Vietnam Update: Draft Proposal on Tax Management Law Revisions Calls for Cross-border E-commerce Tax

Vietnam Update | December 6, 2017
Authors: Hai Pham, Jade Hoang
 
LOOKING AHEAD
 
 

Roundtable with H.E. Nguyen Thien Nhan, HCMC Secretary

The Council is organizing a roundtable with H.E. Nguyen Thien Nhan, Secretary of the Ho Chi Minh City (HCMC) Party Committee in Washington, D.C. on Thursday, December 14. Secretary Nhan, who is also currently a Politburo member, previously served as Chairman of the Vietnamese Fatherland Front, Deputy Prime Minister of Vietnam, and Minister of Education. Secretary Nhan will be joined by Ambassador Pham Quang Vinh, Vietnam Ambassador to the U.S, as well as senior government officials and HCMC business executives from the delegation. Seating will be limited for this event. Members should contact Hai Pham at hpham@usasean.org for more information or to express interest.

 
THE COUNCIL'S TAKE
 
 

Vietnam’s Draft Proposal on Tax Management Law Revisions Calls for Cross-border E-commerce Tax 

As part of their effort to overhaul the country’s tax system, the Vietnamese Ministry of Finance (MOF) recently submitted to the Government of Vietnam (GOV) a new Draft Proposal to amend the Law on Tax Management (English | Vietnamese). The proposed changes to the Law can be seen in this outline in English and Vietnamese. The Draft Proposal includes a new provision on e-commerce activities (Article 28.1), specifically with regards to tax collection on cross-border transactions. These revisions are meant to help local tax authorities control revenue made by foreign service providers in Vietnam and provide a legal framework for tax collection on commercial digital transactions. However, they also appear burdensome to comply with. The Proposal does not detail a comprehensive solution on cross-border taxation but requests better coordination from other relevant ministries to support the MOF in this effort. Notable provisions include:

  • The State Bank of Vietnam to require that foreign service providers process payments made by Vietnamese users via the domestic payment gateway run by the National Payment Corporation of Vietnam (NAPAS);
  • Cross-border service providers to set up representative offices and local servers within Vietnam to better coordinate with Vietnamese authorities;
  • The Ministry of Information and Communications, in coordination with the MOF, to request foreign service providers to declare and pay the contractor’s tax on services provided to organizations and individuals in Vietnam;
  • Competent authorities to coordinate and exchange information with other countries’ tax authorities and Internet service providers, in order to obtain the volume and value of e-commerce transactions and bank payments;
  • Value Added Tax (VAT) and Personal Income Tax (PIT) to be applied at a fixed rate to online goods of over VND 1 million, and online goods of under VND 1 million but that are bought twice a day or more.

The Draft revised Law on Tax Management will take around one year to make it to the National Assembly (NA) and is expected to be voted in late 2018 or early 2019. On December 5, the Vietnam Chamber of Commerce and Industry (VCCI), in coordination with the Vietnam Tax Consultants Association (VTCA), hosted a consultation seminar to gather comments on this Draft Proposal. During this session, the drafting team expressed their intention to regulate tax for new types of transactions and admitted that more research is being done and that the provisions in this Draft Proposal are not final. Comments submitted by members were raised during the seminar and received by the MOF drafting team. In addition, local stakeholders also expressed concerns about other provisions of the proposal such as social insurance tax authority and the merge of tax forms and financial statements.

The Council has also been actively engaging the GOV on a separate Draft Proposal to revise 5 tax laws that affect the operations of members in Vietnam. The changes were delayed for further revision at this year’s National Assembly meeting, but will be resubmitted for review and debate in the NA’s 6th session in November 2018 and endorsement in the NA’s 7th session in May 2019. If approved, they would be enacted on either Jan 1, 2020 or July 1, 2020.

Moving forward, the Council will design a comprehensive program to engage the GOV on all tax laws and regulations in 2018. We will present this proposal to the GOV during our annual Business Mission to Vietnam in March 2018. For comments or questions, please contact Vu Tu Thanh at tvu@usasean.org.

Vietnam’s Ministry of Health Proposes Reducing Food Safety Red Tape

Vietnam’s Ministry of Health (MOH) has recently proposed measures to reduce and simplify administrative procedures in food safety management, in a continued effort to overhaul its system and increase efficiency for local and international food enterprises. Deputy Director of MOH’s Vietnam Food Administration Tran Viet Nga announced on November 14 a proposal to cut five groups of procedures: food production and trading conditions; food product announcement and inspection; certification on food safety standards; food advertisement; and food safety knowledge certification. “If the proposal is approved, the time on verifying food certificates would be reduced from six to three days for food imports,” Nga said. Notable proposed revisions include:

  • Reduction of 8 out of 50 food production and trading conditions under Decree 67/2016 ND-CP, of which five are for food producers and three are for food traders;
  • Amendment of three administrative procedures on food product announcements under Decree 38/2012/ND-CP, which includes provisions on food safety;
  • Simplification of business licenses and registration certifications for food importers for the purpose of inspection and quality control;
  • Streamlining inspection procedures of imported foods across the MOH, the Ministry of Industry and Trade, and the Ministry of Agriculture and Rural Development;
  • Requirement for Customs authorities to annually inspect a maximum of 5% of imported products that have already been grated food safety licenses by exporting countries with existing agreements or standards recognized by Vietnam

The MOH has  launched its online public services to expedite the registration process for enterprises involved in the health care sector. Companies can now submit required forms, handle documents and payments through the online service with reduced time and expenses. This platform is meant to better help trading and food production companies in applying for certifications on food safety regulations and conditions. It also offers greater access and transparency for public services and health administrative management in Vietnam.

 
ADVOCACY UPDATE
 
 

Draft Revised Tax Management Law

As part of their effort to overhaul the country’s tax system, the Vietnamese Ministry of Finance (MOF) recently submitted to the Government of Vietnam (GOV) a new Draft Proposal to amend the Law on Tax Management (English | Vietnamese). The proposed changes to the Law can be seen in this outline in English and Vietnamese. The Draft revised Law on Tax Management will take around one year to make it to the National Assembly (NA) and is expected to be voted in late 2018 or early 2019.

On December 5, the Vietnam Chamber of Commerce and Industry (VCCI), in coordination with the Vietnam Tax Consultants Association (VTCA), hosted a consultation seminar to gather comments on this Draft Proposal. During this session, the drafting team expressed their intention to regulate tax for new types of transactions and admitted that more research is being done and that the provisions in this Draft Proposal are not final. Comments submitted by members were raised during the seminar and received by the MOF drafting team. In addition, local stakeholders also expressed concerns about other provisions of the proposal such as social insurance tax authority and the merge of tax forms and financial statements. For comments or questions, please contact Vu Tu Thanh at tvu@usasean.org.

