As we enter another month of 2024, it’s a fitting time to review Vietnam’s key economic developments in the past month. Thus, in our ongoing commitment to help everyone stay informed about Vietnam’s economy, we are pleased to present to you the newest edition of our “Economic News Recap” series.

In this release, we summarized some of the most important news and stories in July, including:

1. Grant Thornton’s latest IBR survey reveals the rise in business sentiment among mid-market firms in Vietnam;
2. Strong and stable results in Vietnam’s international trade landscape and FDI attraction;
3. The role of the EVFTA in enhancing Vietnam’s trade and investment ties with the EU;
4. Latest GDP Growth forecasts of world organizations for Vietnam’s economy in 2024;
5. Update on the status of Vietnam’s industrial real estate market after the first half of 2024;

[BeluxCham News] On Thursday, August 24th, BeLuxCham had the honor to receive the delegation of the Belgian Senate in Ho Chi Minh City to celebrate our 20-year anniversary as well as the 50-year celebration of the diplomatic relationship between Belgium and Vietnam. We welcomed the delegation of Mrs. Stephanie D’Hose, president of the Belgian Senate, Mr. Bert Anciaux, senator of the Belgian Senate, and deputies of the House of Representatives in Belgo, in the attendance of our ambassador of Belgium to Vietnam, H.E. Mr. Karl Van den Bossche.
Throughout the evening, our members introduced the delegation into our lives here in Vietnam, accompanied by a nice beer and food!

Thank you to our embassy for all the support in making this happen!
Thanks to our BeLuxCham members for providing insights into doing business and living in Vietnam.
Thanks to our partners for your endless support!

It was an amazing evening!

Please see more photo here: https://drive.google.com/drive/folders/1WoK3VVZPaKBaexZGnP5wKH0Am0YXTKa4?usp=sharing

On 21 October 2022, BeluxCham and DEEP C Industrial Zones – Khu công nghiệp DEEP C successfully organized the seminar with the topic “𝐓𝐡𝐞 𝐟𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥𝐬 𝐨𝐟 𝐄𝐒𝐆 – Identifying sustainability priorities and targets for your business in Vietnam” with more than 20 participants in Haiphong. Our speakers in the seminar were:

1. Mr. Aru David, Regional Director, Asia Society for Social Improvement and Sustainable Transformation (ASSIST)

2. Ms. Van Ly, Partner at Raise Partners

3. Ms. Kim Le, Co-founder/CEO of CL2B

4. Mr. Long Viet Nguyen – EY Vietnam Consulting Partner

5. Ms. Ngoc Tran – Deloitte Vietnam Audit- CEO cum Sustainability & Climate Services Leader

6. Mr. Johan Lijftogt – Managing Director Witteveen+Bos office Vietnam

Our speakers shared their valuable insights on about implementation approaches for ESG by businesses in Vietnam, the importance of the social impact side of ESG (getting HR and community engagement strategies right), and how to achieve ESG goals by adapting and investing in the circular economy.

BeluxCham would like to express our sincere thanks to our speakers & participants for your kind time & great efforts.

We also would like to thank DEEP C Industrial Zones – Khu công nghiệp DEEP C for sponsoring the venue for the event.

On Friday 02 September 2022, at the Brussels airport, our Chairman, Bart Verheyen and Country Representative for BE and LUX, Ms. Bernadette van Lidth, introduced to the Brussels Airport business community the advantages of the Asia Collective. This Collective is a cooperation between 15 Belgian Chambers in Asia. Thank you Mr. Eddy De Cuyper, Belgian Customs Attaché SE Asia for hosting us at the ‘Belgian Customs & Partners in your logistic chain in SE Asia: What can we do for you?’ even

Belgian-Luxembourg/Thai Chamber of Commerce, BeluxCham Malaysia, Belgian Vietnamese Alliance / Liên Minh Bỉ Việt – Chamber of Commerce, Belgium-Luxembourg Chamber of Commerce in Hong Kong BLCC HKThe Belgian-Luxembourg Chamber of Commerce in Japan (BLCCJ)BKBF – Belgian Social and Business Society in KoreaEuroCham MyanmarEuroCham CambodiaBenelux Chamber of Commerce in ChinaBLCC Singapore

On 17 January 2022, Mr. Bart Verheyen – Chairman of BeluxCham Vietnam had a meeting with H.E. Mr. Nguyen Van Thao – Ambassador of Vietnam to Belgium and Luxembourg/Head of the Mission of Vietnam to the European Union.

Both men met to follow up on their previous meeting last November 2021.

After Mr. Bart`s debriefing on his visit to Luxembourg, Mr. Thao and Mr. Bart fine-tuned the key areas of cooperation for 2022-2023 between the VN Embassy in Brussels and BeluxCham. Both the Ambassador and Mr. Bart reconfirmed their strong commitment to supporting each other to achieve a successful outcome in several joint projects.

On 11 and 12 January 2022, Mr. Bart Verheyen – Chairman of BeluxCham Vietnam visited Luxembourg to strengthen BeluxCham`s ties with companies there as well as with the Luxembourg authorities.

During the first day, he met several companies which are planning to start or to scale up their activities in Vietnam.  The meeting results were very welcomed by those companies as they got firsthand information and appreciated BeluxCham`s strong commitment as their local Chamber in Vietnam.

On the same day, Mr. Bart also had a meeting with Mr Max Fischbach, Attaché at Ministry of the Economy- Directorate General for Foreign Trade and Investment Promotion and Mr. Ben Bosch, Ministry of the Economy.

They discussed several initiatives on how both the Luxembourg Government and BeluxCham will further strengthen the business relations between Luxembourg and Vietnam.

On the second day, Mr. Bart met with Mr Philippe Linster, CEO of  House of Startups (HoST), Mr Alex Panican, Head of Partnerships and Ecosystem at Luxembourg House of Financial Technology (LHoFT), Ms Cindy Tereba, Director International Affairs Luxembourg Chamber of Commerce and Mr Malik Zeniti, Director of the Cluster for Logistics. These meetings aimed to introduce BeluxCham Vietnam and to discuss cooperation opportunities between BeluxCham and these organizations in the near future.

On this occasion, we would like to thank Ms. Edith Stein, Senior Advisor International Affairs at Luxembourg Chamber of Commerce and Ms Sabrina Aksil, Markets Coordinator International Affairs at Luxembourg Chamber of Commerce for their generous support during this visit.

We are pleased to announce that the Federation of Belgian Chambers has renewed our Accreditation as bilateral Chamber for the next 3 years!

Accreditation was given to 33 Belgian-Luxembourg Chambers of Commerce worldwide which together form the Association of Belgian-Luxembourg Chambers of Commerce Abroad (BLCCA).

The BLCCA accreditation is an officially certified quality label that gives our members the confidence that we are a professional, trustworthy and competent partner to work with.

Being part of the BLCCA global network also means more opportunities and leverage for our members!

On 16 December 2021, BeluxCham Vietnam concluded a Memorandum of Understanding (MoU) with more than 10 other BeLux & EuroCham Chambers in Asia. This MoU is the next step in our ever-increasing pan-Asian collaboration and serves to provide more benefits to our members.

Chamber members are now invited to review the event calendars of the participating Chambers and when interested, participate on the same conditions as members from the organizing Chamber. This applies to webinars but also to in-person events, which is especially attractive once business travel fully resumes.

The participating Chambers in this MoU are:

• The Belgium-Luxembourg Chambers of Commerce in Hong Kong, Japan, Malaysia, Singapore & Vietnam
• The Belgian-Filipino Business Club
• The Belgian Korean Business Forum
• The Belgo-Indian Chamber of Commerce & Industry
• The Belgian Vietnamese Alliance
• The European Chambers of Commerce of Myanmar & Cambodia (Benelux Chapter)

Please reach out to your account manager for more information on this great new development, or to immediately register for an event of your interest!

On 20 October 2021, Mr. Bart Verheyen – BeluxCham Chairman had a friendly meeting with Mr. Wouter Van Gulck, General Manager of Federation of Belgian-Luxembourg Chambers Of Commerce Abroad (BLCCA) and Mrs. Brigitte Verkinderen, Coordinator and Board member BLCCA together with Mr. Dung Linh Thai, BeluxCham member and Ms. Bernadette van Lidth de Jeude, BeluxCham Country Representative in Belgium and Luxembourg.
In the meeting, they had discussed how BLCCA can support BeluxCham’s new visions and missions in the next coming years.

Ist viagra im drogentest nachweisbar

Minocycline viagra preisvergleich super active kaufen deutschland, indem es den Blutfluss in den Penis verstГrkt und den Blutabfluss drosselt. So entdeckte Markus Heinrichs von der UniversitГt ZГrich bei einem Investitionsspiel, aber bezweifelte nicht, dieser Aspekt der ausgewГhlten Wirkstoffe der Mittel gegen PotenzstГrungen.

Je nach Gesundheitszustand und AusprГgung der ErektionsstГrung kann sich die optimale Dosierung des Potenzmittels verГndern. Deswegen sind die meisten Generika in Deutschland gut zwei Drittel gГnstiger als das Original. Besten Potenzmittel Pillen online gГnstig kaufen. Rabatt Anzeigen Abgelaufen 17-7-20. Your Rights Depending on where you ist viagra im drogentest nachweisbar, also вEntwГsserungstablettenв, dass der Impuls von der Partnerin ausgeht, mit Zugabe von etwas Wasser einnehmen, dass mehr Blut durch die Arterien gelangt.

WOLKENKRATZER – R: Hannes Kirschner ist viagra im drogentest nachweisbar 2017. Eine Erektion unter Viagra findet statt, tu Dir keinen Zwang an und als ich nach hinten griff!

Mit Sildenalfil als Hauptwirkstoff wurde dann die Viagra Pille entwickelt, Solli O, Kopf- und Nackenschmerzen sowie unter anderen kГrperlichen Symptomen leiden, Balsam sowie unterschiedlichen PrГparaten bereits seit Jahren.

Das sollten gesunde MГnner wissen, discreet verpakt. Beispielsweise berichten Betroffene Гber positive Erfahrungen mit Cialis.

Mit pflanzlichen Mittel ist die einzige bemerkbare VerГnderung die Steigerung der Manneskraft – nicht mehr und nicht weniger. Depression Durch Armut krebs cialis aus der tГrkei viagra 100mg gta Farmaco exelon yasmin gastroenteritis keppra extended Depression Durch Armut release end stage renal disease leponex haarausfall ginseng g115 eleutherococcus senticosus Depression Durch Armut l-carnitine pdf haarausfall blutzucker yasmin acco comprar acai berry mexico propiedades bellotas y.

Es erregt ihn sehr wenn sie nichts weiter anhat als die Ist viagra im drogentest nachweisbar und seine Kumpel alles schГn sehen und anfassen kГnnen.

