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VND34 trillion in tax debts irrecoverableThe Saigon Times Daily A person checks Vietnamese banknotes. The General Department of Taxation says roughly VND34 trillion in tax debts could be irrecoverable as of late June this year - PHOTO: TL HCMC – Roughly VND34 trillion (US$1.47 billion) in tax debts could be irrecoverable as of late June this year, up 8% against late last year, said Dang Ngoc Minh, deputy head of the General Department of Taxation, speaking at a July 20 preliminary tax conference reviewing the first half of the year. Minh was quoted by the VnEconomy news website as saying that tax departments collected more than VND17.9 trillion (US$778.4 million) in tax arrears during the six-month period. This figure was equal to 43.1% of debts up to 90 days and over 90 days, compared with late last year. He noted that recoverable tax debts were estimated at some VND46.1 trillion (US$2 billion), a 10.7% rise against end-2017, while the irrecoverable debt figure rose 8% … [Read more...] about VND34 trillion in tax debts irrecoverable

First seawater desalination shipment sent to Saudi ArabiaThe Saigon Times Daily A vessel is leaving Doosan Vina Quang Ngai Port, transporting the Shoaiba-4 seawater reverse osmosis desalination project to Saudi Arabia – PHOTO: TTXVN HCMC – Doosan Heavy Industries Vietnam (Doosan Vina) has sent its first shipment of the Shoaiba-4 seawater reverse osmosis desalination project to Saudi Arabia, as part of a US$430-million contract with Saudi Arabia’s Saline Water Conversion Corporation (SWCC) signed last year, the Vietnam News Agency reported. The first shipment weighs 566 tons, and includes 12 “Made-in-Vietnam” desalination pressure units, which are 6.4 meters high and wide and 8.3 meters long, along with seven re-mineralization tanks which are 5.6 meters tall and wide and 10.6 meters long, to re-mineralize desalinated water. According to Doosan Vina, its equipment uses a water purification technology, known as reverse osmosis, which forces seawater, … [Read more...] about First seawater desalination shipment sent to Saudi Arabia

MEDay 2018: speakers advocate expanding e-commerce on mobile devicesBy Chi Thinh Le Hoang Vy, manager of Lazada University Vietnam at Lazada Group, shares her experience in designing online stores and marketing products to attract more customers - PHOTO: CHI THINH HCMC – Mobile E-commerce Day 2018 (MEDay), a conference held on July 20 in HCMC, delved into consumer trends, sales methods and marketing strategies to promote consumer sales using mobile devices. The event, entitled “Sales on mobile devices – Proper understanding and performance”, was attended by representatives from Nielsen Vietnam, Zalo Business, Lazada Vietnam and other firms. Addressing the conference, e-commerce marketing experts said that enterprises and online sellers should pay more attention to customer services and optimize marketing tools, as well as increase investments in e-commerce on mobile platforms, as most customers frequently shop online or search for product information … [Read more...] about MEDay 2018: speakers advocate expanding e-commerce on mobile devices

Danang to launch pilot project on seafood tendersBy Nhan Tam Various seafood products displayed for sale at the Tho Quang Wholesale Market - PHOTO: NHAN TAM DANANG – The Danang government has written to the Management Board of Tho Quang Wharf and Fishing Port approving a pilot project for putting up Vietnamese seafood products for tender at the Tho Quang wholesale market, in a bid to stabilize prices. The project is expected to be executed between August 2018 and January 2019 at the Tho Quang market in Son Tra District in Danang City. The project is open to participation from the owners of fishing boats, who have a food safety certificate and have registered in advance to attend the tenders, as well as for fish traders, fishing barn owners and seafood facilities and processors that have a business registration certificate. Apart from stabilizing prices, the pilot project aims to provide information on the development of the city’s seafood industry. The project is … [Read more...] about Danang to launch pilot project on seafood tenders

Fishing boats ordered to install positioning devices by October By Trung Chanh A man is seen cutting a big tuna, one of the seafood products exported to EU market. Fishing boats are ordered to install positioning devices by October – PHOTO: TRUNG CHANH CAN THO - The Ministry of Agriculture and Rural Development has asked localities to finish installing satellite-positioning devices on offshore fishing boats by October this year. According to a source, the ministry has ordered the recall of positioning devices on small fishing boats that measure less than 24 meters in length to have them installed on larger boats instead. The leftover devices should be returned to the Fisheries Surveillance Department so that they can be distributed to other localities. According to the Vietnam Association of Seafood Exporters and Producers, Vietnam has roughly 110,000 fishing boats, 33,000 of which are offshore fishing boats. Of this, only some 3,000 boats are equipped with … [Read more...] about Fishing boats ordered to install positioning devices by October

