Exim policy

What are the concerns surrounding the Uyghur Forced Labor Prevention Act (UFLPA) implementation among Vietnamese garment exporters to the US? Association chairman Vu Duc Giang Some of the concerns are real. Since the UFLPA became effective in June, Vietnam has witnessed certain impacts on its garment exports to the US. Vietnam has maintained its position as the world’s third-largest cotton importer with a volume of 1.5 million tonnes per year. This includes 800,000 tonnes of cotton imported from the US, accounting for 60 per cent of the total imports. In January 2021, US Customs and Border Protection announced a ban on raw fibres, apparel, and textiles made from Xinjiang-grown cotton, which also covers cotton products made in third countries. Customs will detain imported merchandise unless the importer can prove by clear and convincing evidence that the goods were not from Xinjiang. What is the status of the recommendations from the US on Chinese cotton? Vietnam … [Read more...] about Facilitating recovery of Vietnam’s yarn sector in midst of US policy enforcement

Dinh Viet Thang, head of the Civil Aviation Authority of Vietnam, said that it has received an official notice from Chinese authorities, asking airlines operating in Asia to avoid flying near the island of Taiwan from 11 a.m. Thursday until Friday. CAAV has informed Vietnamese airlines to adjust flight routes. "Airlines can still operate normally and decide on their own to postpone or cancel flights if necessary," Thang said. Vietnamese airlines which operate flights from Hanoi, HCMC to Taiwan have not yet announced flight cancelation or delays. China on Wednesday warned airlines operating in Asia to avoid flying in areas around Taiwan, promoting several Asian airlines to start adjusting their flight routes. Chinese Xiamen Airlines announced adjustments to several flights, citing "flow control" in Fujian. Korean Airlines is planning to re-route some routes to South Asia in order to avoid Taiwan's airspace while Cathay Pacific Airways pilots were advised to carry 30 minutes … [Read more...] about Vietnamese carriers advised to avoid areas near Taiwan

Hanoi said Vietnam adheres firmly to the “One-China Principle.” Vietnam maintains a “One-China Principle” and urges all parties to refrain from raising the level of tension in the Taiwan Strait, according to the foreign ministry’s statement on Wednesday. Le Thi Thu Hang, Spokeswoman for Vietnam's Ministry of Foreign Affairs. Photo: Baoquocte “Vietnam wishes for all relevant parties to exercise restraint, not to exacerbate tensions in the Taiwan Strait, contributing to maintaining peace and stability, and strengthening cooperation and development in the region and the world,” said Le Thi Thu Hang, Spokeswoman for the Ministry of Foreign Affairs (MOFA). She asserted that Vietnam steadfastly upholds the “One-China Principle.” Hang made the statement following the visit paid to Taiwan by Speaker of the US House of Representatives Nancy Pelosi, the highest-ranking American official to visit Taiwan in 25 years. Tensions around the Taiwan Strait were heightened … [Read more...] about Vietnam calls for restraint on Taiwan Strait

Public officials of the People's Committee of District 3 (HCMC) are handling administrative documents for residents. (Photo: SGGP) “The locomotive” is slowing down According to Professor - Dr. Nguyen Thi Canh, University of Economics and Law under the Vietnam National University HCMC, in 2019, the population of HCMC, excluding temporary residents, is about 9 million people. HCMC has the largest economic scale in the country, but in the past 2-3 years, due to the heavy impact of the Covid-19 pandemic, the city's economy had gone down. HCMC's GRDP reached 21.92 percent of the national GDP in 2015, 22.27 percent in 2017, 21.8 percent in 2020, and 20.12 percent in 2021. Regarding the proportion of budget revenue in the area, HCMC contributed 30.49 percent to the national budget in 2016, but it was only more than 24 percent in the past two years. "HCMC's economy is going down with many indicators," Prof.-Dr. Nguyen Thi Canh emphasized. She added that in 2015, the export proportion … [Read more...] about HCMC needs new strategic resolution for development

At the regular government meeting on August 3 Today, while concluding the discussion on socio-economic issues at the regular government meeting in July, Prime Minister Pham Minh Chinh  praised the efforts and results of all ministries, sectors and localities over the past time. For example, the Ministry of Transport has well carried out public investment disbursement, drastically implemented non-stop toll collection and promoted railway development. The Prime Minister sent his deep condolences to relatives and families of three firefighting police officers who passed away while attempting to put out a conflagration at a six-story karaoke parlor in Cau Giay District in Hanoi and reminded localities to pay more attention to social order, security, safety and people's safety, including fire prevention and fighting. Recently, at the proposal of the Government's Party Personnel Committee, the Politburo issued a resolution to add 65,980 additional teacher payrolls in the period from … [Read more...] about PM asks ministry to solve new passport model-related problems

