(VEN) - Industrial production and trade grew well in the first half of this year, creating good preconditions for further development and higher achievements in the remaining months of the year. The second half of 2018 is expected to be favorable for produce export development According to the Ministry of Industry and Trade, in the first half of this year, the index of industrial production (IIP) increased 10.5 percent over the same period last year. Rapidly growing manufacturing, processing and electricity production and distribution industries contributed greatly to the industrial sector’s growth target approach. In the first half, Vietnamese enterprises exported goods worth an estimated US$113.93 billion and imported commodities worth about US$111.22 billion, up 16 and 10 percent from the same period last year, respectively, generating a trade surplus of about US$2.7 billion, accounting for nearly 2.4 percent of the export revenues. Notably, domestic … [Read more...] about Positive signals for second half industry and trade
Ministry of industry and trade
Industry and Trade Review presents a cross cutting media
(VEN) - As one of the major economic newspapers of Vietnam with nearly 70 years of history, the Cong Thuong Newspaper (Industry and Trade Review) – the official publication of Vietnam’s Ministry of Industry and Trade – has been making significant changes in line with global media development trends to become an editorial of newsroom convergence. Editor-in-Chief Nguyen Huu Quy (left) and reporters of the Industry and Trade Review at the APEC 2017 Summit Week in the central city of Da Nang In recent years, electronic newspapers using technology platforms and the internet have been gradually overtaking the traditional press, given its speed, flexibility and almost endless platforms and space. One can also access information anywhere and at any time with an internet-connected device like a smart phone. This technological media revolution has changed Vietnamese media, too. Over the past several years, newspaper outlets of all sizes have invested in … [Read more...] about Industry and Trade Review presents a cross cutting media
Ministry of Industry and Trade rejects supermarkets to open all day
Previously, a draft proposal to develop a decree of the Government on development and management of distribution industry was issued by the Ministry of Industry and Trade. However, several organs such as the Chamber of Commerce and Industry of Vietnam (VCCI) expressed disagreements on the proposal. VCCI argued that the government and the Ministry of Industry and Trade are working to cut down the business conditions in the sectors that the ministry manages. However, some of the content in the draft are essentially aimed to add new operating conditions that cause difficulties to businesses. For example, the draft stipulates definitions of supermarkets, trade centers, regulations on supermarket standards, trade centers, including the standards for minimum area, fire prevention, security, safety ... In particular, the draft proposes the opening hours for supermarkets, trade centers: must be open all days of the week, including public holidays, at least from 10 am to 10 pm which VCCI … [Read more...] about Ministry of Industry and Trade rejects supermarkets to open all day
General Director of EVN appointed as Deputy Minister of Industry and Trade
The Prime Minister has approved a decision for nominating Mr. Dang Hoang An, EVN General Director to position of Vice Minister of Industry and Trade (MOIT). The new Deputy Minister of Industry and Trade Dang Hoang An Mr. Dang Hoang An was born in 1965 in Hung Yen province, but his native village in Hiep Hoa district, Bac Giang province. He graduated from the University of Electrical Machines Plzen (Czech Republic) in 1988 with a degree in electrical system engineer. After that, he finished his Master of Asian Institute of Technology (AIT - Thailand) in 1997 specialized in Electrical System Management and Business Administration in 2004. Mr. Dang Hoang An is a master of power system who has worked many years and experienced various positions in the power sector such as Deputy Director of national power system dispatching center (A0), Head of EVN Technical Power Network Department, Deputy Director of Electricity Transmission Company 1, Head of EVN Planning Department, EVN … [Read more...] about General Director of EVN appointed as Deputy Minister of Industry and Trade
Ministry of Industry and Trade streamlines 54 administrative procedures
This is the third time that the Ministry of Industry and Trade (MoIT) has abolished a range of troublesome administrative procedures, with 54 procedures in ten areas eliminated and streamlined. This is the 3rd time that the MoIT has abolished its troublesome administrative procedures - Illustrative image Minister of Industry and Trade Tran Tuan Anh has signed a decision approving the plan to cut a series of administrative procedures and business conditions in 2018. As many as 54 administrative procedures in the areas of energy, import-export, competition management, trade promotion, food safety, and others will be slashed and simplified, with 12 procedures to be removed and 42 procedures to be simplified. Concerning the area of imports and exports, the MoIT will abolish the regulation on the issuance of licences for the import of cigarettes for duty-free goods trading which has been in place since 1998. The ministry also reduced its processing time from five to three working … [Read more...] about Ministry of Industry and Trade streamlines 54 administrative procedures
