However, the competition remained harsh. It was estimated that the tax incentive would help reduce production cost of domestically assembled cars by about 15-17 per cent. In comparison, cars imported from ASEAN were enjoying zero import tax, meaning that their prices were 23-25 per cent lower. … [Read more...] about Enjoying incentives, prices of domestically-produced cars expected to drop
Farm produce store
In the economic growth of 1.81 percent in the first six months of Vietnam’s economy, the agro-forestry-fisheries sector augmented 1.19 percent, contributing 11.89 percent to the general growth; industrial and construction sector advanced 2.98 percent, contributing 73.14 percent; service sector shot up 0.57 percent, contributing 14.97 percent. The main motivation for the economic growth in the first six months of this year was industrial processing and manufacturing which emerged 4.96 percent and market services. Of which, wholesale and retail mounted 4.3 percent; finance, banking, and insurance activities rocketed 6.78 percent. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 2
However, there are some important bright spots to watch. The sector’s critical importance for Vietnam’s overall economy is clear and key steps have been taken to keep operations running despite the lockdown. For example, engineers for at least two major international electronics manufacturers were still allowed to enter the country earlier this year to ensure their factories continued running at full capacity. This contributed to an increase in electronics exports during the crisis. This could help bolster the attractiveness of the country with other manufacturers in a strategically important sector. The Government also worked with pharmaceutical businesses that had begun producing personal protective equipment (PPE) and facilitated access to global markets, leading to a large increase in exports from that sector. … [Read more...] about Emerging from the pandemic, Vietnam must position itself for recovery
Shippers keep a safe physical distance while waiting at a food stall in HCMC – PHOTO: THANH HOA HCMC - The recovery of a 43-year-old British pilot, Vietnam’s last Covid-19 patient in intensive care, marks a turning point in the fight against the virus. The 91st Covid-19 patient in the country has spent over 100 days at HCMC Hospital for Tropical Diseases and Cho Ray Hospital. The length of his stay reflects the determination of doctors not to allow him to become Vietnam’s first Covid-19 death. He’ll be headed home on July 12. … [Read more...] about How did Vietnam dodge Covid-19?
Evidence of the strong will is the success of the growth in trade, an increase of more than 100 times in 2018 compared to 1995. From 2002 to 2011, a growth rate of 1,200 per cent was achieved, where the total investment of $1.5 billion was recorded in 2011, Vietnam reached more than $20 billion in bilateral trade. The figure stood at $75 billion last year, and $30.7 billion in the first five months of this year. As of May 20, the US had 1,032 valid investment projects in Vietnam, registered at $9.34 billion. … [Read more...] about American groups make progress across Vietnam