Most businesses which suffered damages in southern industrial zoneshave so far resumed their productions, according to the Vietnam EconomicNews on June 2.
The Ministry of Industry and Trade (MOIT)has provided timely guidance to stabilise investment and import, exportactivities, making foreign businesses feel secure about their operationsin Vietnam.
The Formosa Group’s steel projects are in theprocess of overcoming the damage and gradually resuming operations whilebauxite projects in Dak Nong and Lam Dong provinces are operatingnormally, the online newspaper said.
The Viet Trung Minerals andMetallurgy Company Limited produced its first batch of 50 tonnes ofcast iron on May 26, 2014. The company said that experts were examiningthe quality of cast iron so that it could be refined to produce thefirst batch of steel billets. Chinese and Vietnamese experts and workersare working together in this project.
Foreign invested projectsin the field of energy, including projects with the participation ofChinese contractors, are going on normally.
China is Vietnam’sone of the largest import and export markets. Therefore, many peopleexpressed their concerns that developments in the East Sea would createpressures on the Vietnamese economy.
So far, however, accordingto the Agency of Foreign Trade under the MOIT, the volume of imports,exports in the southern region has remained equal to that in the timeprior to China’s illegal installation of its Haiyang Shiyou-981 oil rigin Vietnam's exclusive economic zone and continental shelf in the EastSea. In the central region and Cat Lai Port area, there has been aslight slowdown in import, export activities because businesses areovercoming damages to resume production.
The Agency of ForeignTrade has provided guidance for the export-import management divisionsof Dong Nai and Binh Duong province to provide assistance for businesseswhich suffered damage. In Ho Chi Minh City, there has been falseinformation that Vietnam does not allow domestic businesses to tradewith Chinese partners, so some businesses did not dare open letters ofcredit (L/Cs). The Agency of Foreign Trade has released a noticeaffirming that Vietnam’s import, export management policies andmechanisms remain unchanged.
At border-crossings in Lao Cai,Lang Son and Quang Ninh provinces, there has been a slight slowdown inthe circulation of goods due to concerns among some merchants and shopowners. However, import, export activities have been stabilised sincethey found no changes in Vietnam’s policies.-VNA
The Ministry of Industry and Trade (MOIT)has provided timely guidance to stabilise investment and import, exportactivities, making foreign businesses feel secure about their operationsin Vietnam.
The Formosa Group’s steel projects are in theprocess of overcoming the damage and gradually resuming operations whilebauxite projects in Dak Nong and Lam Dong provinces are operatingnormally, the online newspaper said.
The Viet Trung Minerals andMetallurgy Company Limited produced its first batch of 50 tonnes ofcast iron on May 26, 2014. The company said that experts were examiningthe quality of cast iron so that it could be refined to produce thefirst batch of steel billets. Chinese and Vietnamese experts and workersare working together in this project.
Foreign invested projectsin the field of energy, including projects with the participation ofChinese contractors, are going on normally.
China is Vietnam’sone of the largest import and export markets. Therefore, many peopleexpressed their concerns that developments in the East Sea would createpressures on the Vietnamese economy.
So far, however, accordingto the Agency of Foreign Trade under the MOIT, the volume of imports,exports in the southern region has remained equal to that in the timeprior to China’s illegal installation of its Haiyang Shiyou-981 oil rigin Vietnam's exclusive economic zone and continental shelf in the EastSea. In the central region and Cat Lai Port area, there has been aslight slowdown in import, export activities because businesses areovercoming damages to resume production.
The Agency of ForeignTrade has provided guidance for the export-import management divisionsof Dong Nai and Binh Duong province to provide assistance for businesseswhich suffered damage. In Ho Chi Minh City, there has been falseinformation that Vietnam does not allow domestic businesses to tradewith Chinese partners, so some businesses did not dare open letters ofcredit (L/Cs). The Agency of Foreign Trade has released a noticeaffirming that Vietnam’s import, export management policies andmechanisms remain unchanged.
At border-crossings in Lao Cai,Lang Son and Quang Ninh provinces, there has been a slight slowdown inthe circulation of goods due to concerns among some merchants and shopowners. However, import, export activities have been stabilised sincethey found no changes in Vietnam’s policies.-VNA
