The Vietnamese Government has been closely following the reality and consulting the experiences from other countries on the implementation of the global minimum tax to soon make appropriate policies, towards creating opportunities for foreign enterprises to operate smoothly and make greater contributions to Vietnam without affecting the interests of investors.
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The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.
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A representative of the Investment and trade working group said that legislatures might consider amending the Land Law to allow companies in Vietnam to mortgage land use rights to foreign lenders. This is because companies in Vietnam have difficulty accessing competitive financing sources outside of Vietnam since they cannot mortgage factories and land use rights to foreign lenders. Additionally, businesses suggested that Vietnam diversify markets and improve the efficiency of post-harvest activities, including packaging.
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E-commerce in Vietnam has gained impressive growth in recent years. Therefore, besides promoting the export of goods in the traditional way, the trend of in-depth investment in e-commerce is widely being applied by Vietnamese exporters.
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Along with China's reopening, Vietnam is negotiating to diversify seafood exports to China. However, there are still barriers that exporters must overcome.
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Deputy Prime Minister Tran Hong Ha signed Decision 165/QD-TTg, approving the Project on restructuring the Industry and Trade sector for the period to 2030.
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Currently, the export price of wood pallets is decreasing, and the price of input materials has also decreased but is still at a high level. Bank interest rates are at a high level. Factories that have been or are in the process of being completed but have to use bank loans are currently under tremendous pressure.
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The implementation of the global minimum corporate tax will directly affect Vietnam’s efforts to attract foreign direct investment (FDI). With a minimum tax rate of 15% imposed on multinational companies, measures to attract foreign capital through tax incentives will no longer be effective.
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As the world's second largest coffee exporter, experts have said that the impact from Vietnam on the world market is not really commensurate with its current position. Therefore, what needs to be done to develop the coffee industry to its full potential, reprentative of its current position.
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Vietnamese agricultural products have been present in nearly 200 countries and territories, helping the export turnover of agricultural, forestry, and fishery products to reach more than US$53.22 billion in 2022. However, to quickly join the global supply chain, Vietnamese agricultural products must meet the requirements and regulations set forth by importing countries, including traceability.
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