Despite the difficulties caused by the Covid-19 pandemic, the leather and footwear industry still achieved double-digit export growth, with many enterprises having had long-term orders. Orders are plentiful again After a long time struggling to maintain operations due to the negative impact of the Covid-19 pandemic, many enterprises in the leather and footwear industry have now found a way to keep production. Many enterprises even have received many orders. Visit Vietnam Insider’s Homepage for more stories. According to Ms. Nguyen Thi Xuan Thuy, Head of the Department of Integration Strategy and Policy under the Institute of Industrial Policies and Strategies,…
Author: Miley Selena
Vietnamese lychees from Thanh Ha District, the Northern province of Hai Duong are sold at VND500,000 (€18 or US$22) per kilogram on the shelves of Asian-European supermarkets in Paris, France. The Vietnam Trade Office in France and the Vietnamese Embassy in France will set up a booth showcasing Vietnamese lychees at the Vietnam Food Festival 2021 in Paris on the upcoming June 19. Visit Vietnam Insider’s Homepage for more stories. After tasting the fresh lychees, many consumers are interested in the delicious and the sweet naturally in lychees and some people bought up to five kilograms of lychee. This is…
Gold hallmarking will come mandatory from today, i.e., June 16, 2021, the Ministry of Consumer Affairs, Food & Public Distribution announced via a press release dated June 15, 2021. As per the press release, jewellers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking. The press release also stated that gold of additional carats 20, 23 and 24 will be allowed for hallmarking. Say, if you buy gold bangles of 23 carat, then your jeweller will be required to sell you hallmarked gold jewellery. The mandatory hallmarking of gold provides surety of purity of the…
The Central Board of Direct Taxes (CBDT) has notified the cost inflation index (CII) for FY 2021-22 as 317 via a notification dated June 15, 2021. For the previous year, i.e., FY 2020-21, CII was notified as 301. CII is used to calculate the inflation adjusted cost price of an asset. The inflation adjusted price then is used to arrive at long-term capital gains or long-term losses. The CII number is used to calculate inflation adjusted price of assets such as land, building, house, gold jewellery, debt mutual funds etc. However, it cannot be used for equity shares and equity…
A walk through some of the steps that most of foreign investors took to purchase a company in Vietnam. As a foreigner, if you ever dreamed of starting a business in Vietnam, then you probably thought you had to start from scratch. But, did you know that that’s not always the case? You can also look into purchasing an existing company in Vietnam, which has its own list of pros and cons. Over the past years, GBS has supported many investors acquiring local businesses. They purchased everything from other company and merged them together. With the support from GBS’s advisory…
The novel coronavirus pandemic has hit the common man’s finances hard. Over the past more than one year, many have lost jobs or witnessed complete or significant loss of income due to which many have been finding it difficult to service liabilities like loans. To help those borrowers who have been finding it difficult to pay back loans, the Reserve Bank of India (RBI) had lent a helping hand in the form of loan restructuring. In 2020, the RBI had announced a loan restructuring program. And then in May 2021, due to the second wave of Covid-19, it announced a…
TNEX, Vietnam’s first all-digital bank to offer “free everyday banking for life” has just been awarded ‘Best New Digital Bank’ Vietnam by International Finance magazine, a premium business and finance magazine in the U.K. “TNEX is the first youth bank or financial service provider for Millennial and Gen Z consumers. TNEX is the first “ecosystem bank.” The neobanking platform aims to help people improve the quality of their lives”, said Bryan Carroll, Founder and CEO at TNEX. It’s the first “GameTech bank” of its kind in the world. It offers “pure engagement fun” and also serves as the “First Micro Merchant…
The HCMC Department of Tourism has asked the municipal People’s Committee to provide travel firms access to a non-interest loan package of VND208 billion ($9.06 million). Apart from the loan package, the department also proposed the city government support training expenses for tourism personnel this year. Visit Vietnam Insider’s homepage for more stories. The loan would help large and small tourist firms heavily affected by new coronavirus waves pay at least 50 percent of their employees’ salaries for three months. These loans are expected to cover about 31,500 employees at 1,049 travel firms across the city. The city-funded credit package…
A photo contest running with the theme of “Vietnam through the lens of foreign photographers” has been launched by the Department of Fine Arts, Photography and Exhibition under the Ministry of Culture, Sports and Tourism. The competition is part of the first “Vietnam International Photography Festival” which is scheduled get underway in northern Ninh Binh province, the Voice of Vietnam (VOV) reported. The event is open to Vietnamese and foreign amateur and professional photographers to submit their works which showcase the beauty of Vietnamese land and people. All entries must be sent to the organizing board’s email address photofestival2021vn@gmail.com before…
Vietnam’s Health Ministry confirmed 91 new domestic Covid-19 cases Wednesday morning, bringing the number in the new wave since late April to 8,088. Of the new patients, the northern Bac Giang Province recorded 61 cases in isolated areas and quarantine camps, and they are all linked to hotspots at the province’s industrial parks. Ho Chi Minh City registered 19, including 13 that had come into contact with previously confirmed patients and five linked to the cluster appearing late last month at a church in Go Vap District. For the remaining case, the source of transmission is still unclear. Related: Vietnam…