04:01 (GMT +7) - Tuesday 23/10/2018


November 22

Released at: 15:41, 22/11/2017 PRESS WATCH

November 22

VET's round-up of news from Vietnamese media for November 22.

US DOC hits tool chests and cabinets with anti-dumping duties

The US Department of Commerce (DOC) has announced its affirmative preliminary determinations in anti-dumping duty (AD) investigations into the import of tool chests and cabinets from Vietnam and China. The Vietnam Competition Authority at the Ministry of Industry and Trade late last week announced that the DOC calculated a preliminary dumping rate of 230.31 per cent on Vietnam’s producers and exporters. The preliminary dumping rate for China is from 90.40 per cent to 168.93 per cent. Goods subject to these investigations are classified under the Harmonized Tariff Schedule of the United States (HTSUS) categories 9403.20.0021, 9403.20.0026, 9403.20.0030 and 7326.90.8688, but may also be classified under HTSUS category 7326.90.3500.

Beer stamping policy ended

According to the Ministry of Industry and Trade (MoIT), Deputy Prime Minister Trinh Dinh Dung has approved its proposal to end the beer stamping policy, which could cost businesses VND1.7 trillion ($74.9 million) a year if it took effect. On October 23, the ministry submitted a document to the Prime Minister to end the implementation of the policy, which should have taken effect from the beginning of 2014 if the draft decree was approved.

MPOS introduces new payment solution for smartphones

The MPOS Vietnam Technology JSC introduced a payment solution for smartphones using a quick response code (QR code) to customers, mainly retail stores and restaurants, on November 20. Unlike previous QR code payment solutions provided by banks integrated at points of sale, the MPOS solution is integrated in a small device attached to smartphones. The solution, which meets the international standards of EMVCo organization, allows users to use internet banking services to implement transactions by scanning QR codes.

Lazada leads the way in e-commerce

Lazada Vietnam, Thegioididong.com, and Sendo are the Top 3 e-commerce platforms in Vietnam, according to a study by the iPrice Group, a Malaysia-based online shopping aggregator. iPrice conducted a survey on e-commerce markets in Thailand, Malaysia, and Vietnam. Its findings showed that Lazada is the top choice among online shoppers in these Southeast Asian countries. In Thailand, Lazada has a traffic share of around 52.6 per cent, followed by 11 Street with 12.2 per cent and Shopee with 4.4 per cent. Meanwhile, the Malaysian market is dominated by Lazada, with a traffic share of around 48.5 per cent, followed by 11 Street with 16.4 per cent and Lelong with 10.5 per cent.

Vietcombank offloads holdings via auction

The Bank for Foreign Trade of Vietnam (Vietcombank) received an estimated VND342.6 billion ($15.2 million) from selling its entire stakes in the Saigon Bank for Industry and Trade (SaigonBank) and the Vietnam Cement Finance Company (CFC). Vietcombank offered 13.25 million shares of SaigonBank (4.3 per cent of the bank’s capital) and 6.6 million shares of CFC (10.91 per cent of the finance company’s capital) at auction, according to the Hanoi Stock Exchange.

Central Power Corporation introduces electric cars in Da Nang

Vietnam’s Central Power Corporation has put into operation two electric cars along with the country’s first charging station in the central city of Da Nang, in a bid to promote the use of clean energy. The vehicles will be used to transport guests of the corporation.

Sao Mai Group opens Mekong Delta feed plant

The Sao Mai Group has put an aquatic feed plant costing more than VND800 billion ($35.2 million) into operation at the Vam Cong Industrial Cluster in the Mekong Delta province of Dong Thap. Work began on the Sao Mai Super Feed plant in 2015 and it is the most modern of its kind in the country, as it applies a synchronous production line imported from Europe together with a 3H (health, high quality and high technology) manufacturing process. The feed plant comprises four production lines with a combined capacity of 360,000 tonnes of products per year. In the first phase, it will manufacture mixed feed for tra fish and tilapia that meet TCVN 10300 - 2014 national standards.

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