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Ministry rejects import-export tax changes

At an earlier working session between the two ministries, the Ministry of Industry and Trade (MoIT) requested the Ministry of Finance (MoF) to hike import tariffs on NPK fertiliser from the current 6 per cent to 6.5 per cent; delay imposition of a 3-per-cent export tax on steel ingots and finished steel; and slash the export tax on coal from 20 per cent to 10 per cent.

Greenbiz exhibition and conference opens in Ho Chi Minh City

The event was organised by the Ho Chi Minh City Investment and Trade Promotion Centre, the European Chamber of Commerce in Vietnam (EuroCham) and the Vietnam Chamber of Commerce and Industry (VCCI).

Economic crisis hits leather, shoe exports

The industry currently faces many challenges, ranging from macroeconomic policies and trade barriers to the world market, in hitting its export targets while continuing to develop. Nguyen Thi Tong, general secretary of the Viet Nam Leather and Footwear Association, spoke about these issues.

Digital printing industry set to grow in Vietnam

Nguyen Van Dzong, chairman of the Vietnam Printing Association, told the two-day Asia-Pacific Premier Partner Annual Conference organised by Fuji Xerox that offset printing still accounted for 65 per cent of all printing done in the country while digital printing accounted for much less than 5 per cent. Though the latter had not developed as much in Vietnam as in other countries, it would develop strongly in future, especially when orders became larger and required strict control over quality and design and rapid changes.

Steel industry targets energy saving opportunities

The application of waste gas in drying scrap steel as well as the use of compressed natural gas (CNG) to replace fuel oil in steel billet blast furnaces with a capacity of 80 tonne/hour has helped the Southern Steel Company (SSC) reduce energy consumption by 30kWh/tonne of product and fuel costs by VND110,000/tonne.

Ministry urges EVN not to raise rates more than once per quarter

Minister of Finance Vuong Dinh Hue has sent a document to Minister of Industry and Trade Vu Huy Hoang responding to Hoang’s proposals on taxes, fees and prices for a number of commodities, including electricity.

14 European countries invest in Hanoi

According to the Hanoi People’s Committee, the city is calling on businesses to invest in high-quality services, financial centres, banking, trade, the electronic industry and information technology.

Int’l Food and Hotel Vietnam 2011 exhibition

The three-day event will draw the participation of 1,800 domestic and foreign businesses. Through the exhibition, enterprises operating in the hotel and food industry in Vietnam will have the opportunity to learn about new technologies, products and advanced services from around the globe.

Cement industry loses loan guarantees

The Government had guaranteed foreign loans worth US$1.36 billion for 16 State-owned cement companies out of whom Dong Banh, Thai Nguyen, Tam Diep and Hoang Mai companies were facing financial problems and could not repay, said the Minister of Finance, Vuong Dinh Hue, during a press meeting in Ha Noi on Thursday.

ADB: $190 mln loans to form science, technology univ. in Hanoi

Along with funding physical facilities to accommodate an initial 5,000 students, the project will develop modern governance and management systems and capacity-build senior staff, according to ADB. The project will also establish centers to promote high quality, relevant academic programs, research, and links to industry groups in the private sector, ADB added.

Industrial output tops $13bln in four months

Private-sector industry achieved a growth rate of 16.8% during the period, with an industrial value of VND101.1 trillion ($4.9 billion), while the foreign-invested sector grew by 16.7% for a value of VND114.43 trillion ($5.5 billion). The state-run sector, meanwhile, saw a growth of just 5.1%, fetching a turnover of VND54.95 trillion ($2.65 billion).

Foreign firms air concerns

Speaking at a 200-strong seminar held in HCM City yesterday, Christopher C Twomey, chairman of the American Chamber of Commerce and Industry said that in 2010 exporters had their products held-up by customs procedures for almost three days, importers for almost four.

Vietnam freight transport q1 2011 – road building and road usage are both expanding strongly

Business Monitor International’s Vietnam Freight Transport Report provides industry professionals and strategists, corporate analysts, freight transportation associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam’s freight transportation industry.

Japanese textile businesses select Vietnam

The Ministry of Industry and Trade reported that Vietnam’s garment and textile exports to Japan fetched $1.2 billion, making up 11 per cent of the nation’s total in 2010. At present, Japan is Vietnam’s third largest garment and textile importer, after the US and the European Union (EU).

Vietnam’s trade gap rises amid weak auxiliary industry

Vietnam’s trade deficit eased slightly in the first three months of 2011, official estimates showed last month, in a boost for the government as it battles to stabilise its economy, according to AFP.


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