Vietnam Business News

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• Businesses need to grasp trade remedy measures
• VASEP proposes funding protection of Tra fish exports
• Freed Qantas duo highlights perils of doing business in Vietnam
• State Audit grilled over failure to watch crippled Vinashin
• SOE debt load hits nearly two times equity, losses mount
• Slight increase in trading on interbank market
• PetroVietnam company launches office in Malaysia
• Vietnam Air aims for 12 million passengers this year
• Rok businesses interested in Binh Duong’s investment climate
• Milking a profitable dairy industry

Businesses need to grasp trade remedy measures Posted: 02 Aug 2010 11:47 PM PDT To protect their legitimate interests, businesses are entitled to ask for investigation and trade remedy measures (TRms) to combat unhealthy competition in imports and request the WTO to deal with lawsuits that can seriously damage them. Businesses remain “vague” “Vietnam has not yet used trade remedy measures (TRms) to protect its domestic industries although it has the [...]

VASEP proposes funding protection of Tra fish exports Posted: 02 Aug 2010 11:46 PM PDT The Vietnam Association of Seafood Exporters and Processors (VASEP) has proposed setting up a fund to guarantee the quality and stabilise the prices of Tra fish under market mechanisms. The fund will be created by collecting export fees from tra fish products at a rate of US$0.05-0.1 per kg and will be managed by the Tra [...]

Freed Qantas duo highlights perils of doing business in Vietnam Posted: 02 Aug 2010 08:49 PM PDT They were two ambitious managers sent to the outer reaches of Qantas’s empire. Their job was simple: to help turn a small, loss-making airline in Vietnam into a profitable offshoot of Qantas’s no-frills Jetstar brand that would become central to its expansion into the lucrative Asian market. Daniela Marsilli first moved to Vietnam’s bustling financial capital [...]

State Audit grilled over failure to watch crippled Vinashin Posted: 02 Aug 2010 08:47 PM PDT Local media grilled the State Audit of Vietnam on Thursday over why the troubled Vietnam Shipbuilding Industry Group (Vinashin) had not been audited. Le Minh Khai, deputy head of the country’s key auditing agency, told reporters in Hanoi that an audit of Vinashin was planned in 2008 but was delayed due to the onslaught of the [...]

SOE debt load hits nearly two times equity, losses mount Posted: 02 Aug 2010 08:46 PM PDT By the end of 2008, total capital of 20 audited state-run corporations was estimated at 137.464 trillion dong, while total combined debts were recorded at around 87 trillion dong and the average ratio of payable debts on total equity was 1.8 times, according to the auditing results of state-owned enterprises, state financial institutions and state [...]

Slight increase in trading on interbank market Posted: 02 Aug 2010 08:46 PM PDT Total trading value on the interbank market in the week from July 16th to 22th was estimated at approximately 101.892 trillion dong and $1.597 billion, posting an average of 20.378 trillion dong and $319 million per day, according to State Bank of Vietnam (SBV)’s report on its website today. This week still saw a slight increase [...]

PetroVietnam company launches office in Malaysia Posted: 02 Aug 2010 08:42 PM PDT The Vietnam Petroleum Technical Services Corporation (PTSC) launched its branch office in Kuala Lumpur on August 2, paving the way for setting up PTSC's subsidiary company in Malaysia. Addressing the launching ceremony, Dinh La Thang, Head of the board of directors of the Vietnam National Oil and Gas Group (PetroVietnam), stressed that opening the office in [...]

Vietnam Air aims for 12 million passengers this year Posted: 02 Aug 2010 08:41 PM PDT Vietnam Airlines is looking to welcome around 12 million passengers aboard its domestic and international flights this year after the carrier has become a full member of the global airline alliance Skyteam. Duong Tri Thanh, deputy general director of Vietnam Airlines Corp., released the figure at a function organized in HCMC last Thursday for other Skyteam [...]

Rok businesses interested in Binh Duong’s investment climate Posted: 02 Aug 2010 08:40 PM PDT So far, Binh Duong province has absorbed 1,958 FDI projects with a total registered capital of nearly US$13.4bln. Among them, there are 462 Republic of Korea (RoK)-funded projects capitalized at more than US$1.5bln, ranking second in investment capital among countries and territories investing in Binh Duong. Rok-funded projects in the province have seen growth in both [...]

Milking a profitable dairy industry Posted: 02 Aug 2010 08:40 PM PDT The dairy milk industry development plan sets forth the targets to produce 2.6 billion liters of fresh milk equivalent and average per capita consumption of 27 liters per year by 2020. Export value will amount to US$120-130 million. Similarly, by 2025 the country will produce a total 3.4 billion liters of fresh milk equivalent with [...]

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