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March 9

Released at: 12:23, 09/03/2018 PRESS WATCH

March 9

VET's round-up of news from Vietnamese media for March 9.

VASEP calls for US to review anti-dumping penalties

The Vietnam Association of Seafood Exporters and Producers (VASEP) has requested the US review the preliminary results of an anti-dumping duty administrative review on shrimp products imported from Vietnam. In the 12th period of review (POR 12), Fimex, which was the only compulsory respondent in the administrative review, was hit with a tariff of 25.39 per cent, which is therefore imposed on all Vietnamese shrimp exporters.

European investors to maintain or raise investment

Nearly 90 per cent of European enterprises operating in Vietnam will maintain or increase their investments this year, a press conference held on March 8 by the European Chamber of Commerce in Vietnam (Eurocham) to announce the results of the Business Climate Index (BCI) survey for the fourth quarter of 2017 and the action plan for 2018 heard.

Electronics component factory opens in Bac Ninh

The Synopex Corporation’s subsidiary the Vintrig Company has opened an electronics component factory in northern Bac Ninh province, primarily supplying South Korean conglomerates such as Samsung and LG and some automakers. With investment of $30 million, the factory is called FPCB, an acronym for flexible printed circuit boards, which are also one of the company’s main products. Before opening the Bac Ninh plant, Synopex opened a wholly South Korean-owned company called Synopex Vietnam in 2014, which is a major supplier of circuit boards PBA, SMT, FPCB and other components for cameras, mobile phones and tablets, among others.

CPTPP membership evidence of greater integration

Vietnam’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) reflects its new level of regional and global integration, according to Minister of Industry and Trade Tran Tuan Anh. He told reporters on the sidelines of the CPTPP signing ceremony on March 8 in Santiago, Chile, that CPTPP membership shows Vietnam’s determination to resolutely implement the Party’s strategy and the State’s policies on undertaking proactive, intensive and extensive international integration.

MobiFone purchase of AVG shares under inspection

The Secretariat of the Party Central Committee has ordered the Government Inspectorate to speed up the inspection of the purchase of a 95 per cent holding in the AVG Audiovisual JSC by MobiFone. The Secretariat was briefed on the inspection’s results during a recent meeting chaired by Party General Secretary Nguyen Phu Trong. The deal is a very serious, complicated and sensitive case that has caught the public’s attention.

Vung Ro refinery warned over investment license revocation

The $3.2 billion Vung Ro refinery and petrochemical complex project, invested by the Vung Ro Petroleum Co. (VRP), has been warned it may see its investment certificate revoked due to long delays in construction. The project was granted an investment certificate in 2008, with total investment capital of nearly $3.2 billion and an annual capacity of 8 million tons of crude oil. The refinery is to be built on an area of 538 ha, of which 404 ha will be used for the refinery, and 134 ha, excluding sea encroachment areas, will be used for the construction of Bai Goc Seaport.

Decree issued on foreign trade promotion organizations

The government has issued Decree No. 28/2018/ND-CP on the operational principles of foreign trade promotion in Vietnam. Decree 28 regulates that foreign trade promotion organizations, whether part of a government or not, and associations established in foreign countries to conduct trade promotion in Vietnam must set up representative offices in the country. Trade promotion organizations exclude foreign traders, non-government organizations, cooperative organizations, and cultural and educational organizations, as prescribed in other legal regulations. Each foreign trade promotion organization is not allowed to establish more than one representative office in a particular city or province.

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