Leaders of the Ministry of Industry and Trade, the Ministry of Public Security as well as the State Bank of Vietnam have concurred that operations of foreign exchange (forex) platforms are illegitimate, while cryptocurrencies are not methods of payment compliant with law in the nation. The statements were made during a regular government press meeting on Tuesday. According to Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, foreign currency trading and derivative services can only be provided by licensed credit institutions and commercial banks. The central bank has not licensed any organization to run these services, Tu asserted. “The establishment of forex trading platforms is against the law and should be penalized accordingly,” he stated. In reality, these forex schemes are tempting new investors with promises of profit rates reaching as high as three digits. Due to the illegitimate nature of these platforms, investors will not be protected by law, Tu warned. … [Read more...] about Forex trading platforms against Vietnamese law: officials
Trade schools north carolina
Vietnam prepares workforce to accommodate influx of companies amid US-Sino trade war
The Hanoitimes - Vietnam rushes to prepare manpower in a goal of training 2 million people at vocational schools. The US plan to place tariffs on additional US$300 billion worth of Chinese goods has sparked the relocation of multinational companies from China to Vietnam, and such relocation plans raise the question of what Vietnam acts to accommodate influx of companies in the unpredicted trade conflicts between the world’s largest economies. Textile workers. Illustrative photo The Vietnamese government has a goal of training 2 million people in vocational schools to meet the growing demand for technical skills among multinational companies, according to CNBC. More than 90% of students trained in technical skills, such as welding or making electronics, can get hired, Professor Nguyen Quang Huy told CNBC, adding that it’s very easy to get a job, and a lot of companies need more people. The country’s middle class is growing to reach around 44 million … [Read more...] about Vietnam prepares workforce to accommodate influx of companies amid US-Sino trade war
Work on two North-South expressway sections to start in June
Work on two North-South expressway sections to start in June The Saigon Times The HCMC-Trung Luong Expressway, part of the Eastern North-South Expressway, is opened to traffic. Work on the National Highway 45-Nghi Son and Nghi Son-Dien Chau sections will begin in June – PHOTO: LE ANH HCMC – The investment procedures for the National Highway 45-Nghi Son and Nghi Son-Dien Chau sections of the North-South expressway projects are being completed so that work on these two sections will begin in June this year. On March 4, Nguyen Duy Lam, head of the Transport Engineering Construction and Quality Management Bureau under the Ministry of Transport, said after the Government issued resolutions to transfer the two subprojects from the public-private-partnership model to the public investment model, the bureau started appraising the adjusted investment in the subprojects and choosing contractors and technical designers. The feasibility studies, technical designs and adjusted … [Read more...] about Work on two North-South expressway sections to start in June
Trade surplus from agro-forestry-fisheries hit 1.37 billion USD in two months
Illustrative image (Source: VNA) Hanoi (VNA) – Import-export value of agro-forestry-fisheries products hit nearly 11 billion USD in the first two months of 2021, resulting in 1.37 billion USD in trade surplus, up 28.4 percent year on year, according to the Ministry of Agriculture and Rural Development (MARD). The ministry reported that a year-on-year rise was recorded in the export value of many products such as rubber , tea , cashew, vegetables and fruit and forestry products. In the first two months of this year, the US remained the largest market of Vietnamese agro-forestry-fisheries products with 2.04 billion USD, up 57.3 percent year on year and accounting for 33.05 percent of the market share. It was followed by China, ASEAN, the EU, Japan and the Republic of Korea. The export value of aquatic products reached 405 million USD in February, pushing the figure in the first two months of 2021 to over 1 billion USD, up 2.2 percent over the same period last year, … [Read more...] about Trade surplus from agro-forestry-fisheries hit 1.37 billion USD in two months
Many solutions to prevent network congestion on HoSE
Meanwhile, on the Hanoi Stock Exchange (HNX), the HNX-Index made a breakthrough of nearly 3 percent. At the end of the trading session, the VN-Index inched up by 0.34 points, or 0.03 percent, to close at 1,186.95 points, with 270 gainers, 168 losers, and 64 unchanged stocks. The HNX-Index jumped 6.16 points, or 2.48 percent, to 254.1 points, with 137 gainers, 66 losers, and 57 unchanged stocks. Foreign investors continued to net sell nearly VND500 billion on the whole market. Of which, they net sold VND470 billion on the HoSE. Liquidity remained at a high level with a total trading volume of 819 million shares, worth more than VND18.1 trillion. Of which, put-through transactions accounted for nearly VND1.77 trillion. The stock market traded with caution from investors after the new General Director of the HoSE Le Hai Tra spoke in the media about a solution to prevent network congestion, which possibly is to raise the minimum round lot from 100 shares to 1,000 shares to reduce the … [Read more...] about Many solutions to prevent network congestion on HoSE