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The Ministry of Finance has recently issued Circular 23/2021/TT-BTC on printing, issuance, management, and usage of e-stamps labeling on tobacco and alcohol products. Illustrative image – File photo Accordingly, e-stamp means having signs recognizable to the naked eye and containing e-information and e-data activatable and searchable on e-portals of the General Department of Taxation and General Department of Customs. Especially, tobacco and alcohol products must be labeled with e-stamps from July 1, 2022. Each home-made or imported cigarette pack or liquor bottle must be affixed with an e-stamp. For cigarette packs and liquor bottles covered with cellophane films, e-stamps would be affixed to products before the outer cellophane layers are sealed. E-stamps would be affixed in such a way that once the cigarette packs or liquor bottles are opened, they would be torn and could not be reused. Cigarette and liquor producers and importers would be allowed to conduct … [Read more...] about E-stamp labeling on tobacco and alcohol products to be mandatory from next year

The mango growing area currently stands at some 87,000 ha, 48 percent of which is in the Mekong Delta. Vietnam shipped over 180 million USD worth of mangoes abroad last year, accounting for only 1.15 percent of the world’s total. China was the largest market of Vietnam, with nearly 152 million USD, or 83.9 percent of the total, followed by Russia, the U.S., the Republic of Korea, the EU, Australia, and Japan, according to MARD’s Agro Processing and Market Development Authority. To achieve the export target, Deputy Director of MARD’s Plant Protection Department Nguyen Thi Thu Huong called on the ministry to upgrade her department’s technical centers so as to carry out studies helping to remove technical barriers, seek new markets, and conduct pre-export checks. She also recommended MARD digitize its databases on farming zones, processing establishments, and packaging facilities. While localities should enhance connectivity between cultivation areas and increase training for … [Read more...] about Ministry targets 650 million USD from mango exports by 2030

Bamboo Airways is looking to raise $200 million with an IPO in the US. Photo: Duc Thanh Last week investors were hoping to make a killing after VinFast – the automaker of Vietnamese behemoth Vingroup – was said to be considering an initial public offering (IPO) in the New York Stock Exchange (NYSE), which could raise as much as $2 billion. Despite a number of flops by other Vietnamese peers, media outlets such as Bloomberg and Reuters reported that VinFast could be valued at around $50 billion after a successful listing – seen as surprising given that car giant Ford was valued at $144 billion in 2018, while VinFast is only a few years old. News of the consideration led Vingroup’s ticker to rise significantly in multiple consecutive trading sessions last week. Meanwhile, Bamboo Airways, a subsidiary of FLC Group, also revealed plans to raise up to $200 million in an overseas IPO in the third quarter of this year, particularly in the United States. The company aims to secure … [Read more...] about Big-shot groups aim again for IPO success

Suez Canal incident keeps Vietnamese exporters busy, photo AFP Furniture exporter Viet Products Corporation last week said that even though the backlog has been cleared up at the Suez, it has still borne the growing costs for shipping. “The expense per container has increased to $5,000, from $3,000 last year,” said Nguyen Van Sang, managing director of Furnist, a brand under Viet Products. Sang said that due to operating under the free-on-board form, its partners have been afraid to book new orders, resulting in interruption in its performance. “It takes us several attempts to ship a container. For example, with a 10-container booking, we can only ship about three or four containers, and the remaining ones will have to wait. That has hampered us from delivering on schedule,” Sang said. The seafood industry has also been put in the same corner. Truong Dinh Hoe, secretary-general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that the sector is … [Read more...] about Suez Canal incident keeps Vietnamese exporters busy

According to HCMC officials, Brazilian forwards Joao Paolo, Junior Barrios and Dário da Silva left the club Wednesday. During the transfer window before V. League 2021, HCMC spent big for the Brazilian trio. However, after 10 league games, none lived up to expectations, scoring only two goals. This put a cold stop to HCMC ambitions who were aiming for the V. League title when the season started. But now the club are at 12th with only 10 goals scored and 16 conceded. HCMC have used over 20 foreign players in their squad since 2018, in which only one player could last over one season. The club are planning to add another Brazilian player to the squad after letting the trio go. Cassio Scheid, a 27-year-old that can play as a center-back or defensive midfielder, is one of the club’s main targets. Scheid is valued at €425,000 ($512,435) on football site Transfermarkt. HCMC have been spending big in the last three V. League seasons. Last year, they bought Costa Rican striker duo … [Read more...] about HCMC FC parts ways with three Brazilians