Firms advised to be cautious when doing business with partners in Latin America
HÀ NỘI — Businesses should carefully study their partners, following a range of trade frauds in Latin America in which Vietnamese firms were victimised, a senior official has said. In addition to coordinating with the Vietnamese Trade Office in information verification, the firms should cooperate with law firms and business associations in Mexico and Latin America as well to diversify the sources of information, Khang said. The Latin American region has for years been a potential market for Việt Nam, according to trade experts. In terms of Việt Nam’s trade exchange, the region has always been among the markets with the highest growth. In the bloc, Mexico is Việt Nam’s second-largest trading partner.
Source:Viet Nam News
August 13, 2023 21:27 UTC
Karate tournament organised for overseas Vietnamese in Japan
Karate tournament organised for overseas Vietnamese in Japan. (Photo: VNA)- A Karate tournament of the Vietnamese community in Japan titled "Suzucho Karate-do Kanto Open 2023" took place at Tokyo dojo on August 12, bringing together dozens of athletes from Vietnamese karate clubs across the country.The event was held by the Vietnam-Japan International Exchange Organisation (FAVIJA) in collaboration with the Vietnamese Karate Association, and the Vietnamese Embassy in Japan.Nguyen Thanh Tai, head of the organising board, said that the event is not only a sports exchange event to mark the 50th anniversary of the Vietnam - Japan diplomatic ties, but it is also an opportunity to test and evaluate the ability of athletes, thereby selecting qualified athletes to participate in major Japanese tournament s.Do Quang Ba, Chairman of FAVIJA, said that the formation of sports clubs, including karate ones, helps young people do practice in order to improve their health, and promote Vietnam-Japan exchange.Kirii Kimihito, a former Karate athlete and currently a coach of a number of Japanese Karate clubs, said he was surprised because this is a traditional sport of Japan, but many young Vietnamese people participate in practice and competition.Through the tournament, Japanese people have more opportunities to interact with Vietnamese young people who love sports, he added.Ikebukuro Karate club championed the tournament, followed by Tennoji and Ken Tokyo clubs, respectively./.
Source:Viet Nam News
August 13, 2023 16:16 UTC
Thailand: one killed, another missing in shipwreck accident
World Singapore fixes September 1 as presidential election day Singaporeans will go to the polls on September 1 to vote for the nation’s ninth President, should there be more than one eligible candidate, according to the Writ of Election, issued by Prime Minister Lee Hsien Loong on August 11. World Indonesia pushes for rubber partnership with Thailand Indonesia is seeking partnership with fellow rubber producer Thailand due to plummeting prices facing the country and the European Union's rollout of an anti-deforestation law. World 7th Cambodian NA to convene first sitting on August 21 The first sitting of the 7th Cambodian National Assembly (NA) will be convened on August 21, nearly one month after its election that took place on July 23.
Source:Viet Nam News
August 13, 2023 10:27 UTC
HoSE welcomes another ETF simulating index of “diamond” stocks
HÀ NỘI — The HCM Stock Exchange (HOSE) on Friday officially put 5.1 million fund certificates of BVFVN DIAMOND ETF into transaction. This is the third ETF (portfolio exchange fund) that mimics the VN DIAMOND index on the market after the VFMVN DIAMOND ETF (FUEVFVND) and the MAFM VNDIAMOND ETF (FUEMAVND) to meet the selection needs of investors, especially foreign institutional investors. VN DIAMOND Index is announced and managed by HOSE, including a minimum of 10 and a maximum of 20 component stocks. The BVFVN DIAMOND ETF is a portfolio swap fund with no operating time limit, managed by Bảo Việt Fund Management Company Limited. Fund founders cum distribution agents include Bảo Việt Securities Joint Stock Company, Securities Joint Stock Company of Bank for Investment and Development of Việt Nam.
Source:Viet Nam News
August 13, 2023 10:27 UTC
Senté brings passion and creativity together
The entrance to Senté is through a small and deep alley, typical of the Old Quarter in Hà Nội. After waiting for about 10 minutes, enjoying the ancient paintings hanging on the walls, gently swaying along to some acoustic tunes, my Senté milk tea (Oolong lotus tea, lotus milk, pandan jelly and lotus pearls, VNĐ55,000) arrived. The next dish served was the 'Shrimp, pomelo flesh and lotus root salad' (VNĐ145,000). The basic ingredients were there – pomelo flesh, shrimp, and lotus roots – but the dressing was well-balanced. I appreciated how the pomelo flesh was cut into bite-sized pieces, ensuring it wasn't crushed when mixed, and retained its juiciness when bitten into.
