Business

Contributions from import taxes to the state budget will fall by nearly VND44trn (USD1.88bn) in 2020 after several free trade agreements took effect.

Vietnam’s growth momentum moderated since the beginning of the year, but outlook remains positive, according to Taking Stock, the World Bank (WB)’s bi-annual economic report on Vietnam released on July 1.

The first VND1.12 trillion (USD52 million) solar energy plant in the central province of Quang Tri has been inaugurated.

The Booking Doctor Homevisit app Jio Health has just received the Top 100 best products and services for families and children at the awards ceremony which was held on the morning of June 28 in Hanoi.

About 67,000 new enterprises were registered in the first half of this year, the highest number of the first six months in the last five years, according to the Ministry of Planning and Investment.

Vietnam Free Trade Agreement and the EU – Vietnam Investment Protection Agreement were officially signed in Hanoi on June 30 afternoon.

Inspectors from the Ministry of Construction have halted construction of a large golf project in Ha Nam Province after the investors failed to show construction permit.

Vietnam Electricity Group (EVN) could face difficulties in its electricity supply in the coming time due to the shortage of water, coal and gas for power production.

Many European businesses said Vietnam would be a feasible investment destination after the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Promotion Agreement (EVIPA) come into force.

The EVTA to be signed on June 30 will bring both opportunities and challenges, local firms should be prepared to take full advantages of benefits from the deal, said Sebastian Eckardt, lead economist of the World Bank in Vietnam.

The Vietnamese Government commits to protecting Japanese investors’ interests during their business process in the country, Prime Minister Nguyen Xuan Phuc affirmed while meeting with leaders of nearly 30 Japanese technology firms in Tokyo on June 28 (local time).

Many firms have been found to have wrongly stated the country of origin of their imported products as Made-in-Vietnam given the popularity of Vietnamese goods among customers.

The central province of Quang Nam is facing a stockpile of purpleback squid which has failed to be exported to China due to a lack of origin certificates.

The Vietnam Investment Review in collaboration with Thien Viet Securities Company (TVS) organised a ceremony to honour the Top 50 most effective businesses in Vietnam (Top 50), in Ho Chi Minh City.

Two solar power plants Xuan Tho 1 and Xuan Tho 2 were inaugurated in Xuan Tho 1 commune, Song Cau town in the south central province of Phu Yen on June 27.

Vietnam will strive for a GDP growth of around 6.8% in 2020, according to Directive 16/CT-TTg on the building of socio-economic development plans and State budget estimates for 2020.

The Ministry of Finance has blamed the alarmingly slow disbursement of official development assistance and preferential loans for deadlocks in allocation plans, investment and lending procedures and those related to spending management and capital withdrawal.

The EU-Vietnam Free Trade Agreement will pave the way for Vietnamese exports to the EU, particularly highly-competitive farm produce, seafood, footwear and garment and textiles, according to Minister of Industry and Trade Tran Tuan Anh.

Chairman of the Vietnam Chamber of Commerce and Industry, Vu Tien Loc, has pointed out many problems in current administrative procedures.