Draft Decree to Revise Decree 140 on Logistics

The Council has been monitoring the draft decree to revise Decree 140/2007/ND-CP ("Decree 140") regarding regulations on logistics services. Most notably, this draft decree would allow for 100 percent foreign investment in three logistics service areas - trade forwarding, warehousing, and fast delivery services. This change is in line with Vietnam's WTO commitments. The draft decree is currently pending and is available here (Vietnamese). If you are interested in engaging the GOV on this draft decree, please contact Vu Tu Thanh at tvu@usasean.org

Decree 36 on Medical Devices

This month, the Council has been engaged with Vietnam's Department of Medical Equipment and Construction (DMEC) under the Ministry of Health (MOH) on the implementation of Decree 36/2016/ND-CP regarding medical device management. While Decree 36 is an important step towards harmonization of ASEAN Medical Device regulations and removing barriers to trade, the regulatory framework of Decree 36 is robust and due to resource constraints, the recent progress has been encumbered by the large volume of applicants, and as such, the registration for Class B, C and D medical devices may not be completed by January 2018 as planned.

On November 14, the Council sent a letter on behalf of our members to the Office of the Government to offer a solution, proposing to extend the transition phase to one year (in line with the steps taken by other ASEAN member states) in order to ensure the seamless completion of approvals without interrupting the supply of medical devices and materials essential to patients' treatment. This week, we received word from the DMEC that the GOV has approved the proposal to extend the transition period by one year - we are now waiting for an official and legal written directive. Following this resolution, the Ministry of Health will then issue an instruction to extend the transition period by one year, during which time all medical device registrations will follow the existing rules.

 
IN THIS UPDATE
 
 
Multilateral Trade Agreements
Vietnam, EU seek to accelerate FTA signing

Regional Affairs
Vietnam, Argentina seek ways to enhance business connectivity
Vietnam, Saudi Arabia step up labour cooperation
ASEF to boost co-operation in dealing with new challenges
Laos’ 42nd National Day celebrated in Việt Nam
​Vietnam, Poland to boost cooperation between businesses
​Philippines’ Duterte oversees repatriation of Vietnamese fishermen
Deputy PM assures Vietnam's wish to boost ties with Slovakia
NA leader's Australia visit to boost comprehensive partnership
Vietnam, Singapore look towards stronger strategic partnership

National Affairs
Vietnam prosecutes bank officials in corruption crackdown

ASEAN
Vietnam condoles on former ASEAN Secretary General's death

Customs
ASW is expected to be officially operated by January 2018
New preferential import and export tariff nomenclature will take effect by 1 January, 2018
Shortcomings on specialized inspections are continuously reported to the Government
Nearly 100% of enterprises in Hanoi declare tax via online
AEOs are prioritized tax payment deadline for taxes related to imported and exported goods
Why is the administrative procedure in the field of health slowly deployed?
Who is permitted to access the e customs data processing system?

Defense & Security
International cooperation strengthened for East Sea peace, stability
Vietnam, China to conduct joint patrol in Tonkin Gulf
Vietnam concerned about DPRK’s missile test
​Malaysian royal naval vessels visit Ho Chi Minh City

Economics
Vietnam seeks higher-quality FDI: experts

Energy
Security lax at radio-active installations
145 options proposed for greenhouse gas mitigation
​Vietnam raises power price by 6.08 percent
​Vietnam's PV Oil plans Jan IPO that aims to raise at least $92 mln
Việt Nam solar power to be discussed at Future of Energy Summit
VN’s first station for electric vehicles opens in Da Nang

Financial Services
Fintech sees strong rise in Vietnam
Sacombank offers $132 mil credit package to household businesses, small traders
Mobile payments boom, but not in Vietnam
Uber signs partnership with Vietnam's leading e-wallet firm
E-logistics race spurs deliverers
Vietnamese fintech market looking at bright prospects

Food & Agriculture
Remote sensing technology mitigates risks in agricultural production
VN yet to sow seeds of low carbon rice
Ministry takes action in response to EU’s warning of IUU fishing
US approves fresh mango imports from Vietnam
Coffee supply steady in Vietnam, Indonesia premium rises
ADB helps Viet Nam promote inclusive flower production
Mini-marts disrupt food industry
Sugar companies want to extend protection period
​Vietnam’s seafood exports forecast to hit record high in 2017
Vietnam acts to ensure food security amidst climate change
Việt Nam’s fruit imports from South Korea surge
​Vietnam brewer Sabeco gets strong response at Singapore investor roadshow: chairman
China makes up three-fourths of Vietnam’s vegetable, fruit exports
Vietnam’s instant noodle giants
Exploring opportunities for inclusive agricultural development in Vietnam
Vietnam's local coffee prices drop, Indonesia premium tightens

Health & Life Sciences
Innovation in medical-ed highlighted
Iodine-enriched ‘3 Mien Bouillon’ contributes to iodine deficiency prevention in Vietnam

ICT
Top tech university gains Vietnam’s first AUN-QA accreditation
Vietnamese businesses fear future ransomware attacks
Internet of Things to drive VN’s digital future
VN needs tech updates to remain competitive: experts
Cybersecurity regulations to cause massive hit to IT firms

Manufacturing
​Vietnam among two slowest-selling automotive markets in ASEAN: report
Samsung vows more support for Vietnamese firms to enter its supply chain
Footwear exports enjoy 13% rise during Jan-Oct
 
ARTICLE CLIPS
 
 
Multilateral Trade Agreements

Vietnam, EU seek to accelerate FTA signing VOV 4th Dec 2017
Minister of Industry and Trade Tran Tuan Anh had a working session with European Union (EU) officials to foster economic and trade cooperation and settle existing problems, thus speeding up the signing and ratification of a free trade agreement (FTA) between the bloc and Vietnam. In a meeting between Anh and European Commissioner for Trade Cecilia Malstrom, the two sides agreed to continue efforts to reach consensus on the deal. They will work to re-structure the agreement to suit the proposal to separate the investor-state dispute settlement (ISDS) issues to a new deal apart from the FTA, as the EU uses separate procedures to settle disputes than to ratify FTAs. Anh said that both sides also discussed solutions to finalise the agreement in early 2018

Regional Affairs

Vietnam, Argentina seek ways to enhance business connectivity VOV 1st Dec 2017
Vietnam is viewed as a lucrative market for Argentinean businesses to have easier access to Vietnam’s export products, thereby providing a wealth of opportunities for businesses from both nations to increase connectivity and bilateral trade exchanges. The remarks were shared by Vietnamese and Argentinean entrepreneurs at a program in Hanoi on December 1 to examine ways to further enhance bilateral trade links. The program saw the participation of 12 leading Argentinean farm produce businesses, and representatives from the Argentine Embassy in Vietnam, the Ho Chi Minh City’s Investment & Trade Promotion Centre, and the Vietnam Trade Promotion Agency.

