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BUSINESS IN BRIEF 25/11
The
event is aimed at honouring Asian individuals, organizations, and countries
which have outstanding achievements in many fields including arts,
literature, culture, industry, personalities, lifestyle, innovation, and
sports in the hope of encouraging more accomplishments in the future.
The
event attracted the participation of about 900 invited guests who are chief
executive officers, business owners and diplomats from more than 20 Asian
countries.
Addressing
the ceremony, Minister in the Malaysian Prime Minister’s Department Wee Ka
Siong stressed that it is necessary to highlight excellent performances of
individuals and organizations in
Vietnamese
pop singer My Tam received the "
Maldives
was honoured as Asia’s Best Island Nation Destination, the Philippines was
titled the Fastest Economic Growth Nation, Singapore, Asia’s Most Inspiring
Platform for Business Talents, Uzbekistan, Asia’s Best Nation in
Argo-Industry Development, Thailand, Asia’s Most Attractive Medical Tourism
Destination, and Malaysia, Asia’s Leading Corporate Social Responsibility
Nation.
A fair
on agro-industry, trade and tourism is underway in Hau Giang province as part
of the 6th Culture, Sports and Tourism Festival of the Khmer ethnic people in
southern
Opened
on November 22, the 2014 Mekong Delta – Hau Giang Exhibition and Fair
provides a platform for businesses in the province and the region in general
to promote trade and investment as well as introduce their agro-forestry and
fishery products, traditional handicrafts, high-yield varieties and other
specialties, thus improving the competitiveness of these products.
It
features 350 stands where visitors can discover the strengths, potential and
economic, cultural and tourism achievements of southwestern provinces as well
as the traditional culture of the Khmer ethnic people there.
The
event will run until November 29.
Stock
lending capped at 5 percent of banks' charter capital
Starting
next February, total outstanding loans that commercial banks and branches of
foreign banks may offer for stock investment cannot exceed 5 percent of their
charter capital, according to a circular issued on November 21 by the State
Bank of Vietnam (SBV).
Credit
institutions are qualified to lend for stock investment if their bad debt
ratios are below 3 percent. Loans offered for stock investment cannot be
guaranteed by the stocks themselves. Banks also cannot lend based on any
forms of guarantee by other credit institutions.
Experts
did not expect the new regulations to hurt capital inflow in the stock
market.
A leader
of the SBV's banking inspection and supervision agency told the website
VnEconomy that the limit actually gave more room for lending than the old
rule.
Circular
13, issued in 2010, stipulated that total outstanding loans for securities
investment (which includes stocks, bonds and other securities) could not
exceed 20 percent of banks' charter capital. Of that 20 percent, the majority
of lending went to bonds and just a small proportion to stock investment.
Now
banks will have more money to lend to stocks, he said.
In a
November 18 report, HCM Securities Co estimated the total charter capital of
all credit institutions in the banking system at 435 trillion VND (20.4
billion USD), meaning banks could lend around 21.75 trillion USD (over 1
billion USD) to stock investment. This number is still higher than total
margin lending of around 17 trillion VND (798 million USD) on the stock
market as of October.
The
current size of transactions on both stock exchanges is modest, with just 3-4
trillion VND (141-188 million USD) worth of shares traded each session.
Senior
analyst at MB Securities Co Do Bao Ngoc said the new regulations could have a
short-term psychological impact on investors but would not significantly
affect investment in the market.
In the
medium and long term, the regulation aims to ensure basic conditions for
stable market development, encouraging sustainable investment rather than
depending on bank lending, Ngoc said.
The
circular also slashes the risk ratio of lending to securities and real estate
investments from 250 percent to 150 percent, a move that SBV hopes will promote
development of real estate and stock markets.
Property
market on road to recovery
Potential
is seen in the development of the Vietnamese property market in the next 10
years, as it is now on the path of recovery.
