Vietnam Business News

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• FPT eyes Mekong Net stake
• Chairman stresses audit role in public capital
• Regulation on handling risky debts at VBSP
• Petro Vietnam reveals intentions to buy BP assets
• Few investors use financial leverage on bearish market
• Aiding electronic export to EU market
• Tien Phong Bank to collect taxes for State Budget
• NTT Solmare launches new service in Vietnam
• Northern provinces asked to boost agricultural sector
• Power supplies continue to be a problem

FPT eyes Mekong Net stake Posted: 05 Aug 2010 09:43 PM PDT Vietnamese internet provider FPT Telecom is negotiating with Mekong Net to acquire up to 60 percent of the firm, its owner and CEO Sok Channda said yesterday. "We have agreed to cooperate," the Mekong Net chief said, while emphasising that no deal has yet been struck. FPT has expressed its interest in acquiring between 40 percent and [...]

Chairman stresses audit role in public capital Posted: 05 Aug 2010 09:41 PM PDT National Assembly Chairman Nguyen Phu Trong underscored the increasingly important role of the state audit in examining and monitoring the management and use of public capital to serve socio-economic development. The Vietnamese official made the remarks to the chiefs of delegations to the 42 nd meeting of the Executive Board of the Asian Organisation of Supreme [...]

Regulation on handling risky debts at VBSP Posted: 05 Aug 2010 09:40 PM PDT Prime Minister (PM) Nguyen Tan Dung signed Decision No. 50/2010/QD-TTg on the Regulation of handling risky debts at the Vietnam Bank for Social Policies (VBSP) on July 28 in place of Decision No. 69/2005/QD-TTg of the PM dated April 4, 2005. Accordingly, this Regulation governs the VBSP and its eligible borrowers include: 1) poor households, 2) [...]

Petro Vietnam reveals intentions to buy BP assets Posted: 05 Aug 2010 09:39 PM PDT The Vietnam National Oil and Gas Group (PetroVietnam) is planning to purchase BP's stake in offshore exploration projects that BP has offered to sell. PetroVietnam is going to ask for permission from the Government and submit to the Government plans to purchase BP's stakes in offshore exploration projects. Dinh La Thang, Chairman of the Members Council of [...]

Few investors use financial leverage on bearish market Posted: 05 Aug 2010 09:37 PM PDT As the stock market is moving down, few investors want to use debt instruments to invest in stocks although securities companies have cut lending rates for those financial leverage products. Viet Dragon Securities Co. as of mid-July had decreased the fee from 0.05% to 0.045% per day for the product called joint investment between the company [...]

Aiding electronic export to EU market Posted: 05 Aug 2010 09:35 PM PDT The European Union (EU) is a vast and potential market for Vietnamese exports, particularly electronic items and computers. However, to set a foothold in the EU market Vietnamese producers and exporters of electronic items must strictly observe EU’s regulations on restricted use of hazardous substances (RoHS). Shiny export prospect Despite global economic recession, the export value of [...]

Tien Phong Bank to collect taxes for State Budget Posted: 05 Aug 2010 09:34 PM PDT Tien Phong Bank has launched a new service collecting tax for the State Budget through its banking system starting on August 2, 2010. Accordingly, enterprises and individuals can quickly and conveniently pay taxes and fees to the State Budget by going to the bank's branches nationwide. Customers already having a bank account at the bank can [...]

NTT Solmare launches new service in Vietnam Posted: 05 Aug 2010 09:12 PM PDT Japan's NTT Solmare Corporation signed a deal to provide digital Japanese comic books on mobile devices in Vietnam on August 5 in Hanoi. The deal grants the Tinh Van group of Vietnam domestic monopoly rights to distribute the products of Japan's leading mobile comic books site provider, and all the products will be translated into Vietnamese [...]

Northern provinces asked to boost agricultural sector Posted: 05 Aug 2010 09:08 PM PDT The northern provinces of Hung Yen, Ha Nam, Thai Binh and Bac Ninh surrounding Hanoi have great advantages to promote the development of their agricultural sector. Party General Secretary Nong Duc Manh made the statement at a three-day meeting with the provinces' leaders, which ended on August 5, to check their preparations for the Communist Party [...]

Power supplies continue to be a problem Posted: 05 Aug 2010 09:04 PM PDT Electricity of Viet Nam (EVN) yesterday announced that power supplies this month would continue to face difficulties due to unpredictable weather patterns and repairs under way on many of the country’s thermal power plants. According to EVN estimates, this month, the power sector could generate an average 300 million kWh per day, 1 million kilowatts higher [...]

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