Vietnam, Saudi Arabia step up labour cooperation VOV 1st Dec 2017
Vietnam and Saudi Arabia have agreed to establish a channel to receive information and settle disputes between Vietnamese labourers and employers in the Middle Eastern country. The information was heard at a recent meeting in Saudi Arabia between Vietnam’s Ministry of Labour, Invalids and Social Affairs and Saudi Arabia’s Ministry of Labour and Social Development. The channel will monitor Vietnamese businesses and Saudi Arabian labour brokerage firms to improve worker quality, provide necessary knowledge for workers before going overseas while ensuring legal rights and benefits for labourers in Saudi Arabia.

ASEF to boost co-operation in dealing with new challenges Vietnamnews 1st Dec 2017
Việt Nam has been one of the most dynamic and active members of the Asia-Europe Foundation (ASEF), hosting as many as 50 of its events since its establishment 20 years ago, an official said on Thursday. ASEF was established in February 1997 by partners of the Asia-Europe Meeting (ASEM). The country remains strongly committed to the Asia-Europe partnership and the foundation’s unique role in promoting mutual understanding between our people, said Nguyễn Nguyệt Nga, ASEF Governor for Việt Nam.

Laos’ 42nd National Day celebrated in Việt Nam Vietnamnews 1st Dec 2017
The HCM City Union of Friendship Organisations (HCMUFO) and the Việt Nam-Laos Friendship Association in the city on Thursday held a ceremony to mark the 42nd anniversary of Laos’ National Day (December 2). Addressing the event, HCMUFO Vice President Nguyễn Văn Mạnh highlighted the neighbourliness and solidarity between Việt Nam and Laos, as well as multi-faceted co-operation between HCM City and Lao localities. HCM City will make every effort to promote the long-standing friendship, special solidarity and comprehensive co-operation between Việt Nam and Laos, for the sake of the two countries’ people and for peace, co-operation and progress in the region and the world, he said.

​Vietnam, Poland to boost cooperation between businesses Tuoi Tre News 1st Dec 2017
Polish President Andrzej Duda has attended a series of events in Ho Chi Minh City to foster the Vietnam- Poland business relationship and mutual success, within the framework of his state visit to the Southeast Asian nation from November 27 to 30. President Duda attended the Vietnam-Poland Business Forum organized in the southern Vietnamese city on Thursday with attendance of nearly 200 enterprises from the two countries. During his speech at the event, the Polish head of state underlined that the nearly-70-decade-long relations between the two nations has laid the basis for bilateral cooperation across sectors, particularly on economic matters.

​Philippines’ Duterte oversees repatriation of Vietnamese fishermen Tuoi Tre News 30th Nov 2017
Philippine President Rodrigo Duterte on Wednesday attended a ceremony to repatriate five Vietnamese fishermen who had been arrested by Philippine authorities in September for fishing in the country’s waters. The ceremonial send-off was held at the port of Sual in Pangasinan Province and joined by representatives of the Philippine government and provincial administration, according to the Embassy of Vietnam in the Philippines, which co-organized the event. The fishermen were arrested in September after Philippine authorities spotted their boat operating in the sea area off Pangasinan from 8:30 pm on September 22 to 1:00 am the following day.

Deputy PM assures Vietnam's wish to boost ties with Slovakia VOV 27th Nov 2017
Vietnam always places importance on developing its relations with traditional countries, including Slovakia, Deputy Prime Minister Vuong Dinh Hue said during talks with his Slovak counterpart Peter Pellegrini in Hanoi on November 27. Both sides expressed their pleasure at recent progress in bilateral ties, especially economic and trade cooperation. In the first three quarters of 2017, two-way trade reached US$671 million, up 92% from last year's same period. They consented to improve effectiveness of the Vietnam – Slovakia joint committee on economic cooperation, promote trade – investment exchanges, and create favourable conditions for Vietnamese and Slovak businesses to form partnerships and conduct market studies.

NA leader's Australia visit to boost comprehensive partnership VOV 26th Nov 2017
National Assembly Chairwoman Nguyen Thi Kim Ngan is due to make an official visit to Australia at the invitation of the Australian legislative and government bodies after her trip to Singapore beginning on November 26. The visit aims to consolidate comprehensive partnership with Australia. Vietnam and Australia have enjoyed growing partnership over the past years. Australia is Vietnam’s eighth biggest trade partner with bilateral trade exceeding US$5 billion in 2016. Australia is the 19th largest investor of Vietnam with 378 projects worth US$1.7 billion ,while Vietnam is running 17 investment projects valued at US$137 million. Australia is also among Vietnam’s largest ODA providers, with more than AUD130 million (US$99 million ) per year during 2010-2015.

Vietnam, Singapore look towards stronger strategic partnership VOV 25th Nov 2017
National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan will lead a high-level NA delegation to make an official visit to Singapore, starting on November 26 with a view to further strengthening Vietnam-Singapore strategic partnership towards the 45th anniversary of diplomatic ties. This visit is made by a NA leader of Vietnam after 14 years since former NA Chairman Nguyen Van An visited Singapore in 2003. In September 2013, Vietnam and Singapore issued a joint statement on the establishment of Vietnam-Singapore Strategic Partnership during the visit to Vietnam by Prime Minister Lee Hsien Loong and on the occasion of the 40th anniversary of their diplomatic relations.

National Affairs

Vietnam prosecutes bank officials in corruption crackdown Reuters 25th Nov 2017
Vietnam has prosecuted five former officials of the unlisted Dong A Bank for violating rules that “lead to serious consequences”, police said on Friday, part of a widening investigation involving the Ho Chi Minh City-based lender. Energy and banking firms are at the heart of a sweeping crackdown on corruption in the communist state, a campaign that made global headlines this year when Germany accused Vietnam of kidnapping a Vietnamese businessman in Berlin. The troubled, partly private Dong A Bank is among several lenders under scrutiny of the authorities who say they want to tackle corruption, including abuse of power and violation of lending rules.

ASEAN

Vietnam condoles on former ASEAN Secretary General's death VOV 1st Dec 2017
Deputy Prime Minister and Foreign Minister Pham Binh Minh on December 1 extended condolences to Thailand's Foreign Minister Don Pramudwinai over the death of former ASEAN Secretary General Surin Pitsuwan. Surin Pitsuwan also served as Thailand’s Foreign Minister in the late 1990s and is best known for his time at the head of ASEAN from 2008 until 2012. Thailand’s Democrat Party said Surin died November 30 in Bangkok of a sudden heart attack.

Customs

ASW is expected to be officially operated by January 2018 Customs News 1st Dec 2017
Vietnam expects to officially exchange e-C/O form D with Singapore, Indonesia, and Malaysia via ASEAN Single Window (ASW) from 1 January 2018 According to the latest information from the General Department of Vietnam Customs (GDVC) – Standing Office of National Steering Committee on ASW, ASW and Trade Facilitation, in this December, the unit will collaborate with the relevant ministries and sectors to proactively implement related works to exchange information on C/O via ASW with the 3 ASEAN countries from 1 January 2018. Regarding the result of NSW implementation, according to the latest information from the GDVC, at the end of November 2017, more than 15,100 enterprises have collected with the NSW with more than 602,000 dossiers processed. Total procedures which have connected with the NSW were 41, excluding Customs clearance procedures of the Ministry of Finance.