With the
Government's efforts to restructure the property market, housing prices have
since stabilised amid rising liquidity and falling inventories, noted Nguyen
Manh Ha, Director of the Housing and Real Estate Market Management Department
under the Ministry of Construction.
Ha said
the positive trend will continue this year and the structure of housing
products is gradually adjusting to market demand.
Planning
and management shortcomings have caused an imbalance in the property market,
which fell into stagnation from 2011 to 2012 with inventories topping 100
trillion VND (4.7 billion USD) in 2012, Ha revealed.
Experts
cited Government breakthrough policies to tackle market difficulties and help
the realty market get back on track.
The laws
on the real estate business and on housing, which the National Assembly is
reviewing for possible amendment, are also expected to create new stimulus
for the realty market.
Ha
predicted the continued existence of opportunities for property market
development in the next 10 years, adding that an improved legal system and
tightened management are critical to enhancing land use efficiency.
Policies
to attract capital into the property market are also needed, Ha explained,
expecting that property-related taxes and fees to fine-tune market
development in each segment will be in line with real demand, thereby
ensuring social security and preventing speculation.
The
establishment of housing funds is also an indispensable solution, as
arranging capital for housing projects is now an urgent matter, Ha added.-
Vietnamese
bank increases support for businesses in Russia
The Bank
for Investment and Development of Vietnam (BIDV) officially launched its
working team in the Russian market at a ceremony in
The
launch ceremony saw the presence of Vietnamese Ambassador to Russia Nguyen
Thanh Son, BIDV Chairman Tran Bac Ha, and representatives from Vietnamese and
Russian businesses.
The team
is the third unit of BIDV operating in the East European market, following
the IDCE International Company and the BIDV Representative Office set up in
the
Its aim
is to further promote trade and investment between
It will
set up connections with local banks to provide timely support for Vietnamese
firms as well as update them on information on
The
working team was a preparation for the establishment of the BIDV representative
office in
BIDV
issues 30mln USD loan for Myanmar bank
The Bank
for Investment and Development of Vietnam (BIDV) will lend 30 million USD to
The two
parties signed an agreement in principle on the financing in
According
to a BIDV press release, SMIDB will use the loan to support small- and
medium-sized enterprises, industrial development and poverty reduction policies
of
Following
a memorandum of understanding inked in June, the two sides have also
exchanged experience in the application of information technology and the
implementation of trade finance and foreign exchange services.
Hanesbrands
opens third factory in Vietnam
Hanesbrands
The new
factory brings the company's total investment in
Built on
an area of 84,553 square metres, the new plant has recruited 2,000 employees,
and is expected to hire 5,500 to 6,000 local residents once it becomes fully
operational.
With an
annual manufacturing capacity of more than 67 million products, the facility
will focus on producing and processing garment products, especially bras and
woven boxers, two new categories in
Entered
the country since 2007, Hanesbrands Vietnam has set up two production hubs in
the northern Hung Yen and central Thua Thien-Hue provinces, with a total
capacity of producing 400 million products per year.
An
Giang,
Authorities
of the Mekong delta
Omri
Horowitz, President of the Vietnam-Israel Trade Board, who headed the
delegation, said he was very keen on the ideal farming and processing
conditions in An Giang.
Apart
from coming up with environmentally-friendly breeding and processing
technologies,
Le Van
Nung, Vice Chairman of the provincial People’s Committee, said An Giang is
confident of its resources and potential to push further the cooperation with
He
tabled incentives in land rent and corporate tax for Israeli businesses
investing in the locality.
He said
more favourable conditions will be created for foreign enterprises, including
those from
According
to the Vice Chairman,
During
their November 20-22 fact-finding tour, the visiting Israeli businesspeople
visited a number of fish farms and processing facilities of the Viet An
Seafood Company, the Binh Minh Seafood Processing Company, the Angifish
Import-Export Company, the Nam Viet Company and the Thuan An Trade and
Service Company.
