Ministry of industry and trade

(Photo: Antara)   Jakarta (VNA) – Indonesia’s Ministry of Trade will revise 18 ministerial regulations considered to be hampering exports and investments, said the country’s officials recently. Foreign trade director general under the Trade Ministry Indrasari Wisnu said of the 18 regulations, 11 relate to imports while seven regulate exports. Some of them could be revoked if needed, he added. Among them, a regulation regulating imports of machinery and devices is set to be revised before the end of Indonesian President Joko Widodo’s first term on October 20, he added. Indonesian Trade Minister Enggartiasto Lukita also hinted at a revision of a 2018 ministerial regulation on used capital goods imports. The revision of the 18 regulations, he said, was crucial for Indonesia to benefit from investment influxes as a result of industry relocations from foreign countries. According to a recent World Bank (WB) report, Indonesia is struggling to attract … [Read more...] about Indonesia to revise 18 regulations to promote trade, investment

Hanoi (VNA) – The Ministry of Trade, Industry and Energy of the Republic of Korea (RoK) said on October 7 that the country and Indonesia plan to hold the 10th round of negotiations for their Comprehensive Economic Partnership Agreement (CEPA) in Bali this week as the Northeast Asian economy continues efforts to expand its export portfolio in the Southeast Asian market. Their negotiations resumed this year after a hiatus of five years. The previous meeting was held in August. A CEPA is equivalent to a free trade agreement (FTA) but also focuses on a broader scope of economic cooperation beyond trade. According to the ministry, during the upcoming meeting, the RoK and Indonesia will aim to build the details of the agreement's terms, including products and services not mentioned in the previous negotiations. In previous negotiations, the two sides agreed on major parts of the CEPA. The upcoming gathering will pave the way for its conclusion. The RoK has been making efforts to … [Read more...] about Indonesia, RoK to hold 10th round of trade talks

At the event (Photo: VNA) Hanoi (VNS/VNA) - The Japan External Trade Organisation (JETRO) opened “GOOD GOODS Japan 2019” in Hanoi on September 27 to create trade connections between Japanese and Vietnamese enterprises. As many as 52 enterprises from Japan take part along with around 100 Vietnamese companies. The purpose of the programme is to support Japanese small- and medium-sized enterprises operating in consumer goods to exploit and expand the ASEAN market, especially Vietnam's potential market, with consumer products having quality, safety and outstanding design, said Tomofumi Abe, JETRO's project director. Vietnam is a developing economy with an annual GDP growth rate of more than 6 percent, leading to an increase in income and the demand for high-quality consumer goods, according to JETRO. Meanwhile, Japanese consumer goods sector is popular in the world market with products such as kitchen utensils, detergents and cosmetics. The Japanese companies hope … [Read more...] about JETRO holds trade connection programme

Illustrative image (Source: VNA) Thanh Hoa (VNA) – As of August this year, 90.7 percent of the 8,902 communes nationwide had completed targets set for rural power supply as part of the National Target Programme on New-Style Rural Area Building, according to insiders. The figure represents a rise of 45.94 percent over 2010 and 8.32 percent over 2015, heard a conference held by the Ministry of Industry and Trade on October 2 in Thanh Hoa province to review 10 years of implementing the programme. Meanwhile, 7,867 of the 8,902 communes had finished criteria on rural trade infrastructure, surpassing the target assigned by the Government by 18.4 percent and the ministry’s goal by 38.4 percent. However, the ministry also pointed to a number of problems in realizing the two targets. During the implementation of power supply work, problems included unequal  distribution, loss and uninsured supply quality as well as complicated problems in high-voltage networks. For rural … [Read more...] about Over 90 percent of communes complete power supply target: Ministry

Nguyen Van Binh, Politburo member and head of the Party Central Committee’s Economic Commission delivers an opening speech at the event (Photo: VNA) The event is jointly held by the Party Central Committee’s Economic Commission, the Ministry of Information and Communications, the Ministry of Industry and Trade, the State Bank of Vietnam, and other relevant ministries and agencies. Upon addressing the opening ceremony, Nguyen Van Binh, Politburo member and head of the Party Central Committee’s Economic Commission, emphasized that Industry 4.0 is a major trend taking place worldwide that runs alongside the robust development of science and technology. Mr Binh added that digital technology has made significant changes to almost every sector, including production, business, culture, social life, national defense, and security. Over 40 countries and territories globally, including those from developing nations, have so far issued strategies and action plans relating … [Read more...] about Industry 4.0 Summit 2019 and international expo opens in Hanoi