New preferential import and export tariff nomenclature will take effect by 1 January, 2018 Customs News 29th Nov 2017
The Government has issued Decree 125/2017/ND-CP amending and supplementing a number of articles of the Government’s Decree 122/2016/ND-CP dated 1 September 2016 on preferential import and export tariff, Goods Classification Nomenclature and absolute tax rate, complex tax rate, and import tariff-free quota. Attaching with the Decree are Appendix 1- the export tariff nomenclature under the list of taxable commodities, Appendix II- Preferential import tariff nomenclature under list of taxable commodities, Appendix III- Goods classification nomenclature and absolute tax rate, complex tax on used motor cars for transport of 15 persons or less (including the driver), Appendix IV- Goods classification nomenclature and import tariff rate-free quota on commodities subject to tariff-free quota. The Export tariff nomenclature under the list of taxable commodities in Appendix 1 enclosed with the Decree includes code, description, export duty rate for each commodity group and commodities subject to export taxable.

Shortcomings on specialized inspections are continuously reported to the Government Customs News 29th Nov 2017
On 27 November 2017, in Ho Chi Minh City, the Central Institute for Economic Management had a working session with Ho Chi Minh City Customs Department, representative of business subject to specialized inspections and import and export businesses on shortcomings in implementing specialized inspections to report to the Government. Mr. Pham Thanh Binh, the expert of GIG project said that over the past time, the Ho Chi Minh City Customs Department has greatly contributed to reflecting obstacles and shortcoming related to specialized management and helped leaders at all levels to promptly direct and remove difficulties for the business community. According to Mr. Binh, although State management agencies had many changes in administrative reform, what benefits businesses enjoyed were important. For example, The Ministry of Industry and Trade announced to cut over 600 administrative procedures, which procedures brought benefits to import and export businesses was a matter of concern. Because businesses were directly affected by these procedures.

Nearly 100% of enterprises in Hanoi declare tax via online Customs News 29th Nov 2017
According to the statistic of Hanoi Tax Department, until now, there are 98% of enterprises declares tax via online and over 95,36% of tax payment via online in the area. This rate has exceeded the target of Resolution No. 19, reducing the time, expenses for taxpayers and tax authorities in declaring and paying taxes. Besides that, the business registration to establish enterprises, automatic granting tax code in only 30 minutes, reduce 87.5% processing time compared to regulation as 4 hours like before. Hence, it helps enterprises, taxpayers to save time and travel cost as well as lodging file at any time, anywhere with a computer connected to the internet. Hanoi Tax Department also coordinates with related departments in solving with administrative procedures relating to land, and reduces processing time from 5 days to 3 days; To ensure the transparency and clarity of the land use right so that the land users understand processing time in each section and each agency, thus creating the consent of taxpayers.

AEOs are prioritized tax payment deadline for taxes related to imported and exported goods Customs News 28th Nov 2017
Authorized Economic Operators (AEOs) are prioritized tax payment deadline under provisions of Article 9, Law on Import and Export Duties No. 107/2016/QH13 for taxes related to imports and exports. The determination of tax payment deadline for AEOs has been automatically developed on the Centralized accounting system of the Customs. It is guided by the General Department of Vietnam Customs for the question of Ho Chi Minh City Customs Department on an application deadline for tax payment of AEOs. Specifically, Ho Chi Minh City said that the Law on VAT and Law on Special Consumption Tax did not stipulate taxpayers as AEOs. The Law on Tax management also did not regulate the tax payment deadline for this subject. Therefore, whether or not the regulation on the tax payment deadline of AEOs under provisions of Law on Import and Export Duties No. 107/2016/QH13 was applied to VAT and Special Consumption Tax.

Why is the administrative procedure in the field of health slowly deployed? Customs News 28th Nov 2017
Although the development of process and connection between the NSW Portal and Portal of the Ministry of Health on the procedures for announcement of standards for medical equipment type A have been completed from 13 October, 2017, now the Ministry of Health still has not yet completed the establishment of the internal system for official deployment of these procedures. This is one of the shortcomings affecting the deployment progress of administrative procedures of the Ministry of Health via National Single Window. Besides the above shortcomings, the General Department of Vietnam Customs (GDVC) said that the Ministry of Health had not unified requirements on operations, procedures and information criteria to implement procedure group for granting of the free-sale registration number of medical equipment type B, C, and D via NSW. According to the GDVC, in order to early deploy new administrative procedures of the Ministry of Health via NSW, the Ministry needs to soon complete the development of an internal system to implement the procedures for the announcement of standards for medical equipment type A via NSW.

Who is permitted to access the e customs data processing system? Customs News 28th Nov 2017
The General Department of Vietnam Customs has responded DHL-VNPT Express Co., Ltd (DHL company) related to information access and exchange with e-Customs data processing system and Customs supervision for import and export goods. Previously, DHL Company said that its customers requested to provide the list of cargo under the form No.30/DSHH/GSQL attached to the dossier of cargo to carry out procedures on tax and payment required by Tax authorities and banks. The Company thought that these requirements were shortcomings. For this obstacle of DHL Company, the General Department of Vietnam Customs said that Clause 3 Article 6 of Circular 38/2015/TT-BTC stipulated the entities that were permitted to access and exchange information with the system include authorities monitoring and managing on tax and price for import and export goods; Credit institutions signed agreement on collection and payment taxes and charges and others State budget revenue related to imports and exports with the GDVC; Credit institutions or other organizations operating under the Law on Credit institutions that provide guarantee for declarants’ taxable amount.

Defense & Security

International cooperation strengthened for East Sea peace, stability VOV 2nd Dec 2017
An international conference in Ho Chi Minh City has called for comprehensive, lasting, and sustainable solutions and trust building to turn the East Sea into an area of peace, stability, and development. VOV correspondent Huy Son reports on the outcomes of the 9th international conference on the East Sea. Themed "Cooperation for regional security and development," the 2-day conference concluded on November 29 in Ho Chi Minh City with candid, unbiased, and scientific principles.

Vietnam, China to conduct joint patrol in Tonkin Gulf VOV 1st Dec 2017
The Chinese People’s Liberation Army Navy and the Vietnam People’s Navy will conduct a joint patrol in the Gulf of Tonkin in December, announced spokesperson of the National Defence Ministry of China Wu Qian. Speaking at the regular press conference of the National Defence Ministry of China on November 30, Wu said the two sides will launch communication and joint rescue drills during the patrol. The spokesperson also reiterated that China highly values military relations with Vietnam and is willing to maintain stability and order in the Gulf of Tonkin and the shared fishing waters, as well as develop healthy and stable bilateral military cooperation.

