Vietnam Business News

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• Vietnam’s first nuclear power project may start in 2013
• Vietnam the target of int’l card crime
• New council formed to fight trade fraud
• VN banks heed call to lower interest rates
• Property developers change tack
• Private sector plays greater economic role
• Vietnam cleans up the insurance market
• Unitel launches 3G services in Laos
• Vietnamese companies penetrate Cambodian market
• Commercial pilots to be trained in Vietnam

Vietnam’s first nuclear power project may start in 2013 Posted: 16 Oct 2010 09:02 AM PDT Electricity of Vietnam Group (EVN) and its Russian partner, Rosatom Group, will sign a cooperation agreement on construction of Ninh Thuan Nuclear Power Plant 1 during Russian President Dmitry Medvedev's visit to Vietnam in late October 2010. Phan Minh Tuan, chief of EVN's preparation committee for Ninh Thuan nuclear power and renewable projects, confirmed that EVN [...]

Vietnam the target of int’l card crime Posted: 16 Oct 2010 07:20 AM PDT The rate of forged transactions by cards in Vietnam was sometimes three times more than the world average and ten times over the regional average, reported the Vietnam Banking Association on September 30. The ratio reduced early this year, but it was still higher than the world average and three times that over the regional average. According [...]

New council formed to fight trade fraud Posted: 16 Oct 2010 07:09 AM PDT The consultancy council for warning and preventing trade fraud in certificates of origin (C/O) under the Vietnam Chamber of Commerce and Industry (VCCI) made its debut at a ceremony in Hanoi on October 14. At the ceremony, VCCI's Vice President Pham Gia Tuc said that the council aims to protect Vietnamese producers and enterprises, as many [...]

VN banks heed call to lower interest rates Posted: 16 Oct 2010 07:08 AM PDT Several commercial banks yesterday began lowering their deposit interest rates by 0.2 percentage points to 11 per cent per year in compliance with an agreement made between the Viet Nam Banking Association (VNBA) and the State Bank of Viet Nam. The agreement, which took effect yesterday, requires banks to cut interest their rates to no more [...]

Property developers change tack Posted: 16 Oct 2010 07:05 AM PDT Property developers have shifted their investment to the promising real-estate segment of condo-hotels, according to a report in the Thoi bao kinh te Viet Nam (Vietnam Economic Times) newspaper. Property developers have shifted their investment to the promising real-estate segment of condo-hotels, according to a report in the Thoi bao kinh te Viet Nam (Vietnam Economic [...]

Private sector plays greater economic role Posted: 16 Oct 2010 07:04 AM PDT The private sector has played an important role in the national economy in recent years, and now contributes 47 per cent of GDP and 54 per cent of jobs. The private sector has played an important role in the national economy in recent years, and now contributes 47 per cent of GDP and 54 per cent [...]

Vietnam cleans up the insurance market Posted: 16 Oct 2010 06:42 AM PDT The draft law on the amendments and supplements to the Business Insurance Law has been completed before being submitted to the NA for approval at the forthcoming meeting from October 20 to November 27. The Ministry of Finance said that these amendments are necessary to heighten the responsibilities and mandates of state agencies, businesses and [...]

Unitel launches 3G services in Laos Posted: 16 Oct 2010 06:42 AM PDT The Star Telecom company (Unitel) has launched 3G mobile services in 17 cities and provinces of Laos, General Director of the company Nguyen Duy Tho announced on October 15. Unitel's 3G network currently takes the lead in Laos with 500 base transceiver stations, 13,000 km of optic cables and a stable speed of 7.2Mbps, Tho said. It [...]

Vietnamese companies penetrate Cambodian market Posted: 16 Oct 2010 06:41 AM PDT A trade fair showcasing Vietnamese and Cambodian industrial products will take place in the Cambodian capital city of Phnom Penh from December 15-18. At a press briefing on October 15, Vice Chairman of the HCM City Mechanical Engineering Association, Pham Ngoc Tuan, said that the event will help Vietnamese businesses to promote their products and seek [...]

Commercial pilots to be trained in Vietnam Posted: 16 Oct 2010 06:40 AM PDT The Vietnam Airlines Corp. and the Bay Viet (Viet Flight) Flight Training Joint Stock Company have made a deal to train 60 pilots in Vietnam during the 2010-2012 period. Under the contract, signed in Ho Chi Minh City on October 14, every 72-week training course will be held in Vietnam and France, each with 20 trainees. [...]

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