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As China Raises Standards, Vietnamese Exports Suffer
May 25 – Since China implemented stricter import quality rules last March, Vietnamese agricultural exports to the country have declined. One of the products affected by the new rules is latex exports. The Information Center for Agriculture and Rural Development said this will lead to a 2 percent drop of latex exports to China by […]
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More Incentives Offered for Investment in Lang Son Province
May 22 – During an investment promotion conference in Lang Son Province last May 20, incentives and fast-track procedures were offered to potential investors. The deputy chairman of the Lang Son People’s Committee, Duong Thoi Giang, said that in addition national investment incentives, interested investors are qualified for a low land lease tax of 1 […]
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HCMC’s First Cable-Stayed Bridge Nearing Completion
May 21 – Ho Chi Minh’s first ever cable-stayed bridge spanning over the Saigon River is nearing completion with the final cables connected last Tuesday. The Phu My Bridge is 2.1 kilometers long and connects District 2 and District 7. Work on the bridge was completed four months ahead of schedule. It is the world’s […]
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More Goods Qualified for 50 Percent VAT Discount
May 20 – Vietnam’s Ministry of Finance has added thousands of goods on their list that qualify for a 50 percent cut on VAT rates until the end of the year. The list added knives and cutting blades used for machines or mechanical tools, welding rods, water tanks with a capacity of more than 300 […]
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Vietnam-United States Container Service to Start June 4
May 19 – Singaporean shipper APL will begin weekly direct container shipping service between Vietnam and the western coast of North America on June 4. “This is the beginning of a new era for trade with Vietnam and marks its increased importance as a manufacturing and export center,” Eng Aik Meng, President of APL, told […]
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South Korean Company Opens US$300 Million Plant in Central Vietnam
May 18 – The subsidiary of South Korean Doosan Heavy Industries and Construction inaugurated a US$300 million plant in central Vietnam with the aim of developing it as a global production hub. Doosan Heavy Industries Vietnam’s plant in Quang Ngai Province’s Dung Quat Economic Zone will make major components and equipment for the flagship company’s […]
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Vietnam Shutdowns Joint Website with China over Paracel Dispute
May 18 – Vietnam has closed the website it ran jointly with China, in protest over escalating tensions over the Paracel islands in the South China Sea. Both China and Vietnam has claimed sovereignty on the islands. The website was then created in 2006 to promote bilateral trade when tensions over the Paracel issue worsened […]
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Vietnam, China and Malaysia Dispute Sovereignty Claims in South China Sea
May 15 – Vietnam and Malaysia have submitted a joint petition disputing China’s territorial boundary claim in the South China Sea. Beijing has rebuked the argument as invalid and illegal and asked the Commission on the Limits of the Continental Shelf (CLCS) not to review the submission. Vietnam and Malaysia released the petition one week […]
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U.S. Still Vietnam’s Largest Apparel Market
May 14 – The country’s biggest apparel export market remains to be the United States despite its economy grappling with the current financial crisis. According to Vietnam Textile and Apparel Association (Vitas) secretary, Nguyen Son, apparel exports to the United States decreased by 4 percent during the first quarter while total export turnover to the […]
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GE Begins Construction of US$61 Million Plant in Haiphong
May 13 – General Electric has begun building a US$61-million manufacturing plant in Haiphong City. The plant, located 100 kilometers east of Hanoi in the Red River Delta, will be making components for other GE manufacturing and service facilities around the world while also providing installation, maintenance and repair services for the components.