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Vietnam May Suspend New Licensing in Energy Inefficient Cement Sector
Oct. 12 – Vietnam’s Ministry of Construction (MoC) hopes to pass a suspension in the licensing of new cement production projects in an effort to cool the sector’s rapid development and inefficient use of energy, according to the Vietnam News Service. According to Vu Quang Diem, deputy director of the MoC’s Building Materials Department, Vietnam’s […]
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Vietnam Allocates US$90 Million to Establish Comprehensive Gov. Web Sites by 2015
Oct. 11 – With a budget of US$90 million, Vietnam plans to launch a newly approved program next year that will see all government agencies and departments at the district level running “comprehensive” web sites by 2015. The five-year plan to simplify administrative procedures and better serve the public by establishing online content could result […]
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Vietnam’s Leather and Footwear Exports See Considerable Rise
Oct. 7 – Exports of leather and footwear goods in Vietnam are expected to generate at least US$5.4 billion by the end of the year, the Vietnam Leather and Footwear Associated announced. So far this year, trade in the goods has increased 23.1 percent year-on-year to US$3.6 billion in Vietnam, the world’s fourth largest exporter […]
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Vietnam and EU Sign Deal to Boost Air Transportation
HANOI, Oct. 6 – Vietnam and the European Union signed an aviation agreement on Monday that will remove nationality restrictions in the bilateral air services agreement between the EU member states and Vietnam. According the European Chamber of Commerce in Vietnam, the agreement will allow any EU airline to operate flights between any EU Member […]
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Vietnam Facing Serious Power Shortages in 2013-2014
Oct. 5 – Vietnam needs to speed up construction of new power plants a government official said on Saturday or risk facing a critical power shortage in 2013 and 2014. With electrical demand in the country growing, drastic measure will have to be taken to meet the growing need throughout Vietnam, Minister Nguyen Xuan Phuc, […]
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ADB Increases Growth Forecast for Vietnam
Oct. 4 – The Asian Development Bank increased its economic growth forecast for Vietnam this year to 6.7 percent from the 6.5 percent it projected in April. The bank has also increased the its growth forecast for2011 to 7 percent from 6.8 percent, while lowering inflation projection to 8.5 percent this year and 7.5 percent […]
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Lam Dong Province Seeking FDI for Tourism Complex
Sept. 30 – Lam Dong Province in central Vietnam is seeking local and foreign investors to support a 1,000 hectare tourism complex. Local authorities are offering 24 projects for investment amounting to a total of US$1.87 billion. The majority of those projects will involve huge investments in the trade and tourism sectors.
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Update on Treatment of Non-Public Joint Stock Company Shares
Sept. 29 – The Ministry of Finance has confirmed that shares of non-public joint stock companies will not be treated as securities following Letter 12501/BTC-CST issued on September 20. Only shares for public joint stock companies will be considered as securities. The latest clarification means that a 25 percent corporate income tax rate will be […]
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Single Customs Window Pilot Project to Improve Vietnam Trade
Sept. 28 – Vietnam is working towards improving its trade process with a single window customs pilot project backed by the U.S. Trade and Development Agency. “This pilot project will help to increase revenue, enforce trade compliance regulations and reduce the cost of cargo movement into Vietnam, an increasingly important partner for the United States […]
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FDI Disbursement Reaches More than US$8 Billion
Sept. 27 – Foreign investment disbursement from January to September reached more than US$8 billion, a rise of 4.8 percent compared to the same period last year says the Foreign Investment Agency. The first nine months of the year saw Vietnam successfully attract US$12.19 billion worth of foreign direct investment and license 720 new projects […]