Vietnam concerned about DPRK’s missile test VOV 30th Nov 2017
Vietnam Foreign Ministry spokesperson Le Thi Thu Hang on November 30 responded to reporters’ questions regarding Vietnam’s reaction to Pyongyang’s missile test on November 29. Vietnam is deeply concerned about the Democratic People’s Republic of Korea (DPRK)'s continued intercontinental ballistic missile test on November 29, which seriously violated relevant UN Security Council resolutions and increased tension in the region. The country strongly supports every effort to promote dialogue and maintain peace, stability on the Korean peninsula and calls on all involved parties to strictly abide by UN Security Council resolutions and take constructive actions to contribute to maintaining peace and stability in the region and the world as well as for public interest, Hang said.

​Malaysian royal naval vessels visit Ho Chi Minh City Tuoi Tre News 26th Nov 2017
Royal Malaysian Navy ships KD LEKIU and KL GAGAH SAMUDERA are in Ho Chi Minh City to join activities aimed at strengthening bilateral military cooperation. The Malaysian vessels arrived at Cat Lai Port in the southern hub on Saturday morning to commence the operational visit as part of an agreement reached by bilateral naval task forces. Representatives from Ho Chi Minh City’s Department of External Affairs, the Vietnamese Ministry of Defense, and local military commands were among members of the welcome team. After a welcome ceremony, the naval forces participated in activities that highlighted the history of both navies.

Economics

Vietnam seeks higher-quality FDI: experts VietnamNet 27th Nov 2017
While Vietnam needs foreign capital to develop the economy, it also requires advanced technologies to become involved more deeply in the global supply chain. The FDI capital would exceed the $30 billion threshold by year end At a meeting with Japanese investors recently, director of the Binh Duong Planning and Investment Department Nguyen Thanh Truc said foreign investors pledged to invest $2.171 billion in the province this year. Meanwhile, HCMC is leading the country in FDI (foreign direct investment) with total committed capital of $5 billion this year.

Energy

Security lax at radio-active installations Vietnamnews 4th Dec 2017
Mismanagement has led to an increase in dangerous incidents involving radio-active materials in Việt Nam, said Deputy Minister of Science and Technology Phạm Công Tạc. There were about 4,000 radio-active materials being used in 1,100 locations in Việt Nam at the end of last year, the deputy minister said at a conference held on December 1. Except during emergency circumstances, inspectors of radiation and nuclear safety typically examine 120 locations a year. At this rate, it would take almost 10 years for all units to be re-examined, Tạc said.

145 options proposed for greenhouse gas mitigation Vietnamnews 1st Dec 2017
One hundred and forty five greenhouse gas mitigation options have been proposed following a collaboration project with Japanese experts on supporting Việt Nam’s reduction of greenhouse gas emissions. A workshop on low carbon technology assessment, co-hosted by the Ministry of Environment and Natural Resources (MONRE) and the Japan International Cooperation Agency in Việt Nam, was held in Hà Nội yesterday. It reported the outcome of the assessment of low-carbon technologies to support the planning and implementation of Việt Nam’s Nationally Appropriate Mitigation Action, carried out by Vietnamese ministries and sectors in collaboration with a team of Japanese experts in the past year.

​Vietnam raises power price by 6.08 percent Tuoi Tre News 1st Dec 2017
Vietnamese consumers woke up on Friday to a 6.08 percent electricity price hike that authorities failed to announce until one day before it came into effect. Power prices in the Southeast Asian country now average VND1,720.65 per kWh, excluding value-added tax, compared to the previous rate of VND1,622.01 per kWh, the Ministry of Industry and Trade announced late Thursday. The ministry underlined in its announcement that the price hike had been backed by the prime minister, and was calculated after reviewing the production costs of EVN, the country’s power monopoly, in 2016. The results of the review have been audited by both an independent unit and an inter-ministerial team, according to the ministry.

​Vietnam's PV Oil plans Jan IPO that aims to raise at least $92 mln Tuoi Tre News 1st Dec 2017
Vietnam state oil distribution firm PetroVietnam Oil Corp (PV Oil) plans to offer 20 percent of its shares in an initial public offering (IPO) in January that aims to raise at least $92 million, its parent firm said on Friday. PV Oil would also offer up to an additional 44.72 percent to strategic investors and another 0.18 percent to employees, state oil and gas group PetroVietnam said in a statement on its website. The sale is part of Vietnam's broader privatisation program that seeks to divest from hundreds of state-owned enterprises to improve their performance and to help raise funds for the tight state budget that has challenged efforts to support growth. The government plans to reduce its stake in PV Oil to 35.1 percent, the PetroVietnam statement showed. Nineteen companies have submitted applications to be PV Oil's strategic investors, and three quarters of those are foreign investors, the firm said.

Việt Nam solar power to be discussed at Future of Energy Summit Vietnamnews 27th Nov 2017
The Bách Khoa Investment and Development of Solar Power Corporation (SolarBK Group) will be the only Vietnamese business participating in the Future of Energy Summit, organised by Bloomberg New Energy Finance, in Shanghai, China on November 28-29. Nguyễn Dương Tuấn, founder and CEO of SolarBK Group, said he would join a panel discussion themed "Việt Nam’s Energy: Growth and Opportunities", at the two-day meeting. Tuấn said SolarBK has recently been awarded a license for the first ‘all-Vietnamese’ utility scale solar project in Đà Nẵng, with a capacity of 4.4MW, and commissioned a number of rooftop projects in Việt Nam.

VN’s first station for electric vehicles opens in Da Nang Vietnam Investment Review 27th Nov 2017
Financed by the Central Power Corporation (CPC), the system was manufactured in Japan, allowing battery charging to maximum capacity in just half an hour. CPC, under the Viet Nam Electricity Group said the system was built to enhance ‘green’ vehicle use in the city. Each charger system will cost VND700 million (US$31,000).

Financial Services

Fintech sees strong rise in Vietnam VietnamNet 4th Dec 2017
Foreign conglomerates have poured hundreds of millions of dollars into Vietnamese fintech firms, as more bank-fintech cooperation agreements have been signed recently. Fintech sees strong rise in Vietnam Though fintech is still in the early stage of development, it has attracted hundreds of millions of dollars from investment funds. UTC Investment from South Korea has spent VND542 billion to acquire a 65 percent stake of VNPT Epay, while SEA has a 45 percent stake in VNPAY.  A series of investment deals were made in 2016, including $28 million by SCPE and Goldman Sachs in Momo e-wallet, and Credit China Fintech’s acquisition of a 51 percent stake of Amigo Technologies

Sacombank offers $132 mil credit package to household businesses, small traders Vietnamnews 1st Dec 2017
Sacombank has set aside VNĐ3 trillion (US$132.15 million) for preferential loans to household businesses, small traders and firms converted from household businesses in HCM City. The annual interest rate is 6.9 per cent for short-term loans and from 9 per cent for long-term loans. At a seminar to connect Sacombank with firms, household businesses and small traders in HCM City held on November 30, the bank signed agreements to offer preferential credit to 55 customers in the city. The bank said it would continue to offer preferential loans to other eligible customers from now until mid-2018.

