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HSBC Partners with Vietnam Post to Offer Financial Services
Sept. 18 – HSBC has announced that it will be partnering with state-run, Vietnam Posts, to make its financial services available to more people through its network of post offices. HSBC clients will now be able to make credit card payments or receive cash payments at post offices. “This move significantly expands HSBC’s domestic reach […]
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Ho Chi Minh Stock Exchange Joins ASEAN Bourse
Sept. 17 – The Ho Chi Minh Stock Exchange has announced it would join the Association of Southeast Asian Nations (ASEAN) Bulletin Board, a pending single trading bourse that will include 30 stocks each from six Asian exchanges. So far, the Singaporean, Indonesian, Malaysian, Thai and Philippines Stock Exchanges have agreed to join the bourse. […]
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New Trade Pact Will Allow More Japanese Imports
Sept. 15 – It will now be easier for Vietnamese businesses to import more goods from Japan when the Vietnam-Japan Economic Partnership Agreement (VJEPA) takes effect in October. Vietnam Net reports that under the agreement ninety-two percent of goods traded between Japan and Vietnam will be qualified for a tariff reduction or exemption including 86 […]
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World Bank to Provide US$160 Million Credit for Urban Upgrade
Sept. 14 – The World Bank has announced that it will provide a US$160 million no-interest credit for urban upgrade projects in the cities of Can Tho, Haiphong, Ho Chi Minh and the Nam Dinh Province. According to Nhan Dan, the extended credit will answer the financing gap that resulted from high levels of inflation […]
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Vietinbank Funds Major Hon La Port Project
Sept. 10 – The Vietnam Industrial and Commercial Bank has agreed to provide a ten year loan of more than VND110 billion to the the Petroleum Technical Services Corporation to develop the Hon La Port located in the central province of Quang Binh. The loan will improve the facilities of the Hon La Port and […]
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Direct Flight from Hainan-Hanoi to Begin
Sept. 9 – The direct flight route from China’s Hainan province to Vietnamese capital city of Hanoi will begin on September 27, running twice a week every Thursday and Sunday. RELATED: Dezan Shira & Associates’ Asia Business Model Comparison Services The route will use the 143-seat aircraft of Boeing 737 with tickets priced at US$117 […]
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Coca-Cola Commits US$200 Million to Vietnam
Sept. 7 – Soft drink maker, Coca-Cola and its bottler in Vietnam have committed to invest US$200 million in the country in the next three years. “Vietnam is a very important growth market to The Coca-Cola Company,” Coke chairman and chief executive officer, Muhtar Kent, said in the statement. “We are very optimistic about the […]
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DHL Offers Lower-Priced Shipping from HCMC to United States, Europe
Sept. 4 – Shipping company, DHL , is offering a lower-priced alternative for exporters wanting to send goods to the United States and Europe with its direct and faster Less than Container Load (LCL) service. The LCL services will link Ho Chi Minh City with Hamburg, Germany; Genoa, Italy; and Los Angeles, United States. According […]
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Minimum Wage to Increase by 12.3 Percent
Sept. 3 – The government has announced that state-owned companies will be increasing monthly minimum wage by 12.3 percent to VND800,000 or US$44.63 beginning May 2010. The new measure will also include raising the pensions and special allowances for war veterans. Thanh Nien News reports that the same payment increase will be applied at local […]
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Online Filing of Income Tax Declaration and Customs Procedures Now Available
Sept. 3 – The Ministry of Finance in partnership with the Vietnam Posts and Telecommunication Group (VNPT) are now making it possible to file income tax declaration and conduct customs procedures online. The goal is to digitize the ministry’s public administrative procedures said Thanh Nien News. The new online filing system will be implemented on […]