Many delegates discuss solutions to reduce congestion at Cat Lai Port in HCMC. (Photo: SGGP) The workshop attracted more than 70 delegates from customs authorities, ministries, and the business community to discuss this action plan. At the workshop, the relevant units announced 21 recommendations to improve the operational efficiency of Cat Lai Port to meet the increasing demand. Before the Covid-19 pandemic, the port was operating at full capacity. Meanwhile, the demand calculated by the number of containers is forecast to double by 2030. The above 21 recommendations are the results of a pre-feasibility study on congestion prevention and logistics facilitation at Cat Lai Port conducted by the Trade Facilitation Project funded by the USAID from May 2020 to March 2021. The study comprehensively reviewed port operations on an area of 160 hectares to assess operational efficiency, bottlenecks, and shortcomings in the process of enhancing the handling capacity of the port. On … [Read more...] about HCMC cooperates with USAID to ease container congestion at Cat Lai Port
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USAID supports efforts to reduce congestion at Cat Lai Port
The United States Agency for International Development (USAID) and the General Department of Vietnam Customs (GDVC) on Thursday released an action plan for reducing congestion at Cat Lai Terminal, Vietnam’s busiest container operation in Ho Chi Minh City. Containers at Cat Lai Port The action plan, unveiled at a workshop co-organized by USAID and GDVC, contains 21 recommendations to help position the port to meet increasing demand. Before COVID-19, the port was operating at full capacity, with demand as measured by container volume expected to double by 2030. The workshop brought together more than 70 representatives from Vietnam Customs, ministries, and the business community to discuss the action plan—the result of a Pre-Feasibility Study on Anti-Congestion and Facilitating Trade Logistics at Cat Lai Port conducted by the USAID Trade Facilitation Program between May 2020 and March 2021. The study takes a comprehensive look at the 160-hectare port’s … [Read more...] about USAID supports efforts to reduce congestion at Cat Lai Port
USAID supports efforts to reduce congestion at Cát Lái Port
Containers at Cát Lái Port, Việt Nam’s busiest container port. — VNA/VNS Photo HCM CITY — The United States Agency for International Development (USAID) and the General Department of Vietnam Customs (GDVC) released on Thursday an action plan for reducing congestion at Cát Lái Terminal in HCM City, Việt Nam’s busiest container port. The action plan, unveiled at a workshop co-organised by USAID and GDVC, contains 21 recommendations to help position the port to meet increasing demand. Before COVID-19, the port was operating at full capacity, with demand as measured by container volume expected to double by 2030. The workshop brought together more than 70 representatives from Vietnam Customs, ministries, and the business community to discuss the action plan — the result of a Pre-Feasibility Study on Anti-Congestion and Facilitating Trade Logistics at Cát Lái Port conducted by the USAID Trade Facilitation Programme between May 2020 and March 2021. The study takes a comprehensive … [Read more...] about USAID supports efforts to reduce congestion at Cát Lái Port
Crafting complete enterprise and investment laws
Riccardo Verzella Senior associate (left) and Ho Ngoc Diep Legal advisor, D’Andrea & Partners Legal Counsel Some new innovations of the aforesaid regulations are more relevant compared to the previous FDI regime, and certain aspects may be further optimised with the aim of improving the ease of doing business in Vietnam for overseas investors. Market access rules were significantly improved under the amended LoI. Before its implementation, based on the previous law, the allowed business fields for foreign investors were only those expressly referred to in a permitted list as mentioned therein. Nevertheless, Vietnam has switched to the so-called “negative list” approach with the LoI: hence, currently, foreign investors may perform all the business activities not included in the Negative List for Market Access for Foreign Investors without differentiation from domestic investors. This innovation indeed removes uncertainty for foreign investors, widens their business … [Read more...] about Crafting complete enterprise and investment laws
Bad vendors put e-commerce at risk
Two customers do online shopping on an e-commerce platform. — Photo vneconomy.vn HÀ NỘI — Smuggled, counterfeit and low-quality products have begun to spread rapidly on e-commerce platforms as the absence of physical product touch in online shopping puts buyers at a disadvantage. Nguyễn Đức Lê, deputy director of the Professional Affairs Department under the Ministry of Industry and Trade (MoIT), admitted that deceptive trade practices have been rising steadily in recent years. “Bad vendors use genuine products for advertisements but deliver low-quality or second-hand products to buyers, depriving them of the warranty rights,” he said. Lê Mai Hương, an enthusiastic online shopper in Hà Nội, shared her bad experience when shopping online with Việt Nam News . “In my experience, shoppers should not buy online stuff sold at prices far lower than market prices, notably cosmetics and drugs, as they are almost fake products. In addition, for clothes and consumer goods, many times … [Read more...] about Bad vendors put e-commerce at risk
Measures put recovery on the front foot
Vietnam has risen in official pandemic recovery indices thanks to production continuity and vaccinations, Photo: Le Toan The International Monetary Fund (IMF) released in April its World Economic Outlook report, stating that global growth is projected to slow from an estimated 6.1 per cent in 2021 to 3.6 per cent in 2022 and 2023. This is 0.8 and 0.2 percentage points lower for 2022 and 2023 than projected in January. “Beyond 2023, global growth is forecast to decline to about 3.3 per cent over the medium term. War-induced commodity price increases and broadening price pressures have led to 2022 inflation projections of 5.7 per cent in advanced economies and 8.7 per cent in emerging market and developing economies - 1.8 and 2.8 percentage points higher than projected last January,” the report said. “Multilateral efforts to respond to the humanitarian crisis, prevent further economic fragmentation, maintain global liquidity, manage debt distress, tackle climate change, and end … [Read more...] about Measures put recovery on the front foot