Mexico to face fierce competition from Vietnam: Mexican economists Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment. Arnulfo Gomez, a foreign trade expert, said Vietnam has successfully implemented a commercial strategy that helps improve the quality and competitiveness of its products on the international market by reducing spending on materials and applying technology in production. With such advantages, Vietnam has more capacity than Mexico to utilise opportunities generated by the CPTPP, he said. The experts suggested that the Mexican Government set forth new measures to raise the competitiveness of domestic businesses, thus avoiding adverse impacts from the deal. Statistics of the Mexican Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 16/12
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BUSINESS IN BRIEF 1/10
VN, India step up textiles ties Textile industry representatives from Viet Nam and India gathered in Nam Dinh City yesterday to exchange information on opportunities for co-operation, especially the potential strengths of textiles in both countries. About 160 businesses from the two countries took part in the seminar-workshop which the Viet Nam Chamber of Commerce and Industry (VCCI) organised in collaboration with the Indian Embassy in Viet Nam, the People's Committee of Nam Dinh, the Ministry of Trade and Industry and the Indian Business Association in Viet Nam. Do Huu Huy, an official of the Ministry of Industry and Trade, said diversification in the supply of textile materials and the sustainable development of the Vietnamese garments industry was not dependent on a particular market. According to Pham Quang Thinh, VCCI deputy head of International Relations, Viet Nam's garments industry must meet the requirements of supply chains to gain at least 10 per cent of world market … [Read more...] about BUSINESS IN BRIEF 1/10
BUSINESS IN BRIEF 5/6
Vietnam eager to develop Lien Chieu deep seaport The government has been urging the authorities to appraise Lien Chieu Seaport, showing strong support and promising smoother sailing for the project. Deputy Prime Minister Trinh Dinh Dung recently urged the Ministry of Planning and Investment (MPI) to appraise the capital sources and mobilisation methods of investment capital at Lien Chieu port. Besides, the DPM assigned the Danang People’s Committee to complete the pre-feasibility report for the project after the city studied MPI’ appraisal. Based on reports of MPI and Danang city, the Ministry of Transport (MoT) was asked to build the investment planning evaluation report to submit the prime minister for approval. The assignment of the DPM shows Vietnam’s eagerness to develop the Lien Chieu Seaport project, which is considered one of two key projects that aim to boost the central city as a main logistics centre in the ASEAN and the East-West Economic Corridor (EWEC) … [Read more...] about BUSINESS IN BRIEF 5/6
BUSINESS IN BRIEF 15/3
New bond trading system launches The second version of the Government bond trading system was introduced by the Ha Noi Stock Exchange last week and will be used for the first time next Monday when Circular 234/2012/TT-BTC takes effect. The system was upgraded in response to provisions in the circular concerning risk management and repurchase agreement (repo) trading. A repo agreement occurs when the selling party agrees to repurchase bonds in the future. The new version integrates bond and treasury bill trading, information systems and a yield curve. "The Government bond market has actively contributed to investment resources of both the State budget and financial institutions this past year," said Deputy Minister of Finance Tran Xuan Ha. In addition, Ha said, the liquidity of the market improved significantly –boosting capital turnover and creating conditions for short-term capital to develop into long-term funding, which would help the domestic economy. The deputy … [Read more...] about BUSINESS IN BRIEF 15/3
BUSINESS IN BRIEF 28/12
EC drops anti-subsidy probe into PSF products Following a 12 month enquiry, the European Commission (EC) has recently decided not to impose anti-subsidy duties against Vietnamese imports of polyester staple fibres (PSF), according to the Vietnam Competition Authority (VCA). In particular, the VCA found that Vietnam’s subsidy margin, which is 1.25%, does not exceed the maximum allowed rate of 2% and therefore the subsidy investigation should be ended. Earlier on December 19, 2013, the European Man-made Fibres Association lodged a complaint requesting the EU impose anti-subsidy duties on PSF exports from Vietnam. The examination period was from October 1, 2012 to September 30, 2013. Accordingly, Vietnam’s preferential and incentive policies and programmes were thoroughly reviewed by the EU. The MoIT effectively co-ordinated with relevant agencies and localities to respond fully and accurately to the questionnaire sent by the EU a VCA representative said, adding that … [Read more...] about BUSINESS IN BRIEF 28/12