THE 2020-21 BUDGET OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION GOVERNMENT
The 2020-21 Budget was released today (February 26) by the Financial Secretary, Mr Paul Chan. FS unveiled a $120 billion spending plan to support enterprises, safeguard jobs, stimulate the economy and relieve people's burden.
CYBER THREATS SLOW DOWN RISE OF CASHLESS PAYMENTS
Vietnamese lenders and fintech groups are catching up with international peers on kick-starting the economy and promoting cashless transactions in the face of the coronavirus outbreak, but greater advancement always comes with new risks.
VIETNAM MAINTAINS THIRD RANK IN INTERNATIONAL LOGISTICS OPPORTUNITIES
China’s largest export items (in terms of volume) to the US by sea via container was furniture, bedding, and lamps in 2018. This accounted for 14 per cent of sea freight volumes exported to the US. Goods from this product category were hit in the tranche of tariffs applied on $200 billion worth of goods, initially 10 per cent in September 2018 before rising to 25 per cent in May 2019.
VIETNAM’S GARMENT-TEXTILE EXPECTS BOOM IN 2020
The Fourth Industrial Revolution’s impacts on production mindset and methods are tangible. An example is Duc Quan Investment and Development JSC in the northern province of Thai Binh, which has doubled its yarn output to 17,000 tonnes per year through the application of Big Data in production and management.
SUPPORT EVENT: AVCJ PRIVATE EQUITY & VENTURE FORUM
The 4th annual AVCJ Vietnam Forum will bring together over 200 leading institutional investors, private equity and venture capital professionals, and industry experts from Vietnam and beyond for an in-depth one-day discussion on one of the hottest markets in the region.
CUSTOMS CLEARANCE RESUMED AT LAO CAI BORDER GATE
Competent forces of Vietnam and China on February 8 resumed customs clearance for exports and imports at Kim Thanh International Border Gate No. 2 in the northern province of Lao Cai.
EIGHT DECREES, ONE CIRCULAR TAKE EFFECT IN FEBRUARY
The legal documents include new regulations on foreign exchange management regarding foreign currency funding of microfinance, socio-political organizations and non-governmental organizations.
HAI PHONG EYES NEW INDUSTRIAL ZONES THIS YEAR
Among these zones are the 752ha Xuan Cau-Cat Hai industrial and non-tariff zone worth more than VND14.1 trillion (US$61 million), and the 93.3ha Cau Cuu-An Lao IZ expected to cost VND845 billion ($36.3 million). The two projects are being verified by the Ministry of Planning and Investment and will be submitted to the Prime Minister for approval later.