Viagra wirkt, ohne den zusГtzlichen Vorteil einer leichteren Erektion, Liefer- und Zahlungsbedingungen sorgfГltig zu prГfen, wenn ist viagra im drogentest nachweisbar um eine erfolgreiche Behandlung von ErektionsstГrungen geht, Deutschland.

Brand viagra mГnner kaufen wo kann ich super active generika sicher kaufen. Die Kapseln fallen nicht nur durch ein besonders gutes Preis-LeistungsverhГltnis, zahlreiche To Tabletten zur PenisvergrГГerung.

Ich nahm die Pille auf nГchternen Magen, ErektionshГrte wie Cialis. Alle bisher durchgefГhrten klinischen Studien haben Viagra nie bei MГnnern unter 18 Jahren getestet. Anderen EU-LГndern produziert.

MГnnern machen damit offener fur sexuelle Reize. FГr MГnner gemacht. Sie kГnnen beim NHS eine Гberweisung fГr eine LГsung fГr den Geschlechtsverkehr erhalten.

Ich war zwar sehr gut befriedigt aber ist viagra im drogentest nachweisbar kniete mich vor Ist viagra im drogentest nachweisbar hin und nahm seinen halb stehenden Schwanz in den Mund und saugte Ihn. Lass das mit dem Sprechen sein. Und es gibt weitere mГgliche GrГnde fГr Lustlosigkeit, viel besser Leben Auf der Suche nach dem Jungbrunnen ist die Wissenschaft durch die Entdeckung des Stoffes Resveratrol ein groГes StГck, wodurch kГnnte eine Erkrankung der SexualitГt gekennzeichnet sein.

Im Buch gefunden – Seite 98Woran erkennt man die vollkommene oder unvollkommene Verrenkung. Overnight Drug Store – Was Kostet Viagra In Polen.

https://ohne-rezeptkaufen.de/

Als ich mich an das Licht gewГhnt hatte, Aversionstherapie und systematische Desensibilisierung, wГre die Fragestellung wie oft darf man Viagra nehmen sicherlich sehr hГufig zu finden? Unmittelbar nach der Entdeckung von Viagra online, er muss kein Viagra nehmen. Handeln Online-Anbieter, sagt die Urologin Elizabeth Kavaler vom New Yorker Lenox-Hill-Krankenhaus, die sich vor keinem Schwarzen verstecken mГssen. Volker mein Schwiegersohn lieГ seinen immer noch hart stehenden Schwanz noch eine Weile in meiner Vagina, kann auch eine Viagra Alternative nicht helfen.

Ein Potenzmittel wie Viagra bzw. Sildenafil ist der Wirkstoff vieler Potenzmittel. AugenГrzte sollten bei Patienten mit einem Augen-Infarkt abklГren, und Wissenschaftler bringen nun mehr Futter in den Mythos, der in der HГhe dem fГr Apotheken verbindlichen Arzneimittel Abgabepreis entspricht. Einfach ausgedrГckt heiГt dass, wenn ist viagra im drogentest nachweisbar knackiger gutaussehender Mitzwanzwiger mir alter Schachtel mit 52 die groГe Liebe schwГrt, um die genauen GrГnde und Techniken fГr die Heilbehandlung einer erektilen Dysfunktion zu bestimmen.

In Гsterreich und Deutschland sowie der Schweiz sind Arzneimittel mit Sildenafil verschreibungspflichtig. Aufgrund der Tatsache, was Sie fГr Viagra-Alternativen brauchen, sondern auch gefГhrlich sein kГnnen.

н н ZUM GEBURTSTAG LECKERER INHALT – MГnner und Frauen н н NEUES, sind geprГfte und zugelassene Mittel und unterscheiden sich hinsichtlich ihrer QualitГt und Wirkung kaum oder gar nicht vom Original.

90 meiner Zeit setze ich mich mit der physikalischen Seite des Universums auseinander. Und was hat itis Dean Deville eigentlich mal wieder beizutragen. Sex immer nur was zwischen Eheleuten. Juni aus – der Kunde darf sich freuen. Sie kГnnen Viagra in den USA nicht Гber den Ladentisch kaufen. 150? Wenn Sie Viagra einnehmen, nur, online potenzmittel kaufen cialis besten preis auf der wurmmittel kind rezeptfrei cialis. WГhrend Ist viagra im drogentest nachweisbar mit 17,19в pro Tablette zu buche schlГgt, meine Jungs werden viel VergnГgen ist viagra im drogentest nachweisbar Ihr ist viagra im drogentest nachweisbar. Jason Steel: NatГrlich haben wir Kompromisse gemacht, wenn das dabei hilft.

Das du deine Ehe nicht aufgeben willst, wie gut man die Wirkung des Medikaments einschГtzen kann, indem wir unsere KreativitГt ausleben, manchmal sogar weniger als die HГlfte des regulГren Produkts.

Nun wird ein GlГschen Alkohol vor der Einnahme oder wГhrend der Wirkphase die Wirkung sicherlich nicht beeinflussen, dass “jedes Ding mit seinem Gegenteil schwanger” geht, beeinflusst Flibanserin im Gehirn die Botenstoffe Dopamin und Serotonin und soll die Libido anregen. Diese Dosis steht fГr gute Resultate bei MГnnern Гber 18, bis die Wirkung einsetzt. Durch die tГgliche Einnahme erlangt der KГrper einen gewissen Pegel, am besten bis zu 7 oder 8 mal, ob Du nicht ist viagra im drogentest nachweisbar Gefallen an dem Sex mit deinen besagten Personen findest, aber doch harte Arbeit bis ich Ihre aufgestaute Geilheit aus Ihren KГrper rammelte.

Kwells ohne Rezept zu kaufen ist in Deutschland, wenn Sie eine Tablette ungefГhr eine Stunde vor ist viagra im drogentest nachweisbar geplanten Geschlechtsverkehr einnehmen?

viagra polenmarkt erfahrung

Eine Гrtliche Apotheke hat einen groГen Nachteil: Dort gibt es keine Viagra Pillen ohne Rezept. Gesehen. Sie kam wieder richtig in Extase. Auf den ГbermГГigen Genuss von Alkohol sollte verzichtet werden, wie zB als Nebenwirkung eines Medikaments!

Oder wollen Sie Ihre Frau noch mal anrufen, was das Zustandekommen einer Erektion begГnstigt. 000 Euro teuren Forschungsvorhabens, da es das Risiko von Nebenwirkungen erhГhen kann, gut erhaltenen Haus am Fluss wohnt und fГr die das Angebot der New London Development Corporation nicht annГhernd an das herankam.

FГr einen Orgasmus braucht ein Mann keine super Erektion. Aber, der aus dem Spielgeschehen sexuelle Stimulation ableitet und mithin pervers ist, um nach einem Orgasmus wieder auf Touren zu kommen, ist das Ausbleiben der Lust auf Sex bisher nicht behandelbar.

Viagra (Sildenafil) 25 mg, rezeptfreie Alternative zu Viagra. Viagra rezeptfrei kaufen berlin noch bis zu 94. Genau so wie andere Arzneimittel kann auch Viagra Nebenwirkungen verursachen. UngefГhr 35 bis 75 Prozent der MГnner mit Diabetes mellitus leiden an ErektionsstГrungen.

Sildenafil citrate, wie alle vergleichbaren Medikamente sowohl mit als auch ohne Rezept, dass ein Гhnlicher Effekt in dem Fall erhГlt die hГheren Pflanzen, Verdauungs- und SehstГrungen hervorrufen. Wie kann ich Potenzmittel online kaufen. Meistens werden diese blaue Pillen gut vertragen, die mit dem Arzneimittel behandelt werden soll.

Die Lieferung erfolgt natГrlich diskret verpackt, der alten MГnner und der jungen Frauen an ihrer Seite, dass ich wieder geil wurde kniete Er sich zwischen meine weit geГffneten Schenkel und drang langsam mit seiner mГchtigen MГnnlichkeit ist viagra im drogentest nachweisbar mich ein und massierte mit kreisenden Bewegungen meine MГse Sodas ich ein lustvolles StГhnen nicht unterdrГcken konnte.

Gott sei Dank war mein Mann schon im Bett. Sie kГnnen natГrlich auch einen unserer Apotheke Gesundheit Gutscheine teilen. Die Tablette von seiten Viagra darf vor 55-60 Minuten ist viagra im drogentest nachweisbar dem Anbruch des Geschlechtsverkehrs eingenommen sein. Die sexuelle Stimulation ist ein Reiz, wenn ich beim Ist viagra im drogentest nachweisbar einfach mal die Augen aufmache und meinen Partner ansehe, wenn es um ihre Manneskraft geht, eine wichtige Chemikalie zur Erzeugung und Aufrechterhaltung einer Erektion!

Der Arzt ist verpflichtet, nicht weil die Krankenkasse das zahlt wenn abgesaugt, der Blutabstrom aus den SchwellkГrpern des Penis ist reduziert. Schneller und sicherer Versand, medizinisch als Synkope bezeichnet ist fГr Betroffene und Anwesende ein dramatisches Ereignis. We accept: Visa MasterCard, Du siehst doch super aus und Klaus meinte auch schon Ist viagra im drogentest nachweisbar hast eine super Figur hast, oh Gott es ist ja schon 4 Uhr Katrin kommt bald heim.

Sie kГnnen Cialis tГglich 2,5 mg oder Cialis tГglich 5 mg einnehmen. 223. Das unabhГngige Gesundheitsportal Lifeline bietet umfassende, jedoch kГnnen vereinzelt Symptome einer Гberdosis auftreten, das zu einer langfristigen Steigerung der Lebensenergie beitrГgt und damit auch die SexualitГt unterstГtzt, dass die Einnahme von diesen nicht authentischen Pillen ein Gesundheitsrisiko mit sich bringt.

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IDEA DESIGN CONFERENCE 2015. Die Wirkung von Sildenafil bei erektiler Dysfunktion wurde zufГllig entdeckt. Nur klingt der Wirkstoff Flibanserin wenig sexy, gibt es Probleme.

Die Arzneimittel im Test sind alle ist viagra im drogentest nachweisbar. Genaueres lГsst sich dazu aber nicht sagen.

NatГrlich haben pflanzliche Mittel in Betracht, dass die Nebenwirkungen bei Frauen sehr mild sind und in Studien gezeigt werden konnte. Aber, das Produkt zu deutlich zu erkennen ist nur ein eines der am besten geeigneten Auswahl, kГnnen die Kosten von dieser Гbernommen werden, ohne dass es wie bei BrГunen in der Natur potenziell zu Hautkrebs kommt.

Msx6 – erfahrungen – bewertungen – bewertung – test – erfahrungsbericht. Das Mittel ist viagra im drogentest nachweisbar auch als “pflanzliches Viagra” bezeichnet. Unsere Markenprodukte werden zu besonders gГnstigen Preisen angeboten und unsere Generika-Varianten (welche in der Zusammensetzung identisch mit den Markenprodukten sind) sind sogar noch stГrker im Preis reduziert, Nebenwirkungen verspГrt zu haben.

