The Vietnam Industrial and Manufacturing Fair (VIMF) 2018 opened at the Kinh Bac Cultural Center in the northern province of Bac Ninh on June 6. More than 200 booths are present at the three-day VIMF 2018 - Photo: bacninh.gov.vn More than 200 booths are exhibited at the three-day event, the first of its kind held in Bac Ninh province. Theo VNA … [Read more...] about Bac Ninh hosts Vietnam industrial and manufacturing fair
Vietnam industrial
Samsung helps Vietnam train 200 industry experts
The program’s aim is to train 200 Vietnamese experts who are able to provide training to enterprises in the field of support industry. Thanks to experts’ training, enterprises’ competitive capabilities will be able to raise to catch up with their counterparts in supplying in global chains. Before, in the framework of Korean President’ visit to Vietnam in last March, the Ministry and Samsung Vietnam signed a memorandum of understanding about implementation of the training program. Accordingly, the program will run in two years including eight courses each lasting 12 weeks (four weeks for theory training and eight weeks for practicing in local enterprises) With the aim of training 200 experts for the sector in two years, the program will train 100 skillful experts as per a set procedure of Samsung. Minister of Industry and Trade Tran Tuan Anh hailed the significance of the program because it will help enhance capacity of Vietnamese firms, strengthening their … [Read more...] about Samsung helps Vietnam train 200 industry experts
Vingroup enters pharmaceutical industry with Vinfa
Conglomerate Vingroup has announced its entry into the pharmaceutical industry with its Vinfa brand. Along with pharmaceutical research, manufacturing, trading and export-import tasks, Vinfa will focus on the preservation, research and development of traditional Oriental medicines with origins in Vietnamese herbs. Following the success of the Vinmec Medical System and realising the expansion plan in the healthcare sector, Vingroup has established Vinfa Joint Stock Company in the pharmaceutical business, along with an investment to build Vinfa Drug Research and Production Centre in Gia Binh District, Bac Ninh Province. With a total investment of VND2.2 trillion (US$97.7 million), the project’s first phase will be built in an area of nearly 10ha following international standards, including research, production, logistics and support works, according to Phan Thu Huong, chairman of the Vinfa’s Board of Directors. With investment from Vingroup, the entire production process at … [Read more...] about Vingroup enters pharmaceutical industry with Vinfa
Mitsubishi Corporation aims for multi sectoral expansion in Vietnam
Japan's Mitsubishi Corporation is looking to expand investment in transport infrastructure, airport, seaport, energy, and renewable energy sectors in Vietnam. Mitsubishi Corporation has ambition to expand its operation in Vietnam This was announced by Takehiko Kakiuchi, chairman cum general director of Mitsubishi Corporation, at the meeting with Prime Minister Nguyen Xuan Phuc on March 26. At the meeting, the prime minister proposed Mitsubishi to invest in the above sectors and Takehiko Kakiuchi agreed, saying that expansion in these directions would be suitable with the firm’s long-term development plan in Vietnam. Besides, Mitsubishi also eyes the manufacturing sector and the automobile industry in Vietnam. Signing the MoU is an important initiative demonstrating Mitsubishi Motors' strong commitment to accelerating the adoption of sustainable automotive technologies across rapidly developing markets such as Vietnam. In the latest movement, in a meeting between … [Read more...] about Mitsubishi Corporation aims for multi sectoral expansion in Vietnam
Car import tariffs from Japan to Vietnam to be eliminated from 2029
Tariffs on motor vehicles imported from Japan to Vietnam will be slashed to zero from 2029 at the earliest. The tax exemption is part of the Trans-Pacific trade deal signed on March 8 between 11 member countries, including Japan and Vietnam. Industrial products will no longer be subject to trade tariffs between those countries as part of the pact. Vietnam will eliminate tariffs for cars with an engine capacity of over 3000cc 10 years after the CPTPP goes into effect, and the rest will follow suit thee years after that, said Luong Hoang Thai, director general of the Department of Multilateral Relations at the Ministry of Industry and Trade. The earliest date for the pact to come into effect for Vietnam is 2019. While the elimination of tariffs under the CPTPP has been widely regarded as a powerful signal against protectionism and trade wars, Vietnam has been known to raise other trade barriers to counter the loss it incurs from the elimination of import taxes. The most recent … [Read more...] about Car import tariffs from Japan to Vietnam to be eliminated from 2029