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Update news MoIT
With the free trade agreement (FTA) between Vietnam and EAEU (Eurasian Economic Union) having taken effect, many Vietnamese export items now enjoy a zero percent tariff. However, it will be not an easy task to boost exports.
VietNamNet Bridge - Coal imports have been increasing rapidly as coal on the world market is priced more cheaply than the domestic product.
VietNamNet Bridge - Formosa Ha Tinh and Vedan Vietnam have asked for permission to import coal instead of doing it through Vinacomin, the nation’s biggest coal miner.
VietNamNet Bridge - Four UAZ models will be available in Vietnam, including Patriot, pickup, offroad Hunter and another commercial vehicle model. However, most Vietnamese have shown little interest in the news.
VietNamNet Bridge - Vietnam spent $32 billion on imports from China in the first eight months of the year, including products which are plentiful in Vietnam.
VietNamNet Bridge - If Vietnam continues exploiting 50 million tons of coal each year, the coal would run out after 15 years, not 50 years, as planned by the Ministry of Industry and Trade (MOIT), experts say.
VietNamNet Bridge - Indian car manufacturers may find it hard to enter the Vietnamese market because of a new decree.
After 10 years of consideration, Vietnam still has not made a clear statement about whether it will join EITI (Extractive Industries Transparency Initiative). The Ministry of Industry and Trade (MOIT) has been blamed for the delay.
VietNamNet Bridge - Following Thai, Japanese and South Korean retailers flocking to Vietnam, Chinese investors are now jumping into the market.
VietNamNet Bridge - The domestic used-car market is busy with total value of $3 billion a year as estimated by Anycar Vietnam JSC.
VietNamNet Bridge - The decrease in orders from foreign partners has dealt a strong blow not only to small textile & garment companies but also to big players in the market.
VietNamNet Bridge - Foreign investor MAJ Invest has closed Lingo.vn, an e-commerce website, leaving 265 workers jobless. The owner has been criticized for disregarding the needs of Vietnamese workers.
Some analysts think the Vietnamese beer market will be flooded with foreign brands that will try to buy the shares of beer makers Habeco and Sabeco after the state divests from the companies as planned.
Sugar consumption in Vietnam has for decades far outpaced domestic production with the nation relying on imports to bridge the deficit between supply and demand, said the Vietnam Sugar Association as a recent business forum.
Nearly 70% of Vietnamese who joined a recent survey of carmaker Ford said fuel efficiency is more important than capacity when they decide to buy cars.
VietNamNet Bridge - The failure of some e-commerce platforms does not reflect the true state of e-commerce, according to the Ministry of Industry and Trade’s E-commerce and Information Agency.
The Vietnamese government has many times vowed to boost the equitisation of state-owned enterprises (SOEs), but the process has remained sluggish.
VietNamNet Bridge - Doosan Vina Heavy Industry has signed a contract on manufacturing nuclear power equipment for a South Korean nuclear power plant, the first ever contract of this kind.
VietNamNet Bridge - If new suggestions by state management agencies receive approval, the automobile market is expected to benefit bigger dealers.
Vietnam’s engagement in the Trans-Pacific Partnership (TPP) will better protect its workers by addressing issues relating to strikes, said an expert.