Proposing moves for supporting future businesses, illustration photo Thai Huong - General director BAC A BANK We propose that the Party, the National Assembly, and the government consider the target of establishing agriculture-forestry-fishery value chains with high quality, and meeting requirements of key export markets as the prime goals towards 2035 in order to create a breakthrough for the agricultural sector. We also propose that the government ask the Ministry of Agriculture and Rural Development (MARD) to work with ministries, localities, and experts so as to successfully create a number of agricultural-aquatic value chains with high quality, such as the fresh milk product chain exported to China, the shrimp product chain exported to the US, Canada, and the EU, and the vegetable-fruit intensive-processing chain exported to China and Japan. We also propose that the government direct the MARD and localities to combine with leading firms to reconsider key export markets for each … [Read more...] about Proposing moves for supporting future businesses
Supporting local businesses
Vietrade, Amazon Global Selling support local businesses
Vietrade and Amazon Global Selling cooperate to support for local businesses in boosting export via e-commerce. Photo congthuong.vn HÀ NỘI — The Ministry of Industry and Trade’s Việt Nam Trade Promotion Agency (Vietrade) and Amazon Global Selling announced a plan on Thursday to help Vietnamese businesses boost exports and develop brands through e-commerce. Speaking at the ceremony, Vietrade director Vũ Bá Phú said the two sides had decided to set up a long-term partnership with an array of activities. They will work on programmes on global exports and brand name development via e-commerce as well as e-commerce training for local enterprises. Under the global export programme, Vietnamese products will be marketed on the Amazon e-commerce sales platform. Vietrade and Amazon Global Selling also announced the first 100 small- and medium-sized enterprises selected to receive … [Read more...] about Vietrade, Amazon Global Selling support local businesses
Support industry business gets new boost
(VEN) - Major corporations have been implementing support industry projects, providing opportunities for small- and medium-sized enterprises to participate in regional and global supply chains. Large investments The Truong Hai Auto Corporation is expected to pour several billion US dollars into new projects in Quang Nam Province, including the Chu Lai-Truong Hai Automobile Mechanical Industrial Zone. Truong Hai Auto Corporation Chairman of the Board of Directors Tran Ba Duong said the project would include small enterprises at home and abroad producing components and spare parts for automobiles and agricultural machines, as well as other export products. In addition to attracting domestic and foreign enterprises to develop component supply chains, the corporation has also built large-scale component manufacturing factories and exchanged products with regional producers. “The corporation makes main components, while auxiliary details are intended for small suppliers. In … [Read more...] about Support industry business gets new boost
Hanoi vows to develop utility services for local businesses
Hanoi will continue to reform administrative procedures while developing utility services to support its businesses, in order to improve the business environment and enhance competitiveness in the capital city. Representatives from Hanoi Department of Planning and Investment and VNPT-Hanoi Business Centre reach a cooperation agreement to offer local businesses favourable utility services, Hanoi, July 4 The statement was made by officials from Hanoi Department of Planning and Investment at the conference on development of utility services to support business registration on July 4. Nguyen Van Duc, Deputy Head of Hanoi Department of Planning and Investment, said that in the past six months, the department has launched a range of utility services for new business registrations on its portal. Among them, the most noticeable service is the pre-register of bank account numbers via the portal, which is linked to commercial banks. Enterprise owners can register their bank account … [Read more...] about Hanoi vows to develop utility services for local businesses
Citi Foundation supports local innovation and startups
Vietnam has seen huge growth in startups in recent years, with 3,000 registered startups in 2017. Vietnam has seen huge growth in startups in recent years, with 3,000 registered startups in 2017. Despite this growth, the local startup ecosystem is lagging behind other leaders in the region, in terms of a coordinated national approach, such as in Thailand, Singapore and Malaysia. If only we could tap into the ambition, creativity and commitment of this new generation of young Vietnamese entrepreneurs to help find solutions to the biggest challenges the country faces? This is the challenge the UN Development Programme (UNDP), Citi Foundation and the Ministry of Science and Technology (MoST) have taken up as co-leads to deliver Youth Co:Lab Vietnam 2018. Following the launch in Hanoi on June 15, the Youth Co:Lab Diagnostic workshop was reorganised in Ho Chi Minh City, at Saigon Innovation Hub on June 22, to bring all major players in the impact startup ecosystem together and … [Read more...] about Citi Foundation supports local innovation and startups
Local business environment lacks robust reforms