Mobile payments boom, but not in Vietnam VietnamNet 1st Dec 2017
While mobile payments are becoming more widely used in many countries, the service  remains unpopular in Vietnam, despite the high number of mobile phone subscribers. Can Van Luc, a banking expert from BIDV, said current conditions are all favorable for mobile payments to develop: the retail market and e-commerce are thriving, while bank cards and smartphones are more popular. The presence of fintech firms has also helped the mobile payment market. More than 30 fintech firms were established in Vietnam as of 2016, two-thirds of which provide mobile payment services.  Experts also believe that mobile payments will be the outstanding feature of the Vietnam fintech market this year.

Uber signs partnership with Vietnam's leading e-wallet firm ABC News 29th Nov 2017
Uber Technologies Inc. on Wednesday signed a deal with MoMo, Vietnam's leading financial technology firm, enabling Uber riders to pay for trips using MoMo's e-wallets in a country where most transactions are done in cash. The partnership is Uber's first deal with a fin-tech company in Southeast Asia. It aims to catch up with regional rival Grab, which has its own e-wallet service. Backed by Standard Chartered Bank and Goldman Sachs, MoMo has 5 million users in Vietnam who use its e-wallet to pay utility bills, buy plane tickets and do online shopping. Brooks Entwistle, Uber's chief business officer in the Asia Pacific, said he expects the partnership to help the two companies grow and to change Vietnam's cash-dominated economy.

E-logistics race spurs deliverers VOV 27th Nov 2017
Vietnam’s fast-paced e-commerce logistics sector has spurred last-mile delivery companies and e-commerce operators to step up their game. Last week, DHL eCommerce launched a nationwide network of service points in Vietnam, a strategic move following its rollout of a domestic delivery network in the country earlier this year. Charles Brewer, CEO of DHL eCommerce, said that the firm will begin using the shop-in-shop model, which means DHL eCommerce will open and operate counters in local shops, convenience stores, and cafes.

Vietnamese fintech market looking at bright prospects Vietnam Investment Review 22nd Nov 2017
There are 40 fintech companies operating in Vietnam at the moment, providing diversified financial services, such as payments, transfer, capital mobilisation, and financial management, to meet the high demand of users.

Food & Agriculture

Remote sensing technology mitigates risks in agricultural production Vietnam Investment Review 22nd Nov 2017
The data provided to farmers, businesses, insurance companies, policy makers and specialists remain limited, leading to high risks in production. Remote sensing technology would help reduce the risks. According to the National Institute of Agricultural Planning and Projection (NIAPP), remote sensing technology can replace the usual tools in monitoring agricultural production and give more reliable results. In the past, Vietnam used statistical systems, which were time-consuming and led to big errors.  Remote sensing technology surveys larger areas, and gives results after shorter time and with higher accuracy. And the cost of using remote sensing technology is lower than traditional methods.

VN yet to sow seeds of low carbon rice Vietnamnews 4th Dec 2017
Investment in low carbon farming models can speed up rice industry reform, increase productivity, boost farmers’ incomes and ensure sustainable development, a senior official have said. It would also help the country access climate change funds for green growth, Deputy Minister of Agriculture and Rural Development Lê Quốc Doanh said at conference in Hà Nội on December 1. In Việt Nam, greenhouse gas (GHG) emissions from rice cultivation are estimated to account for more than half of emissions by agriculture production as a whole.

Ministry takes action in response to EU’s warning of IUU fishing Vietnamnews 4th Dec 2017
The Ministry of Agriculture and Rural Development has approved a plan to implement urgent solutions in response to the European Union’s (EU’s) warning about illegal, unreported and unregulated (IUU) fishing. Many solutions have been devised according to the EU’s recommendations. They include aligning the legal framework with regional and international regulations, implementing effectively the amended legal regulations for IUU fishing, and implementing effectively the international regulations and management measures through strict punishment. In addition to this, Việt Nam will address the shortcomings in the monitoring system to serve the certification of the origin of aquatic products, improve the fishing boat management system, enhance cooperation with regional countries, and comply with regulations on fisheries data collection and report.

US approves fresh mango imports from Vietnam Tuoi Tre News 2nd Dec 2017
Fresh mango fruit imports from Vietnam have been allowed to enter the continental United States later this month, head of the Vietnam Trade Office in the U.S. has said. The import license takes effect on December 29, Vietnamese Minister Counselor Dao Tran Nhan said on Friday, citing an announcement by the U.S. Department of Agriculture. In order to gain access to the world’s biggest economy, Vietnamese mangoes will be subject to orchard requirements, irradiation treatment, and port of entry inspection, Nhan said. Moreover, the fruit must be imported in commercial consignments and accompanied by a phytosanitary certificate issued by Vietnam’s Plant Protection Department.

Coffee supply steady in Vietnam, Indonesia premium rises Tuoi Tre News 1st Dec 2017
The continuing harvest kept coffee bean supply steady in Vietnam, the world's second biggest producer, while trading in Indonesia remained subdued on low stockpiles, traders said on Thursday. Vietnamese farmers have been ramping up their harvest of coffee beans in the Central Highlands, the country's coffee belt. Traders said the weather had been supportive. Farmers in Daklak, Vietnam's main coffee growing province, were offering coffee beans at a price range of 37,100-37,700 dong ($1.63-$1.66) per kg, widening from a range of 37,300-37,500 dong a week earlier, traders said. Vietnam's 5 percent black and broken grade 2 robusta was traded at a discount of $50-$65 per tonne to the ICE March futures contract , expanding from a $40 discount a week earlier, traders said.

ADB helps Viet Nam promote inclusive flower production Vietnamnews 1st Dec 2017
The Asian Development Bank (ADB) on Friday signed loan agreements worth US$20 million with Agripacific Holdings (APH) and Kunming Hasfarm Flowers (KHF) to develop high-value horticulture in Việt Nam, China and Indonesia. ADB will lend the equivalent of $15 million in US dollars and Japanese yen to APH -- a major grower of cut flowers in Asia -- and equivalent of $5 million in Chinese yuan, to KHF, APH’s main subsidiary for operations in China. The transaction is ADB’s first private sector loan denominated in Japanese yen outside the financial sector.

