The Business Times: PetroVietnam revenue hits $23 Billion

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• PetroVietnam revenue hits $23 Billion
• SBV wants stricter rules on consumer credits
• Vietnam urged to quickly improve supporting industries
• Stricter rule for main construction contractors
• Car imports skyrocket in 8 months
• Sep 22: VN-Index sinks in closing session on blue-chips
• Housing ownership of foreign-invested enterprises in Viet Nam
• List of 127 national projects calling for foreign investment
• Trade confidence hits 3-yr high
• Steel tariffs imposed to protect domestic market

PetroVietnam revenue hits $23 Billion Posted: 22 Sep 2014 09:10 PM PDT Viet Nam National Oil and Gas Group (PetroVietnam) achieved 74 per cent of its annual target by earning VND492 trillion (US$23.4 billion) in revenues in the first eight months of 2014. The company also reported on its website that in August alone, its total production output reached 2.16 million tonnes of oil equivalent (TOE), bringing […] The post PetroVietnam revenue hits $23 Billion appeared first on Vietnam Business News.

SBV wants stricter rules on consumer credits Posted: 22 Sep 2014 09:07 PM PDT The State Bank of Vietnam is fielding suggestions for a draft circular under which commercial banks must set up a separate finance company to provide consumer credits to customers. According to the draft regulating consumer lending activities in the country, a finance company can provide consumer credits to individual clients via installment loans, loans on […] The post SBV wants stricter rules on consumer credits appeared first on Vietnam Business News.

Vietnam urged to quickly improve supporting industries Posted: 22 Sep 2014 09:04 PM PDT The Japan External Trade Organization (JETRO) in HCMC called for Vietnam to speed up improvement in supporting industries to help companies, particularly those from Japan, reduce heavy dependence on imports. Hirotaka Yasuzumi, managing director of JETRO in HCMC, raised the point at a seminar on solutions to develop supporting industries in Vietnam in HCMC last […] The post Vietnam urged to quickly improve supporting industries appeared first on Vietnam Business News.

Stricter rule for main construction contractors Posted: 22 Sep 2014 08:58 PM PDT Engineering, procurement and construction (EPC) and foreign contractors will not be allowed to hire sub-contractors to do all construction works of the contracts they win as clarified by a decree on construction contracting. The Ministry of Construction said the decree is one of the five decrees guiding the 2014 Construction Law, which was passed by […] The post Stricter rule for main construction contractors appeared first on Vietnam Business News.

Car imports skyrocket in 8 months Posted: 22 Sep 2014 08:58 PM PDT In the first eight months of the year, Vietnam imported an estimated 37,300 vehicles valued at US$806 million, up 71.5% in volume and 91.9% in value compared to last year's corresponding period, Vietnam Customs reports. Of the figure, the Republic of Korea (RoK) remained the top supplier of automobiles to Vietnam with a 4.3% on-year […] The post Car imports skyrocket in 8 months appeared first on Vietnam Business News.

Sep 22: VN-Index sinks in closing session on blue-chips Posted: 22 Sep 2014 08:53 PM PDT Stocks on the Hochiminh Stock Exchange made a repeat of the last Friday session, with the unexpected decline in the closing session in the face of earlier strong gains, as investors continued to sell blue-chips to take margins. Heavy selling in the closing session continued to weigh down the local exchange, a stock analyst in […] The post Sep 22: VN-Index sinks in closing session on blue-chips appeared first on Vietnam Business News.

Housing ownership of foreign-invested enterprises in Viet Nam Posted: 22 Sep 2014 09:10 AM PDT There are different provisions of laws on the conditions, duration, forms of ownership, rights and obligations of foreign-invested enterprises owning houses in Vietnam depending on such enterprises' business sectors. 1. Foreign-invested enterprises (hereinafter referred to as "FIEs") conduct real estate business activities in Vietnam by investing in the construction of houses for the purposes of […] The post Housing ownership of foreign-invested enterprises in Viet Nam appeared first on Vietnam Business News.

List of 127 national projects calling for foreign investment Posted: 22 Sep 2014 09:07 AM PDT PM Nguyen Tan Dung has approved a list of 127 national projects calling for foreign investment from now to 2020. The projects are categorized into five: technical infrastructure, social infrastructure, agriculture, processing and preserving and production-service sectors. No. Project Locality Total Capital (million USD) Investment model Contact I. TECHNICAL INFRASTRUCTURE 1.1 Traffic infrastructure I.1.1 Roads […] The post List of 127 national projects calling for foreign investment appeared first on Vietnam Business News.

Trade confidence hits 3-yr high Posted: 22 Sep 2014 09:04 AM PDT The HSBC Trade Confidence Index rose to 120 in the first half of 2014, the highest in three-and-a-half years, according to a report released by the bank on Wednesday. But the index is still below the record level of 132 reached in the first half of 2010. Almost half of the polled importers, exporters and […] The post Trade confidence hits 3-yr high appeared first on Vietnam Business News.

Steel tariffs imposed to protect domestic market Posted: 22 Sep 2014 09:02 AM PDT The Ministry of Industry and Trade (MoIT) has issued an order imposing anti-dumping tariffs on stainless steel to protect the domestic market and create a level playing field between imported and local products. This is the first time Vietnam has levied anti-dumping tariffs on imports from other nations to the local market following its integration […] The post Steel tariffs imposed to protect domestic market appeared first on Vietnam Business News.

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