The Vietnam National Trade Repository is launched on March 30. (Photo: VNA)
According to the ASEAN Trade in Goods Agreement (ATIGA), each member country will build its own national trade repository which will be connected with the ASEAN Trade Repository (https://atr.asean.org/) so as to ensure policy transparency, facilitate regional trade, and support businesses.
The VNTR, at https://vntr.moit.gov.vn, was developed by the MoIT with support from the British Government.
The portal provides updated trade information in both Vietnamese and English, including the schedules of tariff commitments in the free trade agreements (FTAs) that Vietnam has joined within the ASEAN framework, non-tariff measures, legal documents on trade, and customs clearance rules and procedures.
It also introduces the best trade facilitation practices applied by ASEAN members, along with the lists of businesses given priority in handling tax, export, import, and customs clearance procedures in the member countries of the ATIGA and the FTAs between ASEAN and partner countries.
MoIT Deputy Minister Do Thang Hai said the VNTR aims to realise Vietnam’s commitment to enhance policy transparency, facilitate regional trade, and boost businesses’ access to regional countries’ trade policies. It also serves as a search tool for State agencies to grasp the country’s commitments in ASEAN and the FTAs between the bloc and partners, thereby assisting with policy making.
Amanda Milling, Minister of State for Asia and the Middle East at the British Foreign, Commonwealth and Development Office, noted the VNTR will help improve the Vietnamese economy’s diversity and comprehensiveness by supporting micro-, small-, and medium-sized enterprises, including women-led companies, to benefit from transboundary trade, which will create an impulse for trade and investment in Vietnam.
Country has some 34,600 newly-established enterprises in first quarter
The market also welcomed the return of 25,600 enterprises, up 74% over the same period of 2021, bringing the total number of enterprises entering operations in the first quarter of 2022 to 60,200.
Country has some 34,600 newly-established enterprises in first quarter. (Photo: laodong.vn)
According to the General Statistics Office (GSO), Vietnam saw 34,600 enterprises registering to enter the market with a total registered capital of 471.2 trillion VND, with nearly 243,500 employees in the first quarter, respectively increasing 18% and 5.2%, and decreasing 0.9%, from the same period last year.
Regarding 706.7 trillion VND of additional registered capital of enterprises, the total capital expected to be added to the economy in the first three months of the year is estimated at 1.2 quadrillion VND and a year-on-year increase of 21%.
In March alone, 14,300 enterprises were established with a registered capital of 193.6 trillion VND and 93,800 employees, an increase of 96%, 127% and 29%, respectively, from the previous month.
However, the country also recorded 35,700 enterprises that were not competitive enough and registered to suspend their operation for a definite time, a rise of nearly 50% year on year. At the same time, 11,300 businesses had to stop operation to wait for dissolution procedures.
During the period, the economy also recorded 4,300 enterprises completing dissolution procedures, a year-on-year decrease of 17%; in which 3,800 enterprises had capital scale of less than 10 billion VND. Thus, an average of 17,100 businesses withdrew from the market a month.
Vietnam’s export revenue to Turkey rises over 16%
Statistics from the Ministry of Industry and Trade showed that in the first two months of 2022, Vietnam's export turnover to Turkey reached 189 million USD, up 16.3% over the same period last year.
Introducing Vietnamese goods in Turkey. (Photo: hanoimoi.com.vn)
Vietnam-Turkey bilateral trade balance in recent years has often been in surplus in favor of Vietnam. However, the proportion of Vietnam’s exports in Turkey’s total imports is still low, only about 0.5%. Many of Vietnam’s products exported to Turkey account for a small proportion, lower than those of direct competitors, except for pepper, cashew nut, fiber and rubber.
According to the ministry, Turkey is now Vietnam’s second largest export market in West Asia, just behind the United Arab Emirates (UAE).
Turkey is considered a potential market, an important gateway to the Middle East, and a transshipment site to the European Union (EU) market for many Vietnamese exports such as rice, milk and dairy products, pepper, furniture, rubber, tea, yarn, fabrics, garments, shoes and electronic goods.
Mr. Le Phu Cuong, Trade Counselor of Vietnam in Turkey, said that Vietnam needs to further encourage domestic enterprises to participate in trade promotion programs in the area, thereby helping them join transactions, and promote and introduce products at large-scale fairs and exhibitions in Turkey to enhance business cooperation opportunities with Turkish distribution enterprises and processors.
High-speed waterway service between Da Nang and Ly Son launched
The high-speed ferry running from Da Nang to Ly Son. (Photo: VNA)
The high-speed ship service connecting Da Nang city with Ly Son Island off the central province of Quang Ngai has been launched by the Phu Quoc Express Joint Stock Company.
The ship route aims to create favorable conditions for the travel of local people and tourists, and at the same time better connects Da Nang with Ly Son Island district.
The high-speed ship named Trung Trac, designed in accordance with European standards, can serve nearly 600 passengers and will shorten the travel time from Da Nang to Ly Son Island to just over 2 hours.
The first ship service is expected to be put into operation on April 9 with four trips per week. The boats depart at 8am on Tuesday and Saturday from Da Nang’s Han River Port, and at 2pm on Wednesday and Sunday from Ly Son Island.
The ticket prices range from 590,000 VND (25.8 USD) – 900,000 VND. The company is applying a 20-percent discount until April 30.
Speaking at the opening ceremony, Vice Chairman of the Da Nang People's Committee Tran Phuoc Son said that the launch of the new tourism product aims to diversify products to attract tourists after being interrupted for a long time due to the impact of the COVID-19 epidemic.
With the potential and importance of waterway tourism associated with tourism development goals, Da Nang has planned and invested in building ports and wharves, upgrading infrastructure; and developed high quality tourism products and services.
Quang Binh increases number of visitors to Son Doong Cave
Son Doong Cave. (Photo: Ryan Deboott)
The Quang Binh People’s Committee has just approved increasing visitors who wish to conquer Son Doong, the world’s largest cave, in 2022 to stimulate tourism demand and remove difficulties for businesses affected by the COVID-19 epidemic.
Accordingly, the provincial authority agreed to add 5 visit programs, equivalent to 50 conquerors for the tour to Son Doong with the selling price of 2,500 USD a pax.
Oxalis, the tourism product operator for Son Doong Cave, has sold out all seats of this tour this year with 1,000 tickets for domestic tourists.
In order to continue to serve, fully and promptly meet the travel needs of tourists when participating in this attractive tour, Oxalis has focused on investing in improving service quality and ensuring safety, bringing peace of mind, trust and satisfaction of tourists.
According to the Quang Binh Department of Tourism, along with the attraction of the tourism product, other ecotourism and adventure discovery products in Phong Nha-Ke Bang and the evergreen forest of the Truong Son mountain range in the south of the province are explored by tourists through digital platforms with many bookings for the upcoming holidays of April 30 and May 1./.