Mini-marts disrupt food industry VietnamNet 1st Dec 2017
Convenience stores were the most successful food and drink service channels in the past year, according to results of a survey released at a seminar held in HCM City on Thursday. Convenience stores were the most successful food and drink service channels in the past year, according to results of a survey released at a seminar held in HCM City on Thursday.— Photo cafebiz The seminar, with the theme “The Food-service Industry; It’s Time to Welcome Generation Z”, discussed the latest market updates, including a Food-service Monitor set up by Decision Lab that supplies data on consumer eating-out purchases and visits in Viet Nam. Based on daily monitoring of dining-out behaviours, the monitor gives key insights on important developments in the market and solutions for operators, manufacturers and investors.

Sugar companies want to extend protection period VietnamNet 1st Dec 2017
The Vietnam Sugar & Sugarcane Association (VSSA) has asked the government to delay the removal of the sugar import quota to 2022 instead of 2018 as committed in ATIGA (ASEAN Trade in Goods Agreement).  Experts say Vietnam should not continue protecting the sugar industry ATIGA was signed in February 2009 and took effect on May 17, 2010. Under the agreement, Vietnam will remove the import quota from 2018 (at present, Vietnam has to import 89,500 tons of sugar a year in quota as per the WTO commitment). Asked if Vietnam would break ATIGA if it delays the quota removal, VSSA’s secretary general Nguyen Hai said in principle all provisions in FTAs can be re-negotiated. 

​Vietnam’s seafood exports forecast to hit record high in 2017 Tuoi Tre News 1st Dec 2017
Vietnam’s seafood exports are forecast to reach a record US$8.4 billion in 2017, the Vietnam Association of Seafood Exporters and Producers (VASEP) said Thursday. The number is a nearly $1.4 billion increase from 2016 figures, and $1 billion more than VASEP year-start forecasts, the association’s representative told a conference . According to VASEP, as of November 15 Vietnam had exported $7.25 billion worth of seafood to foreign markets, a 17.8 percent increase year-on-year. Apart from exports to the U.S., which suffered a 2.4 percent decline from 2016 to 2017, all other export markets of Vietnam’s seafood saw impressive growths over the past year.

Vietnam acts to ensure food security amidst climate change Vietnamplus 28th Nov 2017
Vietnam is taking urgent action to ensure food security against the negative effects of climate change, which has resulted in heat waves, forest fires, floods and sea level rise in recent years. Sunlight, temperature and rainfall are the main drivers of crop cultivation, hence, agriculture is directly affected by climate change. Many of these impacts are already measurable.  Vietnam is still considered an agricultural country, with approximately 70 percent of the population living in rural areas. The Mekong Delta is the largest agricultural production area in Vietnam, contributing 54 percent of the country’s rice output, 70 percent of aquatic production and 36.5 percent of fruit output. Up to 90 percent of rice exports and 65 percent of seafood shipments of Vietnam come from the Mekong Delta, according to Dao Anh Dung, Vice Chairman of the Can Tho city People’s Committee.

Việt Nam’s fruit imports from South Korea surge Vietnamnews 27th Nov 2017
Korean exports of pears and apples to Việt Nam have soared in the past years, according to the Korea Agriculture Food Trade Association. Korea’s pear exports to Việt Nam surged by 9,440 times in the 2011-16 period, from US$52,000 in 2011 to $4.96 million last year. Its apple exports to Việt Nam also went up by 928.8 per cent in the period, from $66,000 to $679,000. Speaking on the sidelines of a seminar in HCM City on Friday, Cao Thị Quỳnh Giao, director of Lâm Khải Hoàn Co.Ltd, said her company imports about two to five containers (each container having a loading capacity of 600kg) of pears and apples from South Korea to distribute to supermarkets in Việt Nam.

​Vietnam brewer Sabeco gets strong response at Singapore investor roadshow: chairman Tuoi Tre News 27th Nov 2017
Vietnam’s biggest brewer Sabeco has received a strong response from potential suitors at an investors’ roadshow in Singapore, its chairman said, as the government moves closer to finalizing a stake sale in the $9 billion maker of Bia Saigon and 333 brews. Vo Thanh Ha said the government is due shortly to publish details of a divestment plan for its nearly 90 percent stake in Saigon Beer Alcohol Beverage Corp, as the brewer is formally called, as part of a lengthy fund-raising exercise. The sale has attracted interest from brewers seeking access to one of Asia’s most-promising beer markets, which is already the second-most profitable for Dutch brewer Heineken NV. Vietnam’s per capita beer consumption is forecast to become one of Asia’s highest within the next couple of years.

China makes up three-fourths of Vietnam’s vegetable, fruit exports VOV 27th Nov 2017
China spent US$2.17 billion importing fruit and vegetables from Vietnam in the first ten months of 2017, making up nearly 75.9% of Vietnam’s total export revenue from these products, according to the General Department of Vietnam Customs. Vietnam exported US$240 million of vegetables and fruits last month, taking the total to US$2.86 billion in the year to end-October, up 42.6% year-on-year. Revenue from vegetable and fruit exports exceeded that of Vietnam’s key export products such as rice, crude oil and coal.

Vietnam’s instant noodle giants VietnamNet 27th Nov 2017
The Vietnamese instant noodle market is considered extremely attractive by instant noodle manufacturers, with a market value of VND27 trillion ($1.19 billion) as well as continuously increasing consumption volumes. Vietnam is the fourth largest consumer of instant noodle in the world, with major names vying for dominance Vietnam saw recovery in the consuming of instant noodle with a total 4.9 billion packages consumed in 2016, up 2.5 per cent on-year, making Vietnam the fourth largest consumer country in the world, following China, Indonesia, and Japan.

Exploring opportunities for inclusive agricultural development in Vietnam Far Eastern Agriculture 27th Nov 2017
Researchers working with the ‘Market-based approaches to improving the safety of pork in Vietnam’ or SafePORK project attended a North-West Symposium hosted by the Australian Centre for International Agricultural Research (ACIAR) in Hanoi The SafePORK project brings together expertise in smallholder pig systems. Image source: chx69/Pixabay) The two-day research-for-development symposium discussed opportunities for inclusive agricultural development in the northwest region of Vietnam. SafePORK is funded by ACIAR and coordinated by the International Livestock Research Institute (ILRI) with a duration of four and a half years starting in October 2017. Using a multi-disciplinary approach, the project brings together expertise in smallholder pig systems, risk analysis, socio-economics, value chain assessment, veterinary epidemiology, and public health. The core partners are the Hanoi University of Public Health (HUPH), Vietnam National University of Agriculture (VNUA) and Vietnam National Institute of Animal Science (NIAS).

Vietnam's local coffee prices drop, Indonesia premium tightens Tuoi Tre News 24th Nov 2017
Vietnam's domestic coffee prices fell due to new harvest supplies, while the market in Indonesia remained lacklustre, traders said on Thursday. Vietnam, the world's second biggest coffee producer, is in its peak harvest season, supported by sunny and dry weather in the Central Highlands, the country's coffee belt, traders said. Vietnam's national centre for weather forecasting said the coffee belt regions would mostly be sunny for at least another week, which could help farmers to pick and dry beans faster and keep the coffee in good condition. Both the quality and volume of the 2017/2018 crop year, which started in October, are expected to surpass the year before, traders said, adding the ratio of mouldy coffee would be significantly lower.

