HCM CITY — Ensuring that rules of origin (ROO) are kept “simple and more business-friendly” will enhance trade among APEC economies, experts said at a workshop held in HCM City on Tuesday. Rules of Origin are laws and regulations used in international trade to define where a product was made. They are important when implementing trade policy tools such as anti-dumping and countervailing duties, and in Regional Trade Agreements (RTAs) and Free Trade Agreements (FTAs). Despite challenges, Aquia said that ROO offered opportunities to advance trade facilitation, including innovative product-specific rules that reflect modern value chains. In 2009, APEC senior officials identified ROO as a priority and tasked the Committee of Trade and Investment and its various sub-fora to look into making ROO more business-friendly.
August 22, 2017 14:03 UTC
HCM CITY — HCM City earned more than VNĐ14.6 billion (US$663,000) from advertisements on buses last year, according to the city’s Public Transport Management and Operation Centre. The centre and Koa Sha Media Vietnam, a Japan-based out-of-home (OOH) ad agency, placed the ads on 171 buses running on 10 routes following an auction held by local authorities. Established in 2012, Koa Sha Media Vietnam focuses on public transport ads. It is a subsidiary of Koa Sha Inc, a provider of OOH advertising media in Japan since 1938. The ads are expected to appear later this year, with ads encouraging the use of buses placed alongside commercial ads.
August 22, 2017 11:26 UTC
HÀ NỘI — The US Department of Commerce (DOC) on Monday announced the postponement of preliminary determinations of antidumping duty investigations on tool chests and cabinets imported from Việt Nam and China from October 1, 2016 through March 31, 2017. The DOC may postpone a preliminary determination no later than 190 days after the an investigation begins. The DOC decided to postpone the preliminary determinations to November 7, 2017, with the deadline for the final determination of the investigations 75 days after the preliminary determinations. At the beginning of May this year, the DOC initiated the investigations on some tool chests and cabinets from China and Việt Nam. Waterloo Industries Inc alleged a dumping margin of 159.99 per cent for China and a dumping margin of 21.85 per cent for Việt Nam.
August 22, 2017 11:26 UTC
HÀ NỘI — Indirect investment from Japan into Việt Nam remain relatively modest compared to the potential of Japan and the ability to absorb investment capital sources of Vietnamese market, finance minister Đinh Tiến Dũng said. Dũng made the statement on Monday at a conference in Tokyo co-hosted by the Việt Nam’s Ministry of Finance and Daiwa Corporation of Japan to promote financial investment in Việt Nam. There remains a huge room for bilateral cooperation in the financial market, Dũng said, adding that Việt Nam’s economy has recorded an annual average growth rate of 6 per cent over the past three decades. Dũng expressed hope that financial corporations in Japan will invest indirectly in Việt Nam, become strategic investors, and bring capital and technologies into the country. Later in the day, Dũng met Japanese finance vice-minister Imaeda Soichiro and lauded Japan’s role in helping develop infrastructure in Việt Nam through official development assistance (ODA) capital.
August 22, 2017 10:41 UTC
J&J ordered to pay $417 million in trial over talc cancer risksA California jury on Monday ordered Johnson & Johnson to pay $417 million to a woman who claimed she developed ovarian cancer after using the company's talc-based products like Johnson's Baby Powder for feminine hygiene. FILE PHOTO: Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York October 15, 2015. J&J's lawyers countered that studies and federal agencies have not found that talc products are carcinogenic. The trial follows five prior ones in Missouri state court, where many lawsuits are pending. The case is Echeverria et al v. Johnson & Johnson, Los Angeles Superior Court, No.
August 22, 2017 10:18 UTC
HCM CITY — Five hundred Vietnamese and foreign manufacturers, distributors, and suppliers will showcase advanced textile and garment machinery at the 17th Việt Nam International Textile and Garments Industry Exhibition (VTG 2017) to be held in HCM City in November. The machinery will include high-speed digital textile and garment printers, embroidering machine, equipment for cutting and others. High-quality fibre and cloth will also be on display at the 700 booths to be set up by companies from 20 countries and territories including India and Korea. The annual event offers global companies an opportunity to explore co-operation opportunities and keep abreast of developments in the sector. To be held from November 22 to 25 at the Sài Gòn Exhibition and Convention Centre in District 7, it will be organised by the Việt Nam National Trade Fair & Advertising Company in co-operation with Yorkers Exhibition Service Co.Ltd.
August 22, 2017 10:07 UTC
During the reviewed period, export turnover saw a year-on-year rise of 19 per cent to $124 billion, while import value hit $126.4 billion, up 23 per cent year on year. However, in the first half of August alone, the country registered outbound sales of $8.63 billion, an 8.4 per cent drop over a half month earlier. This has raised the sector’s trade value from January to mid-August up to $163.1 billion, marking a year-on-year rise of 23 per cent, or accounting for 65.2 per cent of the country’s total turnover. The country’s trade deficit has been estimated at $5 billion, or 2.5 per cent of the export turnover, lower than the National Assembly’s goal. Various measures will be taken to help domestic enterprises meet the quality standards of importers and to increase the value of export products, especially agro-forestry-fishery goods.
August 22, 2017 09:22 UTC
Shipping firms engulfed in difficulties, report lossesVietNamNet Bridge - More shipping firms have reported losses for 2016 and the first months of 2017 as the freight rate and the demand for goods transport have dropped to a 10-year low. More shipping firms have reported losses for 2016 and the first months of 2017 as the freight rate and the demand for goods transport have dropped to a 10-year low. Many other shipping firms have also been given warnings, including VSP and SSG of Viet Hai and Hai Au. The shares of shipping firms attracted investors 10 years ago. However, since 2008 shipping firms have had to struggle to survive.
