Vietnam Business News

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• BHF- Bank Aktiengesellschaft allowed to extend operational duration of rep. office in HCMC
• MDB allowed to open branches in Hanoi and HCMC
• Bac A Bank allowed to change its name
• Feb 16: Vietnam gold hovers at vnd44.77mln/tael
• Feb 16: Vietnam central bank keeps dollar exchange at vnd20,828
• E-commerce, IT support business development
• Binh Duong attracts more investment projects
• EU diplomat pledges to expand EU-VN ties
• Hanoi ready to help businesses through difficulties
• Vietnam targets US$12b in mobile phone exports

BHF- Bank Aktiengesellschaft allowed to extend operational duration of rep. office in HCMC Posted: 15 Feb 2012 10:39 PM PST The State Bank of Vietnam (SBV) issued Decision No. 174/QĐ-NHNN on February 9 to permit the Ho Chi Minh City (HCMC) Representative Office (Rep. Office) of the BHF- Bank Aktiengesellschaft to extend its operational duration for another five years. The State Bank of Vietnam (SBV) issued Decision No. 174/QĐ-NHNN on February 9 to permit the [...]

MDB allowed to open branches in Hanoi and HCMC Posted: 15 Feb 2012 10:38 PM PST The State Bank of Vietnam (SBV) issued Documents No. 618 and 619/NHNN-TTGSNH on February 9 to allow the Me Kong Development Joint-Stock Commercial Bank (MDB) to open branches in Hanoi and Ho Chi Minh City (HCMC). Accordingly, the MDB is allowed to open a branch in Hanoi with the name of MDB Hanoi branch No.2 [...]

Bac A Bank allowed to change its name Posted: 15 Feb 2012 10:38 PM PST The State Bank of Vietnam (SBV) issued Decision No.148/QD-NHNN on February 7 to permit the Bac A Join-Stock Commercial Bank to change its name into the Bac A Commercial Joint-Stock Bank. Its abbreviation name is the Bac A Bank. The Decision took effect on the date of signing and is an integral part of its [...]

Feb 16: Vietnam gold hovers at vnd44.77mln/tael Posted: 15 Feb 2012 10:37 PM PST Vietnam gold prices were little changed from yesterday close on Wednesday morning, the prices hovered at VND44.77 million/tael. The world gold rose in New York last Friday night but Steady in Asia this morning. SJC Hanoi quoted at VND44.45 million/tael for bid and VND44.77 million/tael for ask, respectively as of 9:43 am, Hanoi time. SJC [...]

Feb 16: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 15 Feb 2012 10:32 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Thursday, unchanged since Dec 26, 2011. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036. Most of commercial banks continued lowering the [...]

E-commerce, IT support business development Posted: 15 Feb 2012 10:29 PM PST E-commerce and information technology have become essential tools for enterprises, especially in the current process of restructuring the economy, according to an official from the Ministry of Industry and Trade. Tran Huu Linh, Director of the Vietnam E-commerce and Information Technology Agency, said e-commerce has entered individuals' daily lives and business strategies, and it is [...]

Binh Duong attracts more investment projects Posted: 15 Feb 2012 10:29 PM PST The southern province of Binh Duong on February 15 granted licenses to seven foreign-invested projects and one domestic project. The new projects are the US$160 million Toan Thep Radian truck tyre factory invested by the Southern Rubber Industry Joint Stock Company (CASUMINA); a US$8 million Singaporean-invested cattle-feed factory operated by Biomin Vietnam Co. Ltd; a [...]

EU diplomat pledges to expand EU-VN ties Posted: 15 Feb 2012 10:28 PM PST The Head of the European Union Delegation to Vietnam, Franz Jessen, has stated he will make every possible effort to strengthen ties between Vietnam and the European bloc. At a press conference in Ho Chi Minh City on February 14, Jessen said many EU businesses operating in Vietnam see the country as a market with [...]

Hanoi ready to help businesses through difficulties Posted: 15 Feb 2012 10:28 PM PST The Hanoi municipal People's Committee met with local businesses on February 15 to listen their proposals to iron out snags in 2012. The Chairman of the Hanoi municipal People's Committee, Nguyen The Thao, suggested that through organizations and associations, businesses reflect their opinions on the city, policies and mechanisms on a regular basis. For their [...]

Vietnam targets US$12b in mobile phone exports Posted: 15 Feb 2012 10:28 PM PST The annual value of mobile phone and component exports of Vietnam is forecast to hit US$12 billion by the end of 2012, according to the Ministry of Industry and Trade. To meet the target, experts said Vietnamese exporters should attach importance to ensuring the quality of their products to protect brand names. They should also [...]

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