Illustrative photo. In a pattern that seems to have prevailed for years, a transport project is usually put into operation soon after its inauguration, but then within a short time there is a need for its expansion or upgrade. What is more surprising is that even projects that are still under construction are being reconsidered for expansion or an upgrade. Such as in the case of the Hanoi Highway which has been expanded four times and still not complete. It may be that this Highway may even be further expanded. The Ho Chi Minh City to Long Thanh to Dau Giay Expressway was started in 2009 with an original design plan of four lanes, then soon after increased to six lanes and now being considered for eight lanes. For all we know it may also be extended to twelve lanes soon. The 17 km long metro line 1 has not yet been put into a trial operation but is being considered for an extension to include the route to Binh Duong and Dong Nai provinces. More recently, the 51 km long Trung Luong … [Read more...] about Constant re-planning of transport projects in Vietnam

Mr. Jerome Powell, Chairman of FED Many readers are now wondering how and why the US Federal Reserve Bank (FED) miscalculated on forecasting the current global inflation. In a talk with Saigon Investment, Prof. Dr. Tran Ngoc Tho discussed this issue further. JOURNALIST: - Sir, you are one person who has studied very carefully the inflation in many countries in general and the United States in particular. Please can you give Saigon Investment readers a basic sketch as to how this situation is prevailing and to its effect on other economies. Dr. Tran Ngoc Tho: - There are many factors explaining the current rising global inflation such as broken global supply chains, warming of the jobs market, loose monetary and fiscal stimulus packages, and the recent Russia-Ukraine conflict. It is not just the FED but almost all investors and financial institutions, not only in the US but also in most economies are wrong in believing that high inflation is a thing of the past. However, if … [Read more...] about US Federal Bank caught off guard by global inflation

The Labor Confederation and the Women's Union of District 5 sign an agreement on the coordination to support female workers in the 2022 – 2027 period. (Photo: SGGP) The Women's Union of District 5 in Ho Chi Minh City, in collaboration with the District Confederation of Labor, held a signing ceremony on the coordination to support female workers in the 2022 – 2027 period on August 3. In the past five years, the Labor Confederation and the Women's Union of District 5 carried out many activities to improve legal knowledge for female workers. Through activities and movements, 89 members and 99 typical union members joined the Party. The two units also coordinated with the landlords to not raise the rent and apply electricity and water prices as prescribed. They also mobilized schools to exempt or reduce tuition fees for children of underprivileged workers and organized for children of district public servants and laborers with high academic achievements to attend Thanh Da Summer … [Read more...] about District 5 joins hands to support underprivileged female workers, single moms

The chairman said the COVID-19 pandemic is an opportunity for Vietnam to restructure the tourism industry, turning it into a spearhead economic sector, underlining the need to accelerate restructuring in terms of infrastructure and tourism products on the ground of renewing awareness about the industry. He said that tourism development should be associated with preserving cultural and historical values to educate the tradition while promoting national cultural identity. He noted that tourism development should be linked with the implementation of the national target programs on hunger eradication and poverty reduction as well as the development of mountainous ethnic minority areas and new-style rural building. Hue said that he expects localities to coordinate with the Government, ministries and agencies in accelerating the implementation of the socio-economic development recovery programs, including those supporting businesses and workers in the tourism sector. He hoped that … [Read more...] about N.A. Chairman meets members of economic, culture, tourism club

President Nguyen Xuan Phuc inspects special amnesty work at Xuan Loc prison in Dong Nai province. (Photo: VNA) Dong Nai (VNA) – President Nguyen Xuan Phuc on August 3 inspected the implementation of the 2022 special amnesty work at Xuan Loc prison in the southern province of Dong Nai . The leader highlighted the political and social significance of the policy, saying that it manifests the humanitarian advocacy and special leniency of the Party and State towards prisoners who show good behaviour and high determination to rehabilitate themselves. He noted that since 2007, seven amnesty decisions were implemented, allowing more than 87,000 prisoners to go free before their prison terms. Over the past time, the amnesty work has been carried out cautiously, objectively and democratically in accordance with regulations and ensuring political and legal requirements, helping affirm the consistent guidelines and policies of the Party and State in promoting and protecting human … [Read more...] about President inspects special amnesty work in Dong Nai