May 10 – The new issue of Asia Briefing Magazine, titled An Introduction to Development Zones Across Asia, is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore throughout the months of May and June.
The use of development zones in their different guises has been an effective model essentially brought to prominence by China over the past 25 years to help both foreign investors and domestic companies meet in a relationship that provides tax advantages to both. Development zones typically permit the foreign investor to bring component parts into a country for assembly without having to pay import duties. Investors may then add in locally-sourced components, assemble the final product, and warehouse it all duty free before then having the option of exporting the finished product (collecting some VAT rebates on the locally sourced portion) or entering the domestic market with a product assembled at local labor costs. Continue reading
May. 3 – Following the relevant customs procedures when importing or exporting goods from Vietnam is one of the most vital aspects of doing business in a country where manufacturing costs are leveraged to its favor. Goods to be imported or exported are subject to the relevant customs clearance standards, which effectively check the quality, specifications, quantity and volume of the goods.
Following the standards set by the Vietnamese government, certain imported goods are subject to inspection. For example, imported pharmaceuticals must undergo testing and also include documents detailing product use, dosage and expiration dates (written in Vietnamese), which must also be included in or on the product packaging. Continue reading
Jul. 5 – In an afternoon news conference on June 30, 2011, Deputy of Vietnam’s Ministry of Agriculture and Rural Development Diep Kinh Tan said Circular No. 13/2011/TT-BNNPTNT would guide the inspection of food safety resources and vegetable imports effective from July 01, 2011.
The Circular clarified that if the origin of plants and goods are not registered with authorities in Vietnam, they will not be allowed to be imported into the country. Goods imported into Vietnam must come from nations which the competent authorities in Vietnam recognize fully meet the requirements for food safety. Goods should also be packaged in the appropriate way, have secondary labeling in Vietnamese, or are labeled in Vietnamese and have been tested and certified as safe. Continue reading
Jun. 27 – The Vietnamese logistics market is still at a very early stage of development, so there are still various difficulties in this area. Nonetheless, the logistics industry is a huge contributor to the country’s gross domestic product. To increase development, logistic companies in the country are looking at new strategies and try to catch bigger opportunities in 2011.
The World Bank ranked Vietnam alongside China, India, Thailand, Uganda, the Philippines and South Africa as the fastest growing developing nations in terms of economy. Continue reading
Mar. 31 – Vietnam’s government aims to boost the nation’s shipping volume by more than 400 percent over the next 10 years by investing heavily in its ports.
The emergent Southeast Asian economy is channeling billions of dollars into building ports for container ships in a move to draw export-oriented industry from China. Continue reading
Dec. 8 – Cai Mep Agricultural Port, one of the region’s largest ports, reopened on December 1.
The 308-meter-long port closed to allow upgrade efforts to take place which aim to more than quadruple its capacity from 30,000 deadweight tons to 160,000 deadweight tons, and will eventually be able to accommodate 200,000 deadweight tons by the end of next year. Presently, it is capable of accommodating ships of up to 75,000 deadweight tons. Continue reading
Oct. 21 – To fully comply with WTO policies, Vietnam has committed to opening up its growing express delivery market to create a level playing field for both domestic and foreign express mailing companies.
Vietnam’s express delivery market has seen tremendous growth over the last few years with total revenue in the sector rising from US$50 million in 2007 to around US$200 million in 2010.
The country plans to open the market up in 2012 to allow joint ventures with 51 percent foreign-invested capital or the establishment of wholly foreign-owned companies in the next five years, Paul Needham, chief editor of CEP Research, told Vietnam News. Continue reading
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
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
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