Vietnam will have to cut massive tariffs under the ASEAN Trade in Goods Agreement (ATIGA) in January 2018.
Vietnam Welcomes Investors Recommendations to Improve Business Climate: PM.
The government of Vietnam welcomes all feedback and recommendations of domestic and foreign investors to improve local policies for better business climate, said Prime Minister Nguyen Xuan Phuc on December 18, the Vietnam News Agency (VNA) reported.
He made the remarks at a meeting with representatives of local and foreign enterprises and investors in the Mekong Delta province of Dong Thap where he attended the Expanding Market for Fruits  Vegetables and Improving Logistics for Agriculture and Rural Development Forum shortly before.
ASEAN Free Trade to Put Pressure on Vietnam.
According to the ASEAN Trade in Goods Agreement (ATIGA), Vietnam will have to cut 669 tariff lines to zero percent in January 2018. Among the products are automobiles and spare parts, vegetable oil, refrigerators, air conditioners and dairy products.
ATIGA promises great opportunities for the country, including exports of many products the country has advantages to other members of the bloc without or very low import tariffs.
Vietnam-Russia Business Relations Boom.
Enterprises from Vietnam and Russia should utilize new business opportunities to cement the comprehensive relationship between the two countries, said Deputy Prime Minister Trinh Dinh Dung at the recent Expo-Russia Vietnam 2017.
The future of bilateral ties depends not only on the expectations of the two governments, but also on the dynamism and determination of the two business communities, the deputy PM said.
Quang Ninh: Van Don Gears towards Special Administrative-Economic Zone.
The northern province of Quang Ninh has decided to choose Arcadis & Callison RTKL from Hong Kong (China) to become its consultant for the development of Van Don special administrative-economic zone.
Vice Chairman of the provincial Peoples Committee Nguyen Van Thanh said Van Don will be developed in line with the local general social-economic planning and the province will have meticulous discussions with the consultant to ensure that Van Don planning is in accordance with provincial development and meets requirements of a special economic zone.
Kasikorn Bank Brings Perspective to Vietnams Bad Debt Issue.
Thailand-based Kasikorn Bank has set its sights higher than just gaining a strong foothold in Vietnam and also has an eye on the local bad debts market.
Vietnamobile Enters 4G Market.
Vietnamobile has become the fifth operator licensed to provide 4G services in Vietnam, after Viettel, VinaPhone, MobiFone and Gtel. The license is valid until September 15, 2024.
Song Da Corp to Sell 219 Million Shares at IPO.
The state-owned Song Da Corporation will offer 219 million shares, or 48.82% of its registered capital, at its initial public offering (IPO) scheduled on December 25 at a starting price of 11,000 dong ($0.48) per share.
According to the privatization plan, the government will retain a 51% in the corporation. The company plans to sell nearly 219.7 million shares to strategic investors via auctions.
Vietnam Pockets $4.84 Billion from Selling Majority Stake of Sabeco.
The Vietnamese government has raked in 109.97 trillion dong ($4.84 billion) from selling out 343.66 million shares or a 53.59% stake in Sabeco, the countrys largest beer producer, put up for auction on Monday.
An institutional bidder bought 343.64 million shares at 320,000 dong ($14) apiece, the minimum set by the Ministry of Industry and Trade, while a retail investor bought 20,000 shares at 320,500 dong each, according to results announced by the Hochiminh Stock Exchange.
Vietnams Forex Reserves Forecast to Swell to $48 Billion by End-2017.
The Vietnamese central bank continues to build up its foreign currency reserves amid strong influx, and the sum is expected to reach $47.5 to $48 billion by the end of this year, VnEconomy cited sources with knowledge of the matter as saying.
The State Bank of Vietnam (SBV), the countrys central bank, has bought in another $1.5 billion worth of hard currencies over the past month, the paper said.
TUAN MINH.
