Dumping duty on Viet Nam shoes draws fire (11-11-2009) HA NOI — If the EU extends anti-dumping duties against footwear from Viet Nam and China, it will put Europe’s commercial relations with both countries at risk in the long term, warned British First Secretary of State Peter Mandelson. Mandelson told The Financial Times that there was no evidence that the alleged dumping was hurting European manufacturers, which had seen a recovery in their market share, or that consumers were being harmed, so there was no longer any justification for the duties. Anti-dumping duties on footwear had created a division within the EU since first applied to limit low-price imports from China and Viet Nam, allegedly eating into the market share of small European manufacturers, particularly in Italy and Spain, explained Mandelson, who initiated the measure in 2006 when he was EU trade commissioner. Tariffs of 16.5 per cent on Chinese imports and 10 per cent on Vietnamese imports were set for … [Read more...] about Dumping duty on Viet Nam shoes draws fire
Adidas viet nam
Foreign firms look to raise City investment
VietNamNet Bridge – Small- and medium-sized foreign firms in HCM City are looking to increase their capital because they see potential for expansion and growth. Ten biggest FDI projects of 2008 Controls needed for FDI projects using domestic capital Government urged to raise bar on FDI project selection The Dau Tu (Viet Nam Investment Review) newspaper quotes the HCM City Department of Planning and Investment as saying 65 FDI projects operating in the City have raised their investment capital to US$168.9 million in the first nine months of this year. These projects are mainly in the manufacturing, industrial, service and retail sectors. Fastfood chain Lotteria Viet Nam Ltd Co has decided to invest an additional $7 million to expand its chain, while sporting goods manufacturer Adidas Viet Nam has decided to raise its investment by a million dollars to $3.9 million. Retailer … [Read more...] about Foreign firms look to raise City investment
German Chancellor welcomes PM Dung, praises vibrant Viet Nam
Prime Minister Nguyen Tan Dung and German Chancellor Angela Merkel review the guards of honour in Berlin. — VNA/VNS Photo Duc Tam BERLIN (VNS)— Germany values its bilateral ties with Viet Nam, which it sees as a vibrant economy and key player in the birth of the ASEAN Economic Community, German Chancellor Angela Merkel said yesterday. Merkel's appreciation was expressed in talks held with visiting Prime Minister Nguyen Tan Dung in Berlin. The two leaders reviewed progress made in advancing the strategic partnership between both countries, and agreed to work together in celebrating the 40th anniversary of diplomatic ties next year. In economic terms, Germany is Viet Nam's largest trade partner in the European Union (EU). Two-way trade grew by 18 per cent to US$7.7 billion last year. The European country is also the 22nd biggest investor in Viet Nam, with 232 projects worth $1.25 billion. Dung and Merkel agreed to accelerate key projects, including the German House and … [Read more...] about German Chancellor welcomes PM Dung, praises vibrant Viet Nam
Viet Nam calls for more investment
Prime Minister Nguyen Tan Dung gives a speech at the 14th Asia-Pacific Conference of German Business that opened in HCM City yesterday. — VNA/VNS Photo Duc Tam HCM CITY (VNS)— Viet Nam's dynamic economy needs foreign companies, including Germans, to utilise a growing opportunity to invest in infrastructure, renewable energy, transportation, seaport development and other areas, Prime Minister Nguyen Tan Dung said yesterday. The PM addressed the 14th Asia-Pacific Conference of German Business, which took place in HCM City on November 21 and 22. German businesses aimed to promote trade between regional partners, economists and politicians. More than 750 participants, including high-ranking officials and businesses from Germany and Asia-Pacific countries, took part in the conference. Prime Minister Nguyen Tan Dung said despite facing difficulties in recent years, the Asia-Pacific region had emerged as a driver of growth of the world economy, accounting for roughly 55 per … [Read more...] about Viet Nam calls for more investment
Firms evade taxes with transfer pricing ruse
HA NOI (VNS)- The abuse of transfer pricing is growing worse in terms of scale and sophistication as a method of tax evasionin Viet Nam, according to officials fr om the General Department of Taxation. Transfer pricing is a method of cross-border pricing of goods or services that allows a company to shift the costs of providing those goods or services from a low-tax jurisdiction to a high-tax jurisdiction. In the latest development, the department's HCM City office is auditing relations between Adidas Viet Nam and its retailers and other companies affiliated with Adidas worldwide to verify the company's tax-deductible costs. The HCM City tax office has found that transactions between Adidas Viet Nam and associated enterprises, including Adidas AG, Adidas Singapore and Adidas International Trading BV, might be linked transactions showing signs of possibly unlawful transfer pricing. Global beverage giant Coca-Cola and Metro Cash& Carry have also been fingered for alleged transfer … [Read more...] about Firms evade taxes with transfer pricing ruse