The Ministry of Industry and Trade advised local businesses that export agro and seafood products to China to step up monitoring the quality of goods and compliance with China’s regulations on quality standards, quarantine and food safety aimed at facilitating customs clearance procedures. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 26
High flying bumper cars
One Mount Group is rumoured to have been established by Techcombank, Masan, and Vingroup Elsewhere, Vinfast plans to launch the first electric car in the US in early 2022, and break even with its earnings before interest, tax, depreciation and amortization (EBITDA) in the next five years. … [Read more...] about What’s next for Vingroup? What is One Mount Group?
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