A Vietcombank office. The bank's stock were among the large-caps that fell on Monday. — Photo vietcombank.com.vn HÀ NỘI — Vietnamese shares slipped on Monday as investors continued seeking profits from previous gains made by large-caps. The benchmark VN-Index on the Hồ CHí Minh Stock Exchange dropped 0.70 per cent to close at 1,002.91points. Việt Nam’s benchmark index closed down 1.2 per cent last week. More than 184.3 million shares were traded on the southern bourse, worth VNĐ4.2 trillion (US$181.5 million). Declining stocks outnumbered gainers by 197 to 132, indicating relatively strong selling pressure. The stock market was under large-scale selling pressure and the VN-Index was pushed back near 1,000 points. The benchmark VN-Index lost in four of all five trading days last week after having approached the 1,025-point level on November 6. According to analysts, the 1,025-point zone would be a very … [Read more...] about Local stocks keep falling on profit earning
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Growing economic interest in the South China Sea has led the European Union and its member states to pay more attention to the region, according to an Italian expert. Dr. Nicola Casarini, Senior Fellow and Head of Asia Research at the Institute of International Affairs attends the 11th South China Sea International Conference which opened in Hanoi on November 6 Nicola Casarini, Senior Fellow and Head of Asia Research at the Institute of International Affairs (IAI) in Rome told Dantri/DTiNews Newspaper on the sidelines of the 11th South China Sea International Conference which opened in Hanoi on November 6 that economic interest was one reason for the EU's rising interest in the South China Sea region. "China is the European Union’s second largest trading partner, and ASEAN is the third. But for ASEAN, the European Union is the second-largest trading partner after China. Because of the great economic interest, Europe and its member states are looking more and more to the … [Read more...] about Europe steps up security presence in South China Sea
Representatives of Hoan My Group receive the Viet Nam Hospital of the Year award in Singapore. — Photo courtesy of Hoan My Group Hoan My Medical Group has been named the Viet Nam Hospital of the Year at the 2019 Frost & Sullivan Asia-Pacific Best Practices Awards in Singapore. The group said the awards, which were organised last week, marked the fourth title in a row in terms of the country’s best hospital. Hanh Phuc International Hospital, a member of the Hoan My Group, also won the Hospital Management Asia Awards and an Excellence Award for Most Improved Local Hospital for 2019. The hospital’s CEO, Nguyen Thuc Anh, was awarded the gold award for ‘Hospital CEO of the Year’. Hoan My Group was listed in the ‘Top 100 Best Places to Work in Viet Nam’ in 2018 by Anphabe (a career community network) and Intage (a market research company) through a survey of 74,481 employees from 674 companies in 24 industries. The annual Frost & Sullivan … [Read more...] about Hoan My Medical Group receives Viet Nam Hospital of the Year award
The CBU (complete built unit) imports to Vietnam in the first seven months of the year were five times higher in number than in the same period last year. Minister and Chair of the Government Office Mai Tien Dung has said that the government will soon amend Decree 116/2017 on conditions to manufacture, assemble, import and trade cars and maintenance services. It is expected that provisions related to car imports will be removed. Instead of examining cars by consignments as currently regulated, the government would amend the legal document, so that imports would be examined by vehicle type, while pre-customs clearance examinations would be replaced by post examination. Car importers believe that once the decree is amended, it will be easier for CBU imports to enter Vietnam. According to a representative of Thaco, ‘examination by type’ means that state agencies will take samples to test emissions and safety, and the results of the tests will be applied to the next … [Read more...] about Will car imports ‘crush’ domestically assembled cars?
Asked about the import tariff on luxury cars from Europe after the EVFTA takes effect, the Ministry of Industry and Trade (MOIT) said the competitiveness of EU sourced cars would improve. According to MOIT’s Deputy Minister Tran Quoc Khanh, high-cylinder capacity cars (more than 2500 cc) will see tariffs gradually cut to zero percent after nine years. Meanwhile, the tariff cut for less than 2500 cc cars will be implemented over 10 years, and the roadmap for car parts will be seven years. At present, cars from the EU bear a high tax rate of 70 percent. The selling price is 2-3 times higher than the original price because the cars bear many kinds of taxes and fees. The trade agreement includes an important provision that, five years after the agreement takes effect, Vietnam will accept the EU quality certificate, which means that the EU’s cars won’t need quality certificates to enter Vietnam. This means that Vietnam will create more favorable conditions for … [Read more...] about Vietnamese told not to expect high-end cars to become cheaper