[Mar 25 - Apr 02, 2019] Vietnam Weekly Industrial & Logistics Highlight

08-04-2019
Nation’s industrial production surges 9.2 percent in Q1
The national industrial production index (IIP) saw a year-on-year increase of 9.2 percent in the first quarter of this year, according to the General Statistics Office (GSO). The positive growth was fueled by the processing and manufacturing industry which increased remarkably by 11 percent compared to the same period last year, head of the GSO Nguyen Bich Lam told a recent conference in Hanoi.
 
U.S.-China trade agreement reportedly 90% done
U.S. and Chinese trade negotiators have resolved most of their differences, though a few sticking points remain, the Financial Times reported late 02 April. Myron Brilliant, executive vice-president for international affairs at the U.S. Chamber of Commerce said "Ninety percent of the deal is done, but the last 10% is the hardest part, it's the trickiest part and it will require trade-offs on both sides”.
 
Manufacturing enjoys strong growth in March
Vietnam’s manufacturing sector continued to expand during January-March with signs of higher growth in March, according to a report from IHS Markit.
 
Italian equipment suppliers keen on local packaging market
Italian equipment suppliers bring the latest technologies to Vietnam's packaging and printing market.
 
Hanoi city leads FDI attraction in first quarter of 2019
Hanoi has been the country’s top attractor of foreign direct investment (FDI) this year, luring more than 4.05 billion USD in FDI projects as of March 20, 10 times higher than the same period last year. In addition, the capital city also permitted foreign investors to spend 47.27 million USD acquiring shares in Vietnamese firms in the three months.
 
Vietnam’s FDI commitments reach record high of US$10.8 billion in Q1
Foreign direct investment (FDI) commitments in the first quarter of 2019 totalled US$10.8 billion, the best first-three-month performance to date, and soaring 86.2% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown. Disbursement of FDI projects jumped to US$4.12 billion in the year to February 20, representing an increase of 6.2% year-on-year.
 
Ho Chi Minh City solicits foreign investment for 245 projects
Ho Chi Minh City announced 245 projects calling for investment in 2019, opening up opportunities for foreign investors to invest in the city.
 
First - quarter GDP growth estimated at 6.79 percent
Vietnam’s GDP growth was estimated at 6.79 percent in the first quarter of this year while efforts to maintain macroeconomic stability and curb flation continued to yield impressive results.
 
VN to raise VNĐ1.7 trillion to build national innovation centre
Việt Nam plans to raise VNĐ1.7 trillion (US$71.5 million) of investment from the private and foreign sectors to develop the national innovation centre. Building the NIC aims to boost technology and innovation capacity of Vietnamese firms and improve labour productivity and the economy’s competitiveness.
 
Vietnam ministry proposes 5% cut of tax income for SMEs
Vietnam’s Ministry of Finance (MoF) has proposed to reduce the corporate tax income (CIT) rate from the current 20% to 15 – 17% for small and medium enterprises (SMEs) in a move to buttress domestic companies. Such move is expected to reduce the state budget revenue by VND9.2 trillion (US$396.8 million) per year. The ministry's proposal is part of the government’s efforts to encourage business households to formalize and become enterprises. 
 
 

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