VietNamNet Bridge - Economists believe that Vietnam has learned lessons from the 2007-2008 period when Vietnam officially joined the WTO (World Trade Organization). Foxconn is considering setting up a factory in Vietnam Nikkei news on December 16 reported that more textile & garment companies were relocating to Vietnam and Bangladesh to avoid US sanctions against China. The latest report by PwC showed that Vietnam has surpassed China as the economy with the highest capability of attracting FDI next year. The latest report by PwC showed that Vietnam has surpassed China as the economy with the highest capability of attracting FDI (foreign direct investment) next year. RELATED NEWS Vietnam surpasses China in FDI prospects China-US trade war may divert FDI flows to VN Mai Lan … [Read more...] about Will Vietnam be able to absorb FDI flow diverted from China?
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The Hanoitimes - The National Center for Hydro-Meteorological Forecasting (NCHMF) issued warning of threats of landslide and flood in low-lying places and high mountainous areas. Typhoon Usagi made landfall on Vietnam’s south central region and entered the coast of Ba Ria-Vung Tau in the morning of November 25, then dissipating into a tropical depression, according to the NCHMF. As of 1 pm on Sunday, the tropical depression was raging along the coast from south-central Binh Thuan province to southern Ben Tre province, with maximum wind speeds of 60 kilometers per hour. It is forecast to continue moving inland before forming a low-pressure zone over the Cambodia border area at 1 am Monday, NCHMF said. Path and position of the tropical depression. Photo: Nchmf On Sunday, heavy rains were lashing the southern beach town Vung Tau and Ho Chi Minh City on the large scale. Rains have been pouring down the popular beach town, uprooting trees, blowing off dozens of roofs … [Read more...] about Typhoon Usagi weakens to tropical depression after hitting southern Vietnam
Executives from auto companies that will be present at the 2018 Vietnam Motor Show in HCM City in October. VNS Photo The major names taking part include Audi, Chevrolet, Ford, Jaguar, Honda, Land Rover, Lexus, Maserati, Mercedes-Benz, Mitsubishi Motors, Nissan, Subaru, Toyota, Volkswagen, and Volvo. There will also be many spare parts manufacturers and service providers. Toru Kinoshita, chairman of VAMA, said: “The 2018 Vietnam Motor Show is expected to be a special exhibition. The purpose of this show is to better serve the diverse demand of customers, indicate the vision, the open mindset of and quick adaptation by car manufacturers and authorised importers.” This year in the small passenger car segment, in addition to popular brands like Toyota and Honda, there will be new small-sized hatchback models of the Volkswagen Polo, Honda Jazz and Toyota Wigo. The pick-up, crossover, MPV, and SUV segments will be represented by vehicles like the Chevrolet Colorado, Ford … [Read more...] about HCM City to host Vietnam Motor Show
Recently, the Ministry of Finance proposed a fuel tax hike in order to “reduce emissions” and “pay off national debts.” If passed, the hike would increase the current environmental tax rates for petroleum and diesel to the highest level permitted for fuels, at VND4,000 ($0.18) per liter. Every morning, I commute to work on my old, trusty Yamaha-brand motorbike. Every week, I stop by gas stations twice to buy four liters of gasoline for my bike. If the fuel tax hike proposal is passed, I would have to spend an extra VND16,000. Every month, VND64,000 would go from my pocket into the national budget. It’s not about the money. VND64,000 is only worth about three cups of coffee or two bowls of pho, though I have to I admit that paying taxes is nowhere near as fun as drinking coffee or eating pho. But look at what’s happening right now. My neighborhood is still infested with trash. Thick clouds of dust rise from the ground as cars and motorbikes rush down … [Read more...] about Vietnam’s latest tax hike proposal could fuel resentment
VietNamNet Bridge - Once the EU-Vietnam FTA (EVFTA) is signed and the tariff is cut to zero percent, textile and garment exports to the market may obtain 7-8 percent growth rate per annum, experts say. Vo Van Kien Nhan from Viet Tien Garment JSC said he is looking forward to the signing of EVFTA and puts high hopes on the agreement, though he anticipates serious competition from foreign brands such as Zara and H&M. The belief in the high export growth rate from the EU is consolidated by optimistic forecasts about the EU economy. The International Monetary Fund (IMF) predicts a 2.2 percent GDP growth rate for the EU this year. Rong Viet Securities, in its latest report, also affirmed that in the context of the world’s stable economic growth, especially in the EU, the shock to Vietnamese enterprises caused by the sharp fall orders in 2016 will not occur again. RELATED NEWS Vietnam, EU move to finalise EVFTA ratification EVFTA to be ratified in 2018 … [Read more...] about Vietnam’s textile & garment industry expect big benefits from EVFTA