Source:Viet Nam News
August 13, 2023 05:18 UTC
7th Cambodian NA to convene first sitting on August 21
Illustrative photo (Photo: VNA)Phnom Penh (VNA) – The first sitting of the 7th Cambodian National Assembly (NA) will be convened on August 21, nearly one month after its election that took place on July 23. According to the NA’s announcement released on August 11, the solemn and historic event will be presided over by King Norodom Sihamoni. Senior dignitaries, foreign diplomats in Cambodia, and representatives of several non-governmental organisations are invited to the event. According to the official results announced by the National Election Commission of Cambodia, at the 7th National Assembly election on July 23, 125 candidates were elected to the legislative body. Of these, 120 were from the Cambodian People's Party (CPP) and five from the royalist party FUNCINPEC./.
Source:Viet Nam News
August 12, 2023 20:41 UTC
Orion’s sales in Vietnam hit record in first half
At Orion factory (Photo: VNA)- The sales revenue of the Republic of Korea’s Orion confectionary maker in Vietnam has surpassed 200 billion KRW (150 million USD) for the first time, further solidifying its highly positive growth trend in the Vietnamese market According to the data announced by the company on August 11, its total revenue hit 224.1 billion KRW in the first half, up 14.5% annually.If this growth trend continues, this year’s figure is projected to exceed 500 billion KRW for the first time, amounting to around 540 billion KRW. The 2022 revenue was 473 billion KRW.With a population of nearly 100 million people, Vietnam is emerging as a potential market that can serve as an alternative to China, with its estimated dairy market size of around 7 trillion KRW. For Orion, Vietnam plays a pivotal role as a bridge to tap into the Southeast Asian market and expand its reach in the region./.
Source:Viet Nam News
August 12, 2023 15:27 UTC
Ensuring vaccines for expanded immunisation programme
The Government assigned the health ministry to guide localities in purchasing vaccines, ensuring thrift, efficiency, and safety. Launched in 1981, the national expanded programme on immunisation is providing vaccines to 12 preventable diseases, including tuberculosis, measles, and rubella. According to the World Health Organisation, the programme has saved 42,000 lives and prevented more than 6.7 million childhood diseases in Vietnam. The health ministry said new kinds of vaccines will be included in the programme in the coming time. Meanwhile, vaccines against pneumococcal disease, cervical cancer, and seasonal flu, will be supplied from 2025, 2026 and 2030, respectively./.
Source:Viet Nam News
August 12, 2023 13:13 UTC
Wholesale policy to support virtual mobile carriers
HÀ NỘI — The Ministry of Information and Communications (MIC) will have more wholesale policies to create a more transparent legal corridor, making it easier for virtual mobile carriers to negotiate when buying traffic. Nguyễn Phong Nhã, deputy director of the Việt Nam Telecommunications Authority (VNTA), said that mobile virtual network operator (MVNO) was no longer a new concept. These are businesses that do not own telecommunications infrastructure but still provide mobile services by renting infrastructure from carriers. Up to now, MIC has licensed five businesses to provide virtual mobile network services in Việt Nam, including Indochina Telecom, Mobicast, ASIM, Digilife and VNSky. Virtual carriers only need to sign contracts to buy SIMs from other mobile carriers to be able to provide services.
Source:Viet Nam News
August 12, 2023 11:40 UTC
Insurance sector enjoys positive earnings, attracting investors
HÀ NỘI — The insurance sector is attracting the attention of investors when it comes to investment portfolios because businesses in this group have recorded positive results in recent years. Bảo Việt Insurance Group recorded positive growth with total consolidated revenue of VNĐ28.35 trillion, up 6.3 per cent over the same period in 2022. But thanks to the insurance premiums accumulated in the past, plus the investment profits over time, the total investment value returned to the economy of the insurance businesses achieved positive results. Currently, insurance companies in Việt Nam own a business model based on two main sources of profit, net profit from insurance business and financial profit from investments. A survey by the Việt Nam Assessment Report Company shows that insurance technology (Insurtech) is developing strongly and applied in all stages of the current insurance industry value chain.
