[Round-up] EU Finds Chinese Steel Sent via Vietnam Evaded Tariffs

Tuan Minh

10:57 15/11/2017

BizLIVE - The European Union's anti-fraud office said it has found Chinese steel was shipped through Vietnam to evade the bloc's tariffs. Vietnam holds potential to develop its software industry thanks to having many young IT-savvy workers.

[Round-up] EU Finds Chinese Steel Sent via Vietnam Evaded Tariffs

The European Union's anti-fraud office said it has found Chinese steel was shipped through Vietnam to evade the bloc's tariffs. Photo: SCMP

EU Finds Chinese Steel Sent via Vietnam Evaded Tariffs
The European Union's anti-fraud office (OLAF) said it has found Chinese steel was shipped through Vietnam to evade the bloc's tariffs.
Steelmakers are now awaiting a similar but more widespread U.S. circumvention investigation involving China and Vietnam.
Vietnam Holds Big Potentials for Software Industry: Siemens Manager
Vietnam holds potential to develop its software industry thanks to having many young IT-savvy workers, according to Cedrik Neike, Member of the Managing Board of Siemens AG, Europe’s leading industrial manufacturer based in Germany.
He made the comment at a meeting with Deputy Prime Minister Trinh Dinh Dung on November 13 while visiting Vietnam.
First ‘All-Vietnamese’ Large-Scale Solar Project Gets License
Vietnamese renewable energy firm SolarBK has received a license from the People's Committee of Da Nang City, Vietnam, for a 4.4MW solar PV project, which it claimed will be the first such plant set to be entirely implemented by Vietnamese engineers.
SolarBK is the Danang project owner and will act as EPC services provider. Meanwhile, the project will use PV modules from the local factory of its subsidiary, IREX. The farm will be built on 6.7 hectares in Lien Chieu district at a cost of 112 billion dong ($5 million).
Vietnam, Luxembourg Sign General Cooperation Agreement
Vietnam and Luxembourg signed in Hanoi on November 14 a General Cooperation Agreement between the two governments, the third of its kinds between the two countries since 1995, according to VNA.
In his remarks at the signing ceremony in Hanoi, Minister of Planning and Investment Nguyen Chi Dung said the non-refundable ODA from the government of Luxembourg has been poured to Vietnam’s key areas over the past two decades. The cooperation programs have been geared towards Vietnam’s five-year socio-economic development plans and the Millennium Development Goals and the projects have been approached in a diverse, comprehensive fashion towards the sustainable development.
Can Tho, RoK’s Gimcheon Discuss Future Cooperation
The Mekong Delta city of Can Tho and Gimcheon, the central city of the Republic of Korea discussed their future cooperation in trade, investment and social welfare in a meeting between the two cities’ leaders on November 13.
Chairman of the People’s Committee of Can Tho Vo Thanh Thong hosted a reception for Mayor of Gimcheon Park Bo Saeng in which he briefed his guest on the local socio-economic development, noting the RoK has been assisting the city in two ODA projects – the Vietnam-Korea Industrial Technology Incubator and a project supporting the city in agricultural mechanization.
HCM City, RoK’s Daegu Forge Stronger Business Collaboration
Ho Chi Minh City and Daegu city of the Republic of Korea (RoK) should work together to optimize their cooperation potential in trade and investment in the future, said Le Thanh Liem, Vice Chairman of the municipal People’s Committee, at a business forum between the two cities on November 13.
Liem noted that the RoK is the largest investor and among three biggest trade partners of Vietnam. The Vietnam-RoK free trade agreement, which goes along with tax exemption and reduction for RoK products, will create more opportunities for RoK products in the Vietnamese market, he said.
Techfest Vietnam 2017 Opens in Hanoi
The annual startup promotion event Techfest Vietnam 2017, themed “Ecosystem connect”, began in Hanoi on November 14.
Addressing the opening ceremony, Deputy Prime Minister Vu Duc Dam stated Vietnam welcomes international investors and scientists to join its innovative efforts, making creative startup a practical movement. A legal framework coupled with support from the government and succeeded pioneers are key to the startup development.
Vietnam and the United States have made big leaps in relations since the normalization of diplomatic ties. On the occasion of President Donald Trump’s recently-concluded visit to Vietnam, BizLIVE reviews milestone events in the Vietnam-U.S. relationship.
Vietnam’s National Assembly deputies have approved a solution capping the country’s budget overspending at 204 trillion dong (nearly $9 billion) next year, equivalent to 3.7% of GDP.
According to the resolution, state budget collection for 2018 is set at 1,319 trillion dong ($58.1 billion) while state budget expenses are estimated at 1,523 trillion dong ($67.1 billion).
Vietnam’s two largest airlines VietJet Air and Vietnam Airlines are taking moves to launch their respective direct air service to the United States as soon as the U.S. aviation authority gives a green light.
The State Bank of Vietnam (SBV), the country’s central bank, last week net pumped 26 trillion dong ($1.145 billion) into the money market, the largest sum since February in which the Lunar New Year holiday fell. This was the third week in a row that saw the SBV’s net injections, according to SSI Retail Research.

TUAN MINH

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