Report

Illustrative image. (Photo: VNA) Hanoi (VNA ) – Up to 68.4% of logistics companies in Vietnam saw increases in their revenue s in the first nine months of 2022 compared to the same period of last year, a study released by Vietnam Report JSC showed. Of the 34 listed logistics companies that were surveyed, 64.7% said their revenues had maintained growth compared to the pre-pandemic period, said Vu Dang Vinh, General Director of Vietnam Report. Up to 26.5% of businesses moved from the "recovery" group in the 2019 - 2021 period to "maintaining growth momentum" in the 2019 – 2022 period, reflecting efforts of logistics enterprises in the recovery process and gaining economic growth in the post-COVID-19 period. Vietnam Report ’s survey pointed out that the biggest difficulties that logistics enterprises are facing are fluctuations in energy and input material prices; competition among businesses in the same industry; supply chain-related risks; political instability … [Read more...] about Vietnam’s logistics sector speeds up post-pandemic recovery

During a working session with PT General Secretary Alberto Anaya Gutiérrez in Hanoi on November 30, Trang stressed that the PT leader's visit to and working session with VNA showed the close and profound sentiments between VNA and PT. She thanked PT for always supporting VNA’s resident correspondents to help the agency fulfill its task of reporting the Mexican situation to leaders of the Party and State, and people of Vietnam. As an official news agency of Vietnam, VNA pledged to make active contributions to the relations between the two nations in the coming time, Trang said. Gutiérrez, for his part, expressed his delight to visit and work with Vietnam and VNA again after three years of disruption due to impacts from the COVID-19 pandemic. He said that with modern technologies and techniques, VNA has well accomplished its task of fully and promptly providing information about Vietnam for foreign friends as well as news for Vietnamese people and leaders at all levels, … [Read more...] about Vietnam News Agency, Mexican Labor Party boost cooperative ties

The Vietnam Textile and Apparel Association (Vitas) forecasts that the business results of textile and garment enterprises in the fourth quarter will decline compared to the same period last year due to the impact of many geopolitical factors. Importers in the United States, EU, and Japan have been lowering prices and reducing orders. Despite this, textile and garment exports in the first 10 months of 2022 reached $37.9 billion, up 17.2 per cent over the same period last year. Textile groups at pains to regather momentum, source: shutterstock Vitas chairman Vu Duc Giang said, “Enterprises’ warehouses are full and inventories are so large that many customers are forced to stop ordering or even delay the delivery time. Businesses are missing 35-50 per cent of orders for November and December.” The outlook for apparel orders in 2023 is clouded by the effect of the inventory cycle extending from Q4. This is also an indicator that the textile and garment industry will face … [Read more...] about Textile groups at pains to regather momentum

Marketing authorisations (MAs) have been a pressing issue among multinationals and the Vietnamese government and the Ministry of Health (MoH) has made a number of actions to deal with it. What is the current situation? Tran Ngoc Anh, representative of the US-ASEAN Business Council Member companies of the US-ASEAN Business Council highly valued the issuance of Resolution No.12/2021/UBTVQH15 at the end of 2021, which enabled the continued use of MAs scheduled to expire before the end of 2022. The MoH then issued a list of about 10,000 drugs with MAs expired in 2021 and extended until the end of 2022, thus creating favourable conditions for the drugs to continue their imports into Vietnam and ensuring supply for hospitals to meet examination and treatment demands. Until now, all the issues related to MA for the drugs in 2022 have been dealt with. However, starting from January 2023, these 10,000 drugs and around 8,000 others will then expire. We are very concerned about … [Read more...] about The legal adaption measures expected from pharma groups

The Vietnam Rubber Association (VRA) last month proposed to the Ministry of Finance (MoF) to consider applying a VAT policy on preliminarily processed rubber and latex, similar to other agricultural products. The VRA also urges for the application of preferential corporate tax for income from the harvest of liquidated rubber trees, like other crop products, and a land rent exemption policy for replanted rubber areas during the construction period. The goal is to remove difficulties for the entire value chain, from rubber growers to exporters. Rubber producers continue to brood over tough prices and tax complexities, photo Le Toan In Ho Chi Minh City, Hoa Thuan Trading Co., Ltd. is still waiting for a tax refund of $2 million for rubber exports. Representative Tran Le Thu said, “When completing tax refund procedures in Ho Chi Minh City, the company have to wait for the agency to verify invoices for purchasing raw materials in the provinces.” Thu also pointed towards “a … [Read more...] about Rubber producers continue to brood over tough prices and tax complexities

Illustrative image (Photo: VNA) Hanoi (VNA) – An estimated 445.9 trillion VND (over 18.18 billion USD) of investment capital sourced from the State budget was disbursed in the first 11 months of 2022, equivalent to 74.9% of this year’s target and rising19.9% year-on-year, according to the General Statistics Office (GSO). In November alone, the figure reached about 58.5 trillion VND, up 19.7% compared to the same period last year, the office reported. Statistics from the Ministry of Finance show that 16 ministries and central agencies, and 29 localities have reported disbursement rates of over 60%. However, 27 ministries, agencies and 18 localities have recorded their disbursement rates below 50%. Besides causes affecting the disbursement such as the increasing prices of material, unfavourable weather conditions, and problems in land clearance, other difficulties include those related to feasibility study reports, basic designs and total investment of projects. Prime … [Read more...] about 11-month public investment disbursement up nearly 20%