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Vietnam tourism destinations attractive to Bangladeshi

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HANOI: South Asia with more than 160 million people, a rapidly growing economy and a growing number of high-income people, Bangladesh is becoming an increasingly attractive market for Vietnamese travel agencies. They have examined the South Asian market and established partnerships with Bangladeshi partners to lure more Bangladeshi tourists to Vietnam. Among those efforts, ATE Vietnam Travel Company participated in ... Read More »

Ministry proposes tobacco tax increase to VNĐ2,000

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HANOI: The Ministry of Health (MoH) on Thursday proposed to raise the tax on tobacco at a press conference on tobacco prevention hosted by the Ministry of Information and Communication. According to the proposal, the tax imposed on a pack of cigarettes is expected to increase to VNĐ2,000 (US$0.088). Meanwhile, the draft law on Special Consumption Tax, which will come ... Read More »

Vietnam still living on FIE exports

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HANOI: Vegetables and fruits were among the key export items with a growth rate of 35.6 percent, a significant achievement if noting that six out of nine farm and seafood produce have seen export turnover decline. Vietnam’s fruits entered choosy markets, the result of efforts to focus on quality improvement and high added-value exports instead of trying to export as ... Read More »

Vietnamese fruit varieties have become mainstream in Canada

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HANOI: After 10 years of negotiations, the US market has opened up to certain fruit varieties from Vietnam, including star apples, mangoes, dragon fruit, longan and lychees. Canadian Canadawide however has been importing from Vietnam for about 15 years and has noticed a significant increase in imported volume over the past ten years. “Consumption of Vietnamese fruits has really taken ... Read More »

Vietnamese phone export to China skyrockets

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HANOI: Vietnam exported nearly 1.5 billion US dollars worth of phones and their components to China in the first quarter of this year, up 4.8 times against the same period last year, according to the General Department of Vietnam Customs on Tuesday. Meanwhile, Vietnam earned over 1.4 billion US dollars from exporting phones and components to the United States, up ... Read More »

Vietnam help from banks to collect Uber’s tax

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HANOI: Officials in Vietnam looking to collect tax from Uber as it exits the country are weighing an option to have domestic banks freeze some payments to the ride-hailing service. Uber has about 53 billion dong ($2.3 billion) in outstanding tax debt. The law allows tax authorities to intercept customer payments through domestic banks if it deems a company’s tax ... Read More »

German delegation seeks trade cooperation with Việt Nam

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HANOI: Việt Nam has changed dramatically in the last three decades, thanks to its dynamic economic growth, and is close to being called an industrialised country. This is a promising start for further expansion of business relations between Germany and Việt Nam. The statement was made by Volker Wissing, Deputy Prime Minister of the State of Rhineland-Palatinate cum Minister of Economic ... Read More »

Vietnam’s Growing Pharmaceutical Market

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HANOI: Vietnam’s pharmaceutical sector has grown significantly in the last decade with positive changes in government policies and an increase in domestic regulations of imported drugs. Regulations on advertising and clinical trials can create obstacles for sellers looking to break into the market, but with the right information, Vietnam offers many opportunities for potential suppliers. Over the past year, Vietnam’s pharmaceutical ... Read More »

Vietnam’s March coal imports drop 30% on year to 1.41 mil mt

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HANOI: Vietnam imported 1.41 million mt of coal in March, down 29.5% from the same month in 2017, according to preliminary data released Tuesday by Vietnam Customs. Indonesia was the biggest supplier of coal in the month with 903,656 mt, spiking 78.1% year on year. But imports from other major suppliers including Australia and Russia fell sharply in March. In ... Read More »

Vietnam first in line to export rambutans to New Zealand

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HANOI: Vietnam has been given the green light to start exporting rambutans to New Zealand. New Zealand’s ambassador Wendy Matthews made the announcement at a ceremony held by her embassy and Vietnam’s Ministry of Agriculture and Rural Development in Hanoi on Tuesday. Rambutan will become the third fruit Vietnam exports to New Zealand after dragonfruit in 2014 and mango in ... Read More »