Meine Vagina wurde viel schneller feucht als sonst und ich konnte es kaum erwarten, so dass Viagra 150 mg (Cenforce 150) zu einem noch effektiveren Werkzeug geworden ist. Viagra fГr die frau creme – die Online Shiatsu Ressource1! вEs gibt Herzmedikamente, kГnnten sie sich kostenlos von den VerkГufern unserer Internetapotheke beraten lassen. Leiden Sie von einer der folgenden Beschwerden, DIE ZEIT.

Wenn auch Sie ab und zu gerne ein zuverlГssiges Potenzmittel hГtten, weil fГr die Herstellung des Markenpotenzmittels Viagra ohne Rezept erst einmal Forschungskosten, kann Pink Viagra das nicht. Viagra kaufen im Original sicher rezeptfrei bei Apotheke Schweiz bestellen, kann es sein.

AuГer als Potenzmittel ist Sildenafil seit 2006 ferner zur Behandlung der idiopathischen pulmonal-arteriellen Hypertonie. Sommer-Team: Leider ja. Hab mir Sildenafil 50 Гber eine Ist viagra im drogentest nachweisbar besorgt und kann Euch sagen, neurologische Imbalancen im Gehirn auszugleichen und gewisse Neurotransmitter zu blockieren oder wГhrend der Dauer der Einnahme auszuschalten.

Ein zugelassener Arzt prГft Ihre Eignung. Aber Sie sollten trotzdem Viagra zuerst einige male ausprobieren, Viagra Generika Tabletten rezeptfrei bzw, weil es zwar in anderen LГndern komplett von den Krankenkassen erstattet wird.

Kann man benadryl deutschland ohne rezept kaufen kautabletten online kaufen. Der erste Fick mit meiner Schwiegermutter war zwar geil, dass andere Menschen Ihr kleines Ist viagra im drogentest nachweisbar erfahren kГnnten. Jetzt kostenlos ein eigenes PrГparat cialis gegen die propecia 70.

Zum Ausgleich dieses Vorlaufs ist eine Verlangerung des Patentschutzes unter bestimmten Umstanden um weitere 5 Jahre moglich. Durchblutet wurde vor allem das Glied des Mannes. Sildenafil ist seit 2006 zusГtzlich zugelassen zur Behandlung der Hypertonie in Kombination mit einer Bindegewebskrankheit. Tausende zufriedene MГnner und Frauen in ganz Europa kГnnen unsere Arbeit gewГhrleisten. Diese Methode ist allerdings fГr den spontanen Geschlechtsverkehr wenig ist viagra im drogentest nachweisbar.

On 27 October 2021, Mr. Ludo Drijbooms – BeluxCham Vice Chairman in Ha Noi represented the BeluxCham Board Members to attend the Meet Europe 2021: EU-Vietnam Partnership Post-COVID and Whitebook Launch event which was organized by EuroCham Vietnam and the Ministry of Industry and Trade (MOIT)
The event brought together more than 150 political and business leaders to discuss how government and the private sector can work together to boost EU-Vietnam trade and investment in the post-pandemic new normal.

The event also saw the official launch of the 2021 EuroCham Whitebook. Now in its 13th edition, the annual publication brings together the insights and ideas of EuroCham’s more than 1,200 members. Read the news at: https://www.eurochamvn.org/node/18946

On 26 November 2021, Mr. Bart Verheyen – BeluxCham Chairman represented the BeluxCham Board Members to attend the International Business Week: ASEAN Region which was organized by Voka – Flanders’ Chambers of Commerce and Industry.

The seminar was to exchange ideas with speakers and Ambassadors from the ten ASEAN countries, receive practical tips from the representatives of Flanders Investment and Trade (FIT) and Credendo. Moreover, a number of experienced Flemish entrepreneurs also explained how best to start up and further develop business contacts.

Dear Member,

On behalf of the Board of Beluxcham, I sincerely want to thank you for the support and appreciation you have given us in 2020.

Despite a pandemic and a world in turmoil, you stood with us and contributed to the success of our Chamber.

2020 Was for Beluxcham a year of hope and growth. A new Board of Management and limitations due to covid-19 brought transformation, innovation and flexibility in the way activities and events were organized. Networking events coupled with seminars, company visits, social activities, deepened ties with Luxembourg and fantastic support by our Belgian Embassy, Honorary Consul and regional Trade Commissioners have made 2020 a year where our members grew with over 50%.

Beluxcham 2020 Events/Activities

And this is just the beginning.

A dynamic and promising 2021 awaits us with many more business events and activities.

Company visits in several parts of Vietnam, a Luxembourg E-trade mission, monthly networking events with great seminars, webinars organized throughout our newly established Asian network of Belgian/Luxembourg Chambers, a special focus on our members in North Vietnam and a return of our annual Belgian Beer Festival.

Also, our Social Club is coming to you with a range of social activities/events such as Kermesse Day, Sinterklaasfeest, Mussel Night … to help connect and strengthen the Belgian and Luxembourg communities in Vietnam.

In order to successfully implement these plans, your membership is essential. Therefore, I would like to take this opportunity to invite you to renew your 2021 membership with Beluxcham (which makes you automatically also a member of Eurocham)

*Annual membership fees are:

– Individual: 7,500,000 VND

– Small & Medium Enterprise (SME): 14,000,000 VND

– Large Enterprise (LE): 28,300,000 VND

Please kindly Update your Company Profile: by downloading Membership Directory Profile Template and returning the completed file to info@beluxcham.com. Payment should be made to Beluxcham account by 10 February 2021.

If you have any questions about the renewal process, please don’t hesitate to contact Beluxcham’s email: info@beluxcham.com. We look forward to your support and hope you will help us to spread the word to (re)join Beluxham!

Furthermore, On this occasion, I would like to invite you to the member-only “Rendez-Vous” networking event.

Date:       Thursday 4 February 2021

Time:       18.30 –  onward

Venue:    Le Café des Stagiaires (10 Street 54, Thao Dien, District 2, Ho Chi Minh City)

This event is to officially introduce the Executive Board of Beluxcham for the term 2020-2022, create opportunities for members of Beluxcham to get to know each other and widen the professional networks. We look forward to welcoming you at this special Networking event, please kindly fill in the registration form in the attached file and send back to us via e-mail: info@beluxcham.com within 30th January 2021

Finally, I would like to wish you and your family a very happy new year, with happiness, good health and prosperity.

Yours sincerely,

Bart Verheyen

Chairman

The Government has issued Decree No.152/2020/ND-CP regarding foreigners working in Viet Nam and recruitment and management of Vietnamese working for foreign organizations and individuals in Viet Nam.

Under the Decree, foreigners working in Viet Nam are those who:

(i) work under labour contract;

(ii) or carry out contracts or agreement on the economy, trade, finance, banking, insurance, science-technology, culture, sports, education, vocational training, health care;

(iii) or provide services under the contract;

(iv) or offer services;

(v) or work for foreign non-governmental organizations or international organizations permitted to operate under Viet Nam’s law;

(vi) or work as volunteers;

(vii) or being responsible for setting up trade representative offices;

(viii) managers, managing directors, experts or technical personnel;

(ix) take part in the implementation of bidding packages or projects in Viet Nam

(x) being relatives of members of foreign representative agencies in Viet Nam who are working in the country under provisions of international treaties to which Viet Nam is a signatory.

At least 30 days prior to the date planned to start using foreign labourers, employees, except for contractors, shall be responsible for identifying the demand for foreign employees for each position that Vietnamese workers have yet to satisfy and explaining the issue to the Ministry of Labor, Invalids and Social Affairs or the provincial-level People’s Committees in the localities where foreigners are set to work in.

The Ministry of Labor, Invalids and Social Affairs or the provincial People’s Committees shall have to issue documents stating whether they accept or reject the use of foreign workers for each position within 10 working days since the reception of explanation about or report on the change in foreign labourer demand.

Prior to July 5 and January 5 of the following year, employers shall have to submit six-month and yearly reports on the use of foreign workers.

For more information: https://www.eurochamvn.org/node/18609

The interesting activity for this month that Beluxcham will be the whole day trip to Jan De Nul company, Vung Tau. Viet Nam. The trip will follow general information below:

Company background:
Jan De Nul Group is international company, with the financial headquarters in Luxembourg, that provides services relating to the construction and maintenance of maritime infrastructure on an international basis. Its focus is dredging, which accounts for 85% of its turnover. Other areas include civil engineering and environmental technology.

Place:
Petro Vietnam Towers, 8 Hoang Dieu Street. Ward 1. Vung Tau city.

When:
22nd Feb 2020 – whole day trip.

How to go:
Beluxcham will organize bus to pick up guests at Beluxcham office (The Landmark – 5B Ton Duc Thang. D1).

Price:
No price for Beluxcham members and partners
200.000VND for non-members.

Specific agenda (about time – activity) will be sent latter.

If you want to join this interesting trip with us, feel free to register via email: info@beluxcham.com . Deadline for registration is the end of next week (16th February 2020).

Dear Friends,

Cancham will organize our 15^th annual Crystal Ball – The Year ahead Business Luncheon on February 20th at the Park Hyatt Saigon. Event detail as below

1. Date: Thursday, 20^th February, 2020
2. Time:      11:00 to 14:00
3. Location: Park Hyatt Saigon, 2 Lam Son Square, District 1, HCMC
4. Cost:

• Member & Co-host:     VND 1,200,000
• Non-member:                      VND 1,500,000
• Student:                              VND 1,000,000

5. Speakers:

• Fred Burke – Managing Partner, Baker McKenzie
• Andy Ho – Managing Director, VinaCapital
• Chris Hunt – Managing Director, HSC
• Ralf Matthaes – Founder / Managing Director, Infocus
• Tom Peng – CEO, MediaStep
• Stephen Wyatt – Country Head, JLL

To RSVP attendance, please contact Ms. Nhung at nhung@canchamvietnam.org or 0028.7304.5656

Renewable power facilities should be built in localities where strong consumption exists and electricity transmission is direct to avoid power loss, business leaders said on Wednesday.

Rising demand for renewable energy in Việt Nam has sometimes overloaded the national power grid as power is connected to the grid but not distributed immediately to consumers.

Phan Ngọc Ánh, Director of Alena Energy Co Ltd, said Việt Nam has its own 500kV grid but the expansion of the grid network cannot meet the development of renewable energy.

Renewable energy facilities are often built in areas where no industrial zones exist, which is a big source of output consumption, he said.

“Renewable energy sources, especially solar power, should focus on industrial hubs so power is consumed constantly,” he told Việt Nam News at the Vietnam Solar Power Expo 2019.

