Saturday, March 8, 2014

The Business Times: Agricultural support agreement reached with UN

The Business Times: Agricultural support agreement reached with UN

Link to Vietnam Business News

Agricultural support agreement reached with UN

Posted: 07 Mar 2014 10:38 PM PST

The Ministry of Agriculture and Rural Development and the Food and Agriculture Organisation of the United Nations (FAO) signed a major cooperative project in Hanoi on March 7. Together, the two bodies will build capacity for an integrated food and energy system in Vietnam . The project will be carried out over three years with […]

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Latex traders seek VAT clarifications

Posted: 07 Mar 2014 10:35 PM PST

Rubber trading companies have asked the Ministry of Finance to issue clearer guidance regarding payment of the value added tax (VAT) on pre-processed latex. According to officials at the Viet Rubber Association (VRA), there is a need to clarify regulations stated in Article 10 and Article 5 in Circular 219/2013/TT-BTC dated 31 December 2013 guiding […]

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US firm expands Dong Nai factory

Posted: 07 Mar 2014 10:33 PM PST

On Semiconductor of the US on March 6 inaugurated its expanded factory in Dong Nai's Bien Hoa 2 industrial park to raise its output by more than a double. The company mainly produces hybrid integrated circuits, semiconductors for car, household electrical equipment and other industrial applications. The second phase of the project cost the US […]

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EVFTA: challenges for Vietnam lie in non-tariff barriers

Posted: 07 Mar 2014 10:25 PM PST

Vietnam has been told not to be too worried about the competition with the EU sourced products in the home market once the EU-Vietnam Free Trade Agreement (EVFTA) is signed. "The EU is one of the most important markets for Vietnam. The EU-Vietnam economic relationship is the mutual-supporting relationship. The EU is not Vietnam's main […]

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Sacombank-Southern Bank merging plan to get going

Posted: 07 Mar 2014 10:22 PM PST

Saigon Thuong Tin Commercial Bank, or Sacombank, is going to submit to the State Bank of Vietnam the project on merging the bank with Southern Commercial Bank, said Sacombank chairman Pham Huu Phu. The bank's annual general meeting (AGM) in 2013 assigned the board of directors to seek a small lender for merging. Merging with […]

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Local exports to benefit from FTAs with EU

Posted: 07 Mar 2014 10:19 PM PST

The impacts of a Vietnam-EU trade deal were discussed at a seminar hosted by the European Trade Policy and Investment Support Project (EU-MUTRAP) in Hanoi on March 7. The seminar revealed that Vietnam's exports will increase by 30-40% due to lower tariffs following the EU-Vietnam free trade agreement (EVFTA). Minister Counsellor and head of the […]

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PVN, EVN face ban on non-core investment

Posted: 07 Mar 2014 10:15 PM PST

Vietnam Electricity Group (EVN) and Vietnam Oil and Gas Group (PVN) will be banned from investing in real estate, banking, insurance and stock market, said the Ministry of Finance. The two State-owned groups have invested heavily in non-core sectors, with PVN having poured over VND5 trillion and EVN some VND1.1 trillion in business areas that […]

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Quang Nam province to focus on tourism human resources

Posted: 07 Mar 2014 10:10 PM PST

Central Quang Nam province will, from now to 2020, focus on improving the perception on tourism development and human resources training for the sector to meet rising demands, thus shifting its economic base from agriculture to industry, with services occupying a large ratio of the economy. This was a conclusion from a conference jointly held […]

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Vietnam Airlines adds more flights for Hue Festival

Posted: 07 Mar 2014 10:04 PM PST

Vietnam Airlines plans to increase the number of flights to serve passengers coming to the central province of Thua Thien-Hue to celebrate Hue Festival 2014. The national flag carrier will operate more return flights from Hanoi and Ho Chi Minh City to Hue until June 23. It will provide 400 seats every day for the […]

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Sharp increase in asset growth for JVs, foreign lenders

Posted: 07 Mar 2014 09:59 PM PST

The assets of joint ventures and foreign banks in Vietnam registered a sharp increase last year, compared to have grown sharply last year with state-owned and commercial banks. While the country's banking system put in a weak performance in 2013, latest statistics compiled by the State Bank of Vietnam have shown that as of the […]

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