Companies will be able to apply for import licences online from November 1 this year, according to the Ministry of Industry and Trade (MIT)’s Foreign Trade Agency.

Vietnam posts US$7 billion trade surplus in 10 months

The increasing number of elderly and the shrinking young population of Japan may be the main reasons pushing UNIQLO to other markets, including Vietnam.

Six Asia-based investors of Huy Vietnam are filing a lawsuit against founder Huy Nhat for suddenly closing the Mon Hue restaurant chain.

The VND was expected to remain broadly stable against the USD over the remainder of 2019 and to be slightly weaker on average over 2020, buoyed by robust FDI inflows, dollar purchases by businesses, and a healthy foreign reserve position.

In the first half of this month, total import and export value of Vietnam reached nearly $21 billion.

Vietnam, Russia agree on measures to boost bilateral ties

Listed among leading Asian consumers of alcoholic drinks, Vietnam remains potential for foreign investors.

Experts have called for loosened legislation to facilitate foreign ownership of property in the country.

Vietnam’s public debt is projected to reach 54.3% of the country’s gross domestic product (GDP) by the end of 2020, before easing further to 53.3% in 2021 and 52.7% in 2022, according to the Ministry of Finance.

Asanzo only assembles products instead of manufacturing them, because the added value created after assembling accounts for just 1 – 2% of the total cost of a product, while accessories and components imported from abroad make up the rest.

Currently, Vietnamese aluminum exported to the US is subject to 15% import tariff, while similar Chinese products are applicable to a tax rate of up to 374%.

Vietnam has witnessed strong growth in the aviation industry over the past five years, with the number of air passengers increasing threefold and its airline fleet doubling. 

Agro-forestry-aquatic exports hit over US$33 billion in ten months

The EU has a strong financial services market and the EVFTA will have a significant impact on the Vietnamese economy and finance market.

Vietnam attracted US$29.11 billion in foreign direct investment (FDI) in the first ten months of 2019, up 4.3 per cent over the same period last year, the Ministry of Planning and Investment’s Foreign Investment Agency said on Monday.

Vietnam’s public debt will fall to 56.1% of GDP by the end of 2019 from 58.4% last year, according to the Government’s latest report.

The country’s feed-in tariff has supported a boom for Vietnam’s solar sector, but now the Ministry of Industry and Trade proposes a rate reduction in order avoid solar projects becoming a victim of their own success.

The Politburo recently issued a resolution paving the way for favourable conditions to attract and choose high-quality foreign direct investment into Vietnam. 

Elements are converging to make Vietnam a potential smart lighting market as light-emitting diodes (LED) are replacing traditional light appliances.