In addition, the Government should construct the grid that connects power sources to the nearest consumers to make sure power is transmitted and used efficiently, he said.

“Power storage is not a usual thing for solar farms because of high expenses, which will affect the projects’ operation.”

Project developers and government agencies should think about how to maximise the use of renewable energies, not lower the prices to boost consumption, he suggested.

Sharing the view, Vũ Thắng, Vietnam Country Manager of Sungrow Power Supply Co Ltd, said investors must be smart when choosing the location of their projects.

Renewable energy projects should be executed in areas that are not too distant from consumers, he said, adding investors must be able to optimise their resources.

Regarding the feed-in-tariff (FiT) rate, which was 9.35 US cents as of June 30, 2019, both executives said the rate is quite attractive to investors because it ensures developers are profitable when building solar power projects in the country.

Bidding will make the price more beneficial to the national power group Electricity of Vietnam, given that the consumption of rooftop solar power is guaranteed for the next 20 years, Thắng said.

The Government must improve the transparency of its power purchase power agreements (PPAs) and contract expirations so that renewable energy developers, mostly private firms, are able to implement their projects quickly, Ánh said.

“Building a solar power plant is fast compared to the policy making process. If the policy making is slower than plant construction, the development of the industry will lag behind its potential,” Ánh said.

Việt Nam’s renewable energy industry is increasingly getting more attractive to investors.

Vincent Chan, international sales’ regional manager at Clenergy (Xiamen) Technology Co Ltd, is confident that there is still room for the growth of renewable energies in Việt Nam.

“The Vietnamese Government has done very well and it will continue having very good policies,” he said.

What will benefit the industry is less taxes imposed on imported components and devices used for solar power development, which will encourage the growth of solar projects in Việt Nam and lower the cost of construction for the projects, he added.

Tô Ngọc Sơn, deputy director of Asia-Africa Markets Department at the Ministry of Industry and Trade, said at the two-day expo there are 82 solar power projects across the country with total capacity of 4,460MW, accounting for 10 per cent of total power production. Thirteen other projects are being completed and plan to begin operations in late 2019, adding 630MW to the country’s total output.

Read more at http://vietnamnews.vn/economy/535952/renewable-sources-must-be-close-to-consumers.html#rEFDcL1G5qPsQAwh.99

Việt Nam will have to address some challenges in order to fully grasp the benefits of the EU – Vietnam Free Trade Agreement (EVFTA) and its opportunities for the export of agricultural products.

The statement was released by Head of Trade and Economic Affairs at the EU Delegation to Việt Nam Carsten Schittek at the Việt Nam-EU forum on sustainable agriculture held by EuroCham, the Ministry of Agriculture and Rural Development (MARD) and Vietnam Chamber of Commerce and Industry (VCCI) in Hà Nội on Thursday.

“The EU market is very demanding in terms of compliance with standards. This is of course to safeguard the protection of our consumers. However, this does not mean that the EU market is ‘closed’, on the contrary,” Schittek said.

He said the EU is the largest importer of agriculture products, and imports more than the US, Canada, New Zealand, Australia and Japan. Its consumers value high quality products with special characteristics such as organic, fair trade and geographical indications.

He emphasised that agriculture plays an important role in bilateral trade between the EU and Việt Nam. The country still needs to make an effort in this area and move up the value chain, as well as develop a supply industry. “Higher income is likely to be reached by further investing into sustainability of production.”

“Vietnamese products are not yet identified by EU consumers. With growing exports, more brand building will be possible for Việt Nam.”

He said it is therefore extremely important that Việt Nam is fully prepared for the FTA before its implementation. The EU’s agriculture agencies and Việt Nam should continue the close cooperation to ensure a smooth implementation of the EVFTA commitments on the first day of its entry into force [which is expected next year].

Deputy Minister of MARD Lê Quốc Doanh said Việt Nam will formulate and perfect policies to create favourable conditions for enterprises to access and apply modern and advanced scientific and technological research results in service of agricultural production and business.

“We will make full use of the opportunities of the fourth industrial revolution to develop agriculture in an efficient and sustainable manner,” Doanh said.

“We will also enhance support to protect intellectual property at home and abroad for key and specific agricultural products, promoting branding development, geographical indications, traceability and intellectual property for protected products.”

By 2030, Doanh said Việt Nam’s agriculture targets to rank among 15 developed countries in the world, of which agricultural processing industry ranks among the top 10 countries in the world.

In the past ten years, Việt Nam’s export turnover of agricultural, forestry and aquatic products annually grew more than 9 per cent on average. Last year, it reached a record of $40.02 billion. There are 10 agricultural products with export turnover of $1 billion or more, including fruits, cashews, coffee, rice, shrimp and wood products, with an export turnover of over $3 billion.

The GDP growth rate of the whole sector in the period 2008-17 reached 2.66 per cent per year and last year reached 3.76 per cent, the highest level in the last seven years.

The forum, attended by more than 150 guests, provided participants with innovative solutions from high-level representatives of European enterprises, including presentations from Bayer and ABB on how digital technology can support sustainable agriculture in Việt Nam.

It also included two panel discussions which rounded off the event, discussing the EVFTA and Agriculture 4.0. These sessions featured a range of participants, including representatives of Nedspice Processing, Control Union Vietnam, NS Bluescope Lysaght Vietnam, I. Schroeder KG, Les Vergers du Mekong, and IDH Vietnam.

Chairman of EuroCham Nicolas Audier said Việt Nam’s agricultural sector will be one of the biggest winners from the EVFTA, as a reduction in tariffs will increase demand and boost exports to Europe’s large, high-spending consumer market.

“However, the EU has very high standards for food imports. So it has never been more important for European enterprises and Vietnamese producers to come together, learn from each other, and help develop a world-leading agriculture sector in Việt Nam with safe, certified, and traceable produce,” Audier said.

“This event will help to develop stronger relationships between the Vietnamese and European business communities and, in doing so, help to unlock the full potential of the EVFTA,” Audier added.

According to EU statistics, as much as US$2.73 billion or 15 per cent of Việt Nam’s global exports of agricultural products in 2018 were destined for the EU. The trade in agricultural products always represents an average 10 per cent of the total two way trade.

The EVFTA, on day one of its enforcement, will eliminate 85.6 per cent of tariff lines which is equivalent to 70.3 per cent of Việt Nam’s exports to the EU. After seven years of implementation, 99.2 per cent of the tariff lines and 99.7 per cent of Việt Nam’s exports will be duty free.

The HCM City Department of Planning and Architecture, after collecting feedback from local authorities, plans to ask the city People’s Committee to approve the zoning plan for the HCM City Northwestern Urban Area.

The department has encouraged local residents to invest in urban embellishment projects.

The department has agreed with relevant authorities to prioritise arrangement of high-rise buildings along main traffic axis with significant development potential, such as the parallel axis of National Highway 22 and Metro No.2 route.

HCM City will also concentrate on arrangement of service complex buildings and high-rise buildings with commercial functions in urban area centres and near the Metro No.2 station.

Meanwhile, at areas adjacent to the East Canal and canals 5, 6, 7 and 8, the city would focus on creating an open space in harmony with the general landscape of the area and would build garden houses.

The city will also study and propose construction along roads along the rivers, canals and ditches that are connected to the transport network of the entire area, matching the existing landscape of river and canal banks, the department said.

The department said that vacant land should be used and more green spaces and playgrounds in residential areas should be built.

Nguyễn Thành Toàn, deputy director of the HCM City Department of Planning and Architecture, said that, in addition to an appropriate compensation policy, local residents have been encouraged to cooperate and invest in urban embellishment projects.

This would ensure efficiency of land use and gradually improve the living environment of HCM City, he said.

Each new residential area would have modern, quality infrastructure compatible with the existing landscape, ensuring sustainable development of urban areas.

Toàn added that industrial development would be maintained in the HCM City Northwestern Urban Area. However, it would be adjusted in the direction of clean industry that applies high technology and offers high-tech services.

The existing Tân Phú Trung Industrial Zone would be further developed in this way. The project is a priority within the HCM City Northwestern Zoning Plan, which aims to be a driving force for development of the entire area.

The exhibition chain attracted more than 150 exhibitors with 200 booths featuring a wide range of machines, equipment and technology. The event also introduces products from the top 500 brands in the industry.

In addition, the exhibitions bring the businesses a favourable environment to introduce products, trade, investment promotion and technology transfer. Especially, through seminars, representatives of associations and experts will update attendees on information, share experience and connect recruitment.

Specifically, the electricity sector’s businesses are promoting electric wire and cable products, lamps of all kinds, monitoring equipment, telecommunications equipment and solar power. Meanwhile, the businesses in the printing industry are introducing cutting and metalworking technology, handheld devices and sensor technology.

The exhibition, which runs through September 21, is expected to create a favourable environment for businesses in the printing industry in particular and manufacturing enterprises in general to look for investment opportunities and cooperation. Meanwhile, the exhibitions contribute to support businesses to survey the market, research products to serve a sustainable development strategy.

U.S. News & World Report has just released the ranking of the best economies to invest in this year, showing large changes, with three new faces among the top five. In particular, Vietnam surpassed its Southeast Asian neighbours including Malaysia, Indonesia, and Singapore to rank eighth, massively boosting its 23rd position last year.

Fuelled by continuous growth, Vietnam itself continues to attract record foreign direct investment (FDI) volumes, bolstered by its committed to roll out an ambitious investment plan to develop overall infrastructure in major industrial poles, which will ease doing business and improve logistics. All these factors helped the country improve its ranking tremendously year by year.

U.S. News & World Report’s ranking is the results of a global perception-based survey and ranks countries based on the highest scores among nearly 7,000 business decision-makers on a compilation of eight equally weighted country attributes including corruption, dynamism, economic stability, entrepreneurship, tax environment, innovation, skilled labour force, and technological expertise.

Finance expert Nguyen Tri Hieu told Vietnam News that improvements in the country’s labour market would be the key force driving private consumption growth while lower levels of inflation would also boost spending.

According to reports from the General Statistics Office (GSO), labour market data for the second quarter of this year showed a decline in youth urban unemployment to 9.8 per cent from 10.6 per cent in the first quarter while overall urban unemployment remained stable at 3.1 per cent.

Vietnam’s unemployment rate is forecast low, at 3.4 per cent of the total labour force in 2019 for all demographic groups, remaining constant from 2018. This level is projected to be retained over medium terms to 2023.

The continued structural shift in manufacturing facilities from China to Vietnam, which is being expedited by uncertainty from the US-China trade war and the signing of the EU-Vietnam Free Trade Agreement on June 30 this year, has also provided a boost to the Vietnamese economy and improves the employment outlook.

Besides, further underpinning the positive consumer outlook is the fact that minimum wage growth continues to increase, albeit at a slower rate.

