Vietnam Business News

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• Breakthrough urged in software sector
• French shipping line adds direct cargo service
• Nation to import natural gas after 2025
• Revised draft has higher SE listing requirements
• Foreign franchises dominate real estate sector
• Petrol stations told to halt price rises
• Ministry proposes higher export tariff on gold
• State Bank pours more capital into interbank system
• Framework needed to analyse trade pact impacts, says official
• EU rules challenge seafood exporters

Breakthrough urged in software sector Posted: 13 Nov 2010 07:35 AM PST The Software Association should promote research in advanced technologies and develop software to meet domestic demands, said Deputy Prime Minister Nguyen Thien Nhan. The Deputy PM made the request at the third Congress of the Vietnam Software Association (VINASA) opening in Hanoi on November 13 in the presence of Minister of Information and Communications, Le Doan [...]

French shipping line adds direct cargo service Posted: 13 Nov 2010 07:34 AM PST French shipping line CMA CGM’s container ship CMA CGM Otello departed the SP-PSA Port in Ba Ria-Vung Tau Province on Wednesday on its first direct route from Viet Nam to Northern Europe. It will operate on the company’s French-Asia Line 3 (FAL 3) route. The 8,488 TEU (20-foot equivalent unit), 334m vessel and nine sister ships are [...]

Nation to import natural gas after 2025 Posted: 13 Nov 2010 07:33 AM PST Viet Nam will have to import up to 17 billion tonnes of gas for domestic use annually after 2025 despite its sizeable reserves of natural gas, a senior official has said. Addressing a meeting held on Thursday to release a World Bank report titled Viet Nam Gas Sector Development Framework, Deputy Minister Industry and Trade Hoang [...]

Revised draft has higher SE listing requirements Posted: 13 Nov 2010 07:32 AM PST An amended draft on listing requirements, made by the State Securities Commission, might increase the charter capital level necessary for companies to list on Viet Nam’s stock exchanges, in an effort to improve the quality of investment options. The draft regulates that a company seeking to list on the HCM City Stock Exchange should have a [...]

Foreign franchises dominate real estate sector Posted: 13 Nov 2010 07:32 AM PST A strong foreign presence in the real estate service sector has led to an imbalance in the Vietnamese market. Experts said many investors have hired foreign companies such as CB Richard Ellis, Savills and Colliers to consult, manage and market successful real estate projects. This situation has been going on for some time and is likely to [...]

Petrol stations told to halt price rises Posted: 13 Nov 2010 07:31 AM PST The Ministry of Finance’s Price Management Department yesterday afternoon ordered petrol trading enterprises not to increase retail prices for petroleum products. Under the requirement, key petrol importers are permitted to draw more money from the petrol price stabilisation fund to compensate for their losses. From midnight yesterday, petrol trading companies were allowed to deduct funds of VND1,200 [...]

Ministry proposes higher export tariff on gold Posted: 13 Nov 2010 07:31 AM PST The Ministry of Finance has proposed to increase export tariffs on gold to restrict the export of the metal. The ministry said it had asked the State Bank of Viet Nam, the Ministry of Industry and Trade and other agencies for advice on the adjustment. Under the finance ministry’s proposal, export tariffs imposed on gold, including gold [...]

State Bank pours more capital into interbank system Posted: 13 Nov 2010 07:30 AM PST The State Bank of Viet Nam yesterday announced it would inject additional capital with longer terms into the interbank open market system, in a measure aimed at easing upward pressures on interbank interest rates. The central bank said it would add capital at two-week terms to open market operations while retaining current daily and weekly terms. It [...]

Framework needed to analyse trade pact impacts, says official Posted: 13 Nov 2010 07:30 AM PST A proper analytical framework is necessary to gauge the impact of several trade agreements signed by Viet Nam on the economy and society, a trade official says. Nguyen Thi Hoang Thuy, deputy director of the Department of Multilateral Trade Policy under the Ministry of Industry and Trade, said it was also necessary to analyse trade agreements [...]

EU rules challenge seafood exporters Posted: 13 Nov 2010 07:30 AM PST Viet Nam is implementing regulations on illegal, unreported and unregulated fishing, or IUU, set by the European Commission, according to the General Department of Seafood under the Ministry of Agriculture and Rural Development. Under the regulation, which took effect last January, Vietnamese seafood exported to the EU should have certificates verifying the fish have been caught [...]

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