As 2018 brings newer and bigger free trade agreements (FTAs), Vietnamese enterprises are faced with tough choices. They can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market. Tran Thanh Hai, Deputy Director of the Ministry of Industry and Trade’s (MoIT) Import-Export Department, told Vietnam News Agency (VNA) that from 2018 onward, 85 per cent of Vietnamese exports will be subject to significantly lowered tariff levels of zero to 5 per cent. As part of the Government’s policy to increase economic self-reliance and promote sustainable imports and exports, exports of Vietnamese goods to FTA markets grew strongly in 2017, contributing US$213.8 billion to the year’s turnover of $408 billion, per the MoIT’s data. Hai was optimistic that Vietnamese businesses will benefit more from bilateral and multilateral FTAs with partner countries such as Hong Kong, Japan and the Republic of Korea (RoK). … [Read more...] about VN’s FTAs: Boon or Bane?
Vn news
Social News 15/1
Small-scale coffee farmer gets helping handLò Thị Phong from Chiềng Chung Commune in Mai Sơn District in the mountain province of Sơn La, has cultivated coffee for more than 10 years on 5,000 square metres of land, but she still finds life difficult.A decade seems long enough to improve farmining practices by trial-and-error, however, according to the middle-aged Thái woman, “even now, we still cannot keep proper financial accounts”.During discussions hosted by CARE International last week, stakeholders in the mountain coffee industry touched on deeper obstacles facing the industry.CARE has worked in Việt Nam since 1989, concentrating on supporting rights and sustainable development among vulnerable groups, particularly remote ethnic communities, poor women and girls and people vulnerable to climate change.Nguyễn Vĩnh Đức, deputy director of the Sơn La branch of the Minh Tiến Coffee Export Joint Stock … [Read more...] about Social News 15/1
VN seeks to boost environmentally friendly brick production
HÀ NỘI — Province and city authorities have been told to stop investment in fired clay brick production and to prioritise investment in other environmentally friendly construction materials. The order was one of the highlights of a recent official paper issued by the Deputy Prime Minister Trịnh Đình Dũng. The paper followed a month of study and the consideration of feedback at a national conference on the development of construction materials held in mid-December. It is estimated that in 2020, Việt Nam could need as many as 42 billion bricks for construction works. In the next 10 years, the total output could reach 330 billion clay bricks, requiring up to 40 million tonnes of coal to process. The brick production will release into the atmosphere 148 tonnes of green house gases amongst other pollutants. The unfired counterpart, however, don’t have such a large environmental footprint, as they don’t require the use of natural clay … [Read more...] about VN seeks to boost environmentally friendly brick production
VN youth tap into blogging, vlogging trend
by An Phương Blogging has become a passion with Việt Nam’s youth and has brought them a wide variety of job opportunities. Surprisingly, the addiction is nothing new and, in fact, has been around for a decade with many popular online personas, including Michelle Phan, Zoe Sugg (Zoella), Ryan Higa (nigahiga) and Felix Kjellberg (PewDiePie), among others. It’s difficult to determine who was the top blog trendsetter as bloggers each have their own story to tell. Together, the pieces make the picture complete. While Michelle Phan and Zoe Sugg are widely known for their skincare and makeup skills, Felix Kjellberg has been a success in the gaming field. “Michelle Phan seems to be everyone’s childhood hero. I admire the passion and creativity that she puts into her videos. Her beauty journey is fascinating,” Ngọc Anh, a frequent YouTube user, told Việt Nam News. Blogging is special in that it emphasises personal experiences and … [Read more...] about VN youth tap into blogging, vlogging trend
VN app market needs to stay on its toes: experts
Viet Nam’s much vaunted digital access and advantages that arise from it could run out of steam unless it is renewed and made more substantial, experts say. Shoppers test out different mobile devices at a Viettel store on Ngoc Khanh Street, Ha Noi.The majority of Vietnamese mobile users are becoming more and more active in accessing digital content on the mobile platform, and the country is seen as a rising star in the Southeast Asian and Asia-Pacific mobile applications market.However, some tech experts are unsure that this trend can be maintained.Tran Khanh, legal representive and Director of Ha Noi-based tech company TOPS International Jsc., told Viet Nam News that Vietnamese people like new technology and conveniences, and therefore, both young and old generations are hooked on their smartphones.Late last month, the Facebook Official Gaming Agency in Viet Nam, Adsota, released its 2017 report on the country’s mobile advertising market and monetisation of … [Read more...] about VN app market needs to stay on its toes: experts
VN-Index gains may not last
