The newsletter from CCIPV - 15 Aug 2022
The Bulletin Edition is a weekly newsletter from the Chamber of Commerce and Industry Portugal - Vietnam that provides a well-appointed briefing on the latest news, offering a unique and informed view and a swathe of recommendations from our experts about Vietnam and Portugal. We provide industry insights and considered reporting from across both countries. Stay informed and inspired with our bulletin.
Welcome to the second issue of The Bulletin Edition!
This week we focus mainly on Vietnam matters since in Europe, and particularly in Portugal, the business is slowing down until the end of August due to the Summer Holidays.
We start with the status of the power system and implementation of national electricity planning, with a letter issued on the 25th of July 2022, by the Ministry of Industry and Trade (MOIT), reporting to the Government on the implementation of provisions under the Power Master Plan 8 (PDP 8).
As per Bloomberg, Vietnam’s headline inflation slowed more than expected in July, allowing room for the central bank to stay accommodative to support the economy’s recovery. Some good news comparing the figures that Europe is facing.
Continuing with excellent news, Vietnam is reaching the third largest export country of clothing in the world, and the 133,700 newly registered and reopened enterprises in the first seven months of 2022, are signs that the economy is still raising by 26.8 percent over the same period last year.
As you may know, the ASEAN Foreign Ministers' Meetings last week occurred at a time when the region was seeing ructions, be it in the Taiwan Strait, Myanmar or the war in Ukraine. ASEAN can boast that it has retained its convening power, but this in itself might be insufficient. Here, you can discover the 6 main points discussed in that meeting.
August is still a Summer Holidays period in Portugal, and if your case, wish you a wonderful and deserved rest.
Sérgio Pereira da Silva
MY CHOICES THIS WEEK
CCIPV's Chairman attended the launching ceremony of Vietnam’s first World Trade Center
The WTC Expo is awaiting its launching on August 8 will serve as Vietnam’s first World Trade Center and provide international one-stop MICE facilities.
Latest Update From Moit Regarding Power Master Plan 8
On 25 July 2022, the Ministry of Industry and Trade (MOIT) issued Letter No. 4329/BCT-DL reporting to the Government on the implementation of provisions under the Power Master Plan 8 (PDP 8).
Vietnam Inflation Slows as Fuel Tax Cuts Keep Lid on Prices
Covid-19 wreaked havoc on both sides after the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020.
More than 19,000 enterprises join and return to market every month
Generally, there were 133,700 newly registered and reopened enterprises in the first seven months of 2022, up 26.8 percent over the same period last year. On average, there are 19,100 newly-established and reactivated enterprises per month.
Vietnam to rise to the third largest exporter of clothing in the world
The Ministry of Industry and Trade confirmed that Vietnam will rise to the third largest export of clothing in the world at the conference to connect the supply and demand of raw materials for Vietnam's textile and garment industry organized by the Trade Promotion Department under the Ministry of Industry and Trade today.
55th ASEAN Foreign Ministers’ Meeting
The ASEAN Foreign Ministers' Meetings last week occurred at a time when the region was seeing ructions, be it in the Taiwan Strait, Myanmar or the war in Ukraine.
WHAT YOU NEED TO KNOW SERIES
[what you need to know] Employee Stock Ownership Plans For Multinationals In Vietnam
Many Vietnamese employees of multinational companies that operate in Vietnam hold shares in the overseas parent by participating in the parent's employee stock ownership plan ("ESOP").
GET TO KNOW
Learn Center - Virtual Depository Information
CCIPV website has a dedicated page here with several documents related to different matters of business in Europe, Asia and in particular Vietnam and Portugal. It is a collection of free and public information from third parties.
Here are the latest documents:
THE 30 MINUTES TALK
CCIPV has at your disposal a free service of 30 minutes talk about the Vietnamese and Portuguese market, provided by a qualified and bilingual team of Portuguese and Vietnamese with extensive professional experience in several countries. Take the opportunity to use the below free of charges services.
BE A MEMBER
Dual Membership With a strong component to support companies in their internationalization, the CCIPV team has been part of the process of operations in a market, whose full potential remains to be explored. CCIPV has the knowledge, contacts, and resources to support the internationalization of your business, both in Vietnam and Portugal. ALL MEMBERS OF CCIPV ARE AUTOMATICALLY MEMBERS OF EUROCHAM VIETNAM