To that
end, a conference to promote Vietnam-India tourism and aviation collaboration
will be held in
The
conference is held in the framework of a Farm Tour hosted by the VNAT and
designed for the Indian market, which will take place from November 23–29, he
added.
The
official outlined several measures to enhance tourism and aviation links
between the two countries, such as inviting more Indian travel agencies and
journalists to
Indian
Ambassador to Vietnam Preeti Saran shared that most of Indian travelers
favour cultural and historical sites, especially those related to Buddhism
and Hinduism. Therefore, the world cultural heritage site of My Son in
central Quang
She
suggested the Vietnamese tourism sector strengthen the promotion of its
cuisine among Indian tourists as
The
diplomat also proposed paying attention to visa policies and price
competitiveness with
At
present 10,000 Indian tourists come to
However,
on November 5,
Revised
Investment Law to help lure more FDI: experts
Fundamental
changes in the draft revised Investment Law as well as reforms of foreign
direct investment (FDI) attraction policy, especially tax incentives, will
help
The
listing of sectors and areas forbidden from investment and business or
allowed for investment and business with certain conditions is one of the
most important new points in the draft revised Investment Law, said Quach
Ngoc Tuan, deputy head of the Legal Department at the Ministry of Planning
and Investment.
According
to the draft, six sectors are listed as banned from investment and 272 areas
specified as conditional investment domains, a remarkable reduction from the
current 51 prohibited investment domains and 386 conditional investment
fields as prescribed in the current law, he noted.
The
draft law also provides in great details the forms of investment incentives,
the principles, procedures and conditions to apply those incentives. There
will no longer be a separate investment licence for foreign investors, and
the duration of granting investment licence is shorten to 15 days instead of
45 days, Tuan added.
Meanwhile,
Nguyen Van Phung, head of the Large Taxpayers Office at the Ministry of
Finance’s General Department of Taxation, said new tax policies will benefit
investors remarkably.
VCCI
Director Vu Tien Loc said the draft revised Investment Law, which is expected
to passed soon, clarifies State areas and sectors prioritised for investment,
while addressing problems related to conditional investment domains, thus
building an open and transparent investment environment.
Statistics
from the Foreign Investment Agency under the Ministry of Planning and
Investment, FDI accounts for 22-25 percent of total social investment and is
on a rising trend.
Last
year,
Prof.
Dr. Nguyen Mai, Chairman of the Association of Foreign Invested Enterprises,
said
He however
warned that
Speaking
on the sidelines of the conference, Spanish Ambassador to Vietnam Alfonso
Tena said foreign investment is crucial in fueling the economic development
of
However,
to make full use of the investment,
Electronic
device factory opens in Ha Nam
Anam
Electronics Vietnam, a fully-invested Korean company, inaugurated its factory
producing consumer electronic equipment for export in the
The
facility, which covers 20,000 square metres in Dong Van II Industrial Zone in
Duy Tien district, has a total investment of 31 million USD.
It is
capable of manufacturing 3 million units, mainly audio-visual devices, per
year for export to the European and US markets.
According
to Kim Joo Chae, Chairman of the
He
expects that the plant will help turn the host province into a big regional
audio-visual manufacturing centre.
Quang
Ngai strives towards higher food production
The
central
The
province set ambitious targets for the next harvest in all sectors, including
food production, breeding, and aquaculture at a recent conference to review
agricultural production and aquaculture 2014 and implement a production plan
for Winter-Spring 2014-2015 crop.
It aims
to achieve an output of 479,700 tonnes of food, including 421,200 tonnes of
rice, and raise the numbers of cattle to 748,000 and poultry to 4.6 million
while aquatic production is 6,580 tonnes.
In an
effort to achieve the targets, Quang Ngai set up a seasonal calendar for each
region and encouraged farmers to choose from the main varieties while
expanding organic vegetable production in accordance with VietGap standards.
