Trade ministry wants storage, warehousing costs cut for struggling businesses
The Ministry of Industry and Trade has called on marine transport and logistics businesses to cut fees for container storage and warehousing for companies that have reduced operations due to the COVID-19 pandemic.
Containers with goods at a port. The Ministry of Industry and Trade has called on marine transport and logistics businesses to cut fees for container storage and warehousing for companies that have reduced operations due to the COVID-19 pandemic. (Photo: VNA)
HCM City (VNS/VNA) - The Ministry of Industry and Trade has calledon marine transport and logistics businesses to cut fees for container storageand warehousing for companies that have reduced operations due to the COVID-19pandemic.
Deputy Minister of Industry and Trade Tran Quoc Khanh on August 10 sent anofficial dispatch to a number of business groups like the Vietnam LogisticsBusiness Association and Vietnam Seaports Association, port operators andshipping and logistics companies for the purpose.
It pointed out that 19 southern provinces and cities have mandated socialdistancing under the Government's Directive 16, including Ho Chi Minh City, BinhDuong, Dong Nai, and Long An, all localities with large volumes of imports andexports.
The application of social distancing and other epidemic prevention and controlmeasures means some businesses have temporarily reduced operations and facedifficulties in picking up their cargo from ports, leading to an increase inthe storage time at ports and costs, it said.
This makes it imperative to cut charges for them, it said.
It also instructed marine transport and logistics businesses and associationsto improve goods clearance and reduce container backlogs at ports andfacilitate import-export activities.
Many trade groups have complained to the ministry about a shortage of containersand high logistics and international shipping costs (that have risen 5-10 timessince before the pandemic) that have persisted since last year.
The surging costs of fuel and imported raw materials in recent months have alsocaused enormous difficulties for companies producing goods for export./.
Vietnam Railways (VNR) on July 20 added a new rail freight link from Vietnam to Belgium, with the first train departing from Yen Vien station, Hanoi, and expected to arrive at Liege City in Belgium.
A strategy for developing domestic trade between 2021 and 2030 has been signed off by Deputy Prime Minister Le Van Thanh, aiming to raise domestic trade’s proportion in the country’s GDP to 15 - 15.5 percent in the next 10 years.
Container freight trains from Vietnam to Belgium will open up a new cooperation direction to increase benefits of railway logistics services, Deputy General Director of the Rail Transport and Trade Joint Stock Company (Ratraco) Nguyen Hoang Thanh told the Vietnam News Agency (VNA).
Vietnam prioritises foreign investment projects in high technology, innovation, research and development, and projects that create favourable conditions for Vietnamese enterprises to participate in the value chain, as well as those related to promoting the digital economy and actively contributing to the country’s sustainable socio-economic development.
Despite complicated developments of the COVID-19 pandemic, Vietnam is still chosen by many foreign investors as a destination to build production bases, especially in the electronics industry, according to Fitch Solutions.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.