Vietnam Briefing News » Oil & Petroleum

Vietnam Considers Removing Limit on Petroleum Trading Licenses

Vietnam Briefing — Fri, 09 Jul 2010 06:57:49 +0000

Jul. 9 – The Prime Minister’s Taskforce on Administrative Reform is recommending that the five year limit on petroleum trading licenses be removed to cut down on administrative procedures. The group advises shortening the time it takes to grant a petroleum license from 30 days to 20 days. Regular performance reports by petroleum importers and exporters [...]

Foreign Investment Sought in 30 Energy and Real Estate Projects

Vietnam Briefing — Fri, 25 Jun 2010 07:03:50 +0000

Jun. 25 – State-owned Petrovietnam wants to attract foreign investment for 30 energy and real estate projects. The list of projects includes the country’s third oil refinery, the Long Son oil refinery in southern Ba Ria-Vung Tau Province. The US$7 billion project is now looking for new investors after Venezuela’s state oil firm PDVSA stepped out [...]

Gas Import Tax Rate Reduced

Vietnam Briefing — Fri, 07 May 2010 08:41:05 +0000

May 7 – Government authorities have reduced import tax rates for certain commodity items, including gas, according to Circular No. 59/2010/TT-BTC issued last month. The import tax for gas has been reduced from 20 percent to 17 percent. The move is part of government efforts to contain rising gasoline prices and help affected gas companies. The [...]

Lawmakers Approve Nuclear Plants

Vietnam Briefing — Fri, 27 Nov 2009 09:11:51 +0000

Nov. 27 – Vietnam’s National Assembly has approved plans to build two nuclear power plants in the south-central province of Ninh Thuan scheduled to be finished by 2020. The nuclear plants will be located in Thuan Nam District’s Phuoc Dinh Commune and Ninh Hai District’s Vinh Hai Commune with a combined power capacity of 2,000 megawatts. [...]

Vietnam, Russia Sign Oil Exploration Deals

Vietnam Briefing — Mon, 31 Aug 2009 07:48:57 +0000

Aug. 31 – Russia’s oldest oil and gas company, Zarubezhneft Joint Stock Company and Vietnam Oil and Gas Group have inked two deals to explore Vietnamese and Cuban waters for oil, according to a company statement. The first deal will allow Zarubezhneft and Vietnam Oil and Gas to developed offshore oil blocks in southern Vietnamese waters [...]

Vietnam Increases Investment in Dung Quat Refinery to More Than US$3 billion

Vietnam Briefing — Thu, 20 Aug 2009 03:01:23 +0000

Aug. 20 – Vietnam is raising its investment in the Dung Quat oil refinery from US$2.5 billion to more than US$3 million due to additional construction costs and the resettlement of villagers. According to a government statement, the additional cost will be taken from the net income of crude oil sales used by state-owned Vietnam Oil [...]

Today is 30 Year Anniversary of Sino-Vietnamese War

Wed, 30 Nov -0001 00:00:00 +0000

Feb. 17 - Today marks the 30th anniversary of the Sino-Vietnamese War that erupted on February 17, 1979 when Chinese military forces launched a brief invasion of Northern Vietnam.

China, under the leadership of Deng Xiaoping, sent 200,000 troops along with 200 tanks across the border. Two days earlier, China had publicly said that they intended to attack Vietnam for their invasion of Cambodia. It would be the first time that China struck against a Soviet ally after the 1950 Sino-Soviet Treaty of Friendship and Alliance expired that same year.

Vietnam to Release Personal Tax Numbers By Early Next Year

Wed, 30 Nov -0001 00:00:00 +0000

Nov. 25 - Vietnam's tax department will release the personal tax numbers of three million people by early next year when the Law on Personal Income Tax is implemented beginning January 1.

In the first three months of 2009, 15 million people are expected to register for tax numbers, not including organizations and other people who already have the numbers.

The public is instructed to bring a photocopy of your identity card or passport to register.Tax official, Tran Ngoc Van, told The Vietnam News Agency that the new law will regulate all tax levels for those eligible to pay tax, as well as dependants, such as children, parents, and wives and husbands, who are also required to get their own personal tax numbers.

Vietnam to Host Mekong Nation Summit

Wed, 30 Nov -0001 00:00:00 +0000

Oct. 31 - Vietnam is set to host the third Ayeyawadi-Chao Phraya-Mekong Economic Cooperation Summit (ACMECS) and the fourth Cambodia-Laos-Myanmar-Vietnam Summit (CLMV) from Nov. 4 to 7.

The event is expected to attract foreign leaders and officials from relevant ministries of member countries to discuss solutions to improve cooperation agreements reached at previous summits.

Four hundred businessmen from regional countries, plus representatives from international organizations, and investors from Japan, the Republic of Korea, the US and European Union are also expected to attend.

Ericsson and Hanoi Telecom Sign Largest Network Modernization Contract in Vietnam

Vietnam Briefing — Mon, 01 Sep 2008 11:45:00 +0000

Sept. 1 - Ericsson signed the largest single contract in Vietnam—amounting to US$450 million—to develop and modernize Hanoi Telecom's nationwide mobile network today an industry journal reported.

The strategic partnership will also see Ericsson managing and operating the network under a full-scope managed services contract. Under the three-year managed services agreement, Ericsson will be responsible for the management, operation and network design of Hanoi Telecom's mobile network, including field operations and support services. Ericsson will also provide a comprehensive range of professional services, such as network deployment and systems integration.