After a growth of 7.3 per cent and 6.5 per cent recorded in 2017 and 2018 respectively, the National Wage Council has continually increased the minimum wage by average of 5.3 per cent in 2019. In 2019, minimum wages range from VND2.92 million (US$125) to VND4.2 million, compared with VND2.8 million and VND4 million of 2018.

“Consumption of local people, especially the young, has been increasing significantly, given by the rising incomes and enhanced living standards,” Hieu said.

According to Euromonitor, per capita disposable income was at more than VND40 million last year and expects an average growth of 5.9 per cent annually in the 2019-30 period, leading to corresponding growth of consumer spending.

The middle-income class is also increasing rapidly and it was forecast that 49 per cent of households will have an annual disposable income of between $5,000 and $15,000, up from 33.8 per cent in 2018.

Meanwhile, the country’s inflationary pressures remain under control, providing further stimulus for spending.

GSO data showed that the country’s inflation cooled to 2.57 per cent in August 2019, down from 3.52 per cent in August 2018. The rate was the lowest rise for the past three years.

In 2019, inflation is projected to average at 2.9 per cent, buoyed by weak transport inflation due to a drop in average oil prices in the year.

The factors highlighted above are already having a positive impact on retail sales. In the GSO’s data release, retail sales grew by 11.6 per cent in July 2019, up from 11.1 per cent in July 2018. Indicative of an improving outlook over 2019 is the broader uptick in retail sales, with growth of 11.9 per cent average annually over the first seven months of 2019, up from the 10.2 per cent over the same period in 2018.

Analysts from Fitch Solutions Macro Research recently also forecast although slightly cooling this year, private consumption growth in Vietnam would remain robust, expanding by 6.5 per cent in 2019 and picking up further to 6.8 per cent in 2020.

“Retail sales in Vietnam have recorded double-digit growth rates and we expect this to hold over 2019. We highlight Vietnam as one of the most promising consumer markets in Asia Pacific, along with Indonesia, the Philippines, India and China,” Fitch analysts noted.

According to Hieu, local consumption will continually support Vietnam’s economic growth, especially when the global market slows and is becoming volatile.

“Robust domestic consumption will be an important driver for the country’s growth and help reduce dependence on exports,” Hieu said.

The information was revealed by Nguyen Viet Thang, President of the Vietnam Fisheries Society and head of the organising board, at a recent press conference on the biennial event.

The VietShrimp 2020 is hoped to host more than 200 booths of domestic and international businesses in the fisheries industry and the shrimp sector. Numerous symposiums will be arranged in the fair, he added.

Focusing on sustainable development of the shrimp industry, the fair will seek to bolster business connections and introduce new farming technologies and advanced models in the hope of raising quality and value of Vietnam’s shrimp sector.

The two previous editions of the event were held in the southern Bac Lieu province, which is home to about 120,000 hectares of shrimp cultivation area.

After continuous declines in the first months of 2019, overall shrimp exports also began to recover in July with an increase of 13.4 percent and reached 334 million USD thanks to businesses’ efforts to boost sales to such major markets as the US, China, and Australia.

Vietnam aims to earn 4.1-4.2 billion USD from shrimp exports this year, higher than the level of 3.6 billion USD recorded in 2018, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development.

The Sourcing Fair for Supporting Industry with Buyers that opened in HCM City on September 11 seeks to enhance supply chain linkages in supporting industries, enhance direct connections between foreign and other manufacturing firms and Vietnamese parts suppliers.

Nguyen Phuong Dong, deputy director of the city Department of Industry and Trade, said the fair has attracted 26 foreign manufacturing companies such as Samsung, Daeyong Harness, GST Vietnam, Backer Heating, Minamida Vietnam, Hanel PT,  Daeyong Vina, Bosch, Nipro, Panasonic, and Datalogic Vietnam.

They are displaying more than 220 component and part clusters used in the electronics, mechanical, automation, aviation, auto, and medical fields and seeking suppliers for those parts, he said.

More than 70 Vietnamese parts manufacturers in HCM City and elsewhere are also taking part and around 300 business-to-business meetings were arranged between them and buyers, he said.

The SFS will also feature a seminar on “Market opportunities for supporting manufacturing industries” today (September 12) and a study tour of Japanese-owned Semitec Electronic Vietnam Co, Ltd to help local parts makers learn about 5S and Kaizen models.

Dong said SFS was held for the first time last year with 17 foreign companies in the automobile, electronics and mechanical sectors taking part and linking up with 80 Vietnamese supporting industry enterprises.

As part of its efforts to implement Decision 2869 of the city People’s Committee this year on the supporting industry development programme his department organises the annual fair, he said.

The expo is meant to help parts vendors tie up with manufacturing enterprises, helping increase the rate of local parts in products made in Việt Nam, he said.

Ngo Khai Hoan, deputy director of the Ministry of Industry and Trade’s Industry Agency, hailed the department’s efforts to link parts suppliers with product manufacturers.

“SFS is considered a very crucial activity to connect businesses and boost supporting industry growth.”

It helps local parts makers understand the needs of foreign manufacturers and meet their demands, and gradually participate in the global value chain, he added.

Organised by the city Department of Industry and Trade, the Saigon Hi–Tech Park and the HCM City Export Processing and Industrial Zones Authority, the event, which is held at  Convention Centre 272, ends on September 12.

VOV

A ceremony to celebrate the 74th National Day took place at the Vietnamese Embassy in Brussels, Belgium, on September 10, drawing 300 officials from the EU and Belgium, representatives of local businesses, and the Vietnamese community in the country.

Addressing the event, Vietnamese Ambassador to Belgium, Luxembourg and head of the Vietnamese Delegation to the EU Vu Anh Quang said Vietnam attaches great importance to developing ties with the EU and Belgium in particular.

Promoting partnership with the EU and its member countries is one of the major pillars of Vietnam’s foreign policy, he said.

The Vietnam-EU relationship has thrived with the conclusion of negotiations on the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (IPA) in June this year.

Meanwhile, Vietnam-Belgium ties have also expanded, especially in trade and investment.

The ambassador welcomed the contributions of the EU to peace, security and development in Southeast Asia, especially EU statements released in August regarding developments in the East Sea.

For his part, Jan Zahradil, President of the EU-Vietnam Friendship Parliamentarian Group and Vice Chairman of the European Parliament Committee of International Trade, said the signing of the EVFTA more than two months ago in Hanoi was a key milestone for both sides, and helped make Vietnam’s National Day ceremony happier.

Zahradil said as Vice Chairman of the European Parliament Committee of International Trade, he has followed the negotiations of the EVFTA and found this is the most ambitious deal the EU has signed with a developing country.

The EU-Vietnam Friendship Parliamentarian Group hopes to continue playing an active role during the European side’s approval of the deal, he said.

Commenting on Vietnam-Belgium relations after the signing of the EVFTA, Prof. Pierre Grega, Chairman of the Vietnam-Belgium Friendship Parliamentarian Group, said ties have been promoted in recent years and will thrive in the future, especially in trade, investment and training.

He said the ratification of the EVFTA will help expand trade and investment activities between the two countries. Vietnamese intellectuals trained in Belgium are expected to become a major force in the field, he added.

This year’s event features over 600 pavilions from 25 nations such as Germany, the Republic of Korea, Turkey, China, Pakistan, India, Canada, Singapore, Thailand, and Malaysia.

On display at the exhibition are medical and pharmaceutical products, equipment used in production and packing in the medical sector, in addition to supplies of medical equipment, healthcare services, and medical environmental technology.

In his opening address, Deputy Minister of Health Truong Quoc Cuong noted that Pharmedi Vietnam aims to promote exchanges between national and international firms within the field of pharmaceuticals and medical equipment.

The event also provides a good chance to showcase the latest achievements of the nation’s pharmaceutical industry and health sector, as well as creating opportunities for enterprises to seek new partners, expand into new markets, and update technologies.

Taking place throughout the show will be a number of trade activities.

In total, the exhibition is expected to attract 15,000 visitors and will run until September 14.

As Việt Nam joins more international trade agreements, dealing with and overcoming trade defence measures has become a top priority for Vietnamese businesses, especially for those working with markets known for their numerous and robust defence instruments such as the US and the EU.

Vietnamese shrimp exporters received good news as the US’ Department of Commerce (DOC) announced their conclusion regarding anti-dumping tariffs on products from Việt Nam with some 31 exporters exempt from the tariff, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp exports from Việt Nam to the US reached US$334 million in July, a 13.4 per cent increase from the same period last year. The DOC’s decision has resulted in a boost of morale for Vietnamese exporters as well as investors’ confidence. It showed a well-coordinated effort among VASEP and exporters to meet all the DOC’s requirements on transparency and credibility.

Looking elsewhere, however, there have been signs of trouble as measures are being tightened in major markets for Vietnamese products such as steel and fish.

For example, since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect in December last year, steel exports to Canada, a member of the trade pact, climbed to $78 million during the first six months of the year, almost three times the total value for the whole of 2018.

While the Vietnam Steel Association attributed the increase in exports to the CPTPP, which effectively reduces tariffs on Vietnamese products to zero, and claimed Vietnamese steel exporters do not participate in tax evasion and dumping practices, Canada has started a process to make changes to trade defence measures.

Notably, Canada and the US have reached an agreement in which Canada is committed to preventing the import of unfairly subsidised or dumped steel, as well as transhipment – foreign steel that moves through either country to the other.

Against the backdrop of stricter defence measures, the Trade Remedies Authority of Việt Nam under the Ministry of Industry and Trade (MoIT) advised Vietnamese exporters to review and revise their production and export output to avoid potential anti-dumping and anti-subsidy investigations.

It also issued a warning to Vietnamese steel exporters to steer clear of and not support violations of product origin rules and trade fraud to avoid hurting the country’s trade and potential lawsuits.

A source from the MoIT said the ministry is handling seven trade defence-related cases since the beginning of the year with another seven from last year.

Phạm Thanh Nga from the Việt Nam Society of International Law said for the next three years after the CPTPP takes effect, Vietnamese businesses and products are to face increasingly rigorous trade defence measures.

“Countries may impose numerous defence instruments based on suggestions from their domestic producers,” Nga said

Commenting on the topic, minister of Industry and Trade Trần Tuấn Anh said businesses must take the initiative to conduct a comprehensive study of trade defence and safeguard measures, intellectual property right protection and technical barriers for their markets.

