The United States Trade Representative Office announced that import tariff imposed on 7.5 billion USD EU goods will come into force from 18/10/2019.

On Monday, the Dispute Settlement Office under the World Trade Organization (WTO) greenlighted the Washington’s record tariff on a range of European goods. At the beginning of the month, a verdict of Airbus received billions of illegal subsidies from the regional countries had been delivered.

After that, the United States announced the tariff of 10% on Airbus planes made in Europe and 25% on French wines, whisky, cheese and olive.

An aircraft A350 of Airbus in France. By Reuters

In the meeting with the Italian President, Sergio Mattarella on Wednesday, Donald Trump asserted that the United States would not lose in the trade war with the European due to the remaining considerable trade inequality. “We used to be in a difficult position for many years. But now, they are the one meeting difficulties because I’m able to easily remedy the situation”, he said.

The US’s tariff on Airbus can inflict harms for many American airlines like Delta. They currently have ordered a number of billions-dollar bills with the airframe. Phil Marfuggi – the president of Cheese Importers Association of the America estimated that his firms would face an extra cost of 70000 USD for 12 containers due to arrive in the US’s port after October 18.

Robert Tobiassen – the president of the Beverage Importers Association of the America said approximately 12000 beverage importers will be suffered from the new tariff on EU wines. “The tariff will cause a potential damage to many small and medium family companies”, he said.

Gross Domestic Products (GDP) in the first nine months of 2019 is estimated to increase by 6.89% compared with the same period last year and is the highest increase in first nine months over last nine years.

According to the latest report of General Statistic Office, GDP of the third quarter of 2019 was estimated to increase by 7.31% compared with the same period last year, higher than the increase of 6.82% and 6.73% of the first and the second quarter, respectively. In general, GDP of the first nine months of 2019 was estimated to increase by 6.98% in comparison with the same period last year, which is the highest increase in nine months over the last nine years. In the general increase of the entire economy, the agriculture, forestry and fishery sector witnessed an increase of 2.02% (increased by 3.7% compared with the same period in 2018), contributed 4.8% to the gross growth. Industry and construction sector and service sector grew 9.36% and 6.85% and contributed 52.6% and 42.6% to the gross growth respectively.

According to the General Statistic Office, the major motivation in the first nine months of economic growth was the processing industry (increased by 11.37%) and market services (wholesale and retail; financial activities, banking and insurance; transportation and warehouse, and information and communication grew 8.31%, 8.19%, 7.82% and 7.65% respectively)
In terms of economy structure in the nine months, the agriculture, forestry and fishery sector accounted for 13.2% GDP, industry and construction sector comprised 33.98% GDP; and service sector made up 42.74% GDP.

Product tax excluding product subsidy accounted for 10.08% (equivalent structure of the same period 2018 was 13.94%, 33.50%, 42.51%, 10.05%).

As far as the proportion of GDP is concerned in the nine months of 2019, the final consumption increased by 7.20% compared with the same period of 2018, accumulated asset grew 7.68%, export of goods and services rose by 7.41%, import of goods and services increased by 8.78%.

On October 4, 2019, Viglacera Corporation held a briefing meeting to evaluate production and business results in the third quarter and the first nine months of the year, as well as deploy the production and business tasks for the last 3 months of 2019. Viglacera’s result in the first 9 months of the year has recorded that the parent company’s profit has reached and exceeded their plan.

Attending the meeting were Mr. Nguyen Van Tuan – Chairman of the Board of Directors, Mr. Nguyen Anh Tuan – General Director, members of the Board of Directors, Supervisory Board, and Deputy General Directors together with the unit directors and the key officials of departments from the Corporation.

Mr. Nguyen Anh Tuan – Deputy General Director of the Corporation reported the overall evaluation of business results in the third quarter, the first 9 months of 2019

According to the evaluation report, the results of the business plan implementation in September include: profit before tax of the whole Corporation reached 103% of the monthly plan, and nine-month accumulation reached 109% of the nine-month plan and 80% of the whole 2019 plan.

