Vietnam Business News

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• Foreign investors receive licences to trade
• APEC Securities partners with grocer
• Banks told to report on loans
• 2010 Techmart opens in Quang Ninh
• US increases tariffs on Vietnamese shrimps
• PetroVietnam Gas plans September IPO
• Ministry cuts red tape for some steel product imports
• Capital rules mean banks have to attract $1.56bil in four months
• Polaris Soft says MHB Vietnam goes live with Intellect GUB
• JAL codeshares with Vietnam Airlines

Foreign investors receive licences to trade Posted: 07 Aug 2010 09:33 PM PDT The Viet Nam Securities Depository in July issued securities trading licences for 123 new foreign investors, including 14 institutions and 109 individuals. From January-July, 187 foreign institutions and 620 foreign individuals received licences to trade in the domestic stock market, raising the total number of foreign investors to 4,396. Foreign investors bought a net VND555 billion (US$29.2 [...]

APEC Securities partners with grocer Posted: 07 Aug 2010 09:33 PM PDT APEC Securities has bought 393,000 shares in grocery store owner Tong Bach Hoa Co, giving it a 12.6 per cent stake. The stockholding allowed APEC Securities to invest in the company's real estate projects, including the construction of a housing estate over an area of 24,882sq.m. The project is expected to start in early 2011 and once [...]

Banks told to report on loans Posted: 07 Aug 2010 09:32 PM PDT The State Bank of Viet Nam has issued an official dispatch 5851/NHNN-TD requiring four banks to report their loans on infrastructure development projects. The banks are the Bank for Foreign Trade of Viet Nam (Vietcombank), the Bank for Industry and Trade of Viet Nam (Vietinbank), the Bank for Agriculture and Rural Development of Viet Nam (Agribank), [...]

2010 Techmart opens in Quang Ninh Posted: 07 Aug 2010 09:31 PM PDT The Red River Delta Technology and Equipment Fair (Techmart) opened in Quang Ninh province on August 6. The fair attracted 40 research institutes, scientific and technological centres and universities, and 20 provincial departments of science and technology as well as 86 businesses, showcasing 841 technologies and equipment. It also has 18 stalls introducing 35 technologies and [...]

US increases tariffs on Vietnamese shrimps Posted: 07 Aug 2010 09:31 PM PDT The US Department of Commerce (DoC) has announced final results of the fourth administrative review on Vietnamese shrimps exported to the US, which was conducted from February 1, 2008 to January 31, 2009. According to the final results, only one Vietnamese shrimp exporter enjoyed tax reduction while the remaining companies must pay higher duties compared to [...]

PetroVietnam Gas plans September IPO Posted: 07 Aug 2010 09:30 PM PDT PetroVietnam Gas Corporation, one of the three leading affiliates of State-owned oil giant PetroVietnam, will make its initial public offering on the HCM City Stock Exchange next month, the company has announced. PetroVietnam Gas (PV Gas) plans to sell shares in the IPO representing 10 per cent of its equity of over VND18.9 trillion (US$1 billion). Shares [...]

Ministry cuts red tape for some steel product imports Posted: 07 Aug 2010 09:29 PM PDT The Ministry of Industry and Trade recently issued Circular No 31/2010/TT-BTC on offering automatic import licences for some steel products, according to Nguyen Thanh Bien, deputy minister of Industry and Trade. Under the circular, domestic importers of non-alloy flat rolled steel products with a width of over 600mm and the zinc-plated and coloured steel products will [...]

Capital rules mean banks have to attract $1.56bil in four months Posted: 07 Aug 2010 09:28 PM PDT As of the end of last month, 23 commercial banks had submitted their plans to the State Bank of Viet Nam (SBV) for increasing their charter capital to VND3 trillion (US$156.25 million) this year in accordance with new regulations. None of the plans called for a bank closure or merger with another institution, the SBV said [...]

Polaris Soft says MHB Vietnam goes live with Intellect GUB Posted: 07 Aug 2010 09:24 PM PDT Polaris Software Lab Ltd announced that Mckong Housing Bank or MHB, Vietnam’s fifth largest state-owned bank, had gone live on Polaris’ Intellect Global Universal Banking or GUB. The solution will enable MHB to realise its aggressive growth and expansion plans by enabling the fastest time to market for its new products and services rollout. Intellect GUB would [...]

JAL codeshares with Vietnam Airlines Posted: 07 Aug 2010 08:44 PM PDT Japan Airlines (JAL) and Vietnam Airlines (VN) will expand the scope of their bilateral agreement from October 1, 2010, to again offer VN-operated codeshare flights between Nagoya (Chubu) and Ho Chi Minh, as well as between Tokyo (Narita) and Hanoi. Reservations and ticket sales will start tomorrow. From October 1, JAL and VN will be able [...]

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