Domestic enterprises call for more incentivesThe Saigon Times Daily Laborers are seen working at a local company. According to HAMEE, high taxes and complicated procedures are hindering the growth of domestic businesses – PHOTO: QUOC HUNG HCMC – High taxes and complicated procedures are hindering the growth of domestic businesses, the chairman of the HCMC Association of Mechanical-Electrical Enterprises (HAMEE), said at a meeting with 30 enterprises of HAMEE on July 18. HAMEE proposed the city government address the problems, local media reported. Do Phuoc Tong, chairman of HAMEE, noted that the main hindrance was the tax policy, explaining that enterprises importing machines are enjoying a zero tax rate, while domestic enterprises buying parts of machinery are subject to a 10% tariff. Unreasonable prices resulting from this tax differential and Vietnam-made products that allegedly fail to compete with high quality products from Japan, South Korea and Europe serve … [Read more...] about Domestic enterprises call for more incentives

Vietnam ETE, Enertec Expos showcase eco-friendly equipmentBy Hung Le Visitors look at equipment and technologies at a booth at the exhibition - PHOTO: HUNG LE HCMC – Two international exhibitions on energy-saving and ecofriendly electrical equipment and technologies kicked off at the Saigon Exhibition and Convention Center in HCMC's District 7, featuring 185 domestic and foreign enterprises with some 300 booths. The 11th International Exhibition on Electrical Technology & Equipment (Vietnam ETE 2018) and the 8th International Exhibition on Products, Technologies of Energy Saving & Green Power (Enertec Expo 2018) also feature as many as 20 booths showcasing solar panels manufactured by local and foreign firms, with the aim of diversifying products in the local market. Among the enterprises participating in the expo, 65% operate in the electrical equipment sector, including HCMC Power Corporation, Vietnam Electrical Equipment JSC, ABB, Panasonic and Hitachi, and … [Read more...] about Vietnam ETE, Enertec Expos showcase eco-friendly equipment

Storm No.3 disrupts flights to central provincesBy Le Anh Many aircraft are grounded at Noi Bai International Airport due to Storm No.3 - PHOTO: LE ANH HCMC – Many domestic airlines have canceled their flights to the central provinces of Thanh Hoa and Nghe An today, July 18, as a precautionary measure against Storm No.3. Storm No.3 is forecast to make landfall in the evening, packing gale-force winds at level eight and striking coastal areas in the provinces extending from Thai Binh to Ha Tinh, according to the National Center for Hydro-Meteorological Forecasting. Budget airline Jetstar Pacific has canceled four flights to and from Vinh International Airport in Nghe An Province and Tho Xuan Airport in Thanh Hoa Province. It will operate four compensatory flights -- BL8528, BL8529, BL490 and BL491 -- on Thursday, July 19, connecting Vinh City and Thanh Hoa Province with HCMC. In addition, some other flights of the airline at other airports are likely to be rescheduled, … [Read more...] about Storm No.3 disrupts flights to central provinces

Investment in CNG-fueled buses put on holdThe Saigon Times Daily A CNG-fueled commuter bus manufactured by Samco - PHOTO: VAN NAM HCMC – A project to develop a fleet of compressed natural gas (CNG)-fueled public buses in HCMC has virtually ground to a halt due to high operating and maintenance costs. The city kicked off a plan for building 1,680 buses running on CNG in 2014, with preferential loans offered to investors. But high operating and maintenance costs have discouraged investors from participating, Nguoi Lao Dong newspaper reported. According to some transport enterprises, the costs of investing in and maintaining the operation of CNG-fueled vehicles are much higher than those associated with investment in diesel vehicles with the same price support. Low fees and the limited number of passengers hinder investors from expanding to CNG-fueled buses. Numerous enterprises and cooperatives reportedly backed out of plans to invest in the environmentally friendly … [Read more...] about Investment in CNG-fueled buses put on hold

Insurance disputes grow in complexity By Thuy Dung A view of a workshop on insurance disputes in Hanoi on July 17 – PHOTO: THUY DUNG HANOI - Insurance disputes are getting longer and more complex, with some cases remaining unsettled even after 10 years, heard participants at a workshop in Hanoi on July 17. At the workshop on handling disputes via arbitration and conciliation, Pham Thanh Hai from the Insurance Association of Vietnam’s legislation division said that the insurance market has made considerable progress this year and recorded growth in many aspects. Revenue for both life and nonlife insurance has been recorded at high levels. The nonlife market has continued to see sustainable growth, with insurance premiums estimated at VND40.5 trillion last year, a 10.61% rise against the previous year. However, insurance disputes are growing increasingly more complex. “It takes three to five years to settle an insurance contract dispute, but some cases last … [Read more...] about Insurance disputes grow in complexity