Representatives kick off the 11th Vietnam Manufacturing Expo (VME2019) and the eighth Vietnam-Japan Supporting Industries Exhibition (SIE 2019) in Hà Nội. — VNS Photo Thu Giang HÀ NỘI — Two major events on manufacturing and support industries opened at the Hà Nội International Exhibition Centre on Wednesday, creating business opportunities and aiming to increase the use of local parts for the domestic machinery and support industries. The three-day events, the 11th Vietnam Manufacturing Expo (VME2019) and the eighth Vietnam-Japan Supporting Industries Exhibition (SIE 2019), attracted more than 200 top brands from 20 leading technology countries including Japan, China, South Korea, Thailand and the US. Speaking at the opening ceremony, Deputy Minister of Industry and Trade Đỗ Thắng Hải said that thanks to the active participation of the Government and localities, Việt Nam’s … [Read more...] about Manufacturing and support industry expos open in Hà Nội
Tourism smme development and support plan
Ho Chi Minh City adds major developments to urban plans
These proposals were recently approved by the government for incorporation in the city’s 2025 master plans. The municipal Department of Zoning and Architecture said on Wednesday it will advise the People’s Committee to identify a consultant for the purpose. Specifically, underground areas near metro stations will be developed into commercial centers. The first metro line is expected to be operational in 2021. The 20-kilometer (12-mile) route will run from Ben Thanh to Suoi Tien through Districts 1, 2, 9, Binh Thanh, and Thu Duc and neighboring Binh Duong Province. The plans also envisage developments alongside the HCMC-Long Thanh-Dau Giay Expressway in the east of the city (Districts 2, 9, Thu Duc), building new urban areas along the Hanoi Highway, and further developing high-tech zones, in particular the Software Park at the National University of Ho Chi Minh City. Technical infrastructure will be improved to bolster water … [Read more...] about Ho Chi Minh City adds major developments to urban plans
Hà Nội approves support plan for startups to 2025
Hà Nội has a support plan for startup activities until 2025. —Photo vietnamfinance.vn HÀ NỘI — A plan on supporting start-ups and creative activities until 2025 received approval from Hà Nội authorities early this week. The plan’s goals are to support the development of 500 creative and start-up projects, as well as product commercialisation of 150 creative and start-up businesses, for the next six years. Of the number, at least 20 per cent of the businesses will be able to call for investment from venture funds and conduct merger and acquisition activities with a total estimated value of VNĐ500 billion. The plan will give financial support to start-up and creative activities, including media, building of start-up culture, and training and development of human resources. It will also fund support for infrastructure and techniques to develop start-up … [Read more...] about Hà Nội approves support plan for startups to 2025
Binh Duong focuses on developing local support industry
(VEN) - The southern province of Binh Duong is implementing solutions to develop support industries in order to meet local production needs and reduce reliance on imports. Not meeting demand According to the Binh Duong Department of Industry and Trade, the province currently has 2,277 businesses involved in support industries, including 442 in the garment and textile sector, 172 in leather and footwear, 953 in wood processing and 710 engineering firms. Despite significantly improved capacity, local support industries have only met 40-45 percent of demand from the garment and textile, leather and footwear sectors; 10-20 percent of demand for nine-seat auto manufacturing and assembling; 15 percent for electronics and informatics; and five percent for specialized electronics and high-tech. Truong Thi Thuy Lien, deputy general director of the Lien Anh Company in Binh Duong Province’s Di An Commune, said raw leather offered by domestic tanning factories is low-quality cowhide … [Read more...] about Binh Duong focuses on developing local support industry
National Citizen Bank approves capital hike and restructuring plan in 2019
The bank's representative reports 2018's business results at the meeting. — Photo courtersy of the bank HÀ NỘI – The National Citizen Bank (NCB) has approved its main business tasks for 2019, including a capital hike and restructuring plan, in its annual shareholders’ meeting on Friday in Hà Nội. Việt Nam’s economy is forecast to maintain positive performance in 2019, despite the many difficulties for the banking system. To ensure its steady development, the bank will stick to the Government and central bank’s monetary and credit policies, contributing to the country’s socio-economic development and provide essential capital for enterprises. The NCB will accelerate the process of issuing shares and co-operating with investors to increase charter capital in accordance with the plan approved by the State Bank of Việt Nam, a representative of the bank said at the meeting. NCB’s charter … [Read more...] about National Citizen Bank approves capital hike and restructuring plan in 2019
A decade of friendship and support from South Africa
