International media have run articles highlighting that the year 2017 marked Vietnam’s rapid economic growth.
The receiving of reflection on law compliance is a solution to develop Customs-business partnership, thereby enhancing responsibility and duty of both Customs and business in implementing Customs policies and laws.
In 2017, the Customs has deployed many solutions to develop the Customs- Business partnership, in which the solutions to assist law enforcement are deployed with many effective and diversified methods such as issuing leaflets, organizing dialogues, receiving and solving obstacles, training businesses and deploying public service.
A Ministry of Construction circular requiring state-funded construction projects to use eco-friendly building materials is expected to lure foreign investors into this sector, bringing with them equipment and products new to the market. Nguyen Dat reports.Tran Quoc Thai, a Ministry of Construction official, has just returned to Vietnam from a working trip in Europe, where he met with several French firms eyeing opportunities to establish new companies or sell eco-friendly building materials in Vietnam.
Firms from Vietnam and South Korea are benefiting from tariff slashes under the Korea-Vietnam Free Trade Agreement and other trade pacts by boosting their trade co-operation, with the two countries raising their bilateral trade turnover by 40 per cent by 2020.
Việt Nam posted a surprisingly high 21 per cent year-on-year growth in export value in 2017. Deputy Trade and Industry Minister Đỗ Thắng Hải talks to chinhphu.vn about how this happened, and what 2018 portends.
According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the US, Australia, South Korea and the EU.
Foreign traders not present in Việt Nam will have the right to export or import under Vietnamese law and international treaties that the country has signed.
The government will strive to reduce and simplify half its of current existing conditional business requirements in 2018 in an effort to improve Vietnam’s business climate to boost growth.
Import tariffs on around 400 items traded between Asean and China will be cut to 0-5%, starting from Jan 1, 2018, as part of the continuing stages of the Asean-China free trade agreement (FTA). The pact is expected to help double trade value between the two sides to US$1 trillion (32.7 trillion baht) by 2020.
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