Monday, January 21, 2013

Vietnam Business News

Vietnam Business News

ADB gets poor infrastructure on track

Posted: 20 Jan 2013 11:15 PM PST

The Asian Development Bank last week agreed to provide Vietnam $150 million in loans to help Vietnam improve its infrastructure system. As part of its efforts, ADB announced that it would provide a $20 million loan from its Asian Development Fund for Vietnam's Public Private Partnership (PPP) Support Project, which is expected to increase private [...]

Firms in cross hairs of the transfer pricing teams

Posted: 20 Jan 2013 11:14 PM PST

Anti-transfer pricing enforcement will be a top priority for the Vietnam tax authority in 2013. Bui Van Nam, head of the General Department of Taxation (GDT), said one of the main tasks for the tax authority in 2013 would be the inspection of related party transactions, a method of transfer pricing often employed by foreign-invested [...]

Vietnamese businesses five years after joining the WTO

Posted: 20 Jan 2013 11:14 PM PST

Ho Chi Minh City held the Viet Nam Business Forum on January 19 to discuss the challenges facing small and medium-sized enterprises (SMEs) and their potential solutions after Viet Nam's five years as World Trade Organisation (WTO) member. Cao Si Khiem, President of the Viet Nam Association of Small and Medium-Sized Enterprises (Vinasme), reviewed Viet [...]

Banks shrug off diffidence over lending

Posted: 20 Jan 2013 11:13 PM PST

Many banks in HCM City have begun lending aggressively in the new year with an eye on their credit growth targets for the year. They have also begun lending to non-priority sectors, something they had refrained from for many months. Sacombank has lent VND50 billion (US$2.4 million) to small and medium-sized firms, individuals, and households [...]

HCM City’s January CPI edges up 0.44 percent

Posted: 20 Jan 2013 11:09 PM PST

Ho Chi Minh City 's consumer price index (CPI) in January edged up only 0.44 percent against the previous month, a fairly low rate given that the Lunar New Year is drawing near. According to the municipal Statistics Office, eight out of 10 commodity groups measured registered a hike in prices. The highest price rise [...]

Vietnam promotes deep, comprehensive int’l integration

Posted: 20 Jan 2013 11:08 PM PST

Vietnam has accelerated economic and political global integration in a deep and comprehensive manner, said President Truong Tan Sang in a New Year interview with the Vietnam News Agency. According to the President, despite domestic economic difficulties and complicated changes in the region and the world situation, a suitable external policy has helped the country [...]

Investors give up on IP projects over money issues

Posted: 20 Jan 2013 11:08 PM PST

While investing in industrial parks used to be a lucrative source of profits for investors, many are now looking to reduce the scale of their project, or even withdraw investment through their own initiatives as expenses have become unbearable. In the Duc Hoa and Can Giuoc districts of Long An Province, which used to be [...]

Already big, Japan’s investment figures to grow bigger

Posted: 20 Jan 2013 11:07 PM PST

Japan's foreign direct investment to Vietnam is expected to have a significant increase in the future as the two countries cement a strategic partnership. Just 20 days after being re-elected as Japanese prime minister, Shinzo Abe paid a two-day official visit to Vietnam with the purpose of strengthening bilateral cooperation between the two countries. This [...]

Shares continue correction on both bourses

Posted: 20 Jan 2013 11:07 PM PST

The stock market continued its correction phase this morning with shares on both national exchanges losing value. The benchmark VN-Index on the HCM City Stock Exchange was off 0.92 per cent to stand at 449.96 points, with the trading value reaching VND652.3 billion (US$31.2 million). Today the new VN30 basket makes its debut, with Southern [...]

Securities firm boss arrested for alleged stock loan scam

Posted: 20 Jan 2013 09:10 PM PST

Police have arrested the general director of Ha Noi-based Trang An Securities Joint Stock Company Le Ho Khoi over alleged stock loan scams. Khoi was arrested on Friday after allegedly instructing his staff to forge documents certifying the securities codes of his company’s clients in order to claim loans from the Sai Gon –Ha Noi [...]
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