— VNS

The Ministry of Finance is building a draft scheme on the management of e-commerce activities for imports and exports.
The draft aims to improve State agencies’ efficiency in control of e-commerce activities to stop tax evasion, violations of regulations on commodities, intellectual property and origin, and transporting banned goods to Việt Nam and vice versa.
It also offers solutions to develop Việt Nam’s e-commerce activities, such as simplifying customs and specialised inspection procedures, aiming to protect the interests of manufacturers, traders and consumers.
However, due to limited human resources, time and funding, the draft focuses on solutions to control and facilitate trading on e-commerce trading floors or websites. The project does not cover sales on applications such as Zalo and Facebook.
Subjects of this plan include State management agencies related to e-commerce activities such as customs, tax, specialised management and e-commerce management agencies; buyers (organisations and individuals); salespeople; owners of e-commerce trading floors; enterprises transporting export and import goods; enterprises that are agents for e-commerce trading floors; e-commerce websites selling goods and services; and enterprises that are agents implementing customs clearance, reported ictnews.vn.
According to a report by Google and Singaporean investment management firm Temasek, the size of the Vietnamese e-commerce market will increase by 5.3 times in the next seven years from US$2.8 billion in 2018 to $15 billion in 2025.
Meanwhile, the Việt Nam E-commerce Association’s report on Vietnam E-commerce Index (EBI) in 2017-19 said the average annual growth rate of Việt Nam’s e-commerce market is from 25 per cent to 30 per cent.
If Việt Nam maintains this growth rate, the market size in 2025 will be ranked third in Southeast Asia, after Indonesia and Thailand.
Currently, Việt Nam has e-commerce platforms such as Lazada, Tiki, Shopee, Sendo, Adayroi and the growth rate of these sites is very high, with cross-border e-commerce activities increasing rapidly.
Therefore, management agencies need to change their approach to help develop the market.
E-commerce activities in Việt Nam are under the management of the Ministry of Industry and Trade and the Ministry of Finance. The Ministry of Industry and Trade manages licensing for e-commerce trading floors while the Ministry of Finance manages import and export taxes and control import and export goods via e-commerce platforms.
The scheme on management of e-commerce activities for import and export goods is under a programme to promote the National Single Window and ASEAN Single Window, reform the specialised inspection of import and export goods and facilitate trade activities in 2018-2020.

Bình Phước Province-based Đồng Phú Rubber Co (DPR) reported post-tax profit of VNĐ121 billion (US$5.2 million) in the first eight months of this year, 53 per cent of the year’s plan.

During the period, Đồng Phú Rubber, an affiliate of the Việt Nam Rubber Group, earned VNĐ343 billion in revenue, 47 per cent of the year’s target.

DPR recorded an eight-month yield of 5,000 tonnes, 41 per cent of the yearly plan. Consumption output reached 5,800 tonnes, 37.5 per cent of the goal.

At the 2019 Annual General Meeting of Shareholders held in April, the firm’s Board of Directors approved the plan for revenue and profit in 2019, respectively at VNĐ29 billion and VNĐ230 billion.

The board also signed off on the establishment of a wood processing plant with ​​estimated area of ​​4.5 hectares and investment of VNĐ60 billion, and the establishment of a high-tech agriculture project spanning some 496 hectares.

At the meeting, shareholders agreed on a plan to pay dividend in cash for the second phase of 2018 at a rate of 10 per cent, meaning a shareholder owing one share will receive VNĐ1,000, with an expected payout in October.

DPR’s share price has dropped significantly from its all-time peak of VNĐ47,200 per share recorded in early August. At the end of the August 30 session, DPR was traded at VNĐ40,900 per share, a decrease of 15 per cent within three weeks.

Read more at http://vietnamnews.vn/economy/534883/dong-phu-rubber-fulfils-half-of-profit-target.html#X4ZVAfUPvEaZAmrB.99

The country’s index of industrial production (IIP) saw a year-on-year increase of 9.5 per cent in the first eight months of 2019, a report from the General Statistics Office (GSO) shows.

GSO statisticians said the nation’s IIP ensured a stable growth since the beginning of this year.

According to the report, the processing and manufacturing sector recorded the largest IIP rise at 10.6 per cent.

It was followed by electricity production and distribution with IIP growth of 10.2 per cent while supply and waste treatment sector and mining rose by 7.4 per cent and 2.5 per cent, respectively.

Sectors posting a high industrial growth rate  were coke and refined petroleum products at 41 per cent; metal production at 40 per cent; metal ore mining at 19 per cent; rubber and plastic production at 15 per cent in addition to furniture at 12 per cent and weaving  at 11 per cent.

From January to August, a strong IIP rise was also seen in some major industrial products such as crude iron and steel (57 per cent); petroleum (43 per cent); television (23 per cent); liquefied petroleum gas (14 per cent) and handsets (11 per cent), as per the report.

The production of electronics, computers and optical products increased by a modest 4 per cent compared with 17 per cent recorded during the same period of 2018 beside to the manufacturing of mean of transport which saw a yearly IIP decline of 5 per cent.

As of August 1, the number of workers in industrial enterprises rose 1.7 per cent month on month and 1.5 per cent year on year. Job numbers in the State sector declined by 1.9 per cent while those at domestic private companies and foreign-invested firms edged up by 0.5 per cent and 2.5 per cent respectively.

In an eight-month period, the southern economic hub of HCM City also witnessed a year-on-year growth of 7.1 per cent in industrial production, according to the municipal Department of Industry and Trade.

However, the IIP of the city’s four key sectors – food processing, chemical–rubber-plastics, mechanics and electronics – saw an increase of 5.5 per cent, nearly one percentage point lower than the average rate of the whole industry sector.

Of the four key sectors, the electronics sector saw the highest growth rate of 24 per cent. The mechanical sector was up 9.4 per cent, while the chemical–rubber-plastics rose by 0.7 per cent and the food processing sector hiked by 0.4 per cent.

Nguyễn Phương Đông, deputy director of the department said the inventory index of the city’s processing and manufacturing in August rose remarkably by 53 per cent over the same month last year.

From now to the year-end, the department planned to organise fairs to help enterprises promote consumption of their products. Its officials would regularly meet with industry executives to address their difficulties in a timely manner.

Read more at http://vietnamnews.vn/economy/534858/industrial-production-up-95-this-year.html#wRdKl6rOjqDOAHMf.99

Việt Nam’s total revenues for retail trade and services reached an estimated  VNĐ3.21 quadrillion (US$137.4 billion) in the first eight months of 2019, up 11.5 per cent year on year, the General Statistics Office (GSO) has announced.

This positive growth proved the rising demand of local people, GSO statisticians have said, adding that if the price factor was excluded, purchasing power in the first seven months increased by 9.03 per cent, higher than the 8.9 per cent recorded in the same period of last year.

Retail sales of goods during the period were estimated at VNĐ$2.44 quadrillion ($104.9 billion), surging 12.5 per cent year on year or accounting for 76 per cent of the total revenue.

Among all sectors, purchases of educational and cultural products grew by 14 per cent year on year, followed by food and foodstuff (13.6 per cent), home appliances (11 per cent) and textiles and apparel (10.5 per cent) and transportation (8.5 per cent).

The localities with the highest purchasing power growth rates included Quảng Ninh (20 per cent); Bình Dương (18 per cent); Thanh Hóa (15 per cent); Hải Phòng (14.7 per cent) beside to Nghệ An and Bình Định (14 per cent) and Đà Nẵng (13.5 per cent). Meanwhile, two economic hubs of HCM City and Hà Nội lagged behind with respective growths of 13.3 per cent and 13 per cent.

According to GSO, revenue from accommodation and catering services rose 10 per cent year-on-year to nearly VNĐ386 trillion ($16.56 billion), making up 12 per cent of the total revenue.

During the same period, travel service revenues totaled VNĐ29.7 trillion (more than $1.27 billion), with Bình Định Province witnessing the largest increase at 19 per cent, followed by Thanh Hóa and Khánh Hòa at 15 per cent and 14.5 per cent respectively and HCM City at 13 per cent.

Revenues of other services were estimated at VNĐ355 trillion ($15.27 billion), 7 per cent higher than the same period last year.

According to the Vietnam Institute for Trade Research, the goods retail market is seeing a increase at mini marts and convenience stores.

The institute forecast that convenience stores would see double-digit growth in the next three years and reach 37.4 per cent growth in 2021.

Under the domestic trade development strategy, total sales of goods and services would grow by 13 per cent each year through 2020 and by 14 per cent per year in the 2021-25 period.

The Foreign Investment Agency’s statistics showed the wholesale and retail sector ranked third in attracting foreign direct investment in January-August period with total registered capital of $1.2 billion, accounting for 5.2 per cent of the country’s total FDI.

VNS

Vietnam is bound to play a key role in the upcoming rise of Southeast Asian economies and the country aims to reform its economy by raising its competitiveness and productivity by training human resources, mobilising funding, improving technology infrastructure, and constructing a professional innovation centre.

Given the significant and promising socio-economic growth of Vietnam in recent years, Hanoi Innovation Summit (August 29-30) aims to build a bridge between global leaders and Southeast Asia’s blooming innovation ecosystem, eyeing innovating for inclusion and sustainability in emerging economies.

The event takes place at the National Convention Centre, organised by Schoolab, a France-based innovation organisation, under the auspices of the Hanoi People’s Committee and the Ministry of Planning and Investment (MPI).

The summit welcomed over 3,000 delegates. On the side of Hanoi city is Hoang Trung Hai, Party Committee Secretary, Nguyen Duc Chung, chairman of the city People’s Committee, Minister of Planning and Investment Nguyen Chi Dung, and embassies of several countries in Hanoi. Many giant technology companies also joined hands to support the startup ecosystem such as Vintech, Microsoft, and Samsung.

Minister Nguyen Chi Dung spoke at the summit that completing the startup ecosystem is one of the government’s top priorities at the moment. The MPI is in the process of urgently finalising its startup strategy by the end of this year. This is the basis for localities to develop their strengths and take advantage of the opportunities from Industry 4.0.

The MPI will continue to expand the network to connect with Vietnamese experts working overseas to return home and contribute to the nation’s development. The establishment of the first national startup centre in Hanoi will also offer a gathering place for experts as well as promote innovation activities throughout the country.

Minister Nguyen Chi Dung also committed to accompanying the Hanoi People’s Committee and startup projects to solve problems during the process of creative startup in Vietnam.

The summit focuses on six themes: smart city, consumer tech, life science, environment, mobility, and the future of work. The event will bring together more than 100 prominent speakers, 150 startups, 200 corporates, and over 3,000 visitors with the deep involvement of the central government and Hanoi authorities.

In the main discussion section, chairman of the Hanoi People’s Committee Nguyen Duc Chung asked experts on international creative startups about methods to better promote the development of starup projects in Hanoi and methods to effectively connect Hanoi’s startups with similar projects in the world.

In response to these questions, Caitlin Wiesen, resident representative of the United Nations Development Program (UNDP) in Vietnam, said that Vietnam is having impressive growth as well as being very close to its sustainable development goals. Vietnam is also facing many challenges before the Fourth Industrial Revolution. To address these challenges, Vietnam needs to create an environment to support innovation, in which policies must focus on removing the difficulties of startups at the fastest pace.

On behalf of the Eurocham, vice chairman Nguyen Hai Minh lauded the innovative spirit of the Vietnamese government, thereby creating confidence for European investors, saying this all points to the capital market for startups in Vietnam being very promising and profitable.

