Vietnam Business News

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• Gold prices test new highs as global uncertainties grow
• Viettel dominates cable network in Cambodia
• Software and digital content developers face tough time
• Exports to US lack competitiveness
• Vietnam to launch new satellite
• Motorbike market starts to heat up
• Foreign firms dominate animal-feed market
• Net cast for juicy seafood import favours
• MOF fails to collect tax arrears on 40 imported vehicles
• Lawyers say enterprise law shows shortcomings, need amendments

Gold prices test new highs as global uncertainties grow Posted: 19 Aug 2011 09:29 PM PDT The domestic gold price yesterday broke another record, with major gold dealers all quoting prices of VND47 million to VND47.5 million (US$2,279) per tael, as global prices soared, fueled by growing eurozone debt fears and deepening signs of a second US recession. Gold stands at a whopping VND7 million higher than its mark earlier this [...]

Viettel dominates cable network in Cambodia Posted: 19 Aug 2011 09:27 PM PDT Military-run telecom Viettel has deployed more than 16,000km of fibre optics for its Metfone network and is now has the biggest internet coverage in Cambodia. According to a report from the Ministry of Post and Telecommunications of Cambodia (MPTC), cable network coverage in the country has increased 17 fold in five years. Metfone has 80 [...]

Software and digital content developers face tough time Posted: 19 Aug 2011 09:27 PM PDT More than 1,000 domestic software and digital content companies will face a hard time on their home turf if they do not improve their capacity to adhere to international standards, according to IT experts. According to a Viet Nam Software and IT Service Association (VINASA) report, total sales revenue from software and digital content in [...]

Exports to US lack competitiveness Posted: 19 Aug 2011 09:26 PM PDT Raising the competitive edge of Vietnamese exports to the US market was high on the agenda at a seminar held in HCM City yesterday. The seminar was conducted by the Ministry of Trade and Industry in conjunction with the Viet Nam Chamber of Commerce and Industry. Economists attending the seminar said that some commodity groups [...]

Vietnam to launch new satellite Posted: 19 Aug 2011 09:26 PM PDT The VINASAT-1 satellite was successfully launched in 2008 and has become instrumental for the telecommunications industry. There are now developments for the VINASAT-2 satellite, and Viet Nam News sat down with Viet Nam Posts and Telecommunication’s External Relations Centre director Bui Quoc Viet to learn more. Can you tell us about the development process of [...]

Motorbike market starts to heat up Posted: 19 Aug 2011 09:25 PM PDT The domestic motorbike market is heating up, with many companies announcing plans to expand their production while others are entering the market for the first time. The race started when late last month, Honda, one of the biggest motorbike companies in Viet Nam, announced plans to construct its third plant in the northern province of [...]

Foreign firms dominate animal-feed market Posted: 19 Aug 2011 09:25 PM PDT Foreign firms dominate the supply of animal feed and breeding stock in the domestic market, and control the prices of both, industry insiders say. There are about 20 foreign invested firms producing animal feed in Viet Nam and they account for 65-70 per cent of the animal feed market. Pham Duc Binh, deputy chairman of [...]

Net cast for juicy seafood import favours Posted: 19 Aug 2011 09:24 PM PDT Customs procedures are being eased towards seafood material imports which are used to produce for exports. In light of Ministry of Finance's (MoF) Official Letter 10612/BTC-TCHQ dated August 10, 2011, the ministry gave the nod to some proposals concerning raw seafood imports for export production the Vietnam Association of Seafood Exporters and Producers (VASEP) earlier [...]

MOF fails to collect tax arrears on 40 imported vehicles Posted: 19 Aug 2011 09:14 PM PDT The Ministry of Finance (MOF) has reportedly failed to collect the tax on the 40 vehicles imported by an enterprise in Phu Tho province. The decision to collect tax arrears has been rejected by the court. MOF: investment license the key problem Several years ago, the Phu Tho Passenger Transport Joint Venture imported 40 vehicles [...]

Lawyers say enterprise law shows shortcomings, need amendments Posted: 19 Aug 2011 09:14 PM PDT The 2005 Enterprise Law, praised as making a breakthrough in creating a better business environment for enterprises by removing the discriminatory treatment on enterprises of different ownership forms and economic sectors, has shown a lot of problems. Laws and regulations overlapping Lawyer Truong Thanh Duc from Maritime Bank, said that there exists the overlapping between [...]

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