Chairman
of the provincial Department of Agriculture and Rural Development, Duong Van
To called upon relevant agencies to carry out their functions and
responsibilities, including the maintenance of irrigation works and dyke
systems, and management of the quality of crop varieties, fertilizers,
pesticides, and veterinary medicine.
Bayer
The
growing investment trend in
The
Hoang Anh Gia Lai Group, one of leading private companies in
Tan Tao
– an industrial local group that has virtually no experience in agriculture –
surprised business circle when it announced the launch of ITA rice, a
fragrant rice for exports. The group decided to cultivate rice on 60.3
hectares in the Mekong Delta
Major transnational
groups are also increasing their participation in
Addressing
the 20th meeting of the HCM City Party Committee, which wrapped up on
November 23, he said that his administration will focus on curbing
difficulties facing the city's real estate market, supporting production, and
attracting investment for developing support industries.
Quan
said the city targets an 8 to 10 percent increase in export turnover and will
raise public spending to 30 percent of GDP, compared with 28.5 percent in
2013.
The city
will also continue to create favourable and equitable conditions for all economic
sectors, mobilise official development assistance (ODA) for development,
complete major infrastructure projects, and open up environment protection
activities to the private sector, he said.
He
informed the meeting that the city is set to achieve a GDP of 879 trillion
VND (41.2 billion USD) this year, up 9.5 percent over 2013. Per capita income
reached 5,131 USD in comparison with 4,520 USD in the previous year.
The
municipal administration estimates that in 2014, retail sales and service
turnover will post a year-on-year increase of 12.5 per cent, export turnover
will rise 8.8 per cent year-on-year to $32 billion, and imports will rise 0.3
per cent over 2013 to $26 billion.
Quan
also said that the city adopted market-diversification as a strategy to minimise
negative impacts in some major import and export markets, adding the city has
exported goods to over 200 countries and territories.
Despite
its achievements, the city's economic growth has been relatively sluggish and
its export growth is mostly based on processed goods with low added value, he
conceded.
Small
and medium scale businesses are still facing difficulties, and urban
management is posing a daunting challenge. The city still lacks
infrastructure its development demands, resulting in traffic congestion,
jams, flooding and several environmental problems.
Quan
also admitted that the city has not fulfilled its task of supplying
sufficient clean water for its population while its hospitals remain
overloaded, and food hygiene and safety management needs improvement.-
Agriculture
exporters make inroads into Singapore
More
than 20 Vietnamese businesses selling farm and seafood products are
participating in the Asia Pacific Food Expo (APFE) in
Spanning
from November 21-25, APFE, which is viewed as one of Asia’s largest
food-themed events, offers a good chance for the Vietnamese participants to
seek wider presence in
The
island country is among the biggest ASEAN trade partners of
It is a
promising market for Vietnamese farm produce and seafood, which currently
make up only 10 percent of
Calculations
based on a review of
Around
45% of the city is less than a meter above sea level, rendering the city and
in particular, the transport system highly exposed to flooding, especially
during the rainy season. An economic appraisal shows that an Integrated
Management System (control centre) would take only 8 years to become net
positive in terms of costs and benefits. This could lead to a net benefit of
US$1.4 billion over the next 30 years.
“Infrastructure
has a long lifespan. Investments made today will determinate the future
development of any city tomorrow, especially when it has to cope with both
population growth and an increase in severe weather events such as flooding,”
Michael Stevns, Siemens project leader of the study, said in
“When a
city relies heavily on individual traffic, the biggest lever is mass
transport. Metro lines could be a solution, but they are very expensive and
take very long to build. Intelligent traffic management systems can provide a
head start for a more comprehensive mobility management approach”, said
Stephen Cook, Associate Director of Energy and Climate Change Consulting at
Arup.
In
According
to the World Bank (WB), around 26% of the city’s population is currently
affected by extreme storm events, but this share could climb to more than 60%
by 2050. The study shows that intelligent systems that forecast and respond
to the impact of damaging weather events on the transportation system can ensure
that periods of disruption are minimized and long‑term economic
sustainability is not undermined.
