Vietnamese President Nguyen Xuan Phuc has urged the suburban districts of Cu Chi and Hoc Mon in Ho Chi Minh City (HCMC) to review all public investment projects, especially their feasibility, and improve the business climate to attract investment. Speaking at a conference to promote investment in Cu Chi and Hoc Mon on April 12, Phuc said the city should promote investment in the two suburban districts as part of the plan to develop the city further to the northwest, creating long-term livelihoods for residents and developing new sustainable urban areas. He said Hoc Mon and Cu Chi would provide…
Author: Asia News Network
Thai finance minister Arkhom Termpittayapaisith on April 11 said that his ministry will end three decades of waiver and start collecting financial transaction tax on sales of stocks. Arkhom said the timing was right for the ministry to end the tax waiver because the stock market has expanded a lot and growth has continued even during the Covid-19 crisis. He said the tax will be sales tax like in foreign stock markets and stock sellers will have to pay at the rate of 0.1 per cent on a monthly basis. He said stock brokers will have to report monthly sales…
The value of trade between Laos and Vietnam last year soared to $1.37 billion, up 33.32 per cent from 2020, with the value in the first two months of this year rising by 15.39 per cent to nearly $243.2 million, according to the Lao Ministry of Industry and Commerce. Laos’ main exports to Vietnam are wood, clothing, coffee, electricity, metals, sweetcorn and rubber. The main goods exported to Laos by Vietnam are motorcycles, rice and small iron pipes. Minister of Industry and Commerce Dr Khampheng Saysompheng announced the figures on April 11 at the 12th Vietnam-Laos Border Trade Development Cooperation…
Despite the devastating impact of the Covid-19 pandemic, Vietnam’s textile and garment industry has seen stable growth, recording an export turnover of $8.84 billion in the first quarter of 2022 with an increase of 22.5 per cent against the same period last year. In many industries, especially labour-intensive ones like the textile and garment industry, labour shortages during the Covid-19 pandemic have directly impacted apparel manufacturers’ production and business activities. Tran Tuong Anh, deputy director-general of Hoa Tho Textile and Garment JSC, said that early last month, 1,719 employees at her company were tested positive for Covid-19, accounting for 15…
The move toward sustainable aviation fuel (SAF) derived from cooking oil, household garbage and other materials is gaining momentum in the airline industry, which has been the target of criticism overseas because of the high carbon dioxide emissions associated with flying. Late last month, aircraft manufacturer Airbus SE flew an A380 jumbo jet for about three hours powered solely by SAF for a test flight in Toulouse in southwestern France, indicating the safety of SAF and signalling a wave of change in the aviation industry. The term “flight shaming” was popularised by environmental activist Greta Thunberg. In 2019, the Swedish…
Vietnam aims to raise its sovereign ratings by 2030, according to the Sovereign Rating Improvement Project recently approved by Deputy Prime Minister Le Minh Khai. Specifically, Vietnam wants to achieve a credit rating of Baa3 (for Moody’s) or BBB- (for S&P and Fitch) and above by 2030. The project aims to turn Vietnam into a developing country with modern industry and high middle income and improve the country’s position and prestige in the international arena. Under the project, the average growth rate of gross domestic product (GDP) for the whole period will be about seven per cent a year, with…
Bhutan is on track to graduate from the Least Developed Countries (LDC) group by June 2023, according to senior government officials. Officials from the Ministry of Finance said that despite the pandemic, the government decided that Bhutan will graduate by June 2023. As part of the preparation for graduation, countries are expected to implement a smooth transition strategy, to gauge the disruptions and ensure sustainable graduation. Bhutan’s smooth transition strategy will be integrated with the 13th Plan. Macroeconomic stability, product space diversification, and disaster resilience are some of the parameters recommended for inclusion in Bhutan’s transition strategy. The officials from…
The North Atlantic Treaty Organization seeks to enhance security cooperation with South Korea through “sustained” military exchanges, the chairman of its top military body said Monday, underscoring the significance of “substantive” defense cooperation. NATO Military Committee Chair Adm. Rob Bauer made a rare trip to South Korea and held respective talks with South Korea’s Joint Chiefs of Staff Chairman Gen. Won In-choul and Defense Minister Suh Wook. The visit by the NATO Military Committee chief to the country marks only the second time, following the first such trip by then-Chairman Petr Pavel in May 2016. Gen. Won and Adm. Bauer…
Health officials in Laos have announced a plan to eliminate six diseases in the country within the next 14 years, reports Laotian Times. The plan was announced at a recent high-level meeting for the health sector held in Vientiane Province chaired by Minister of Health, Dr Bounfeng Phoummalaysith, also according to Vientiane Times. While malaria is still present in Laos, the country was able to slash cases by 92 per cent between 2000 and 2010, with the last major outbreak occurring in 2014, when 50,000 cases were recorded. The country has seen better progress in recent years, with an all-time…
More South Korean conglomerates relying heavily on manufacturing and retail networks for growth are turning to the bio and health care industries to secure future growth engines and expand areas of business. Retail and confectionery giant Lotte Group officially announced that bio and health care businesses will be its new growth engine at the shareholders’ meeting last month. Lee Dong-woo, CEO of Lotte Holdings, said the firm plans to directly invest in the bio and healthcare businesses and foster them in the mid- to long-term. According to a report from the Korea Biotechnology Industry Organisation, Lotte Holdings will invest 70…