Future proof business models

Mangos are packaged to prepare for export (Photo: VNA) Hanoi (VNA) – Meeting tougher technical standards in production and preservation is the key to helping Vietnam’s agricultural products, including fruits, actively raise their export volume and value, an official has said. Nguyen Quoc Toan, Acting Director of the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development, made the remark at a workshop in Hanoi on June 19 that focused on the Republic of Korea (RoK)’s management system of the plant protection product  (PPP) residue list for imported agricultural products. He said although agricultural products of Vietnam boast huge export potential, only when they meet strict production and preservation standards can the possibility of being exported directly to such markets as the RoK, Japan, Taiwan (China) and Europe be improved. Le An Hai, Deputy Director of the Department for Asian – African Markets of … [Read more...] about Firms updated about RoK’s new rules on agricultural imports

Prime Minister Nguyen Xuan Phuc at the sixth GMS Summit “We have been working to meet our commitments to protect intellectual property rights, innovative ideas, and the inventions of startups. We will continue to boost tax policy reforms and corporate income tax will be decreased to 15-17 per cent from the current 20-22 per cent,” stated Prime Minister Nguyen Xuan Phuc at the sixth Greater Mekong Subregion (GMS) Summit. At the summit, the PM said that in 2017, Vietnam continued to maintain one of Asia’s highest economic growths, with inflation controlled at 3.5 per cent. The country’s interest and exchange rates remained stable, trade turnover reached a record $425 billion, and foreign reserves have exceeded $60 billion. According to the World Bank, Vietnam’s Ease of Doing Business Index last year jumped 14 places to stand 68th among 190 economies. The World Economic Forum (WEF) placed Vietnam’s Global Competitiveness Index (GCI) at 55th out of … [Read more...] about PM promises 5-7 per cent corporate income tax cuts at GMS Summit

Le An Hai, Deputy Director of the Ministry of Industry and Trade’s Department for Asian – African Markets, speaks at the workshop. (Photo: VNA) HCM City (VNA) – The full introduction of the Republic of Korea (RoK)’s positive list system (PLS) for agricultural chemical residues in foods is not only a challenge for Vietnam’s farm produce but also an opportunity for the country to improve its product quality to access tougher markets. Le An Hai, Deputy Director of the Ministry of Industry and Trade (MoIT)’s Department for Asian – African Markets, told a workshop held by the MoIT and the Korean Ministry of Food and Drug Safety (MFDS) in Ho Chi Minh City on June 21 to update Vietnamese businesses operating in agricultural production and export on the PLS. The RoK introduced the PLS for imported nuts and tropical fruits in December, 2016, and the country plans to implement the PLS for all agricultural products starting from January 1, 2019, said … [Read more...] about New RoK rules bring challenge, opportunity to Vietnam’s farm produce

The set, compiled by late Czech linguistic professor Ivo Vasiljev and co-author Nguyen Quyet Tien, was completed after 12 years. It comprises six volumes targeting Vietnamese expatriates and Czech people who want to learn Vietnamese. Considered a bilingual encyclopedia, it covers a wide range of subjects, including society, culture, history, biography and geography. At the launching event, Vietnamese Ambassador to the Czech Republic Ho Minh Tuan spoke highly of efforts made by the authors to complete the dictionary.  Nguyen Quyet Tien (R), one of the authors of the Czech-Vietnamese dictionary, presents the complete collection. Photo: Vietnam+ For his part, Tien expressed gratitude for support from organizations and people of Vietnam and the Czech Republic. He also voiced his hope to compile a Vietnamese-Czech dictionary in the future. In May 2016, the project won the second prize of the Dictionary of the Year award by the Union of Interpreters and Translators of … [Read more...] about Complete set of Czech-Vietnam dictionary released

Vinaconex Water Supply Jsc (Viwasupco) reported revenues of almost VND264 billion ($11.43 million) and a gross profit of VND151 billion ($6.51 million) in the first half of this year, a 57 percent gross profit margin. It has seen steady growth since 2012 with demand for water rising as the Hanoi population surges with urbanization. Over the next six years its pretax profits almost quadrupled.   Revenues from supplying tap water last year were worth VND469 billion ($20.31 million), while pretax profits were over VND230 billion ($9.96 million). With an equity of almost VND1 trillion ($43.31 million), the company has a return on equity ratio of 24 percent, among the highest of any listed company. The figures are also far superior to any other water supplier’s in. The company’s gross profit margin of 57.2 percent is higher than that of Ho Chi Minh City’s three water suppliers of 31-37 percent. Viwasupco supplies water to the southwestern part of Hanoi comprising … [Read more...] about Hanoi water supplier’s soaring profits