August 22, 2017 09:11 UTC
HÀ NỘI — The Ministry of Transport will increase service charges at airports to compensate for investment costs of the airport system and raise service quality. It will fluctuate based on rush hours, normal hours and off-peak hours. The Ministry of Transport will increase service charges at airports from October 1, 2017. “The adjustment of airport service charges will affect the firm’s airfares, but not much. Chairman of the Airports Corporation of Vietnam Lại Xuân Thanh said the State had raised airport service charges, but the ceiling ticket price would not be increased.
August 22, 2017 09:00 UTC
Biggest-ever book collection on Vietnamese history launchedVietNamNet Bridge – The biggest and most comprehensive-ever book collection on the history of Viet Nam has just hit bookcases throughout the country. -- Photo daibieunhandan.vnTitled Lich Su Viet Nam, the 15-episode collection was printed for the first time by the Viet Nam Academy of Social Sciences in 2015 with a limited number of 500 copies. “The collection will be sent to public libraries all over the country this time.”According to Dinh Quang Hai, rector of Viet Nam History Institute, the collection covering Vietnamese history from early times to the year 2000 was a ministry-level research project hosted by the institute. After we gained the reunification in 1975, the Pol Pot-allied Khieu Samphan and Ieng Sary attacked Viet Nam,” he said. “Before, scholars had just discussed the history of Au Lac Kingdom as the history of the whole Viet Nam,” he said.
August 22, 2017 07:07 UTC
Museums to use 3D technologyVietNamNet Bridge – Museums in HCM City will use 3D technology as part of a project launched by the Youth Union’s Youth Centre of Science and Technology Development. Wonders of technology: Museums in HCM City will use 3D technology for the Online Museum project to introduce Viet Nam’s history and culture to the world. VNS PhotoYoung artists and software designers at the centre have completed an Online Museum that produces 3D images featuring objects, paintings, photos and documents stored by museums. The Online Museum not only helps people around the world learn more about Viet Nam but also assists local museums in recording information about their holdings. “Online Museum will help us organise online showcases and exhibitions with different themes to provide visitors more choices,” she added.
August 22, 2017 06:00 UTC
Foreign workers can apply work permits online from OctoberVietNamNet Bridge – Foreign workers in Vietnam can apply for work permits online from October 2, according to a circular recently issued by the Ministry of Labour, Invalids and Social Affairs (MoLISA). Foreign workers in Vietnam can apply for work permits online from October 2. (Photo: VNA)The ministry issued Circular No.23/2017/TT-BLDTBXH on granting work permits to foreign workers via the Internet on August 15. Accordingly, an application for work permit of a foreign worker in Vietnam must be lodged at least 20 days before the day the worker started working. Employers of the foreign worker must provide all required information of the worker to the competent authority and explain why the worker is needed.
August 22, 2017 05:37 UTC
Dang Van Thanh thrives as former rival Tram Be is sent to prisonVietNamNet Bridge - Dang Van Thanh lost in the battle for control over Sacombank five years ago, but he has returned to business and is prospering. However, the former winner in the bank battle – Tram Be – has been sentenced to prison. While his wife focused on doing business and running sugar refineries, Thanh grew tea, raised cows and taught students. While his wife focused on doing business and running sugar refineries, Thanh grew tea, raised cows and taught students. He has also made heavy investments in Thanh Thanh Cong’s (TTC) sugar production.
August 22, 2017 05:03 UTC
Exports to UK see slight riseVietnam exports to the UK hit US$2.8 billion in the first seven months of this year, up 1.61% against the same period last year, according to the General Department of Vietnam Customs. Telephones and components were key products, accounting for 35.2% of the total export revenue, however, its growth in the period fell 7.09%. Garment came second with US$405.1 million (up 0.56%) and footwear ranked third with US$394.4 million, up 7.04%.Particularly, steel exports to the European market enjoyed a sharp increase of 1421.6% although its value just reached US$26.2 million.Around 64.2% of export products to the UK obtained a growth, especially machines, equipment and tools (up 106.22%), base metal (up 66.95%) and rubber products (up 49.22%).Seafood was also a key export product to the UK with a value of US$136.2 million, up 30.13%.According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the UK is the biggest importer of Vietnam shrimp among EU countries, making up 4.8% of the country’s total shrimp export value. Its demand for shrimp remains high despite political instability.VASEP forecasts that shrimp exports to the market will continue to go up this year.VOV
August 22, 2017 04:41 UTC
SUBIRATS — Spanish police shot dead on Monday Barcelona terror suspect Younes Abouyaaqoub, in a dramatic end to a massive manhunt for the Moroccan national who was wearing a fake suicide belt when he was killed. "We confirm the death of Younes Abouyaaqoub shot in Subirats," police in Catalonia tweeted. Among those killed in the explosion was a Moroccan imam at the heart of the cell, Abdelbaki Es Satty, Catalan police chief Josep Lluis Trapero confirmed on Monday. That’s when (police) used their weapons and shot dead the suspect," said the police chief, who added that Abouyaaqoub shouted"Allahu Akbar" (God is Greatest) and was armed with knives. Police shot dead the five attackers, some of whom were wearing fake explosive belts and carrying knives.
August 22, 2017 04:30 UTC