The Business Times: Vietnam to host ASOSAI 14 in 2018

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• Vietnam to host ASOSAI 14 in 2018
• Auto development strategy stalls after latest disappointment
• PwC ranks Vietnam 22nd largest economy by 2050
• Foreign express-delivery providers gear up for domestic market
• HAGL and Rowsley enter US$550 million Myanmar JV
• Stocks more expensive, but remain attractive to foreign funds
• Vietnam loses $33 billion in illegal foreign-currency outflows: expert
• Why do foreign investors want to set up oil refineries in Vietnam?
• Consumption of gold in Vietnam falls sharply
• Ocean Bank eyed by many investors

Vietnam to host ASOSAI 14 in 2018 Posted: 13 Feb 2015 11:47 PM PST Vietnam will host the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI) in 2018, become a member of the ASOSAI Governing Board in the 2015-18 tenure, and chair the organisation from 2018-2021. The information was announced at the 13th Assembly of the ASOSAI held in Kuala Lumpur, Malaysia, on February 10, with […] The post Vietnam to host ASOSAI 14 in 2018 appeared first on Vietnam Business News.

Auto development strategy stalls after latest disappointment Posted: 13 Feb 2015 11:47 PM PST The last hope for the automobile development strategy is gone: the Chu Lai – Truong Hai automobile engine project has had its license revoked. In late December 2014, the Chu Lai Open Economic Zone Management Board in Quang Nam province officially revoked the investment certificate it had granted to the Chu Lai – Truong Hai […] The post Auto development strategy stalls after latest disappointment appeared first on Vietnam Business News.

PwC ranks Vietnam 22nd largest economy by 2050 Posted: 13 Feb 2015 11:45 PM PST Vietnam is predicted to stand in 22nd place among the world's largest economies by 2050 in purchasing power parity (PPP) terms, according to a report by the accounting and consultancy firm PricewaterhouseCoopers (PwC). The country and Nigeria are viewed amongst a number of countries having the fastest economic growth between now and 2050, said the […] The post PwC ranks Vietnam 22nd largest economy by 2050 appeared first on Vietnam Business News.

Foreign express-delivery providers gear up for domestic market Posted: 13 Feb 2015 11:42 PM PST The decision by foreign express companies to expand their business in Vietnam reflects the promising market in the country. In mid-September, DHL-VNPT, a subsidiary of German DHL Group,opened its main office and the southern service center in HCM City. The project, capitalized at $10 million, is the biggest ever investment deal made by DHL in […] The post Foreign express-delivery providers gear up for domestic market appeared first on Vietnam Business News.

HAGL and Rowsley enter US$550 million Myanmar JV Posted: 13 Feb 2015 11:42 PM PST The Hoang Anh Gia Lai Joint Stock Company (HAGL) has entered a joint venture (JV) with real-estate and investment firm Rowsley Ltd. for developing a mixed-use project in Yangon, Myanmar. Rowsley Ltd. is partially owned by Singapore billionaire Peter Lim. The company announced the deal for mixed-use development, valued at US$550 million in Yangon, Myanmar, […] The post HAGL and Rowsley enter US$550 million Myanmar JV appeared first on Vietnam Business News.

Stocks more expensive, but remain attractive to foreign funds Posted: 13 Feb 2015 11:32 PM PST Following a successful 2014, investment fund management companies are seeking capital to set up new funds in Vietnam. Vuong Tuan Duong, deputy director of VOF, noted that in 2014 and early 2015, VOF has withdrawn very little capital from listed companies. It has only sold shares that had increased in price to get money to […] The post Stocks more expensive, but remain attractive to foreign funds appeared first on Vietnam Business News.

Vietnam loses $33 billion in illegal foreign-currency outflows: expert Posted: 13 Feb 2015 11:31 PM PST Vietnam has witnessed a drain in foreign currencies over the years, with one expert saying that $33 billion flowed out of the country between 2008 and 2013 because of illegal transfer of funds and embezzlement. Dr. Vu Quang Viet, a former high-ranking United Nations' specialist, was quoted in a local newspaper as saying that the […] The post Vietnam loses $33 billion in illegal foreign-currency outflows: expert appeared first on Vietnam Business News.

Why do foreign investors want to set up oil refineries in Vietnam? Posted: 13 Feb 2015 11:31 PM PST Experts believe that foreign investors want to develop oil refinery projects because they can see the geopolitical and economic advantage in a Vietnam location. Under the initial oil and gas development strategy by 2020, Vietnam would have only three oil refineries, Dung Quat in Quang Ngai province ($3 billion in investment capital and 6.4 million […] The post Why do foreign investors want to set up oil refineries in Vietnam? appeared first on Vietnam Business News.

Consumption of gold in Vietnam falls sharply Posted: 13 Feb 2015 11:30 PM PST Vietnam spent nearly $603 million on 15.6 tons of gold in the fourth quarter of 2014, down 13% compared to the same period in 2013, falling by two spots to ninth in the world for gold sales. The information comes from the World Gold Council (WGC) report released on February 12. The report shows that […] The post Consumption of gold in Vietnam falls sharply appeared first on Vietnam Business News.

Ocean Bank eyed by many investors Posted: 13 Feb 2015 09:43 AM PST Who will buy Ocean Bank, which has been in a difficult period since late last year? This is a question of intense interest now in the banking sector. Last October, Van Tham, head of the bank at that time, and Nguyen Van Hoan, deputy CEO, were arrested on suspicion of fraud. And in January 2015, […] The post Ocean Bank eyed by many investors appeared first on Vietnam Business News.

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