On the occasion of the 25th South African Freedom Day (April 27), the Honorary Consulate of the Republic of South Africa in Ho Chi Minh City, Do Thi Kim Lien celebrated the 10th anniversary of her taking the role of Honorary Consul and establishing the Honorary Consular Office of South Africa in Ho Chi Minh City. Madame Do Thi Kim Lien at the 10th anniversary of the Honorary Consulate of South Africa in Ho Chi Minh City 10 years working as honorary consul, Do Thi Kim Lien has made impressive achievements in promoting friendly relations between Vietnam and South Africa. Since 2009, the Honorary Consular Office of South Africa in Ho Chi Minh City has consulted and supported hundreds of thousands of Vietnamese applying for a visa to South Africa, as well as South African citizens living in Vietnam to complete procedures and adopt to life in Vietnam. In addition, the honorary consular office organised hundreds of workshops to promote economic, commercial, and tourism relations as … [Read more...] about A decade of friendship and support from South Africa
Preferential and supporting policies for scientific and technological enterprises
Question: What are preferential and supporting policies for scientific and technological enterprises? Answer: Decree 13 also supersedes Decrees No. 80/2007/ND-CP, 96/2010/ND-CP (amended and supplemented by Decrees No. 115/2005/ND-CP and 80/2007/ND-CP) and Article 20 of Decree No. 95/2014/ND-CP. Scientific and technological enterprises (“STE”) are exempt from corporate income tax (“CIT”) for four years and enjoy a CIT reduction by 50% for the following nine years. However, STEs will not be entitled to this incentive in the financial year when they cannot meet the condition on revenue from the products formed by scientific and technological outcomes, which must account for at least 30% of the aggregate revenue. Besides CIT, STEs are also entitled to the incentives on import and export duties regarding the operations of scientific research, technological development, and business and production activities. Furthermore, STEs are also entitled to a reduction of … [Read more...] about Preferential and supporting policies for scientific and technological enterprises
ADB supports Pakistan’s new development and reform agenda
Mr. Zhang met with Finance Minister Mr. Asad Umar, Planning and Development Minister Mr. Khusro Bakhtiar, Education Minister Mr. Shafqat Mehmood, Adviser to Prime Minister on Institutional Reforms Dr. Ishrat Hussain, as well as other government officials and development partners.In his meetings, Mr. Zhang congratulated the new administration on assuming office and noted the government’s “100-day agenda” that prioritizes revitalizing economic growth, transforming governance, and revolutionizing social services.“ADB and Pakistan have a more than 50-year history of strong partnership,” said Mr. Zhang. “We are committed to deepening our cooperation with the new government and supporting its development agenda to bring prosperity to the people of Pakistan.”ADB Vice-President Mr. Wencai Zhang (left) with Pakistan Finance Minister Mr. Asad Umar (right). Source: ADB)Under the current country partnership strategy (CPS), 2015–2019, and the country … [Read more...] about ADB supports Pakistan’s new development and reform agenda
Central city to boost tourism in China and Europe
Viet Nam News ĐÀ NẴNG — Đà Nẵng’s tourism department plans to open representative offices in China and Europe to promote investment, trade and tourism cooperation with East Asia and European markets in the coming years. Vice director of the department, Nguyễn Xuân Bình said it has been seeking liason representatives before completing procedures to launch the offices soon. Bình said the offices would help promote and introduce destinations in Đà Nẵng and central Việt Nam to foreign tourists. He said the city has drawn 4 million tourists, in which 1.6 million were foreigners, in the first half this year, marking a growth of 29.4 per cent. Bình said Chinese and South Korean tourists were among top foreign travellers to Đà Nẵng and central Việt Nam. Đà Nẵng has a representative office in Tokyo, Japan, to build links among Japanese and … [Read more...] about Central city to boost tourism in China and Europe
Consolidating National Council for sustainable development and competitiveness improvement
Deputy PM Vu Duc Dam Accordingly, the Council serves as an advisory body for the Government and the PM on issues related to sustainable development and competitiveness improvement. The Council is tasked with advising the Government and the PM in directing the development and implementation of strategies, policies, plans, programs, tasks and solutions, in order to effectively deploy the National Action Plan for the implementation of the 2030 Sustainable Development Agenda, improve the business and investment environment, increase the labor productivity and national competitiveness, and implement the Viet Nam 2035 report. At the same time, the Council will submit to the Government and the PM reports recommending measures aiming to promote sustainable development, and raise labor productivity and competitiveness; alongside the reports on results of implementing innovation and enhancing scientific and … [Read more...] about Consolidating National Council for sustainable development and competitiveness improvement