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Japan’s FamilyMart to Expand in Vietnam
Apr. 27 – In a joint venture with Phu Tai Group, the Tokyo-based convenience store FamilyMart will set up its first store in Vietnam later this year. FamilyMart’s primary shareholder, the trading house Itochu Corporation, will assist with product development and distribution in the Southeast Asian country with the goal of establishing 300 stores by […]
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Vietnam’s Stimulus Plan Dips into Emergency Reserves
Apr. 24 – A senior Finance Ministry official said that Vietnam will have to dip into national emergency funds to help pay for the country’s recent US$8 billion stimulus package. Speaking at the Asia Society’s Asian Corporate Conference event in Ho Chi Minh City yesterday, Vietnam’s Vice Minister of Finance Do Hoang Anh Tuan said […]
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Inflation Rate Slows to 9.2 percent in April
Apr. 23 – Dropping telecommunications and transportation costs have eased Vietnam’s inflation rate to 9.2 percent for April. According to the General Statistics Office, the inflation in April was driven mainly by increases in the cost of food, beverages, home appliances and garments and textiles, said the General which often issues the data before the […]
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PM: Economy to Improve after First Quarter
Apr. 22 – Vietnam’s Prime Minister Nguyen Tan Dung said that despite the country’s growth slowing to the lowest levels in a decade this quarter, he expects things to get better in the remaining three quarters of the year on the heels of the US$ 8 billion stimulus package. “I believe in the second, third, […]
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Vietnam to Offer Better Conditions for Chinese Investors
Apr. 21 – The Vietnamese Government is promising better conditions for Chinese investors looking into doing business in the country. Prime Minister Nguyen Tan Dung said the statement during a Vietnam-China Business Forum held in Guangzhou city, adding that Chinese-invested projects in the country were going smoothly. A reported 600 Chinese-invested projects are now in […]
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New Economic Zone to be Built in Mekong Delta
Apr. 20 – A plan to build a new economic zone in the Cuu Long or Mekong Delta has been approved to include Can Tho City and the three provinces of An Giang, Kien Giang and Ca Mau. The zone will specialize on rice production, farming, fishing and processing of marine products as well as […]
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Trade Treaty with Japan to Cut Export Tax Fees
Apr. 17 – The Vietnam-Japan Economic Partnership Agreement will remove import tariffs on 2,586 Vietnamese goods by the middle of the year. The deal translates to major export opportunities for both countries. By 2019, import tariffs will be cut from 6,302 Vietnamese goods and 94.5 percent of Vietnam’s exports and 87.6 percent of Japan’s exports […]
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New Rules on Garment Exports to the United States
Apr. 16 – The Ministry of Industry and Trade (MIT) has announced that certain garment products bound for export to the United States will need to apply for a Certificate of Origin at the Vietnam Chamber of Commerce and Industry (VCCI) starting May 24. The new regulation affects garment products in categories 338, 339, 340, […]
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Garment Firms to Focus on Local Market
Apr. 15 - The chairman of the Vietnam Garment and Textile Association said that the country's garment and textile industry should focus on developing the domestic market now that exports are declining.
Le Quoc An added that this year, global demand for garments may decrease by 15 percent so a target of US$9.2 to US$9.5 billion will be a huge challenge for the domestic garment industry.The slowing global market has led to a decrease in export demand as people living in the U.S. and EU are holding back spending.
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Vietnam Seeks US$6.43 Billion Foreign Loans in 2009
Apr. 14 - The Vietnamese government has announced that it plans to borrow up to US$6.43 billion from foreign governments and banks this year.
The loans will pay for new infrastructure in the form of roads, bridges and water supplu systems. The government will borrow US$1.1 billion for medium and long-term commercial loans with an additional US$1.73 billion in foreign governments' official development assistance and soft loans.