Vietnam foreign exchange control

Pandemic-hit HCM City looks to sustain growth momentum this year Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May. Data from the municipal Statistics Office, the city’s Gross Regional Domestic Product (GRDP) grew 5.46 percent year-on-year in the first half of this year. Total retail sales of goods and services reached about 542 trillion VND (23.5 billion USD), up 7.3 percent year-on-year. Budget revenue exceeded 198.56 trillion VND, up 20.7 percent and representing 55.7 percent of the yearly plan. Its Industrial Production Index (IIP) picked up 5.9 percent during the period, with growth seen in all four key industries – food and beverage (1.2 percent), pharmaceutical chemistry (2.6 percent), electronics (15.6 percent), and mechanical engineering (10.7 percent). This year, HCM City sets to achieve … [Read more...] about VIETNAM BUSINESS NEWS JULY 25

After nearly 18 years of living in Vietnam, retired Nigerian footballer Amaobi Honest Uzowuru has found his second home. Đặng Amaobi now spends time in training young players in HCM City and also works for several television stations as a football pundit.  — Photo courtesy of Đặng Amaobi Born in 1981 in Nigeria, Uzowuru first played in the V.League 1 in 2004 and enjoyed a successful career. He gained Vietnamese citizenship in 2011 and began going by Đặng Amaobi. Following his retirement in 2016, Amaobi decided to stay in Vietnam instead of returning home like many other foreign footballers. He spends time training young players in HCM City and also works for several television stations as a pundit. “I played for seven different teams in Vietnam and I liked them all, however, Nam Dinh were the team I loved the most and they still have a big connection with me till now,” Amaobi told Việt Nam News. “Personally, I don't have regrets during the time playing in Vietnam … [Read more...] about Vietnam now home for retired Nigerian footballer

Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai (centre) shows the signed minutes of the virtual meeting with Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt (Photo: vneconomy.vn) Hanoi (VNA) – Germany has pledged to provide 50 million EUR (58.8 million USD) in official development assistance (ODA) loans and another 63.559 million EUR in non-refundable ODA for 14 technical assistance and investment projects in Vietnam this year. The commitment was made during a recent governmental-level meeting on the Vietnam - Germany development cooperation in 2021 held via videoconference, according to the Ministry of Planning and Investment (MPI). Among the beneficiary projects, the one on building a centre for epidemic forecasting and management proposed by the Health Ministry as an emergency response to the COVID-19 pandemic will receive 15 million EUR in non-refundable ODA. The MPI … [Read more...] about Germany pledges over 113.5 million EUR in ODA for Vietnam

The new Mondelez Kinh Do Vietnam brand identity. — VNS Photo Mondelez Kinh Do Vietnam has announced its new brand indentity, a strategic move after Mondelēz International acquired Kinh Do in 2015 and made it part of Mondelēz's global family of brands. The launch of the new brand identity is aligned with Kinh Do's values and commitment to accompany Vietnamese consumers throughout their daily lives and during special occasions. “With the dedication to serve and with the deep understanding of consumers’ desires, Mondelez Kinh Do team is very proud to be the leading manufacturer and distributor of quality bakery products in Viet Nam,” said marketing director Simon Crowther, Mondelez Kinh Do Vietnam. As for the new brand identity, Kinh Do is committed to upgrade its packaging, taste, and quality and nutritional value in their products. Among the Kinh Do master brand portfolio, fresh breads and cakes pioneered to offer consumers these wonderful values. In August this year, … [Read more...] about Mondelez Kinh Do Vietnam launches new logo

The commitment was made during a recent governmental-level meeting on the Vietnam - Germany development cooperation in 2021 held via videoconference, according to the Ministry of Planning and Investment (MPI). Among the beneficiary projects, the one on building a centre for epidemic forecasting and management proposed by the Health Ministry as an emergency response to the Covid-19 pandemic will receive EUR15 million in non-refundable ODA. The MPI said the German Government views Vietnam as a “global partner” in development cooperation under the new BMZ 2030 strategy. Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai (center) shows the signed minutes of the virtual meeting with Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt (Photo: vneconomy.vn) During the meeting, attended by Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai and Director for Asia at the German … [Read more...] about Germany pledges over EUR113.5 million in ODA for Vietnam

The headquarters of the State Bank of Viet Nam. The Office of the US Trade Representative will not take any tariff action against Viet Nam. — VNA/VNS Photo Tran Viet The Office of the US Trade Representative (USTR) on Friday issued a formal determination in the Viet Nam Currency Section 301 investigation, under which the agency will not take any tariff action against Viet Nam. A statement by the USTR said the move reflects the agreement reached earlier this week between the US Department of the Treasury and the State Bank of Viet Nam (SBV). The determination finds that the agreement between the US Department of the Treasury and SBV provides a satisfactory resolution of the matter subject to investigation and that no trade action is warranted at this time. The USTR, in co-ordination with the US Department of the Treasury, will monitor Viet Nam’s implementation going forward, it said. US Trade Representative Katherine Tai commended Viet Nam for its commitment to addressing the … [Read more...] about US removes tariff threats against Viet Nam