Friday, July 25, 2014

The Business Times: New foreign currency rules for Vietnamese

The Business Times: New foreign currency rules for Vietnamese

Link to Vietnam Business News

New foreign currency rules for Vietnamese

Posted: 24 Jul 2014 09:38 AM PDT

The Government has issued a decree allowing Vietnamese people to deposit foreign currencies at local banks and withdraw the principal and interest in the currencies deposited. Decree No. 70/2014/ND-CP, which guides implementation of the Foreign Exchange Ordinance and the amendments to this Ordinance, will take effect on September 5, replacing Decree No. 160/2006/ND-CP, according to […]

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VietBank Appoints New General Director

Posted: 24 Jul 2014 09:37 AM PDT

Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) announced to have appointed Nguyen Thanh Nhung to be its new general director from July 22 this year, local newswire DVO reported. Before being appointed as acting general director of VietBank in May 2014, Nhung was the deputy director of Eximbank. So far, the Board of Directors […]

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Sacombank to Establish Subsidiary Bank in Laos

Posted: 24 Jul 2014 09:37 AM PDT

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) is completing procedures to establish a subsidiary bank in Laos, local newswire Tri Thuc Tre reported. Phan Huy Khang, Sacombank's General Director said Laos had approved the setting up of its subsidiary bank in principle and the bank was completing procedures to establish a 100%-owned subsidiary bank […]

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July 24: Vietnam Stocks Resumes Gaining String, VNIndex Surpasses 600 Level

Posted: 24 Jul 2014 09:36 AM PDT

Vietnamese stocks rebounded today after recent correction, liquidity rose on increasing confidence with support of blue chips on the news of July CPI. The benchmark VN Index rose 4.56 points or 0.76% to 602.06. Volume rose 34% to 87.9 million shares worth of VND1.49 trillion. Put-through trading contributed 3 million shares worth of VND104 billion. […]

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HCM City to tighten energy labeling rules

Posted: 24 Jul 2014 09:34 AM PDT

Inspectors from the Ho Chi Minh City Department of Industry and Trade and market control officials have plans to levy administrative fines on manufacturers and importers of home appliances and industrial devices that fail to meet energy labeling requirements, according to the Saigon Times Daily. Speaking at a workshop on energy labeling in HCM City […]

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Ca Mau licenses nine additional foreign aided NGO projects

Posted: 24 Jul 2014 09:32 AM PDT

The People's Committee of southern Ca Mau province has issued nine additional investment certificates for foreign aided non-governmental organisations (NGOs) projects with investment capital of over US$2 billion. The locality now has 23 organizations which are implementing 31 foreign aided NGO projects on health, education and training, natural calamity prevention and environmental protection with total […]

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France helps Vietnam develop PPP projects

Posted: 24 Jul 2014 09:31 AM PDT

The Vietnamese Ministry of Planning and Investment (MPI) has signed with the French Egis International- Adetef consulting joint venture a technical and financial assistance contract for implementing public-private partnership (PPP) projects. The US$3.5 million deal, co-funded by the Asia Development Bank and the French Development Agency (AFD), aims to promote the application of the PPP […]

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Complex tax laws don’t deter foreign investment

Posted: 24 Jul 2014 09:31 AM PDT

The complexity of Vietnam's business tax climate is not impeding the attraction of foreign investment, and oddly enough, is appealing to a corrupt element of investors using complexity and legal loopholes to their advantage. A World Bank recent report on Vietnam's business tax climate in 2013 reflects it took a typical foreign invested small business […]

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India – leading pharmaceuticals supplier to Vietnam

Posted: 24 Jul 2014 09:30 AM PDT

India shipped pharmaceuticals worth US$131 million to Vietnam in the first half of 2014, a 13.54% rise year-on-year, making it the largest supplier of the products to the country. The Vietnam Industry and Trade Information Center (VITIC) reports that India made up 13.6% of the total US$963.3 million worth of pharmaceuticals Vietnam imported in the […]

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Vietnam-China border trade hits US$2.61bln in H1

Posted: 24 Jul 2014 09:29 AM PDT

Border trade value between the two countries jumped 13% to US$2.61 billion in the first six months of the year, according to the Vietnam-China border trade steering board. During the period, border trade, with monthly growth averaging 4%, accounted for over 24% of the total bilateral trade turnover between the two countries and resulted in […]

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