Other Briefings
Exporters, Bank Plan to Build Bonded Warehouse in United States
Dec. 7 – State-owned Vietnam Development Bank and local exporters are considering plans to build a bonded warehouse in the United States for exports reports Thanh Nien News. This would aid local exporters cut storage costs and make more good readily available in the market. Vietnam Development Bank General Director Nguyen Quang Dung told Vietnam […]
HCMC to Maintain Real Estate Prices
Dec. 4 – Authorities are determined to maintain real estate values in Ho Chi Minh City to maintain stability and avoid the market from overheating. In a new proposal only 17 of the city’s 2,890 streets will have their prices adjusted for 2010. The priciest piece of real estate is still Dong Khoi, Nguyen Hue […]
Enterprises to be Allowed to Set Share Price for Foreign Investors
Dec. 3 – Companies choosing to equitize shares will soon be allowed to set their own prices for preferred foreign investors instead of following the initial public offering average price. The government will revised Decree 109 to accommodate companies who already have a preferred foreign investor in mind. Deputy head of the Steering Committee on […]
Vietnam to Lift Ratio on Foreign Ownership to 49 Percent
Dec. 2 – Vietnam will soon raise the ceiling on foreign ownership in local businesses from 30 percent to 49 percent, says deputy chairman of the State Securities Commission (SSC) Nguyen Doan Hung during a workshop sponsored by Euromoney and the Ministry of Finance. The set ratio will include total chartered capital except credit institutions. […]
Higher Tet Bonuses Expected Next Year
Dec. 1 – Companies say they are expecting to give out higher bonuses for 2010 Tet Holidays compared to the previous year due to improving business says Vietnam Net. The director of the Wage Department under Ministry of Labour, War Invalids and Social Affairs (MOLISA), Tong Thi Minh, said that there was no official information […]
New Resolution to Dissolve Loss-Making State Firms
Nov. 30 – Vietnam’s National Assembly has approved a new resolution that would dissolve unprofitable state-owned firms and increase efficiency of the remaining ones during the last day of its month-long session. The committee reported that 45 percent of its 91 state-owned groups in the country met low returns on equity of less than 10 […]
Lawmakers Approve Nuclear Plants
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 […]
Virtual Offices Concept Face Government Resistance
Nov. 27 – Government agencies have been slower to accept the virtual office concept leading to delayed processing times for tax and registration documents that use a virtual office address. Virtual offices are a popular option for small businesses because it provides all related business needs from a phone number to a business mailing address […]
Vietnam Devalues Currency, Raises Interest Rates
HANOI, Nov. 25 – The central bank has announced that it would devalue the Vietnamese currency and raise benchmark base interest from 7 percent to 8 percent beginning next month. This is the third time since since 2008 that the dong has been devalued. The central bank said that one-time devaluation will see the currency’s […]
Vietinbank to Offer Online Remittance Transfer Services
Nov. 24 – The Vietnam Bank for Industry and Trade (Vietinbank) will begin offering online remittance transfer service to make it easier for Vietnamese overseas to transfer money home. The service allows a maximum one time transfer amount of US$3,000 or 10 transactions totaling US$15,000 monthly according to VOV News. One can immediately register for […]