The VN-Index made gains for the fourth straight day on strong capital inflow, but analysts warn of a possible profit-taking correction today.On the HCM Stock Exchange, the VN-Index rose 0.97 per cent to close Thursday at 1,048.17 points, lifting the four-day gain to 3.5 per cent.Meanwhile, the HNX-Index on the Ha Noi Stock Exchange ended up 0.75 per cent higher at 122.84 points after a slight decline on Wednesday.Market breadth was positive when rising shares outnumbered losers by 263-218. Other 244 closed flat.According to BIDV Securities Co (BSC), strong cash is flowing into small and medium stocks. This pushed up the VN-Index, despite profit-taking selling in large-cap groups.“Cash flow focusing on the VN30 was trending to spread outside the market," BSC’s analysts wrote in a daily market review. "Stocks supported by positive information are attracting attention.”.Large caps remained in uptrend but division was taking place when the number of stocks in the VN30 … [Read more...] about VN-Index gains may not last
Record export of VN fruits in 2017
Viet Nam’s fruit and vegetable exports reached a record $3.5 billion for year-on-year growth of 43.02 per cent.— VNA/VNS Photo Viet Nam’s fruit and vegetable exports reached a record $3.5 billion for year-on-year growth of 43.02 per cent, according to the Ministry of Agriculture and Rural Development. The top 10 markets were China (75.6 per cent), Japan (3.64 per cent), the United States (2.94 per cent), South Korea (2.59 per cent), the Netherlands (1.81 per cent), Malaysia (1.43 per cent), Taiwan (1.33 per cent), Thailand (1.03 per cent), the United Arab Emirates (1.01 per cent) and Russia (0.85 per cent). Other markets accounted for 7.77 per cent, according to news site vneconomy.vn. In addition to the traditional markets, Vietnamese fruits also managed to enter demanding markets like the United States, European Union, Japan, Canada, Australia and New Zealand. According to Nguyen Huu Dat, general secretary of the Viet Nam Vegetables and Fruits Association, export … [Read more...] about Record export of VN fruits in 2017
Writers hopeful for VN’s historical future
VietNamNet Bridge – Nguyen Khanh Duong, Comicola’s founder and script writer for the Phong Duong Comics duo, has been pioneering the Vietnamese historical comic movement with the ongoing hit series Holy Dragon Imperator (Long Than Tuong). His passion for the country’s cultural restoration reaches beyond his artistic trade, as Duong continues to advocate for widespread celebration of cultural and aesthetic values once lost to time and conflict.Speaking with Viet Nam News’ reporter Phuong Uyen last weekend, Duong expressed high hopes for the younger generation’s ardent interest in the matter. He considers such awareness to be a stepping stone towards defining a solid national image, going from historical preservation to modern innovation based on traditional elements. What motivates you to pursue this cause?Since the application of the Berne Convention in 2004, there is now a growing community of Vietnamese authors working on making distinctly Vietnamese … [Read more...] about Writers hopeful for VN’s historical future
VN needs cryptocurrency laws
Deputy Prime Minister Vuong Dinh Hue has asked the Ministry of Justice and the State Bank of Viet Nam to hasten and complete the legal framework for managing virtual currencies in Viet Nam. The report on the progress must be submitted to the Government for consideration before the end of January. Virtual currencies, especially bitcoin, have sparked a fever worldwide. According to cryptocurrency news website cointelegraph.com, the total market capitalisation of all cryptocurrencies reached a new all-time high on Wednesday to over US$700 billion. Still, countries were divided on how to manage cryptocurrencies. In Viet Nam, the bitcoin drew significant market attention despite experts’ warnings about its risks and the lack of a management framework. At a National Assembly hearing in November, Governor of the State Bank of Viet Nam Le Minh Hung said under current Vietnamese regulations, bitcoin was not a legal tender or a permitted means of payment. The central bank said the issuance … [Read more...] about VN needs cryptocurrency laws
VN Index among 10 high-growth stock indexes
VietNamNet Bridge - Analysts believe that the upward trend of the stock market will continue in the last months of the year, with the VN Index soaring to 820-850 points by the end of 2017.The VN Index on October 6 reached 807.8 points, a 10-year peak. This represents a 21.6 percent increase this year, the fastest growth rate in South East Asia and the 10th fastest in the world.By the end of 2006, the total capitalization value of the Vietnamese stock market had been reported at $14 billion, but the figure soared to $120 billion, up by 67 percent compared to the end of 2016, equal to 60 percent of GDP."Stable macroeconomic policies open up bright prospects for the economy. According to economic laws, the stock market is always ahead of economic growth, so the strong rise of the stock market is quite reasonable," said Duong Anh Vu, a financial expert.In the first nine months of the year, the investors bought more than sold by $625 million on the Hanoi and HCMC bourses. Meanwhile, net … [Read more...] about VN Index among 10 high-growth stock indexes