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State Bank of Vietnam Issues New Circular on Foreign Investment
Recently, the State Bank of Vietnam issued Circular No. 05/2014/TT-NHNN, which guides the opening and use of indirect investment capital accounts for the implementation of foreign direct investment in Vietnam.
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Vietnam and Myanmar to Boost Bilateral Cooperation after ASEAN Summit
Vietnamese Prime Minister Nguyen Tan Dung has stated that the Vietnamese government will help local businesses invest in Myanmar. Mr. Dung made these comments during a recent visit by Myanmar’s Minister of Industry, U Maung Myint, to Hanoi.
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Conflict in the East Sea Dominates Recent ASEAN Summit
Vietnam’s Deputy Prime Minister and Chief Foreign Minister, Pham Binh Minh, has revealed that one of the key topics at the recent 24th Association of Southeast Asian Nations Summit was the issue of the recent events between Vietnam and China over the East Sea (referred to as the South China Sea by China).
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Coffee Prices Soar as Coffee Bean Sales Slow in Vietnam
After a record crop of 1.7 million tons of robusta beans, Vietnam’s current reserve of coffee beans has shrunk to a low of 390,000 tons at the end of April. This is less than the average reserve of 25 percent, which had been seen over the last five years.
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Vietnam Import/Export Regulatory Update
An update on the latest regulations and legislation affecting import and export activities in Vietnam.
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Foreign Investment Needed for Infrastructure and Agriculture Projects in Vietnam
Prime Minister Nguyen Tan Dung has approved a list of projects that require foreign investment. These projects will take place over the next six years, with a tentative completion date of 2020.
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Apple Takes a Bite Out of Vietnam’s Market
In a country where the average yearly wage is just below US$2,000, it may sound odd that Apple, and other tech companies, are registering double digit growth year over year (y/y) in Vietnam. Vietnamese consumers, who are increasingly young and tech savvy, feel that they must have the latest models of electronic products because of the perceived status that they bring to their users.
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Vietnam Lodges Protest Against Chinese Oil Rig
On May 3rd, Vietnamese Deputy Prime Minister and Foreign Minister, Pham Binh Minh, called the Chinese State councillor, Yang Jiechi, in order to express his concern over the deployment of a US$1 billion deep-sea oil rig in what appears to be Vietnamese waters.
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Vietnam Promises Action on Corruption
In a May 5th speech to the National Convention on Anti-Corruption, Vietnam’s Party General Secretary, Nguyen Phu Trong, strongly pushed for greater action to be taken in the fight against corruption.
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Ho Chi Minh City and Hanoi Report Strengthening Economic Numbers
Vietnam’s capital Hanoi and its economic center Ho Chi Minh City have both reported positive economic numbers for the first four months of 2014. April has proven to be a particularly auspicious month for both cities.