Health & Life Sciences

Innovation in medical-ed highlighted Vietnamnews 4th Dec 2017
As Việt Nam and its Southeast Asian neighbours integrate into the ASEAN block, which will require the free movement of health care workers and patients, there is an urgent need to update the country’s system of medical education including university curricula and approaches to teaching and learning, according to medical professors. Speaking at a two-day conference that ended on December 3 in HCM City, Professor David Gordon, president of the World Federation for Medical Education, said that a training programme should include not only basic science and clinical medicine, but also teaching ethics and medical law, which are clearly not optional.

Iodine-enriched ‘3 Mien Bouillon’ contributes to iodine deficiency prevention in Vietnam Tuoi Tre News 27th Nov 2017
In the alarming situation of iodine insufficiency in Vietnam, UNIBEN Company has actively collaborated with experts from the Nutrition Center of Ho Chi Minh City for researching and developing a new food product – iodized bouillon, which is currently highly recognized by nutritional practitioners. In order to facilitate healthy eating habits among the population, UNIBEN has also distributed a significant amount of the iodized bouillon to millions of Vietnamese families.

ICT

Top tech university gains Vietnam’s first AUN-QA accreditation Tuoi Tre News 4th Dec 2017
The Ho Chi Minh City University of Technology (HCMUT), Vietnam’s leading polytechnic university, has become the country’s first university accredited at institutional level by the ASEAN University Network – Quality Assurance (AUN-QA). The news was confirmed by Dr. Vu Dinh Thanh, rector of HCMUT, which is a member college of the Vietnam National University-Ho Chi Minh City. AUN-QA is a higher education quality assurance network among countries of the Association of Southeast Asian Nations, or ASEAN, with a remit to raise the standard of higher education in collaboration with both regional and international bodies for the benefit of the ASEAN community.

Vietnamese businesses fear future ransomware attacks VietnamNet 1st Dec 2017
After the May 2017 worldwide cyberattack by the WannaCry ransomware cryptoworm, Vietnamese businesses fear being blackmailed by ransomware again. The biggest concern about cyber security is ransomware “100 percent of businesses surveyed by VNISA said the biggest concern about cyber security is ransomware,” said Vo Van Khang, deputy chair of VNISA. The WannaCry attack was on May 12, and 240 units in Vietnam, mostly businesses, suffered. The total damage was estimated at hundreds of millions of dong.  A television program production unit in HCMC was asked by WannaCry for 7 bitcoin ransom. A plant with a turnover of up to trillion dong per year in Bien Hoa (Dong Nai province) was also attacked by WannaCry. One company with head office in Hanoi, which was a victim, had to pay VND100 million to get files back.

Internet of Things to drive VN’s digital future VietnamNet 1st Dec 2017
The massive potential of Internet of Things (IoT) is set to help Viet Nam pursue its goal of a smart city and becoming an industrial country by 2020, experts said at an international conference held on Thursday in HCM City. Experts speak at the 19th edition of the Asia IoT Business Platform organised on Thursday in HCM City.  More than 200 representatives from the hi-tech sectors are participating in the 19th edition of Asia IoT Business Platform. Speaking at the two-day conference, Duong Minh Tam, vice president of Sai Gon Hi-Tech Park Management Board, said the meeting provided an excellent opportunity to exchange ideas and knowledge about IoT for government and businesses. “It aims to raise awareness on using IoT in all sectors to improve the country’s competitiveness and sustainable development, epsecially in building smart cities,” he said.

VN needs tech updates to remain competitive: experts Vietnamnews 27th Nov 2017
Innovative manufacturing is key to increasing productivity and sustainability as Viet Nam confronts the fourth industrial revolution (Industry 4.0) challenges, experts say. They said at a roundtable discussion and workshop last Friday that keeping up with the latest trends and technologies was imperative for the economy to remain relevant and competitive. Organised by Việt Nam’s Ministry of Industry and Trade, the Embassy of Sweden and Business Sweden –the Swedish Trade and Investment Council, the event aimed to strengthen collaboration between the two countries by sharing experiences and practices on technological innovations.

Cybersecurity regulations to cause massive hit to IT firms Vietnam Investment Review 22nd Nov 2017
Under Clause 4, foreign enterprises that provide telecommunications and/or internet services in Vietnam are required to “obtain licences for their operations and locate their representative offices and servers with Vietnamese user data stored on them in the territory of the Socialist Republic of Vietnam,” and any violation will be stringently punished under legislation.”

Manufacturing

​Vietnam among two slowest-selling automotive markets in ASEAN: report Tuoi Tre News 3rd Dec 2017
Vietnam and Brunei were the only two auto markets among members of the Association of Southeast Asian Nations (ASEAN) to have turnover plunge this year, according to a report by the ASEAN Automotive Federation. Specifically, Vietnam sold 4.2 percent fewer cars as of November this year compared to the same period last year, a drop from nearly 193,000 cars to just under 185,000. The fall was only behind Brunei, which saw a plunge of seven percent year-on-year, from over 9,400 cars to around 8,700 in 2017. Meanwhile, the markets like Thailand, the Philippines, Indonesia and Malaysia reported growth rates of 1-1.5 percent over the same period.

Samsung vows more support for Vietnamese firms to enter its supply chain Customs News 1st Dec 2017
General Director of Samsung Vietnam Shim Won hwan pledged to continue supporting Vietnamese firms to take part in the Korean group global supply chain while meeting Chairman of the Ho Chi Minh City People Committee Nguyen Thanh Phong on November 30 Chairman Phong spoke highly of operation of Samsung, one of the biggest foreign investors in Vietnam, noting its contribution of about 20% of the country’s export revenue. The Samsung complex in the Saigon Hi-tech Park has operated effectively since mid-2016, creating jobs for more than 7,000 people. He asked the company to continue community activities, pay attention to its employees’ life and human resources training, and raise the rate of locally made components in its products. HCM City always makes efforts to improve the local investment climate and create the best possible conditions for foreign investors, including Samsung, the official added.

Footwear exports enjoy 13% rise during Jan-Oct VOV 27th Nov 2017
The export turnover of Vietnamese footwear products hit US$11.82 billion in the first ten months of 2017, up 13% year-on-year. Exports to Indonesia recorded the highest growth, at 53%, followed by Singapore (45%), Hungary (34%), India (33.7%) and Poland (33%). The Vietnam Leather, Footwear and Handbag Association predicted that the footwear sector’s production will enjoy a growth rate of 5% this year compared to last year, while the export value of footwear and handbags will reach nearly US$18 billion, or a 10% rise a year-on-year