Vietnam Business News

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• Vietsopetro pumps up 200 million tonnes of oil
• Accelerating reforms to attract more investment
• Experts eye ways to help small businesses
• VND10.7 trillion in taxes exempted or delayed
• VietJet Air fined for organising bikini show on plane
• VND5,650 billion mobilized from Government bond sales
• Gold reverts to VND42.3 million
• Ernst & Young Vietnam relocates to Bitexco Financial Tower
• Myanmar seeks to rejoin top rice exporters
• VSIP pours $25 million into Binh Duong projects

Vietsopetro pumps up 200 million tonnes of oil Posted: 09 Aug 2012 05:11 AM PDT The Vietnam-Russia oil and gas JV enterprise (Vietsopetro) drilled their 200 millionth tonne of oil from the Dragon and White Tiger oilfields in the early hours of August 8. The milestone marks the great efforts made by the JV employees in ensuring the safety and effectiveness of their oil explorations as well as in strengthening [...]

Accelerating reforms to attract more investment Posted: 09 Aug 2012 05:10 AM PDT Many foreign investors say that slow and cumbersome investment procedures would make Vietnam suffer millions of job losses. In the first half of this year, Vietnam granted investment licenses to 452 new foreign invested projects with a total capitalization of more than US$4.76 billion, not to mention 123 existing projects with additional capital of more [...]

Experts eye ways to help small businesses Posted: 09 Aug 2012 05:10 AM PDT Small- and medium-sized enterprises (SMEs) are facing challenges accessing capital and using it efficiently, said Doan Thi Quyen from the Vietnam Chamber of Commerce and Industry (VCCI) at a conference in Haiphong yesterday. The conference is aimed at helping SMEs access and efficiently manage capital including loans from commercial banks. Explanations as to why commercial [...]

VND10.7 trillion in taxes exempted or delayed Posted: 09 Aug 2012 05:06 AM PDT Total taxes exemptions and delays added up to  VND10.7 trillion (USD5.2 billion) by the end of July, said the Minister of Finance. According to the Ministry of Finance, the amount of VAT in April, May and June for 200,000 enterprises which have been delayed reached VND10 trillion, and 8,260 enterprises have their corporate tax deadlines [...]

VietJet Air fined for organising bikini show on plane Posted: 09 Aug 2012 05:05 AM PDT VietJet Air, a private run economy airline, was fined VND20 million (US$950) for organizing a bikini show on its Ho Chi Minh City-Nha Trang flight on August 3. The airline also allowed passengers to use cell phones and cameras to record the show, in complete breach of aviation safety regulations, which requires that all audio, [...]

VND5,650 billion mobilized from Government bond sales Posted: 09 Aug 2012 05:05 AM PDT The State Treasury o­n August 6 mobilized VND5,650 billion from auctioning bonds o­nline through the Hanoi Stock Exchange (HNX). Of that figure, two-year bonds earned VND1,650 billion, while three- and five-year bonds contributed VND2,000 billion each. Annual interest rates for the bonds ranged from 9.1 percent to 9.59 percent depending o­n the specific terms. The [...]

Gold reverts to VND42.3 million Posted: 09 Aug 2012 05:01 AM PDT Price of gold in Vietnam hiked to around VND42.3 million a tael (1.2 ounces) on August 9 as global price maintained rising trend to fifth trading session, but momentum slowed down. Saigon Jewelry Company, Vietnam's biggest gold processer and trader, bought the metal at VND42.15 million and sold at VND42.3 million as of 11.20am Vietnamese [...]

Ernst & Young Vietnam relocates to Bitexco Financial Tower Posted: 09 Aug 2012 05:00 AM PDT Ernst & Young has relocated its Ho Chi Minh City office in District 1 to Bitexco Financial Tower. This relocation represents a significant improvement in floor area and building specification. Christopher Butler, office managing partner of Ernst & Young Ho Chi Minh City, said "We are delighted with our new office. The facilities are excellent [...]

Myanmar seeks to rejoin top rice exporters Posted: 09 Aug 2012 04:59 AM PDT As Myanmar emerges from decades of isolation and oppression, it hopes to reclaim its nearly forgotten status as the world’s biggest rice exporter. That’s a tall order, but industry and government officials have begun drafting plans to revitalize the industry after years of neglect and military mismanagement. No country’s appetite is quite like Myanmar’s, which [...]

VSIP pours $25 million into Binh Duong projects Posted: 09 Aug 2012 04:58 AM PDT Vietnam Singapore Industrial Park (VSIP) and Standard Chartered Bank signed a $25 million loan agreement in Binh Duong on August 8. VSIP general director Nguyen Phu Thinh said the five-year loan will be used to develop urban areas and industrial services in VSIP, which has so far attracted 51 projects. VSIP is located on 1,700 [...]

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