Negotiations news business

The minimum monthly wage for workers in Region I, which covers Hà Nội and HCM City's urban areas, is currentlyVNĐ4.42 million (US$191.39), Region II – covering Hà Nội and HCM City's rural areas, along with major urban areas like Cần Thơ, Đà Nẵng and Hải Phòng – will be VNĐ3.92 million. … [Read more...] about Minimum wage likely to remain unchanged in 2021

Hanoi (VNS/VNA) - Container loading and unloading service charges should be increased to approach the regional level so investors would not feel hesitant when pouring money into developing seaports. The proposal was raised at a recent online conference held by the Vietnam Maritime Administration to discuss measures to remove difficulties for seaport and marine transportation companies.  Statistics showed container loading and unloading services charges of seaports in Vietnam were much lower than other regional countries. According to Nhu Dinh Thien, Deputy General Secretary of the Vietnam Ship Agents and Brokers Association, the charges were about 33-53 USD per 20ft container and 57-98 USD per 40ft container. In comparison, Thailand charges around 59 USD per 20ft container and 91 USD per 40ft container, Singapore 111 USD and 159 USD and Cambodia 65 USD and 95 USD, respectively. Nguyen Tuong Anh, general director of Hai Phong Port, said with such low services charges, it would … [Read more...] about Seaport fees should be increased: say insiders

Minister of Planning and Investment Nguyen Chi Dung said the ministry has formulated an action plan, focusing on four groups of tasks and solutions, including enhancing information dissemination on the trade pact and promoting investment promotion activities, reviewing policies and laws to improve the business environment and ensure the implementation of Viet Nam’s commitments under the trade pact. … [Read more...] about Ministry leaders discuss action plan to implement EVFTA

Singapore (VNA) – Singapore and Australia have signed a digital economy agreement that will open up economic opportunities for both countries during a virtual ceremony on August 6. The deal was inked by Singapore’s Trade and Industry Minister Chan Chun Sing and Australia's Minister for Trade, Tourism and Investment Simon Birmingham. The Singapore-Australia Digital Economy Agreement (Sadea) will facilitate digitalisation of trade processes and make it easier and more cost-effective for Singapore companies to engage in cross-border business activities with Australia. The agreement builds on Singapore and Australia's strong bilateral trade and investment flows to enhance economic opportunities in the digital realm, said a joint statement issued by Singapore’s Ministry of Trade and Industry, Ministry of Communications and Information, and Infocomm Media Development Authority. Singapore, along with Australia and Japan, is a co-convener of the Joint Statement Initiative … [Read more...] about Singapore signs digital economy pact with Australia

Governments are increasingly resorting to measures that regulate market transactions. Emerging market governments have responded to rising populism by erecting barriers to trade and investment. Emerging market investors face significant headwinds linked to government expropriation, which is undermining contract certainty and eroding investor confidence. Political interference in emerging markets is now taking increasingly indirect forms, such as tax pressure, export restrictions, more stringent regulatory requirements, contract reviews and a general increase in government involvement in specific sectors of the economy. Economic Risks … [Read more...] about COVID-19 Likely a Geopolitical Game Changer in Asia: Aon 2020 Risk Maps