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Hanoi (VNA) - Vietnam has conditions and potential to become a developed country in the future as it boasts rich resources and abundant labour, high education lever, geographical advantages connecting Asia and the world, efficient government and patriotic citizens. The remark was made by JaeHo Jeong, Hanoi Bureau Chief of the Korea Times, on January 26 when he was present at the National Convention Centre in Hanoi to cover the opening ceremony of the 13th National Congress of the Communist Party of Vietnam (CPV), the most important political event of Vietnam. “I think Vietnam will have a brighter future than the present,” he said, adding “its role will increase amid the rapidly changing global situation”. More industrial facilities based in China will be relocated to Vietnam, and it will also serve as a key country connecting Europe and Asia with the Europe-Vietnam Free Trade Agreement (EVFTA) taking effect. Nearby Indochinese countries are predicted to … [Read more...] about Reporters pin high hopes on Vietnam’s future

Vietnamese enterprises have delivered and received goods at Vietnamese ports, so the right to hire vehicles is undertaken by foreign partners, Vietnamese shippers depend entirely on foreign shipping companies and are forced to pay surcharges implemented by those shipping companies, according to Nhat. … [Read more...] about Shipping industry needs State support to develop: ministry

Therefore, the ministry has proposed the Prime Minister consider and adjust financial mechanisms to support the development of the fleet, including loans with preferential interest rates. Investment in a fleet of ships requires huge and long-term capital, while local enterprises are unlikely to be able to invest in high-quality fleets, according to Deputy Minister of Transport Nguyễn Nhật. The shipping companies have received very little financial support from the Government in the past few years to carry out fleet development. Interest rates on bank loans in Việt Nam are from 8-10 per cent per year, higher than interest rates in other countries such as Japan (1-2 per cent), Singapore (3 per cent) and China (4.5 per cent). At the same time, when registering a ship to fly the Vietnamese flag, the enterprise must carry out procedures on importing ships and have to pay taxes and fees such as registration fee, value-added tax and import tax on ships. Some ship owners … [Read more...] about Shipping industry needs State support to develop: ministry

Specifically, frozen food must have four certificates—the certificate of quarantine for imported goods, the Covid-19 disinfection certificate, the certificate of origin traceability and the certificate of negative nucleic acid test result. Frozen food imported into Guangxi must undergo inspection and disinfection procedures even though it has completed such procedures in the other localities of China. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 26

He cited the municipal Party Committee’s resolution as saying that the city aims to become a smart city by 2025. At the same time, it expects to become a modern industrial service city and remain the country’s economic hub and leader in innovation and quality of life as well as a driving force of the southern key economic zone and the country as a whole. Its GRDP per capita is expected to reach US$8,500. … [Read more...] about HCMC expects to become economic, financial hub in Asia