Industry Reports

Vietnam and EU Sign Deal to Boost Air Transportation

HANOI, Oct. 6 – Vietnam and the European Union signed an aviation agreement on Monday that will remove nationality restrictions in the bilateral air services agreement between the EU member states and Vietnam.

According the European Chamber of Commerce in Vietnam, the agreement will allow any EU airline to operate flights between any EU Member State and Vietnam, where a bilateral agreement exists and traffic rights are available.

Any EU airline will be able to operate flights between Vietnam and any EU member state in which it is established, where a bilateral agreement between the EU Member State concerned and Vietnam already exists and traffic rights are available. Continue reading →

Single Customs Window Pilot Project to Improve Vietnam Trade

Sept. 28 – Vietnam is working towards improving its trade process with a single window customs pilot project backed by the U.S. Trade and Development Agency.

“This pilot project will help to increase revenue, enforce trade compliance regulations and reduce the cost of cargo movement into Vietnam, an increasingly important partner for the United States in Southeast Asia,” U.S. Ambassador Michael W. Michalak said when the US$718,600 grant was signed on September 15. Continue reading →

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Early Warning Web Site Launched to Help Prevent Anti-Dumping Cases

Sept. 24 – The Vietnam Competition Authority and and the Global Competition Fund of Denmark launched an early warning web site on Wednesday to help prevent anti-dumping cases and support exporters in Vietnam.

The web site is available in Vietnamese and English and initially concentrates on the Vietnam’s top export products: garments and textiles, footwear, seafood, wood products and electric cables for the U.S. and EU markets. Continue reading →

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Authorities Promise to Lower Port Fees

Sept. 23 – Vietnam’s Ministry of Finance has promised to lower port fees in response to letters received from the European Chamber of Commerce in Ho Chi Minh City in April and August.

The EuroCham letters pointed out that fees for the Cai Mep–Thi Vai port are as much as two to four times more expensive compared to other ports in the region, particularly Singapore and Malaysia. Continue reading →

Posted in Business, Economy and Politics, FDI and Foreign Trade, Ho Chi Minh City, Legal and Regulatory, Shipping & Logistics | Leave a comment

Dong Thap Province Seeking US$1.07 Billion for Transport Investment

Sept. 22 – Dong Thap Province in southern Vietnam is seeking VND21 trillion (US$1.07 billion) in investments to upgrade its road and port systems by 2020.

The province is known for its agriculture-based economy, but is working towards shifting to more industry and trade-oriented businesses. It wants to expand trade capacity by developing ports IDI, Bao Mai, Sa Dec, Trang Quoc and others in the Hong Ngu commune. Continue reading →

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Vietnam Airlines Drops Fares in Celebration of Hanoi’s Millenial Anniversary

Sept. 21 – National air carrier Vietnam Airlines has announced that it would slash international airfare tickets from Vietnam by as much as 85 percent in celebration of Hanoi’s 1,000th year anniversary.

Flight bookings must be made starting September 30 to October 10 applicable for trips taken from October 15 to December 21, 2010 and April 1 to May 31, 2011. Continue reading →

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Vietnam Says No to Outdated Steel Technologies

Sept. 20 – The Minister of Industry and Trade said that they will begin rejecting investment licenses for steel projects that use outdated technology.

The minister, Vu Huy Hoang, cited that many have licensed steel projects that are outside the industry’s development planning and use backward technologies, causing serious environmental pollution and waste of energy. Continue reading →

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Vietnam Wants to Attract More Investment in Telecoms

Sept. 17 – Vietnam’s Ministry of Information and Communications has promised to develop new regulations that will entice more investment in the telecommunications sector.

“The telecom sector has achieved impressive growth in recent years and narrowed the gap with developed countries, which has benefited economic growth and improved the living standard of local people,” said Deputy Minister of Information and Communications Le Nam Thang during an industry forum held in Hanoi on Tuesday. Continue reading →

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British Tobacco Ordered to Pay US$18.2 Million in Overdue Taxes

Sept. 14 – Tax authorities have ordered joint venture firm British American Tobacco and Vietnam National Tobacco Corporation (Vinataba), located in the Dong Nai Province in southern Vietnam, to pay an estimated VND263 billion in overdue taxes from 2005-2008.

The U.K.-based company will also be fined VND91 billion for its joint venture with Vietnam Tobacco Corporation. The joint venture, also referred to as BATJV, was qualified for income tax exemption during the first two years of operation and a 50 percent income tax exemption three years after on the condition that the company use a minimum of 40 percent locally grown tobacco plants for production by 2009. Continue reading →

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Vietnam Airlines Cuts Domestic Fares by 50 Percent

Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30.

The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to VND860,000 per flight following the routes below: Continue reading →