The
paper said in a recent article that Vietnam, together with Cambodia, Laos,
Myanmar and Thailand, is emerging as a new industrial hub attractive to investors
thanks to its low-cost and dynamic labour force.
La
Nación noted that located near the world’s leading supply chain of electronic
products,
After
Intel, other giants from
This
month, Samsung Electronics was licensed to build a mobile phone production
plant at an estimated cost of US$3 billion, bringing the total investment
capital of Samsung-invested projects in
In the
period,
Key
export items included telephones and components, computers, electronic
products, seafood, garment and textiles, fruits and vegetables, coffee,
pepper, and cashew nuts.
Vietnam-Russia
trade balance from January to October 2014 saw an export surplus of US$669
million, accounting for 28.3% of Vietnam‘s total trade surplus.
November
consumer prices sink in two major cities
The Ho
Chi Minh City Municipal Statistics Office announced on November 22 that
consumer prices for November fell 0.36% from the previous month on the back
of decreased petro and transport costs.
Three
baskets of goods that saw declines during the month were transport (2.98%),
housing, electricity, water, fuel and building materials (1.12%) and other
goods and services (0.08%).
In
particular, the foodstuffs and dining-out services groups declined 0.24% and
0.06%, respectively.
The
education and telecommunications group remained unchanged.
Several
baskets that witnessed price hikes for the month were garments, footwear,
home utensils, drinking and tobacco, culture and entertainment,
pharmaceutical and medical services.
The
Municipal Statistics Office also reported that the domestic gold price
dropped 1.14% against October, while the US dollar value went up 0.22%.
One day
earlier, the Hanoi Statistics Office stated the Consumer Price Index (CPI)
for the month declined by 0.3% over the previous month.
Inflation
for the January-November period rose only 1.79%, which was also attributed to
recent reductions in fuel prices, representing the lowest rate of increase in
inflation for 11 month period in the past 10 years.
It was
primarily driven by decreased costs of transportation, which were down for
the month of November alone by 2.93% and restaurant and catering services
(down 0.11%).
Seafood
industry honours 101 enterprises
Vietnam
Fisheries Magazine in collaboration with the Vietnam Fisheries Society (VFS)
on November 22 recognised 101 seafood enterprises at a ceremony in
The best
ten enterprises and the ten excellent individuals received certificates of
merit granted by the Ministry of Agriculture and Rural Development (MARD).
Five
months after the event was launched, the organizing board has received 300
files registering for the title selection competition.
These
enterprises have been honoured for their great contributions to national
economic development and social and charitable activities, said VFS President
Nguyen Viet Thang.
According
to the General Statistics Office, in the first nine months of this year,
seafood exports jumped 23% on-year to US$5.7 billion.
Tea
exports to
Vietnamese
tea exports to
The
average price of tea during the nine month period hovered around US$1,693 per
tonne, up 6% compared to the corresponding period in 2013.
Nguyen
Thi Anh Hong, vice president of the Vietnam Tea Association (VITAS) said tea
exports to
Taiwanese
customs on November 20 confirmed that Vietnamese tea has not been
contaminated and approved its importation into the country, Vice President
Hong said.
US
imposes tariffs on Vietnamese steel nails
The US
Department of Commerce (DOC) has imposed countervailing duties on imports of
steel nails from
In its
preliminary decision, the DOC concluded that all imports of steel nails of
less than 12 inches from
The
petitioner for these investigations was Mid Continent Steel & Wire, Inc.
of
The DOC
began its investigation on June 18, 2014 on steel nails imported January
1-December 30, 2013.
This has
been the fifth countervailing duty complaints of the
Recent
statistics showed that in 2013, the total steel nails exported to the
The DOC
announced it would issue a final decision on the mater no later than March 2,
2015.
