Vietnam Business News

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• $4.3 million grant for road maintenance management
• Banks must meet stricter requirements to open new branches
• Some banks not yet finished Dong conversion into gold
• Industrial output hits record high
• Regulators draft new securities rules
• Binh Dinh to develop port strategy to 2020
• Digital signatures get go-ahead
• Firms form new group in Italy
• Clinker, cement exports up 13.6%
• Petroleum imports climb in first half

$4.3 million grant for road maintenance management Posted: 29 Jun 2011 12:41 AM PDT Japanwill transfer technologies to help Vietnam enhance capacity in road maintenance management. This is one of major content of the Technical Cooperation Project which will be signed in Hanoi on July 1 between Japan International Cooperation Agency (JICA) and the Directorate for Roads of Vietnam (DRVN). The project for "Capacity Enhancement in Road Maintenance" has [...]

Banks must meet stricter requirements to open new branches Posted: 29 Jun 2011 12:39 AM PDT Local banks will have to meet stricter requirements for network expansion, according to the State Bank of Vietnam (SBV)'s draft circular. Local banks will have to meet stricter requirements for network expansion, according to the State Bank of Vietnam (SBV)'s draft circular on setting up branches, changing names, locations and stopping operations of branches, representative [...]

Some banks not yet finished Dong conversion into gold Posted: 29 Jun 2011 12:39 AM PDT Some banks in Ho Chi Minh city haven't finished dong converstion into gold, Ho Huu Hanh, Director of the State Bank of Vietnam (SBV)'s Ho Chi Minh city told the VnExpress on June 28. Volatile gold prices have made it difficult for local lenders to buy gold at good prices, while the given lead-in for [...]

Industrial output hits record high Posted: 28 Jun 2011 09:13 PM PDT June’s monthly Index of Industrial Production (IIP) hit a record high this year, surging 12.7 per cent against the same period last year, the General Statistics Office (GSO) reported. June was the first month the IIP, which has been on trial for the last two years, was officially used to replace industrial production value that [...]

Regulators draft new securities rules Posted: 28 Jun 2011 09:13 PM PDT The State Securities Commission is racing to complete the regulatory framework pursuant to the amended Law on Securities, which takes effect on July 1. The commission is drafting a decree on administrative sanctions for securities violations and a circular on the organisation and operation of securities companies. Compared to Government Decree No 85/2010/ND-CP of August [...]

Binh Dinh to develop port strategy to 2020 Posted: 28 Jun 2011 09:12 PM PDT The southern central coastal province of Binh Dinh aims at fostering the growth of existing ports and building a new seaport by 2020 to become one of the key economic centres of the area, officials said. Promoting the positive potential of the Quy Nhon and Thi Nai ports is a key part of the strategy. [...]

Digital signatures get go-ahead Posted: 28 Jun 2011 09:12 PM PDT The Ministry of Information and Communications yesterday issued a licence to the CK Technology and Communications Joint Stock Co, Viet Nam’s sixth digital signature authentication provider. The company will be able to offer the service to agencies, organisations, individuals, websites and other software developers. Minister Le Doan Hop called on the company to join hands [...]

Firms form new group in Italy Posted: 28 Jun 2011 09:12 PM PDT The Vietnamese entrepreneur community in Italy’s Verona City on Sunday set up the Association of Vietnamese Entrepreneurs in Italy (ASSOEVI). The association aimed to unite and enhance the capability of each association member, and created an environment to co-operate and exchange information among Vietnamese entrepreneurs and businesses in Italy, founders said. It would also promote [...]

Clinker, cement exports up 13.6% Posted: 28 Jun 2011 09:11 PM PDT The Viet Nam Cement Industry Corporation (Vicem) exported 610,000 tonnes of clinker to Bangladesh, Myanmar, Hongkong and Singapore in the first half of the year. Another 30,000 tonnes of cement were exported to Laos and Cambodia during the period. The total export value of the two products for the period amounted to nearly US$20 million. [...]

Petroleum imports climb in first half Posted: 28 Jun 2011 09:10 PM PDT Petroleum imports for the first six months of this year totalled US$5.5 billion, a year-on-year increase of 67.6 per cent, the General Statistics Office reported. The total amount of imported petroleum reached 6.12 million tonnes, up 16.5 per cent against the same period a year ago. Imports of liquefied gas amounted to 359,000 tonnes, costing [...]

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