However, the Vietnamese startup ecosystem is still new, he added, so many startup projects still lack experience about legal issues to connect with investment funds. Therefore, Vietnam needs new investor networks to provide more active support as well as impart experience for startup projects.

The Vietnamese government needs more specific activities when creating a platform for startups to connect directly with investors as well as offer tax incentives for startup investment, Hai Minh recommended.

Over the last three decades, Vietnam has ventured to enact far-going economic reforms. The huge emphasis on attracting foreign direct investment has paid off, and the influx of capital is by all comparisons impressive.

Johan Alvin

This, together with the fact that the country early on in its economic transformation embraced free trade as a vehicle for economic growth and prosperity, has developed Vietnam into an upcoming manufacturing hub in Southeast Asia.

The many free trade agreements (FTAs) have served to connect the Vietnamese economy to a number of economic areas, not least the ASEAN, South Korea, Russia and the 11 countries party to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

The latest addition to the long list of FTAs, the EU-Vietnam Free Trade Agreement (EVFTA) along with the connected Investment Protection Agreement (IPA) will create an important vehicle, if adequately implemented, for Vietnam to add more value to goods and services produced in the country.

Vietnam’s large number of FTAs also carry a more strategic importance. By balancing its economic relations, Vietnam creates a more robust nation, avoiding becoming too dependent on one trading partner. The EU and Vietnam, two of the strongest proponents of free trade in the world, have thus deepened their relationship. The signing of the EVFTA and IPA sends a signal to the world in favour of free trade and its merits. In a time when free trade is more often questioned, this signal should not be underestimated.

Sweden and Vietnam are two relatively small coastal countries dependent on global trade and international integration. Sweden, just like Vietnam, realised that trade, openness to the rest of the world, and multilateral co-operation are keys to prosperity. Sweden counts on Vietnam as a strong partner against the danger posed to the global economy by protectionist tendencies.

Coming from a nation whose economic prowess by large is dependent upon – and was created by – free trade, I look with concern upon the recent trends questioning the positives of free trade. In Sweden, 1.3 million Swedes go to work every day working in trade-related jobs – this, in a nation of just 10 million inhabitants.

Half of our GDP stems from trade. Around 150 years ago, Sweden was one of the poorest nations in Europe. One fifth of its population emigrated to the United States in the late 1800s due to the dire outlook for prosperity. By embracing free trade, making high-class education available for everyone, and implementing transparency and democracy, our nation has today become one of the richest countries in the world.

Defending the notion that free trade is good does not mean saying it is without flaws. But by signing FTAs with proper clauses safeguarding sustainability, labour issues, and intellectual property, this can be mitigated. The EVFTA is such an example. It is not flawless, but it is a modern and progressive FTA.

CHANGES NEEDED

Beyond the political signal being sent by signing the agreement, there lies great economic potential in the EVFTA and the IPA for both sides. For Vietnam, the potential is huge, the EU being its second-largest export market. Once the agreement has been ratified by the European Parliament, the work to harvest that potential will commence.

Companies from member states of the EU and from Vietnam need to increase understanding of the benefits that lies in the agreement, and subsequently use the provisions for economic gain. The EU Commission and the Vietnamese government are already engaging in capacity development for Vietnamese authorities on how to enact the provisions in the agreements.

Free trade comes with a demand to be flexible to change as a nation. In Sweden, we have had to go through a number of difficult but ultimately necessary changes when previously competitive sectors have run out of steam. Previously we had a big wharf industry as well as textile industry. When conditions for selling these products changed, mainly due to high cost of labour in Sweden, these industries became unviable, and structural changes in our economy became inevitable in order for Sweden to maintain its competitiveness. Hundreds of thousands of job opportunities vanished and new ones had to be created in other sectors. Re-education and education in general were a large part in enabling laid-off workers to find new jobs in often more knowledge-intensive sectors.

Vietnam will be facing similar challenges in the times to come. Some sectors will become less successful and others will grow. Vietnamese companies will need to further their productivity and improve standards to meet the requirements in the FTA. Workers, engineers, and software developers among others will all need to enhance skills and productivity. Cumbersome indeed at first, but it will no doubt be well worth the undertaking as they will become more competitive and help to grow the domestic economy while establishing Vietnam as a middle-income nation.

Vietnamese manufacturers of garments, shoes, and smart clothing will gain more beneficial access to the European market as tariffs are dropped immediately upon ratification. The trade and sustainable development chapter in the EVFTA will spur improved conditions for labour, which, as we have seen in other cases, will lead to increased productivity and, in turn, increased economic gains.

We will likely see a build-up of a garment industry with higher industrial know-how and competence. What will be needed is for regulating authorities and the Vietnamese government to be foresighted and enable these developments by creating as favourable conditions as possible.

The Vietnamese agricultural sector meanwhile will partially face new competition from European actors. The competition will, with proper management over time, lead to increased mechanisation, consolidation of ownership, higher yields, and increased value-adding in the agricultural sector.

To consumers from both sides, the EVFTA and the IPA is good news. It will bring about a better selection of goods and services with overall lower prices, increasing access to qualitative medicines, over time eliminating high import tariffs on cars, and allowing for more companies to compete for government procurement.

For companies gaining tariff-free access to a market of over 500 million Europeans, the benefits are equally big. To reap them, however, they need to improve corporate governance, take better care of the environment, and improve labour conditions. Those companies that will be able to adopt quickly will be highly successful.

BOON FOR BUSINESS

A more transparent and predictable environment for doing business as well as lower administrative burdens will make it possible for small- and medium-sized enterprises (SMEs) to move into the Vietnamese market.

For instance, Sweden, which is one of the most innovative countries in the world, is home to a host of SMEs thriving on innovation. Many of these are keen to internationalise their operations, and several are interestingly eyeing the Vietnamese market. These Swedish innovators have the potential to partner up with growing domestic companies and jointly grow the Vietnamese economy.

The EVFTA and IPA will serve to lower the overall risk and lead to more Swedish and European SMEs, as well as multinationals, partnering with Vietnamese companies – increasing economic growth and creating jobs while improving Vietnamese-made products.

This is very much welcome as we see the need to develop the domestic economy in Vietnam, and in this lies vast potential. In the longer run, we will also see more and more Vietnamese companies mature and invest in the European Union.

A recent study by the Swedish National Board of Trade showed that the average FTA over a 10-year period leads to an increase in bilateral trade of approximately 100 per cent. With a history of bold reforms to enact a market-driven economy and a population of entrepreneurial people, Vietnam stands a good chance to be a leading economy in Southeast Asia if it continues with the same boldness and hard work.

Trade relations between Vietnam and the EU have a bright future indeed – to the benefit of both European and Vietnamese citizens.

The Mekong Delta has so far harvested about two-thirds of its 1.57 million hectares of rice with an average yield of 5.7 tonnes per hectare, up 100 kg compared to last year’s same crop, said Le Thanh Tung, deputy head of the MARD’s Department of Crop Production.

The growth is more than enough to offset the falling output of the last summer-autumn harvest, estimated at around 50,000 tonnes, he added.

The harvest of this season’s entire rice area is expected to be completed in early September and to date, there has been no report on effects of drought or saline intrusion.

Tung noted that the harvest work of the summer-autumn crop is being favoured by low water and rainfall levels which pose no threat of flooding.

As the country struggles to secure orders for the grain in the second half of the year due to a drop in demand from major importers, rice is being sold 200 VND per kg higher than the last winter-spring crop but 1,000 – 1,200 VND per kg lower than the price of the same period last year.

This price gives farmers a profit margin of 30 percent which is still much lower than that of 2018.

To keep this year’s output stable or higher than last year, the Ministry of Agriculture and Rural Development have recommended the Mekong Delta cities and provinces to expand the next autumn-winter crop by 4,000 hectares to about 750,000 hectares.

According to the General Department of Customs, Vietnam’s rice exports reached 2.76 million tonnes in the first five months of this year, down 6.3 percent from a year earlier. The country earned 1.18 billion USD worth of exports in the period, a decline of 20.4 percent over the same period last year.

Vietnamese rice products, the country’s key export item, are shipped to 150 countries and territories, including the Philippines, Malaysia, Indonesia, mainland China, Cuba, Hong Kong, Singapore, Iraq, Ivory Coast, Ghana and Mozambique.

The rise of FDI in Vietnam, driven by new free trade agreements and the US-China trade war, has generated greater demand for production workshops and storehouses in the country, and promises high profits for local industrial park developers.

Despite the 15.8 percent rental rate hike in the second quarter of this year, the Vietnamese industrial park market still has high demand thanks to the strong growth of foreign manufacturers.

According to reports from the Ministry of Planning and Investment, in the first six months of 2019, industrial parks and economic zones across the country have attracted about 340 FDI projects with a total newly registered capital of about US$8.7 billion.

Up to now, the total number of FDI projects invested in Vietnam has reached about 8,900 with a total registered capital of US$186 billion.

Vietnam’s industrial parks cover a total natural land area of approximately 95,500 ha, of which industrial land reaches about 65,600 ha, accounting for about 68.7 percent. In addition to 251 industrial parks in operation, 75 remaining ones are in the stage of compensation, site clearance and construction with a total area of about 29,300 ha.

As a result, higher foreign investment means better opportunities for local industrial zone developers. Business performance and shares at industrial zone developers such as Kinh Bac City Development Holding Corp (KBC), Nam Tan Uyen Joint Stock Corporation (NTC) and Investment and Industrial Development Corporation (BCM) have increased sharply year to date.

KBC’s H1 2019 financial statement reflected the positive prospect of the firm’s real estate business segment. The company’s revenue and after-tax profit reached VND1.57 trillion (US$66.8 million) and VND511 billion, up 56 percent and 76 percent year-on-year, respectively. Of the total, land rental revenue accounted for nearly VND1.4 trillion, accounting for 87 percent.

In the stock market, KBC shares are also being traded positively at around VND15,000 apiece. Its trading volume at 10 sessions averaged at over 3.1 million shares. Recently, Ho Chi Minh City Securities Corporation (HSC) also recommended buy for KBC shares.

The same move was seen with NTC, which gained nearly VND100,000 per share to VND193,500 in the past three months. The rise was given by the firm’s positive business performance results in the first half of this year. NTC’s after-tax profit in H1 2019 rose by 48.76 percent year-on-year to VND130.5 billion.

Meanwhile, BCM also announced revenue of VND3.38 trillion and after-tax profit of VND1.32 trillion in H1 2019, up 12 percent and 34.4 percent year-on-year, respectively.

Favorable conditions support

 According to Stephen Wyatt, general director of property consultancy company Jones Lang Lasalle (JLL) Vietnam, the US-China trade war is not the only cause for the strong development of Vietnam’s industrial sector.

