Vietnam Business News

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• Used phones find their position in bad economy
• Labour initiative offers workers fighting chance
• Five-seat cars would be much cheaper with low taxes
• CPI edges up on food price fall
• Online trade frauds would be make public
• More luxury cars to make debut in Vietnam
• Cyber registration system online to get its act together
• M&A in banking sector: who will be next?
• Australia, Vietnam foster trade and energy cooperation

Used phones find their position in bad economy Posted: 28 Apr 2013 09:35 PM PDT HA NOI – The mobile phone market has been one of the victims of Viet Nam’s recent economic troubles, but canny companies have found a glimmer of hope amid the gloom by tapping into the rising demand for used phones. According to the Ministry of Industry and Trade, sales of brand new mobiles have fallen [...]

Labour initiative offers workers fighting chance Posted: 28 Apr 2013 09:32 PM PDT Placing employment agencies at bus stations has helped many migrants find jobs and is the sort of innovation needed for Viet Nam to weather the economic storm, say experts. Gia Loc and Thien Ly report. The An Suong Bus Station swelters under the scorching sun that has been holding HCM City in its gaze for nearly one month now, [...]

Five-seat cars would be much cheaper with low taxes Posted: 28 Apr 2013 09:27 PM PDT If the automobile industry development plan is implemented as expected, cars would get much cheaper in just some years. The Ministry of Industry and Trade (MOIT) has confirmed that the automobile industry development plan by 2020 has got the concurrence from relevant ministries. Regarding the tax policy, a member of the plan compilation committee said [...]

CPI edges up on food price fall Posted: 28 Apr 2013 02:21 AM PDT HA NOI— The consumer price index (CPI) inched up just 0.02 per cent in April against the previous month, the lowest monthly rise in the past decade, according to the General Statistics Office (GSO). With April’s modest change included, CPI in the first four months of the year is 2.41 per cent higher than the [...]

Online trade frauds would be make public Posted: 28 Apr 2013 02:13 AM PDT E-commerce websites participating in trade fraud and violating customers rights are to be publicised on the official portal website of the Ministry of Industry and Trade (MoIT). The move is part of the ministry’s ongoing effort to protect customers from trade fraud on the internet, which has mushroomed in recent years. “Besides a number of [...]

More luxury cars to make debut in Vietnam Posted: 28 Apr 2013 02:06 AM PDT Automakers will continue to bring high-end cars into Vietnam although the domestic market is described as small and business development has not been favorable as expected, especially in the context of economic woes. Euro Auto, official importer and distributor of BMW cars in Vietnam, said it will debut the Mini brand of BMW Group in [...]

Cyber registration system online to get its act together Posted: 28 Apr 2013 02:05 AM PDT The online national business registration system, which allows enterprises to do business registration online and access trustworthy information of others, will be fully completed this year. Le Quang Manh, head of the Ministry of Planning and Investment's Business Registration Agency, said the agency in cooperation with provincial business offices were trying to update information of [...]

M&A in banking sector: who will be next? Posted: 28 Apr 2013 02:01 AM PDT The number of Vietnamese commercial banks would decrease from 39 currently to 13-15 by 2017, according to Stoxplus, a finance information service firm. The 2013 merger and acquisition (M&A) released of the firm showed that unlike the previous years, most of the M&A deals in the banking sector in 2013 would be the investment deals [...]

Australia, Vietnam foster trade and energy cooperation Posted: 28 Apr 2013 01:55 AM PDT Both sides have concurred to encourage trade promotion agencies VIETRADE and AUSTRADE to promote effective and sustainable cooperation. The agreement was reached at a meeting between Minister of Industry and Trade Vu Huy Hoang and Australian Minister for Trade and Competitiveness Craig Emerson during Hoang's visit from April 22-28. The two ministers compared notes on [...]

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