business

Garment is one of Vietnam's key exports to the RoK. (Photo: sggp.org.vn) HCM City (VNA) – The Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City branch on June 19 organised a conference to promote link between enterprises from Vietnam and the Republic of Korea (RoK). During 2015-2017, RoK’s exports to Vietnam surged 60.5 percent while the country’s imports from the Southeast Asian nation scaled up 61 percent. In 2017, two-way trade reached 61.5 billion USD, up 41 percent year on year, including Vietnam’s exports of 14.8 billion USD, a rise of 30 percent over 2016 and its imports of 46.7 billion USD, up 45.3 percent year on year. In the first two months of 2018, the RoK shipped 7.5 billion USD worth of products to Vietnam, a year-on-year surge of 28.1 percent. The RoK is currently the 2nd largest trade partner of Vietnam and the latter is the 4th largest trade partner of the RoK. The East Asian country mostly bought Vietnamese garment … [Read more...] about Vietnam, RoK foster business connection

Overview of Ambassador Pham Quoc Tru''s working session with Governor of Mostaganem Mohamed Abdenour Rabhi (Photo: VNA) Algiers (VNA) – The Vietnamese Embassy in Algeria has held a three-day trade and investment promotion programme in Algeria’s western province of Mostaganem, a locality with strength of tourism, maritime services and agriculture. On the framework of the programme, on June 17, Ambassador to Algeria Pham Quoc Tru attended a conference with the participation of 50 enterprises operating in different areas, mostly in tourism and agriculture. The Ambassador introduced to local firms major socio-economic achievements of Vietnam as well as the country’s economic strength and sectors with potential for cooperation, especially tourism, services and agriculture. The diplomat answered questions raised by participating enterprises on procedures related to trade and investment in Vietnam. Ambassador Tru invited Mostaganem firms to attend a tourism promotion … [Read more...] about Vietnam promotes trade, investment in Algeria

The Vietnam-Singapore Industrial Park (VSIP) in Quang Ngai Province has attracted 17 projects, worth 383 million USD since it commenced construction in 2013 (Photo: VNA) Quang Ngai (VNA) - The Vietnam-Singapore Industrial Park (VSIP) in the central province of Quang Ngai has attracted 17 projects worth a total 383 million USD since it commenced construction in 2013. The management board of VSIP Quang Ngai said the park, which was built on 600ha of land in the Dung Quat Economic Zone and 520ha of adjacent urban land had an investment capital of 337.8 million USD. Eight projects are currently operational in the fields of leather, textiles and garments, foodstuffs, and beverages, creating more than 13,500 jobs for local residents and experts. Hebei Xindadong Textiles Company of China was seen as the biggest investor in the park with 38 million USD, followed by Hong Kong shoe maker Properwell, and Singapore’s UMW Equipment Systems – an industrial and heavy machinery plant. … [Read more...] about Quang Ngai: VSIP draws 383 million USD

Illustrative image (Source: VNA) Hanoi (VNA) - The daily reference exchange rate for June 20 was adjusted up 15 VND from the previous day to 22,617 VND/USD. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,295 VND/USD and the floor rate 21,941 VND/USD. The opening hour rates at commercial banks also went up compared to June 19. Vietcombank raised both rates by 10 VND, listing the buying rate at 22,810 VND/USD and the selling rate at 22,880 VND/USD. The rates at BIDV were also up 10 VND, standing at 22,815 VND/USD (buying) and 22,885 VND/USD (selling). Techcombank added 15 VND to both rates, buying the greenback at 22,790 VND/USD and selling at 22,890 VND/USD.-VNA … [Read more...] about Reference exchange rate up on June 20

Illustrative image (Source: VNA) HCM City (VNA) – More than 12,440 enterprises in Ho Chi Minh City owed social insurance, employment insurance and health insurance premiums totaling over 2.7 trillion VND (118.2 million USD) as of June 2018, making up 4.2 percent of the annual collection plan. The information was revealed by Director of the HCM City Social Security Phan Van Men at a conference in the city on June 19 to review the implementation of social insurance, health insurance and unemployment insurance policies in the first six months of 2018. He said 2,440 businesses failed to pay the insurance premiums worth 523 billion VND in over six months while nearly 10,000 others owed social insurance insurance fees from two to six months. He added that 387 billion VND (16.9 million USD)out of the total debt amount could not be retrieved, coming from 1,570 dissolved and bankrupt businesses. In the first half of 2018, the city’s Social Security conducted inspections over … [Read more...] about HCM City: Over 12,440 firms owe insurance premiums