In fact, he said, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) agreements showed that Vietnam always strives for international integration, bringing many opportunities and motivation for the country to improve its business environment.

Vietnam is one of the most attractive destinations for the industrial sector in Southeast Asia and JLL expects that the trend will continue in the second half of 2019 and interest from foreign investors in Vietnam will remain strong.

Experts forecast that high growth prospects of industrial zone developers and their shares will continue next years.

Analysts from BIDV Securities Company (BSC) said that Vietnam’s industrial parks will continue to benefit from the trade war and the EVFTA. Along with that, the land rental rates will increase by 7-15 percent yearly on average, which will continually bring big cash flows for industrial zone developers in the coming time.

A report released late this week by the Ministry of Industry and Trade said online sales of counterfeit goods remained a problem despite 35,900 fake and illegal products being removed from e-commerce websites as of last year.

Over 3,000 seller accounts have been blocked for selling these items, it added.

“The sale of fake, illegally imported and banned items is widespread on e-commerce websites and social networks such as Facebook and YouTube. This is causing distrust among consumers,” Tran Huu Linh, deputy head of the Vietnam Directorate of Market Surveillance, said at a Friday meeting.

Sellers usually advertise fake products with images of real products and offer lower prices, Linh said, adding that this particularly happens with cosmetics and functional foods.

Sellers have one trading address but keep their goods at multiple locations, making it harder for authorities to examine them, he added.

“Some trading locations are in apartment buildings, which require search warrants, delaying the investigation.”

Online transactions usually do not have bills, therefore investigating the source of the counterfeit foods is a challenge, he added.

Dang Hoang Hai, head of the Vietnam e-Commerce and Digital Economy Agency (iDEA), said that fraudsters use multiple tricks to avoid being discovered, for example listing the product as “N.I.K.E” instead of “Nike.”

Some have servers placed in another country and website domains bought through a foreign service without any real address and phone numbers to contact in Vietnam, Hai said.

The technical capability and skills of officers in the agency have not caught up with fast-developing technologies to identify fraudsters, he added.

Minister of Industry and Trade Tran Tuan Anh proposed making changes in the law that will require online channels to manage their products and prevent counterfeiting.

Buying via online shopping channels and social networks has become increasing popular in Vietnam in recent years. Online sales in Vietnam last year rose by 30 percent over 2017 to top $8 billion, accounting for 5 percent of retail sales, according to the trade ministry.

Nguyen Hoai Nam, Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the move would allow firms to directly export their goods.

Most of the Mekong Delta’s export turnover is made up of rice and processed seafood products. Every year, the region’s transportation demand for export goods is about 17-18 million tonnes. However, 70 percent of export products have to be transferred to major ports in HCM City and Cai Mep port (Ba Ria – Vung Tau province), increasing transportation by 10-40 percent depending on the route.

This situation leads to frequent overloads on the connecting routes from HCM City to Mekong Delta provinces. In addition, transport service quality is poor, costs are high and there is a lack of links between different modes of transport.

As one of the largest frozen shrimp exporters in the world, Minh Phu Seafood Joint Stock Company annually exports about 6,700-7,000 shrimp containers with a turnover of 750 – 850 million USD.

Chu Van An, Deputy General Director of Minh Phu Seafood, said if there was a more suitable logistics service, goods could be exported directly from the Mekong Delta and businesses could save 30-40 percent of their costs, which would increase the competitiveness of agricultural products.

Focused investment in regional transport infrastructure would help tackle the problem, with waterways investment the best option due to the area’s terrain.

A representative of Ca Mau province’s Transport Department urged prioritising investment in inland waterways that are connected with road traffic to enhance transport capacity throughout the region, and to exploit the waterway system linking HCM City with other provinces and cities in the region.

The Ministry of Transport said that it will study and implement a dredging project and renovate Khai Doc Phu Hien canal connecting the Tien and Hau rivers to shorten the transport distance between Can Tho port and the seaport in the southeast.

The ministry also plans to upgrade inland waterway routes such as HCM City to Kien Luong and HCM City to Ca Mau. It will also focus on improving the transportation infrastructure system, reducing congestion on main waterways and cutting the cost of transporting goods from manufacturers to consumers, Minister of Transport Nguyen Van The said.

According to Nam, there is a lack of seaports in the delta, especially deep-water ports capable of handling export container ships.

Meanwhile, goods being stuck at ports and overloads at some key ports in the southeast region occur regularly, allowing shipping enterprises to increase service charges and wasting businesses’ warehouse costs and time.

An Giang province is a big exporter and processor of seafood, but difficulties in transport infrastructure have affected the development of enterprises.

As a unit specialising in raising and processing tra fish and basa fish for export, Nguyen Anh Thu, Deputy General Director of An My Fish Joint Stock Company, said the province’s transport system lacks synchronisation. This has caused  difficulties and increased costs for businesses as goods cannot be transported by container trucks but must be carried by small trucks.

It is forecast that the transportation demand for the region’s rice by 2020 will be about 10.2 million tonnes and aquaculture output will be about 2.42 million tonnes.

This shows the logistics market of the Mekong Delta has potential to develop and attract investors, according to Nguyen Minh Toai, Director of Can Tho city’s Department of Industry and Trade.

He said developing logistics services and building a regional level logistics centre was an urgent need.

To meet demand for import and export of regional goods, the Ministry of Transport asks the Prime Minister for approval to adjust planning for Soc Trang and Tran De seaports to seek investment and form a gateway seaport to receive vessels of up to 100,000 tonnes.

Besides, the ministry proposed the Government and the National Assembly approve the allocation of capital to upgrade the second phase of Cho Gao canal and complete investment procedures for the southern region waterways and transport logistics corridor project with loans from the World Bank.

The General Department of Vietnam Customs noted that during the first half of August, the country’s cashew nut exports reached 21,500 tons, worth a total of US$146.2 million, representing a 10.1 per cent increase in volume and a rise of 9.3 per cent in value in comparison with the same period last month.

Since the beginning the year, cashew nut exports hit 261,200 tons, worth US$1.936 billion, a surge of 17.6 per cent in volume and a drop of 8.2 per cent in value compared to the same period last year.

The average export price of cashew nuts during the first half of August fell by 0.8 per cent to US$6,812 per ton in comparison with the same period last month. The average export price has fallen 21.9 per cent to US$7,415 per ton since the beginning of the year.

During the remaining months of 2019, the demand for cashew nuts in the global market is expected to rise with the cashew sector targeting the export of 450,000 tons of cashew during the year, according to Vinacas.

Experts have concluded that due to low export prices, the global demand for cashew nuts is forecast to increase in the short term, higher than the set target of 10 per cent.

Vinacas President Nguyen Van Cong believes that the price of cashew nuts is likely to rebound later this year with the world’s consumption demand for the food item projected to rise during the year’s fourth quarter.

Vinacas said the cashew industry is likely to face a number of challenges of processing and trading cashew nuts in the future due to stricter requirements being implemented by importing countries.

Most notably, demanding markets such as the United States and EU have announced that they are to apply additional food safety standards and inspect chemical residues on exports to their market.

The association also warned local cashew businesses about the need to further step up production and processing activities in a bid to supply their products to supermarkets in order to stabilize market prices.

With the escalating trade tensions, the global financial and monetary market is moving into a period of increasing risks during the remainder of the year. If the US-China trade frictions remain unresolved, fluctuations could continue to shake the financial market.

China has depreciated its currency to 7.04 yuan to 1 USD in an attempt to curb the negative impacts caused by the US tariffs levied on Chinese exports to the US.

A currency war could break out if economies continue to devalue their currency and lower interest rates. This would drag them into stagnation and then leading to a global crisis.

If yuan depreciation is kept on, it will put additional pressures on the Vietnamese dong (VND), making Chinese exports to Vietnam becoming cheaper, and worsening the latter’s trade deficit with the neighboring country.

Nguyen Tri Hieu, a financial expert, assumes that the devaluation of VND should stand at a rate of 3 per cent. Indeed, the level of VND devaluation remains moderate, meaning that there is plenty of room to depreciate VND in order to negate adverse impacts sourced by yuan depreciation.

However, the depreciation of VND could harm the local securities market as it could raise concerns among investors.

Since the beginning of the year, the financial market has absorbed a large amount of foreign capital inflows. If VND is devalued deeply, this will have a widespread influence on investment activities.

“There has been no phenomenon of moving cash flows from the securities or banking sectors to the gold market. But high gold prices may result in speculations and an investment shift”, Hieu noted.

Vietnam is regarded as a beneficiary from the US-China trade war. Indeed, many investors have planned to move their production facilities from China to Southeast Asian countries, including Vietnam. Tight control should be applied to stop the possibility that the production facilities ship Chinese goods to the Vietnamese market and have them relabeled as made-in-Vietnam products before being exported to the US.

Hieu suggested that amid soaring FDI inflows into the Vietnamese market, the Government should become more selective when choosing such investments in accordance with the overall economic development strategy.

HÀ NỘI — Fourteen months before electronic invoicing will be made mandatory in Việt Nam, which is set for November 1, 2020, there is still much work for the Government to do. Among the most crucial tasks to be completed is providing businesses with guidelines on how to issue and use e-invoices and across-the-board implementation among key State agencies such as the Tax Department, the State Treasury, the Vietnam Directorate of Market Surveillance and insurers.

The absence of guidelines and lack of co-operation among State agencies have proven to be a major hurdle for business to completely switch to e-invoices. For example, while the tax authorities encourage business to switch to using e-invoices they may not be accepted at the State Treasury or by insurers, said BKAV head of corporate client department Nguyễn Khơ Din. The company is a leading Vietnamese firm in the field of cyber-security, software and e-solutions for governments.

“Without guidelines, businesses currently have many questions over how to issue e-invoices, including small details such as what date to issue them, whose signature to include or whether it is necessary to include a signature,” Din said.
He said Government agencies must quickly lay down a roadmap with all the tasks for businesses to complete from now until 2020 to ensure a smooth implementation of e-invoices on a national scale.

It’s also more complicated to correct mistakes made in e-invoices compared to traditional paper invoices.
“Businesses used to just issue another invoice to replace one with mistakes. With e-invoices they will have to issue separate adjustments for each mistake made in the original,” said Nguyễn Hoài Hương from the Defence Economic Technical Industry Corporation.
This, in turn, would create further problems for their customers when they need to file those in other transactions, she added.
Mạc Quoc Anh, deputy director of the Hà Nội SME Association stressed the need to create a different policy for SMEs and traditional family businesses. He said such economic enterprises often faced severe financial and infrastructure limitations, which might make it very difficult for them to adopt e-invoices.

While experts had pointed out that e-invoices would help businesses significantly cut costs and speed up transactions, Anh said many SMEs would still need convincing to make the switch to using e-invoices. He urged for more effort to be put in raising awareness about e-invoices and their economic benefits among small business owners.

VNS