Vietnam Business News

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• New SSC draft guidelines to continue margin lending ratio
• Trade between VN-Myanmar up
• Vung Tau approves 30 new projects
• Electronic tax collections ‘the best’
• Firms urged to build trademarks
• Seminar seeks gold exchange
• Two airlines fail to pay fuel bills
• Chinese produce falls from favour
• PM Dung urges US firms to invest more in Viet Nam
• Timber industry misses export target

New SSC draft guidelines to continue margin lending ratio Posted: 10 Jun 2011 08:48 PM PDT In its draft guideline on margin trading issued on Thursday, the State Securities Commission would continue to restrict the margin ratio to 30:70 – a ratio market insiders are saying is too restrictive. Under the guideline, brokerages would be able to loan up to 30 per cent of the value of a securities transaction, while [...]

Trade between VN-Myanmar up Posted: 10 Jun 2011 08:47 PM PDT Two-way trade between Viet Nam and Myanmar reached US$65 million during the first five months of this year, up 42 per cent year-on-year, according to Myanmar Customs Department’s statistics. Of the total, $30 million came from Viet Nam’s exports, a yearly rise of 123 per cent including steel, garment materials, pharmaceutical, electronic component, construction materials [...]

Vung Tau approves 30 new projects Posted: 10 Jun 2011 08:47 PM PDT The southern province of Ba Ria – Vung Tau granted licences to 30 new projects worth a combined US$521 million since the beginning of the year, according to the provincial Department of Planning and Investment. Eleven of the 30 projects include foreign investments. During this period, the province also revoked the investment licences of four [...]

Electronic tax collections ‘the best’ Posted: 10 Jun 2011 08:47 PM PDT Applying information technology (IT) management in processing personal income tax is integral to the successful implementation of a Law on Corporate Income Tax, according to the General Director of the FPT IS, Duong Dung Trieu. Trieu said that applying IT for personal income tax (PIT) purposes could not only solve technological problems related to tax [...]

Firms urged to build trademarks Posted: 10 Jun 2011 08:46 PM PDT Vietnamese businesses and their counterparts in other developing countries should focus on developing their brands and trademarks to become competitive both at home and abroad, a seminar in HCM City on Thursday heard. Louis Chan, legal counsel for Procter&Gamble Asia Pte Ltd, said a brand was a “personality” that identifies a product or service to [...]

Seminar seeks gold exchange Posted: 10 Jun 2011 08:45 PM PDT A national gold exchange centre is urgently needed in order to help the State control gold trading activities on the domestic market more effectively, a seminar was told. At the seminar, focused on the impact of gold on the financial market and organised by the Viet Nam National Financial Supervisory Committee (NFSC) in Ha Noi [...]

Two airlines fail to pay fuel bills Posted: 10 Jun 2011 08:45 PM PDT The Viet Nam Air Petrol Co (Vinapco) announced this week that it was facing insolvency after two air carriers had fallen in arrears on payments for fuel to the tune of VND210 billion (US$10.24 million) – a figure equipvalent to half of Vinapco’s charter capital. Jetstar Pacific owed the jet fuel supplier VND173 billion ($8.43 [...]

Chinese produce falls from favour Posted: 10 Jun 2011 08:44 PM PDT Vietnamese farm produce and foodstuff are wresting back the domestic market share they lost to Chinese products in the last five years. In HCM City for instance, consumers who used to prefer farm products imported from China due to their cheap prices are now choosing Vietnamese products. This is mainly due to the improvement in [...]

PM Dung urges US firms to invest more in Viet Nam Posted: 10 Jun 2011 08:43 PM PDT The Vietnamese Government was willing to create favourable conditions for US businesses to invest and co-operate in projects throughout the country, Prime Minister Nguyen Tan Dung told the visiting Governor of the US State of Maryland, Martin O’Malley, yesterday. PM Dung called on the business delegation, led by the Governor, to explore investment opportunities in [...]

Timber industry misses export target Posted: 10 Jun 2011 08:42 PM PDT The wood industry could not reach its target export this year due to obstacles in production and trading, said experts. Nguyen Ton Quyen, deputy chairman of the Viet Nam Wood and Forest Product Association (Viforest), said total export value of wood products for the first five months of this year had a yearly increase of [...]

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