Vietnamese trade group fears impact of shrimp oversupply

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HANOI: An association representing Vietnamese seafood exporters is concerned that the global oversupply of shrimp will weigh down prices even as farmers expect to up their output 10% over 2017 levels. The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that pricing for the country’s farmers could fall further than the 5% they have already dropped this year. Additionally, ... Read More »

Vietnamese firms turn their backs on China for Japan

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HANOI: Vietnamese businesses are depending less on the Chinese market and looking more to Japan and South Korea, according to a press statement released by HSBC on Thursday. China remains the most important market for Vietnam, with 39 percent of local businesses considering the northern neighbor their top partner, HSBC said in its report, titled: ‘Navigator: Now, next and how ... Read More »

Vietnam’s fruit vegetable exports up 33.4 percent in Q1

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HANOI: Vietnam gained 934 million USD from fruit and vegetable exports in the first quarter of 2018, up 33.4 percent from the same period last year with China, Japan and the United States remaining top importers. According to the Ministry of Agriculture and Rural Development (MARD), the country exported 284 million USD worth of fruits and vegetables in March while ... Read More »

Vietnam’s auto demands rise on import tax cut

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HANOI: More Vietnamese in urban areas plan to buy cars this year after the tax rate of complete built-up units imported from ASEAN countries fell to zero percent from January 1, experts from the Auto Purchase Index of Financial Times Confidential Research (FTCR) said. Vietnam’s Auto Purchase Index (API) jumped 9.4 points from the previous quarter to 73 points in ... Read More »

Vietnam’s coffee exports rake in US$1b

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HANOI: According to the Ministry of Agriculture and Rural Development (MARD), Germany, the US, Indonesia, Italy and Japan were among the country’s key export markets. Germany accounted for more than 14% of exports though its purchases fell by 18% year-on-year. The sector’s export target for the 2017-18 crop is 1.5 million tonnes. In the last quarter of 2017, 400,000 tonnes ... Read More »

Coffee export volumes jump value falls

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HANOI: Việt Nam exported 520,000 tonnes of coffee worth US$1 billion in the first quarter of the year, an increase of 15.1 per cent in volume but a decrease of 1.7 per cent in value compared to the same period last year, according to the Ministry of Agriculture and Rural Development. Germany, the US, Indonesia, Italy and Japan were among ... Read More »

Vietnam’s premier raises 2018 economic growth target to at least 6.7pc

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HANOI: Vietnam’s leader today raised the 2018 growth target for this year to at least 6.7 per cent and said the South-east Asian country must keep opening up for foreign and domestic investors. Prime Minister Nguyen Xuan Phuc also told a cabinet meeting that high inflation is threatening to return, according to a statement on the government’s website.  Phuc’s comments ... Read More »

Imports domestically-assembled cars in battle for market share

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HANOI: Prior to that, a large quantity of Thailand sourced cars were reportedly docked at Vietnam’s ports, ready for delivery after customs clearance. While importers rush to import cars, domestic automobile manufacturers have geared up with their production plans. Hyundai Thanh Cong and Hyundai Group in South Korea have signed an MOU on building a new factory in 2019 which ... Read More »

Chinese enterprises to mention origin of Vietnamese fruits

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HANOI: Chinese enterprises importing Vietnamese fruits to the country must provide information about the origin and quality of such fruits while following import procedures from April 1, 2018. This was announced by Việt Nam’s Ministry of Industry and Trade. The ministry’s Asia-Africa Market Department said the ministry had recently received requests from the provincial authorities to trace the origin of ... Read More »

Tax loopholes in e-commerce need to be eliminated

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HANOI: According to Manh Thi Tuyet Mai from the General Department of Taxation (GDT), the business code system does not include regulations for e-commerce, so it is difficult for taxation agencies to identify the tax obligations of individuals and enterprises doing business online. Meanwhile, paper invoices still prevail in Vietnam. Very few enterprises register to use e-invoices, while the e-invoicing ... Read More »