Minister of Industry and Trade: CPTPP’s promises and perils
(VEN) - On March 9, 11 Asia-Pacific nations including Vietnam signed a landmark trade agreement in Chile. Vietnam Economic News’ Thu Hang & Nhat Quang interviewed Minister of Industry and Trade Tran Tuan Anh about the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Could you indicate the CPTPP’s expected benefits for the Vietnamese economy? Which sectors will benefit most from the trade deal? The CPTPP will have positive impacts on a relatively comprehensive range of fields. However, like any integration frameworks, it will have both positive and adverse impacts. The extent of the CPTPP benefit for the Vietnamese economy depends on actual conditions and how Vietnam implements its integration and reform commitments to achieve sustainable growth and added value for the economy. Like other CPTPP member countries, Vietnam is committed not only to opening its domestic market, removing tariff barriers and further facilitating trade, but also … [Read more...] about Minister of Industry and Trade: CPTPP’s promises and perils
Industry and trade boost HCMC economic growth
(VEN) - The industry and trade sector of Ho Chi Minh City (HCMC) has attained consistently high growth, contributing greatly to the city’s fast and sustainable economic development. Minister of Industry and Trade Tran Tuan Anh (first from left) shakes hands with HCMC People’s Committee Chairman Nguyen Thanh Phong in February 2018 Efficient solutions In 2017, the city’s index of industrial production (IIP) increased 8.48 percent, while retail sales and service revenues soared 10.89 percent over 2016. The HCMC industry and trade sector reached a value added of VND356 trillion plus in 2017, representing 33.62 percent of the city’s annual gross regional domestic product (GRDP). As of February, the city’s IIP grew 15.04 percent compared to the same time in 2017. Four key industries continued to grow thanks to the city’s efficient market expansion and technology and competitiveness improvement efforts. Specifically, the food, beverage and … [Read more...] about Industry and trade boost HCMC economic growth
Ministry of Industry and Trade praised for achievements in administrative reform
The Prime Minister Nguyen Xuan Phuc has praised the Ministry of Industry and Trade for removing hundreds of requirements and permits for businesses. Ministry of Industry and Trade praised for achievements in administrative reform The Ministry of Industry and Trade is the first state agency that has begun to review and remove unnecessary procedures. It has removed 675 out of 1,200 business requirements. The Ministry of Agriculture and Rural Development is in the second place after cutting or revising 118 requirements. The Ministry of Industry and Trade has submitted the revised draft laws on investment and enterprises in which it proposed to remove unnecessary and unsuitable requirements in 20 businesses. Phan Duc Hieu, deputy director the Ministry of Planning and Investment's Central Institute for Economic Management, said, "I've never seen such positive results from state agencies. I have high regards for the Ministry of Industry and Trade because they acted before being … [Read more...] about Ministry of Industry and Trade praised for achievements in administrative reform
20 kinds of goods and services under Vietnam`s state monopoly
According to this draft, there will be 20 kinds of goods and services under State monopoly. The draft was developed for the purposes of specifying the provisions of Clause 4, Article 6 of the Commercial Law in 2005: The State shall exercise the State monopoly in a definite period on commercial activities for some goods or services in some areas for the national benefit. Manufacturing of gold bars among 20 kinds of goods/services under Vietnam's state monopoly. Photo: Internet The government shall specify the list of goods, services and areas where the State monopolizes. According to the Ministry of Industry and Trade, the issuance of the Decree will contribute to improve the transparency, consistency and completeness of the legal system on state monopoly in commercial activities. In addition, it also contributes to a healthy competitive environment when clearly clarifying the scope of State monopoly as well as the rights and obligations of related enterprises, thereby creating … [Read more...] about 20 kinds of goods and services under Vietnam`s state monopoly
Lai Chau Achieving and Exceeding Most Targets for Industrial and Commercial Development
Although the local and national economic situation still sees many difficulties, most of the industrial and commercial development indicators in Lai Chau have reached and surpassed those in 2016. Remarkably, the value of industrial production has reached VND4,343 billion, up 11.2 percent. There has been stable trade, diversified goods, price stability and increased purchasing power. To promote the industrial and commercial sector of the province to develop strongly and at the same time stimulate the entrepreneurial spirit of youth in the field of industry and trade to exploit the local strengths, develop new products, seek expansion of market, the industry has advised and implemented many important solutions. Specifically, Lai Chau Department of Industry and Trade has reviewed sector plans and adjusted them in line with the province's socio-economic development master plan to 2020. Along with that, the Department also has consulted with other agencies to implement projects, plans … [Read more...] about Lai Chau Achieving and Exceeding Most Targets for Industrial and Commercial Development