Ms. Tran Thi Minh Loan – Director of Finance and Accounting Department & Ms. Pham Ngoc Bich – Head of Supervisory Board evaluated the recorded figures in the report on Business Results of Quarter III and in the first 9 months of 2019

The construction materials market in general is still in a difficult period, but with the support of the real estate field, the Corporation’s other targets basically follow the plan from the beginning of the year. Achievements from the industrial parks’ real estate sector proved the Corporation’s right decision.

Mr. Nguyen Van Tuan – Chairman of the Board of Directors chaired the meeting

Based on the results achieved in the third quarter and in the first 9 months of 2019, Viglacera sets a target plan for the last 3 months of 2019 including continuing to follow the monthly targets of each unit and each group and resolving promptly the arising problems to well achieve the committed plan. Exports have been specially focused and elaborated with a detailed implementation plan right from the fourth quarter of 2019 and prepared for the 2020 plan with the aim at reducing the pressure of domestic competition as well as affirming the Viglacera brand.

Mr. Nguyen Anh Tuan – General Director of the Corporation at the meeting

In order to complete the set plan, General Director Nguyen Anh Tuan said: “The overall market in this year and the next year will still be in difficulty, and the competitiveness will be greater. After this meeting, all unit Directors and officials are requested to concentrate on setting up a specific action plan in production and business activities, overcoming all difficulties in order to complete the fourth quarter committed plan and the 2019 plan”. As a preparation for the 2020 plan, the General Director ordered the units to determine the orientations for product development, to readily take any opportunities and to anticipate any difficulties to be proactive in every situation. In addition, the divestments of the Corporation at the Red Brick Block Units should be implemented in accordance with the schedule committed at the General Meeting of Shareholders.

From the achieved results, it shows that Viglacera is proactively and actively implementing the planned targets with the determination to complete the business and production plan. Facing with the common difficulties of the whole market, Viglacera has been maintaining production and business activities in the fields of real estate and construction materials, ensuring the progress of investment projects, proactively proposing synchronous and timely measures in production and business administration to scomplete the plan for the fourth quarter and the whole of 2019.

After inauguration in the afternoon September 29, Bac Giang – Lang Son highway shortens traveling time between Hanoi and Lang Son from 3.5 hours to 2.5 hours compared with Highway 1.

The project Bac Giang – Lang Son highway has a total investment of 12.189 billion VND, including 2 components: 100km enhanced Highway 1 through Bac Giang and 64km Bac Giang – Lang Son City express way.

The highway starts at km45+100 intersecting Highway 1 in Mai Sao commune, Chi Lang district, Lang Son and ends at km108+500 connecting Highway 1 with Hanoi – Bac Giang. The highway is 25m wide including 4 lanes and 2 emergency stopping lanes with a designed speed of 100km/hour.

Bac Giang – Lang Son highway before inauguration. Image: Bá Đô.

Speaking at the inauguration, The Deputy Prime Minister Trinh Dinh Dung highlighted that this is the lifeline route being one of 7 radial highways to Hanoi. This route will ensure regional provinces’ national defense, reduce congression on the Highway 1 and promote the provinces’ services and production.

The Deputy Prime Minister recognized the attempt of the investors and the locals in basically completing the inauguration within less than 2 years as well as asked Ministry of Transport and investors continuously implement Huu Nghi – Chi Lang and Dong Dang – Tra Linh (Cao Bang) route for a synchronized connection with Bac Giang – Lang Son route.

Mr. Trinh Dinh Dung said the Government has planned road system by 2020; and by 2030 the whole country will have 6.411 km of highway in all 3 regions.

The project Bac Giang – Lang Son was commenced construction in 2015; however, because of the lack of resource and management capacity of the investors at that time, the project was delayed nearly 2 years. Until June 2017, the highway 1 component only reached 13% of output and expressway component was not deployed. The head investor at that time, Mr. Nguyen Van Duong (under UDIC Company) was criminally prosecuted in the case of hi-tech gambling, therefore, the project was completely suspended.

In June 2017, new investors were invited to join the Bac Giang highway project by the Ministry of Transport. After 2 years conducting, the project has reached the scheduled progress set by the Government and the Ministry of Transport.