Wholly foreign owned enterprise in china

At the meeting (Source: VNA) Hanoi, August 9 (VNA) – Domestic production has faced strong competition as the US and China are increasing exports to Vietnam on the back of their escalating trade war, head of the Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam Le Trieu Dung said on August 9. At a meeting with Minister of Industry and Trade Tran Tuan Anh on the day, Dung said the US-China trade conflict becomes more intense after the North American country announced to impose additional tariff of 10 percent on the remaining 300 billion USD of goods and products coming from China to the US, and sees China as “currency manipulator”. This will result in considerable competition among local producers, and there is a strong possibility that shipments originating from Vietnam will face protective trade measures in many other nations. It will be a great challenge for the Vietnamese economy as the US and China could step up efforts to prevent trade … [Read more...] about US-China trade war to exert pressure on local production: official

Virgina Foote, representative of AmCham Vietnam, comments on the the draft decree regarding non-cash payments in Ha Noi on Thursday. — Photo danviet A draft regulation put forward by the State Bank of Viet Nam (SBV) that would limit the foreign ownership rate in the payment intermediary service sector to 49 per cent was discussed at a workshop in Ha Noi on Thursday. Legal experts, fintech and e-payment firms attended the workshop held by the Viet Nam Chambers of Commerce and Industry (VCCI). The draft decree includes new policies on the legal synchronisation of cryptocurrencies, managing cross-border payment activities, providing non-account payment services, payment management, perfecting regulations for payment intermediary services, and foreign investment in payment intermediaries. Article 29 sets out the maximum percentage foreign investors can hold, including direct and indirect ownership, at 49 per cent of charter capital of an intermediary payment service provider … [Read more...] about Fintech firms worry about possible foreign ownership limit in payment intermediaries

Bangkok (NNT/VNA) - The Stock Exchange of Thailand (SET) expects continued volatility in capital markets due to the trade dispute between the United States and China, but foreign investor confidence in Thailand remains strong due to the country’s robust economic foundations and profit growth among listed companies. SET President Dr. Pakorn Peetathawatchai revealed that last year, the SET index shrank 10.8 percent from the year before, due to global disruptions from the ongoing trade tension between the United States and China. However, he added that Thailand’s economic foundations remain strong and continued to post higher growth last year, with several publicly listed companies reporting higher profits. This year, the SET President expects further volatility from fluctuating oil prices and the uncertainty surrounding trade policy between China and the US. However, the domestic outlook is more positive, with listed companies expected to post continuous growth.  … [Read more...] about Foreign investors continue to show interest in Thailand

James Kopenec, an US citizen, has become the 15 millionth foreign tourist visiting Vietnam, as he arrived in Ha Long City, the northern province of Quang Ninh, on December 19.  Upon Kopenec’s arrival at the Ha Long international port, a special welcome ceremony was held for him and the other two lucky guests, who came out of the cruise before and after him – Annita De Vriesere from Belgium and Masahiko Nagaishi from Japan, respectively. Recently, Prime Minister Nguyen Xuan Phuc has approved a decision to establish a state-owned tourism development fund, following his approval of a project to restructure local tourism to turn it into a spearhead economic sector and make Vietnam one of the nations with the most developed tourism sector in Southeast Asia. The project sets a target of 45 billion USD in tourism revenue by 2025. The sector is expected to serve 32 million foreign tourists and more than 130 million domestic visitors, contribute more than 10 percent to GDP … [Read more...] about Quang Ninh hosts 15 millionth foreign tourist to Vietnam

Prime Minister Nguyen Xuan Phuc (R) and USABC Chairman Keith Williams (Photo: VNA)    Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has affirmed the Vietnamese government’s determination to reform the country’s business environment and provide all possible support for foreign enterprises, including those from the US, to do business in Vietnam. During a reception in Hanoi on December 12 for a delegation from the US-ASEAN Business Council (USABC) led by its Chairman Keith Williams, PM Phuc said he himself and ministers have always paid attention to approving and accelerating the implementation of major US projects in Vietnam. Lauding the US as one of the most important partners of Vietnam in various areas, he said Vietnam is always sincere, straightforward and open with US enterprises. Mentioning Vietnam’s goal of achieving a balanced trade with the US, the PM suggested that the USABC should play a greater role in promoting bilateral ties and the … [Read more...] about PM promises to create optimal conditions for US enterprises