Vietnam Business News

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• Protecting IP can help attract investment
• Metalwork opportunities discussed
• HCM City promises to help businesses
• Firms given more time to print invoices
• EVN’s revenue from telecommunication reaches over 60pct
• Work on Vietnam’s third largest hydropower plant begins
• Abundant supplies in 2011 biggest challenge for builders, experts say
• Increase in FDI import widens trade gap, economists warn
• Vietnam economy posts high growth but low quality in last 5 years
• Vietnam plastic industry aims for 20pct growth by 2020

Protecting IP can help attract investment Posted: 13 Jan 2011 08:45 PM PST A good intellectual property (IP) system could make a country more attractive to investment, delegates at a meeting of European and Asian organisations heard in Ha Noi yesterday. The meeting between the European Property Office (EPO) and ASEAN IP offices, the sixth of its kind, is being held to further promote the use of patents and [...]

Metalwork opportunities discussed Posted: 13 Jan 2011 08:44 PM PST Vietnamese mechanical engineering businesses would have more opportunities to seek export markets and new link-ups with foreign partners, said Christoph Miller, managing director of EMO Hannover in Ha Noi this week. The venue, which has become a main meeting place for the international metalworking industry, will be staged in the German city again from September 19 [...]

HCM City promises to help businesses Posted: 13 Jan 2011 08:43 PM PST Enterprises can look forward to more support from HCM City authorities in 2011, a top city official has said. The city would continue the stimulus programme to support companies and add more value to products, Nguyen Thi Hong, vice chairwoman of the municipal People’s Committee, told the Sai Gon Giai Phong (Liberated Sai Gon) newspaper. Support will [...]

Firms given more time to print invoices Posted: 13 Jan 2011 08:42 PM PST Roughly 100,000 small firms or 30 per cent of the country’s total businesses will be given an extra year to comply with new regulations regarding the printing of invoices. According to new regulations which took effect on January 1, businesses were required to print their own invoice books rather than acquiring them from tax agencies as [...]

EVN’s revenue from telecommunication reaches over 60pct Posted: 13 Jan 2011 08:39 PM PST Electricity of Vietnam (EVN) has reported its business and production results in 2010 with total telecommunication revenue of only 2.885 trillion dong, equaling to 61 percent of the year’s plan. The above figure was given at the end of the year summation conference and set business and production targets in 2011 held on January 10. In 2010, [...]

Work on Vietnam’s third largest hydropower plant begins Posted: 13 Jan 2011 08:38 PM PST Construction of the $1.8 billion Lai Chau Hydropower Plant started January 5. Located in Muong Te District’s Nam Hang Commune, the 1,200 MW plant is the third largest of its kind in the country, after Hoa Binh and Son La. All three plants are on the Da River. Electricity of Vietnam (EVN), the nation’s sole power distributor, [...]

Abundant supplies in 2011 biggest challenge for builders, experts say Posted: 13 Jan 2011 08:36 PM PST Abundant supplies of houses and apartments are set to be the biggest challenge in 2011 for property firms, experts said. Statistics show there are up to 80,000 unsold apartments and around 40,000 more will be available this year. The real estate market meanwhile remains quiet. Some property enterprises already closed for the Lunar New Year holidays, as [...]

Increase in FDI import widens trade gap, economists warn Posted: 13 Jan 2011 08:35 PM PST Despite the strong flow of foreign direct investments (FDI), economists are concerned on the increasing number of foreign investors switching from producing to importing, which will widen the trade deficit. In 2008, Sony Vietnam announced shutting down factories to switch to importing products Sony had made in other countries. Visual Products Company of Japan’s Toshiba Group said [...]

Vietnam economy posts high growth but low quality in last 5 years Posted: 13 Jan 2011 08:34 PM PST The five-year summation meeting (2005-2010) on implementing the sustainable development strategy orientation in Vietnam on January 7, 2011 in Hanoi gave many figures on the growth quality of Vietnam. During past five years, although Vietnam’s GDP posted fairly high growth, averaging at 7 percent per year, the quality and efficiency of the economy has remained low. [...]

Vietnam plastic industry aims for 20pct growth by 2020 Posted: 13 Jan 2011 08:33 PM PST Vietnam should work out a long-term development strategy to help the plastic industry gain a remarkable growth at 20 percent by 2020, local experts said at a conference in Hanoi January 2. Currently, Vietnam has more than 1,000 plastic companies which are mainly in HCM City and the southern provinces of Dong Nai, Binh Duong and [...]

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