Vietnam Business News

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• Genting plays right cards with casino plan resort
• Japanese funds step up investment in Vietnam
• Google and Facebook accused of evading taxes in Vietam
• January post & telecom sector’s revenues jump 23 pct
• $47 million glass container factory opens
• Quang Ninh calls for new investment
• Malaysia firm mulls over tourism complex in Quang Ninh
• Vietnam, Myanmar strengthen cooperation on auditing
• Textile-garment sector targets US$1b in export earnings from RoK
• Most outstanding enterprises honoured

Genting plays right cards with casino plan resort Posted: 08 Feb 2012 12:45 AM PST Asian hospitality giant Genting Group wants to lay money down for its second integrated gaming and resort complex in Vietnam – this time in northern Quang Ninh province, home to the world heritage Halong Bay. A source at Quang Ninh Economic Zone Management Authority told VIR the Malaysian group had signed a memorandum of understanding [...]

Japanese funds step up investment in Vietnam Posted: 08 Feb 2012 12:43 AM PST Japanese investment funds are paying more attention to Vietnamese companies, especially those operating in new growth fields such as medicine and information technology. According to Japan's leading economic and financial daily Nikkei, venture fund Dream Incubator Inc. and Orix Corp. are acquiring 31 per cent of stake of the Japan-Vietnam Medical Instrument Co., a medical [...]

Google and Facebook accused of evading taxes in Vietam Posted: 08 Feb 2012 12:43 AM PST Despite earning much from advertisements, the perhaps most well-known social networking sites, Google and Facebook, have paid very little in taxes in this country. Huge advertising revenues According to statisitics by AC Nielsen and TNS, Google holds around 95 per cent of online searches, and is the gateway for 70 per cent of websites in Vietnam, showing [...]

January post & telecom sector’s revenues jump 23 pct Posted: 08 Feb 2012 12:42 AM PST The Vietnamese post and telecom sector posted revenues of VN11.1 trillion ($528.6 million) in January, up 23 pct on-year, according to the General Statistic Office of Vietnam (GSO). In January, Vietnam licensed 832,000 new mobile phone subscribers, up 15.4 pct against the same period from last year. At the same time, only new 2,200 fixed [...]

$47 million glass container factory opens Posted: 08 Feb 2012 12:42 AM PST A joint venture between a Vietnamese brewery and two foreign companies opened a glass container manufacturing plant on February 6 in Ba Ria-Vung Tau Province. O-I BJC Glass Vietnam, a $47 million venture between Owen Illinois of the US, Berli Jucker Corp of Thailand, and the Sai Gon Beer-Alcohol-Beverage Corp, will initially produce about 75.000 [...]

Quang Ninh calls for new investment Posted: 08 Feb 2012 12:41 AM PST A conference on promoting investment will be held in the northern border province of Quang Ninh on February 23-24. Nguyen Van Doc, Chairman of the provincial People's Committee, said the event aims to introduce Quang Ninh's socio-economic development strategy until 2020, with a vision to 2030, and propose new measures to encourage growth. Meanwhile, Nguyen [...]

Malaysia firm mulls over tourism complex in Quang Ninh Posted: 08 Feb 2012 12:40 AM PST Malaysia's Genting Group will make a feasibility study for building a tourism complex, including a casino, in the Van Don Economic Zone in the northern coastal province of Quang Ninh. According to the zone's management board, Genting and the province recently signed a memorandum of understanding on the feasibility study. The province plans to allocate [...]

Vietnam, Myanmar strengthen cooperation on auditing Posted: 08 Feb 2012 12:39 AM PST Leaders from the State Audit Offices of Vietnam and Myanmar met in Hanoi on February 7 to share auditing experience. The two sides agreed to further exchange experience in conducting auditing, training human resources and sharing knowledge through conferences and seminars on auditing. Both were also committed to supporting each other at multilateral forums, under [...]

Textile-garment sector targets US$1b in export earnings from RoK Posted: 08 Feb 2012 12:39 AM PST Vietnam is set to earn US$1 billion from textile and garment exports to the Republic of Korea (RoK) this year, said President of the Vietnam Textile and Apparel Association (Vitas) Vu Duc Giang. The RoK, therefore, will become the fourth largest key market of Vietnam's textile and garment sector, after the US, EU, and Japan. [...]

Most outstanding enterprises honoured Posted: 08 Feb 2012 12:38 AM PST A ceremony was held in the northern province of Thai Nguyen on February 7 to honour the most outstanding enterprises and businesspeople. The event aims to recognize their contributions to socio-economic development in Thai Nguyen province and in the country as a whole. In the past year, local enterprises created many jobs for workers, thus [...]

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