Vietnam Business News

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• State audit office looks for increased influence
• Law gives boost to commercial arbitration
• Province hosts wood products fest
• Italian businesses eye investments
• ANZ Bank joins Brilliant Cards ATM network
• Ministry forecasts food price hikes next month
• State bank decision stabilises markets
• Indian textile sector spins yarns at expo
• Czechs enter shipyard deal
• 51 Vietnam listed firms rated AAA, CRV says

State audit office looks for increased influence Posted: 28 Sep 2010 09:36 PM PDT The State Audit of Vietnam (SAV) has set a target to establish comprehensive and effective relations with other institutions in all fields by 2020 to improve their performance. The target was made public at a workshop in Hanoi September 28, under a co-sponsorship of the UK's National Audit Office (UK NAO), as part of the State [...]

Law gives boost to commercial arbitration Posted: 28 Sep 2010 09:33 PM PDT Commercial arbitration, as an alternative to lawsuits to resolve disputes, has not become popular in Viet Nam. In the country’s two leading cities, Ha Noi and HCM City, the number of commercial lawsuits averages 1,200-1,500 cases per year resolved by the People’s Courts, compared to about 60-80 cases per year handled by commercial arbitration centres. In [...]

Province hosts wood products fest Posted: 28 Sep 2010 09:32 PM PDT The nation’s first Forest Product Festival in Binh Dinh Province next March would offer opportunities for domestic and international oganisations to develop long-term cooperation and investment, organisers said yesterday. The central coastal province of Binh Dinh is one of the nation’s major producers of wood products. Le Huu Loc, deputy chairman of the Binh Dinh Province People’s [...]

Italian businesses eye investments Posted: 28 Sep 2010 09:32 PM PDT A delegation of Italian engineering companies and contractors in transport, energy and environment sectors will visit Viet Nam from Sunday to Wednesday, Trade Commissioner Marco Saladini said in Ha Noi yesterday. The purpose of the mission was to aid the nation’s rapid development by improving the country’s infrastructure, presenting Italian companies with co-operation opportunities, Saladini said. Over [...]

ANZ Bank joins Brilliant Cards ATM network Posted: 28 Sep 2010 09:31 PM PDT Australia and New Zealand Banking Group (ANZ) has joined the Viet Nam Brilliant Cards network (VNBC) which will help ANZ customers access 1,500 ATMs operated by VNBC members across Viet Nam. VNBC member bank customers will be able to access more than 100 ANZ ATMs nationwide.

Ministry forecasts food price hikes next month Posted: 28 Sep 2010 09:30 PM PDT Prices for some essential goods will increase slightly next month, forecasts the Finance Ministry’s Price Management Department. The increase will stem partly from the high demand for temporary stock as the Lunar New Year approaches, it says. Floods anticipated during next month’s wet season will also push prices for food and other essential goods higher in central [...]

State bank decision stabilises markets Posted: 28 Sep 2010 09:29 PM PDT Shares advanced on the nation’s stock exchanges yesterday as the central bank’s final decision on Circular No 13 helped settle investor psychology. The State Bank of Viet Nam’s decision, issued late Monday, allows banks to lend 25 per cent of their non-term deposits and count State Treasury and loans from other credit institutions of terms of [...]

Indian textile sector spins yarns at expo Posted: 28 Sep 2010 09:00 PM PDT Twenty-four Indian leading enterprises are displaying the latest range of fabrics and yarns at the sixth Indian Textile Exhibition that opens today in downtown HCM City. “The two-day event aims to strengthen trade ties between the two countries, particularly in the fastest growing man-made textiles sector,” said Srijib Roy, joint director of the Synthetic and Rayon [...]

Czechs enter shipyard deal Posted: 28 Sep 2010 08:58 PM PDT Vietnamese and Czech enterprises agreed to co-operate in shipbuilding and ship repair industries as well as technological transfer at a business conference held on Monday in the capital. The agreement is confirmed by a contract signed by PSJ and Nosco Vinalines, a memorandum of understanding between PSJ and Vinalines Shipyard and a protocol between CREA Hydro&Energy [...]

51 Vietnam listed firms rated AAA, CRV says Posted: 28 Sep 2010 09:08 AM PDT Credit Rating of Vietnam JSC (CRV) has for the first time released a credit rating report for listed firms on Vietnam bourses, saying that 51 ones, or 10.8% of the total, were rated AAA level, Dau tu Chung khoan reported September 28. Credit Rating of Vietnam JSC (CRV) has for the first time released a credit [...]

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