Tuesday, April 23, 2013

Vietnam Business News

Vietnam Business News

New regulation requires notification of high value transactions to central bank

Posted: 22 Apr 2013 06:10 PM PDT

HA NOI — Any transaction over VND300 million (US$14,250) must be reported to the State Bank of Viet Nam under a recent decision that goes into effect June 10. Signed by Prime Minister Nguyen Tan Dung last Thursday, the decision applies to financial institutions and relevant organisations and individuals conducting non-financial business lines prescribed in [...]

FDI projects provide thousands of jobs in Ben Tre Province

Posted: 22 Apr 2013 06:07 PM PDT

The Investment Promotion Center in the Mekong Delta province of Ben Tre on April 20 said that many of the Foreign Direct Investment (FDI) projects in the province have helped provide employment and a stable income for almost 18,000 local residents. The province currently has 41 FDI projects with total capital exceeding $309 million, mainly [...]

Overly rapid growth scare businesses stiff

Posted: 22 Apr 2013 06:06 PM PDT

Vietnamese businesses, which tried to obtain rapid growth at any costs have become the victims of their rapid development policy. Unlike the previous years, the businesses named in the 2012 FAST500 list (the 500 Vietnamese fastest growing enterprises) talked about their achievements in a cautious manner. Meanwhile, economists have voiced their concern about the overly [...]

Vietnam plays tough with US over catfish

Posted: 22 Apr 2013 06:05 PM PDT

Vietnam has filed a lawsuit against the US' Department of Commerce for its allegedly unfair imposition of anti-dumping taxes on tra catfish exports. Vietnam Association of Seafood Exporters and Producers (VASEP) general secretary Truong Dinh Hoe told VIR that 16 Vietnamese tra fish exporters had just lodged a complaint against the US' Department of Commerce [...]

Eximbank lends US$100 million to Vietnam Airlines for B787

Posted: 22 Apr 2013 06:01 PM PDT

The Vietnam Export Import Commercial Bank (Eximbank) signed a contract on April 22 providing US$100 million in credit to the Vietnam Airlines Corporation (VAC) for the purchase of eight B787 aircraft. VAC General Director Pham Ngoc Minh said that the carrier plans to receive the first airplanes in the second quarter of 2015 to replace some of its current [...]

Sao Khue awards given to 66 IT products and services

Posted: 22 Apr 2013 06:00 PM PDT

Sixty-six information and technology (IT) products and services were honoured at the Sao Khue Awards 2013 in Hanoi on April 21. Speaking at a ceremony to mark the 10th anniversary of the award, Minister of Information and Communications Nguyen Bac Son praised the Sao Khue programme's contribution to the development of the software and IT [...]

Hanoi and HCM City CPI down in April

Posted: 22 Apr 2013 05:58 PM PDT

The April consumer price index (CPI) for Hanoi decreased 0.15 percent, but still up 5.6 percent against the same period last year, according to a report from the Hanoi Statistics Office. Food and restaurant services saw a drop of 0.65 percent, while accommodation, electricity, fuel and construction materials group fell by 0.14 percent. Transport was [...]

Giant Vinamilk powdered milk factory enters operation

Posted: 22 Apr 2013 05:55 PM PDT

Prime Minister Nguyen Tan Dung attended the launching of the Vietnam Dairy Products Joint Stock Company (Vinamilk) giant powdered milk factory in the southern province of Binh Duong on April 22. He praised the company's rapid 23 percent growth in turnover, which hit VND27.3 trillion and contributed VND3 trillion to the State budget in 2012. The [...]

Foreigners owning apartment in vn a tough road

Posted: 22 Apr 2013 03:03 AM PDT

After seven years in Vietnam Sonia, a British and French national, still has to live in a rented house despite her financial ability and intention to buy an apartment in the country. Sonia, who married a local man three years ago, decided to buy a 99.8-square-meter flat at US$90,000 in 2012, but the plan was [...]

Gold smuggling increases

Posted: 22 Apr 2013 02:47 AM PDT

The illegal trading and transportation of gold via borders have been rising in the past days, the local newswire Nld.com.vn reported, quoting an unnamed gold trading management official in Ho Chi Minh City, as saying. With current local gold premium of around VND5 million per tael, gold smugglers easily earned a few million dongs per [...]
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