Trade - Service

The State Bank of Vietnam (SBV) has achieved its goal of stabilizing the market with the sale of forex, stated Bao Viet Securities Company (BVSC).

The recently-approved Cybersecurity Law could be a useful instrument to support tax collection in a sharing economy and the internet community, according to Bui Van Nam, director general of the General Department of Taxation.

Saigon Beer Alcohol Beverage Corp (Sabeco)`s shareholders approved a new board including seven members, of which four were nominated by ThaiBev - controlled by tycoon Charoen Sirivadhanabhakdi through its local unit Vietnam Beverage.

Canada would look into steel products from four countries including Vietnam with the doubt that those imports harm Canadian producers.

Tax authorities this year aim to collect a higher state budget revenue than 5% of the estimate set by the National Assembly, stated a representative of the General Department of Taxation.

Vietnam`s trade surplus went down to US$2.54 billion from the previous number of US$3.36 billion recorded 15 days ago.

China was Vietnam`s largest supplier of computers, phones, and machinery in the first six months, according to the General Department of Vietnam Customs (GDVC).

FPT Retail holds 18% of the mobile phone retail market in Vietnam, second only to Mobile World with 45%.

Business associations have suggested state management agencies to tighten control over the origins of domestic export goods in a move to avoid risks for Vietnamese firms amidst the simmering US-China trade war.

The country is in process to ratify the trade deal, in line with current regulations, said the Ministry of Foreign Affairs

Go-Jek, through its local brand Go-Viet, on July 18 started a five-day test for two of its services, Go-Bike and Go-Send, in some districts of Ho Chi Minh City, local media reported.

Vietnam saw a budget surplus of VND2.5 trillion (US$107.58 million) in the first six months this year, indicating a sharp improvement from the budget deficit of VND20 trillion (US$860.5 million) from the same period of last year, according to the Ministry of Finance.

The market is stabilizing while liquidity is at normal level, a central bank official told Dan Tri newspaper.

Traditional grocery retailers also expressed their great concern about the support from consumers, consumer traffic to their stores and competition from other retailers, according to a survey from Nielsen Vietnam.

Vietnam`s taxi associations voiced their opinions against the extension of a ministry decision which pilots the application of technology in managing and connecting electronic contract-based passenger transportation.

In the remaining months of the year, the Insurance Supervisory Authority (ISA) under the Ministry of Finance (MoF) will step up efforts in restructuring the insurance market towards transparency, safety and efficiency.

According to the Ministry of Industry and Trade (MoIT)`s announcement, 99.3% or 2,257 out of the total 2,273 products sold by Mumuso Vietnam were imported from China.

More foreign investors have set up production bases in Vietnam to capitalize on huge export potentials from free trade agreements, especially the EU-Vietnam Free Trade Agreement (EVFTA).

This is the first time a Vietnamese private enterprise won an entire 60,000-ton Japonica rice contract for South Korea under the government - to - government procurement, stated the Vietnam Food Association (VFA).

A large trade surplus in the last 15 days of June stood in sharp contradiction to the trade deficit recorded in May, which had been expected to be extended to June by the General Statistics Office (GSO).