Stock
lending capped at 5 % of banks' charter capital
Starting
next February, total outstanding loans that commercial banks and branches of
foreign banks may offer for stock investment cannot exceed 5 per cent of
their charter capital, according to a circular issued yesterday by the State
Bank of Viet Nam (SBV).
Credit
institutions are qualified to lend for stock investment if their bad debt
ratios are below 3 per cent. Loans offered for stock investment cannot be
guaranteed by the stocks themselves. Banks also cannot lend based on any
forms of guarantee by other credit institutions.
Experts
did not expect the new regulations to hurt capital inflow in the stock
market.
A leader
of the SBV's banking inspection and supervision agency told the website
VnEconomy that the limit actually gave more room for lending than the old
rule.
Circular
13, issued in 2010, stipulated that total outstanding loans for securities
investment (which includes stocks, bonds and other securities) could not
exceed 20 per cent of banks' charter capital. Of that 20 per cent, the
majority of lending went to bonds and just a small proportion to stock
investment.
Now
banks would have more money to lend to stocks, he said.
In a
November 18 report, HCM Securities Co estimated the total charter capital of
all credit institutions in the banking system at VND435 trillion (US$20.4
billion), meaning banks could lend around VND21.75 trillion (over $1 billion)
to stock investment. This number is still higher than total margin lending of
around VND17 trillion ($798 million) on the stock market as of October.
The
current size of transactions on both stock exchanges is modest, with just
VND3-4 trillion ($141-188 million) worth of shares traded each session.
Senior
analyst at MB Securities Co Do Bao Ngoc said the new regulations could have a
short-term psychological impact on investors but would not significantly
affect investment in the market.
In the
medium and long term, the regulation aimed to ensure basic conditions for
stable market development, encouraging sustainable investment rather than
depending on bank lending, Ngoc said.
The
circular also slashes the risk ratio of lending to securities and real estate
investments from 250 per cent to 150 per cent, a move that SBV hopes will
promote development of real estate and stock markets.
Enterprises urged to build online brands
In the
rapidly evolving digital age, Vietnamese small- and medium-sized enterprises
are being encouraged to invest in online brand recognition.
Huynh
Viet Phuong, executive director of P.A Viet Nam Ltd Co, known as a domain
supplier in
There
are now many domain options, but ".com" is still one of the most
standard domains used to increase online brand awareness of businesses, with
114.9 million names registered worldwide by third quarter of this year.
Phuong
spoke at a seminar on brand building and intellectual property in
international trade, organised by the Viet Nam Chamber of Commerce and
Industry yesterday in
Domain.com,
managed by Verisign group, the world's biggest domain supplier, is praised by
experts and is known for its reliability.
Vo Tan
Thanh, deputy general secretary of the Viet Nam Chamber of Commerce and
Industry, said the country still did not have enough brands with
international recognition, mostly due to weak management, limited knowledge
and unknown trademarks.
According
to a survey conducted by Ha Noi National Economics University's Business
Management Institute, 98 per cent of Vietnamese SMEs lack trademark
development strategies. This is due to many reasons, including financial
shortage and lack of experience in building strong trademarks.
Thanh
said that creating a good trademark would help improve national competitive
capacity. It requires efforts from both state management agencies and
businesses themselves.
New
agency launched to support Japanese businesses in Viet Nam
Japan
Desk, which the Ministry of Planning and Investment's Foreign Investment
Agency founded, debuted here yesterday with the aim of helping Japanese
businesses learn about investment opportunities in
At the
event, Do Nhat Hoang, the agency director, spoke highly of the great
contribution of
Hoang
said the desk would update Japanese businesses with useful information about
the country's investment climate, answer their queries and provide them with
legal consultancy services and investment formalities.
The
investment and planning ministry predicted that Japanese investment in the
country would likely increase significantly in the future, with focus on
pharmaceuticals and chemicals, as well as steel production, machinery,
transport and electronics.
