16:32 (GMT +7) - Sunday 27/09/2020


December 5

Released at: 11:56, 05/12/2017 PRESS WATCH

December 5

VET's round-up of news from Vietnamese media for December 5.

Expected 2018 wage growth Asia-Pacific’s third highest

Vietnam has been ranked as having the third-highest expected wage growth in Asia-Pacific in 2018. According to Mercer, Bangladesh and India are expected to have the highest-growing wages in the region next year, with a 10 per cent increase, primarily because the inflation rate in the two countries is higher than in developed countries. Nominal wages in Vietnam are estimated to increase at a rate of about 9 per cent, followed by China with 6 per cent, and Singapore and Hong Kong 3.9 per cent, while Japan has the lowest wage growth, of 2 per cent.

FPT to list on HoSE in April

FPT Retail has announced it will list on the Ho Chi Minh Stock Exchange (HoSE) in late April next year. Mr. Nguyen Viet Anh, Deputy General Director, said the company will focus on developing its existing brands, including FPT Shop and F.Studio by FPT, and at the same time expand operations. FPT Retail has plans to open 100 stores selling the full line of Apple products such as iPhone, iPad, Macbook, and Apple Watch. The company will coordinate with mobile network operators to offer the F-Friends program, which accepts installment payments, and promotional mobile packages for buyers.

Deals with Ontario announced

Ms. Kathleen Wynne, Premier of Ontario in Canada, has announced 14 agreements between organizations in Vietnam and Ontario worth almost $25 million. For the first time, a delegation of 60 people led by Premier Wynne paid a working visit to Vietnam recently. Delegates cover a wide range of sectors, from agri-food and world-class research institutions to innovative businesses and the tech community. Vietnamese institutions and companies inked a number of deals with their counterparts from Ontario to tighten up cooperation in Vietnam. The Costcovn Import Export Co., for example, signed an agreement with Ontario’s Ownace International Group Inc. to sell and distribute Canadian-grown specialty grains and other food products in Vietnam.

Auto parts imports subject to zero duties

Imports of auto parts will enjoy a duty of zero next year as stated in Government Decree No. 125/2017/ND-CP. Benefiting from the preferential tax policy are auto manufacturers and assemblers who satisfy the government’s requirements for auto production, assembly, import, and trading. Enterprises have to ensure that the autos they manufacture and assemble meet Euro 4 emission standards in 2018-2019 and Euro 5 standards from 2022 onwards. If enterprises meet preferential tax requirements and make tax payments for already imported auto parts higher than required, Vietnam Customs will refund the surplus in accordance with the law on tax management and guiding documents. Where enterprises are disqualified from the preferential tax program, they will be informed by Vietnam Customs.

PM attends opening of LG Display plant in Hai Phong

Prime Minister Nguyen Xuan Phuc attended the opening ceremonies for the Nguyen Binh Khiem bypass and LG Display Viet Nam Hai Phong on December 4 in Hai Phong. Construction of the LG Display project began in May 2016 with total investment of over $1.5 billion, specializing in producing and manufacturing OLED for mobile phones, smart watches, and tablets. This was the first modern screen technology project LG Display has invested in outside of South Korea. It was also the second largest project of the group since it set foot in Vietnam in 2013. The project is expected to generate 6,000 jobs for local residents.

Vietnam elected to board of Asian Coffee Association

Vietnam has been officially elected as a member of the management board of the Asian Coffee Association (ACA). ACA members can exchange information and resources and the ACA welcomes collaboration from countries both inside and outside of the region. The association was officially established on November 27 in Mangshi city, the capital of the Dehong autonomous prefecture in China’s Yunnan province. Other board members are China, South Korea, Japan, Myanmar, Malaysia, Thailand, Indonesia, India, Nepal, Sri Lanka, Saudi Arabia, and Turkey.

Swiss airline to conduct seasonal Zurich - HCMC flights

Swiss leisure airline Edelweiss, an affiliate of Swiss International Airlines, will open seasonal direct flights from Zurich to Ho Chi Minh City as part of its plan to expand its flight network in Asia. Edelweiss will launch direct flights linking the two cities twice a week using A340-300 aircraft, starting from November 15, 2018. CEO of Edelweiss Bernd Bauer said the airline hopes to carry about 10,500 passengers to Ho Chi Minh City a year, raking in $32 million. Besides bringing tourists from Switzerland and Europe to Vietnam, the new route is expected to create favorable conditions for passengers to travel from Ho Chi Minh City to European destinations within Swiss International Airlines’ network.

User comment (0)

Send comment