Corporate news

Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that companies should carefully prepare to meet the EU requirements and avail of opportunities from the EVFTA. In the case of Trung An Hi-Tech Farming JSC, which is looking to increase rice exports to the EU, the ministry will provide further guidance about the potential seeds, production processes, and requirements. The ministry can even seek special mechanism for some exporters to help Vietnam fulfill the EVFTA requirements as well as ensure product quality. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 7

COVID-19-induced uncertainty affects bond markets The COVID-19 pandemic continues to drag on local currency bond markets in emerging East Asia, including Vietnam, as investment sentiment globally and in the region wane and containment measures limit economic activity. … [Read more...] about VN corporate bond market to boom in second half

“Local businesses are the primary engines of job creation, which drive the national economy. With the COVID-19 situation, IFC’s support will enable us to extend financial relief to our local clients,” IFC quoted Gary Tseng, CEO of Phu My Hung, as saying. … [Read more...] about IFC lends Ho Chi Minh City-based property firm $75mn to recover from COVID-19

The current law for the first time stipulates the principles of declaration and determination of calculating prices for associated transactions as follows: declaration, determination of transaction price is based on the principle of analysis, compared with independent transactions and the principle of the nature of the operation, the transaction of determining the tax obligations needs to be paid as in the condition of transactions between independent parties. … [Read more...] about Guiding decrees needed to fight with transfer pricing in Vietnam

Hanoi (VNS/VNA) - Firms with US dollar-denominated debts estimate to regain significantly in the second quarter of this year as the US dollar has devalued against the Vietnamese dong in the period after reporting a surge in the first quarter. In the first quarter of 2020, the USD/VND exchange rate increased by nearly 2 percent to 23,644 VND per US dollar in the context that the global greenback price hit a three-year high with the US Dollar Index on March 20 reaching 102.8, up 6.7 percent compared to the end of 2019. The domestic foreign exchange rate was also affected adversely when currencies of many major trading partners of Vietnam devalued and the domestic market sentiment was hit by the COVID-19 pandemic. According to experts, the COVID-19 pandemic caused the global financial market to plummet. The need to withdraw capital from risky assets to pour into secure, safe assets was the main reason for the rise of the dollar. The appreciation of the dollar against the … [Read more...] about Firms with greenback loans see more positive outlook in Q2