revenues but up 271 per cent in profit over the same period last year. This year, it set a business plan with total revenue of $426 million and profit after tax of $195 million. Industry analysts say the demand for industrial real estate will continue in a positive trajectory in 2023, Le Toan KBC currently owns more than 4,700 hectares of industrial land and 917ha of urban area nationwide. Of which, the four zones of Que Vo Industrial Zone (IZ) and its expansion, Trang Due 1, and Trang Due 2 are fully occupied. The company is now developing two new IZs, Nam Son Hap Linh and Trang Due 3. Both of these projects cover large areas and are located in key cities and provinces in terms of industrial property development. Industrial Development and Investment Corporation JSC … [Read more...] about Industrial real estate remains defiant in stock market