Up to 70
per cent of Japanese companies with overseas investments have expressed a
preference for investing in
Kawada
noted that among ASEAN countries,
Dinh
Ngoc Hai, chairman of the Viet Nam-Japan Business Association, told a recent
conference here that
Hai said
Since
SMEs differed significantly from large corporations, there was a need for
Vietnamese authorities to develop policies specifically for SMEs, he added.
VN,
The Viet
Nam Chamber of Commerce and Industry (VCCI) and the Hong Kong-Viet Nam
Chamber of Commerce last Friday signed an agreement to further expand
investment and trade between their two business communities.
Addressing
the function, executive vice-president of VCCI Doan Duy Khuong said:
"The agreement will help both sides' enterprises strengthen business
exchange and increase investment in Viet Nam and Hong Kong, and boost Viet
Nam-China economic and commercial relations to an even a higher level."
Jonathan
Choi, chairman of the HKVCC, said: "Apart from the ASEAN +
Bilateral
and multilateral agreements combined with an in-depth integration of regional
economics will bring the East Asian region into a competitive and vibrant
economic region, Choi said, who is also chairman of Sunwah Group.
Regarding
bilateral trade with
The
items traded include clothes, textiles, accessories, leather and shoes, metal
and steel, computers, electronics and accessories, machinery and tools,
parts, fishery, rice, wood and wooden products.
In the
field of investment, by October 20, Hong Kong had 853 projects with a
combined investment capital of $14.1 billion in
The
signing ceremony took place as part of the visit of Gregory So, the Secretary
for Commerce and Economic Development of the Hong Kong Special Administrative
Region.
Ministry
amends decision after trademark lawsuit
The
Vietnamese Ministry of Science and Technology has just decided to amend a
decision they issued a year a go after an American firm sued for brand
damage.
In the
first decision, the ministry canceled the effect of a decision by the
Department of Intellectual Property that took away the rights for a company
called Hiep Tien Long to use the brand name P.T. & Hình. The US-based
firm also claimed the rights to this brand.
However,
the ministry stated that it was not an amendment, but the first decision had
expired.
“The
change came rather suddenly but would soon be applied to related agencies,
organisation and individuals,” an official from the ministry said.
However,
Malco Products Inc., the petitioner in the suit, said the new decision does
not adequately settle the intellectual property dispute they had with Hiep
Tien Long.
They
urged the ministry to order Hiep Tien Long pay compensation for their losses,
as a shipment of their lubricant with the brand name as P.T. & Hình has
been held up at the
The
lawsuit between Malco and Hiep Tien Long dates back to 2007. The
above-mentioned brand name was owned by PPI Comany and then sold to Malco.
However, Hiep Tien Long used the same brand name for the same lubricant
marketed in
Japanese
enterprises face difficulties investing in Vietnam
As many
as 50% of Japanese companies say they face difficulties related to investment
procedures when doing business in Vietnam, said Atsusuke Kawada, the chief
representative of Japan External Trade Organisation (JETRO) in Hanoi.
Speaking
at a ceremony on November 21 for the launch of Japan Desk service, which aims
to support Japanese firms operating in Vietnam, Mr. Kawada said that many
Japanese companies still complain about complicated administrative and
taxation procedures in Vietnam.
He added
that the number of views on JETRO’s website reflected the fact that
According
to
Do Nhat
Hoang, head of the Foreign Investment Agency under the Ministry of Planning
and Investment, said Japan is the second largest foreign investor in Vietnam
and the biggest ODA provider.
A number
of Vietnamese agencies have been cooperating with Japanese partners to make
procedures easier for Japanese companies in
Hoang
hopes that the operation of Japan Desk will help to improve the situation.
According
to the Foreign Investment Agency Japan currently has 2,434 projects in the
country, accounting for a total of USD36.5 billion in investment
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 24 tháng 11, 2014
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