Source:Viet Nam News
August 12, 2023 06:13 UTC
First Vietnam Int'l Logistics Exhibition kicks off
250 firms from 22 countries and territories showcase products, services, and latest technologies in the fields of transport and forwarding, services and warehouse systems, packaging and cold chains, and logistics IT. As part of the event, a series of thematic workshops and conferences focusing on urgent issues and the latest trends, ranging from IoT smart technology and export-import competitiveness to cross-border e-commerce, are also taking place. The 3-day expo is attracting the participation of logistics service, equipment, and solution providers, facilitating enterprises’ bids to access international solutions and markets./.
Source:Viet Nam News
August 11, 2023 12:55 UTC
VTIAC kicks off a programme to review legal risks of contracts
HÀ NỘI — Việt Nam Trade and Investment Arbitration Center (VTIAC) coordinated with Việt Nam’s reputable law firms and offices to implement the programme "Support to Review Legal Risks of Contracts” on August 1. The programme, which is completely free for registering from August 1 to October 31, 2023, is open to credit institutions, including banks, financial companies, finance leasing companies and people's credit funds, and businesses of all types and sizes. Under the programme, VTIAC will assist credit institutions and businesses to review and assess legal risks in contract templates, drafts and signed contracts, consulting them to overcome legal risks and simultaneously proposing amendments to the dispute settlement provisions to prevent and limit legal risks. VTIAC is committed to ensuring absolute confidentiality of the provided information and delivering practical results to the business community with thoughtfulness. Please visit VTIAC's official website https://vtiac.vn for details.
Source:Viet Nam News
August 11, 2023 11:35 UTC
Vietnam News in Brief: Week Ending August 11, 2023
Vietnam News in Brief: Weekly Roundup August 11Vietnam Briefing keeps track of what’s happening in Vietnam’s business and economic news so that you don’t have to. The US has actively been pursuing a closer relationship with Vietnam as it seeks to counter China’s influence in Asia. Australian cotton week is underway in VietnamA delegation of cotton industry professionals from Australia is currently in Vietnam to showcase Australian cotton at a series of events in Ho Chi Minh City, Hue, and Hanoi. Vietnam became the biggest market for Australian cotton last year when it imported over US$1.17 billion worth. The cotton industry delegation will be looking to build on that success with this round of events.
Source:Viet Nam News
August 11, 2023 10:29 UTC
2023 International Youth Day: Training youths in green skills
Illustrative image (Photo: baochinhphu.vn)Hanoi (VNA) - The United Nations in Vietnam marked the International Youth Day (August 12) with a ceremony in Hanoi on August 11, with over 50 young people taking part. In line with the theme of this year’s International Youth Day - Green Skills for Youth: Towards a Sustainable World, young delegates and stakeholders engaged in meaningful dialogues about education and the use of green skills in two round-table discussions and various interactive activities conducted both in-person and online. United Nations Resident Coordinator in Vietnam Pauline Tamesis said by 2030, 60% of young people could lack the necessary skills for development in the green economy. She underlined the need to fill the gap and ensure that everyone has equal access to green skills. According to her, seizing new opportunities to foster green employment and future skills is not just an investment in the potential of youths, but also a commitment towards a sustainable world./.
Source:Viet Nam News
August 11, 2023 10:23 UTC
VN imposes anti-dumping tax on sugar products orginating from Thailand
Accordingly, Mitr Phol Sugar, Thailand’s and Asia’s biggest sugar and bio-energy producer, and four associated companies, would be subject to an anti-dumping tax of 32.75 per cent. An anti-dumping tax of 25.73 per cent and an anti-subsidy tax of 4.65 per cent would be applied to Thai Roong Ruang Industry and its five affiliates, the ministry’s announcement said. The ministry said that the anti-dumping and anti-subsidy taxes were additional import taxes, applied to imported sugar products originating from Thailand, including imports under tariff quotas. Việt Nam, in June 2021, decided to officially impose an anti-dumping tax of 42.99 per cent and an anti-subsidy tax of 4.65 per cent on sugar products originating from Thailand in a period of five years starting from June 16, 2021. According to the Việt Nam Sugarcane and Sugar Association, sugar imported from Thailand to Việt Nam caused 3,300 people to lose their jobs and 93,225 farming households to be affected due to difficulties of the domestic sugar industry.
Source:Viet Nam News
August 11, 2023 07:57 UTC