The local business environment has not witnessed strong reforms although the Government has made efforts to improve the same over the past years, according to experts. Representing the business community, Dau Anh Tuan, head of Legal Affairs under the Viet Nam Chamber of Commerce and Industry, said the Prime Minister had expressed his willingness to improve the investment environment but not many ministries reciprocated. Therefore, not many reforms were introduced in the administration. Tuan said the Government’s policies over the past years had reduced costs, creating favourable conditions for businesses to operate. However, recent proposals on law and policies have had the trend to increase tax rates, including value-added tax, special consumption tax, natural resource tax, personal income tax and corporate income tax. Some localities also charge a fee for infrastructure and seaports. These are creating problems for the business community, he added. Assessing the business and … [Read more...] about Local business environment lacks robust reforms
Vietnam’s ex-Uber drivers shun Grab in favor of local competitors
Former Uber drivers in Vietnam are migrating towards domestic competitors instead of joining ride-hailing firm Grab, which acquired Uber’s Southeast Asian operations last month. Many have opted for firms that offer similar services to Grab, such as Mai Linh and Vato, saying they want to support local businesses where they hope to receive better treatment. Ho Huy, president of Mai Linh, said Uber drivers have been signing up to work for his company since last month, with more coming every day. “At first, there were only a couple of drivers who came to sign up with us. Now we get hundreds of them on our best days,” he told VnExpress. Tran Thanh Nam, CEO of ride-hailing app Vato, said about 5,000 drivers had signed up to work for his firm in just two weeks, ever since word got out at the end of last month that Grab was acquiring Uber, media reports said. Vo Van Phu, a former Uber driver in Ho Chi Minh City, said he felt “sad” about Uber leaving Vietnam as he … [Read more...] about Vietnam’s ex-Uber drivers shun Grab in favor of local competitors
Hanoi meeting links Vietnam-China localities, businesses
The event was part of the sixth Greater Mekong Sub-region (GMS) Summit and the 10th Cambodia-Laos-Vietnam (CLV) Summit on Development Triangle Area. Deputy Foreign Minister Le Hoai Trung speaking at the meeting between Vietnamese and Chinese localities and businesses in Hanoi on March 31 The event was attended by Chairman of the Hanoi People’s Committee Nguyen Duc Chung, Deputy Foreign Minister Le Hoai Trung, Trade Counselor of the Chinese Embassy in Vietnam Hu Suojin, officials of four Chinese provinces (Yunnan, Guangxi, Guangdong and Hainan) and 16 Vietnamese provinces and cities, along with hundreds of the two countries’ businesses. Opening the event, Deputy Foreign Minister Le Hoai Trung highly valued the Chinese provincial leaders’ participation in the meeting. With big economic strength, the four provinces are also the Chinese localities taking the lead in economic, trade, investment and tourism cooperation with Vietnam. In 2017, trade between … [Read more...] about Hanoi meeting links Vietnam-China localities, businesses
Vietnam, ASEAN, Australia to boost support for local businesses, startups
The Association of Southeast Asian Nations (ASEAN), including Vietnam, and Australia have agreed to provide more favorable conditions for small and startup businesses in a bid to boost local economies. Vietnamese Prime Minister Nguyen Xuan Phuc attended the ASEAN-Australia Special Summit in Sydney on Sunday, within the framework of his official visit to Australia from March 14 to 18. PM Phuc was one of the four ASEAN leaders invited to deliver a keynote speech at the retreat. ASEAN is a social, economic and political organization whose members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Speaking at the event, the Vietnamese premier urged ASEAN and Australia to make efforts to build open, transparent, inclusive order in the region, and ensure that regional countries observe international law and respect each other’s interests. Focus should be directed on innovation, connectivity promotion, support for … [Read more...] about Vietnam, ASEAN, Australia to boost support for local businesses, startups
MoIT to support steel businesses
The Ministry of Industry (MoIT) will continue to support local steel enterprises this year in their production and business, especially use of trade defence measures protecting the domestic steel industry.— VNA/VNS Photo The Ministry of Industry (MoIT) will continue to support local steel enterprises this year in their production and business, especially use of trade defence measures protecting the domestic steel industry. The domestic steel industry in 2017 saw growth in production and business, with many factories going into production to meet domestic demand and export, the ministry said. To support the steel industry this year, the ministry will continue to apply trade remedies in accordance with WTO rules and free trade agreements between Viet Nam and its partners to protect the industry from the competitive pressure of imported steel products. The ministry will also direct enterprises to monitor closely the market at home and abroad for ensuring suitable business plans. … [Read more...] about MoIT to support steel businesses