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Vietnam Business Registration To Be Streamlined

Business registration red tape is to be a thing of the past. Service should be improved and fees will increase under a new system for handling business registrations The process of business registration, previously regarded as simply a state management function, will be regarded as a service starting from December 10, 2012, under the Ministry of Finance (MoF) newly enacted Circular 176/2012/TT-BTC. Organizations and individuals register businesses shall have to pay increased charges set at a level sufficient to cover expenses instead of the current nominal fee level. Under current regulations at Circular 197/2006/TT-BTC, organizations and individuals in need of...

Vietnam Food Exporters Must Have Contact In U.S.

Besides the required registration with the U.S. Food and Drug Administration (FDA) again, local foodstuff exporters targeting the U.S. market are also required to maintain contact stateside on a 24/7 basis Besides the required registration with the U.S. Food and Drug Administration (FDA) again, local foodstuff exporters targeting the U.S. market are also required to maintain contact stateside on a 24/7 basis to be allowed to export products to the foreign nation from early next year, an official said. Do Tuan Phong, director of the Vietnam Trade Office branch in Houston, told the Daily the aforesaid information on...

Vietnam Securities Companies’ Major Surgery Enters Most Important Phase

The watchdog agency has shown its determination to reshuffle securities companies by setting up a lot of new strict regulations on the companies’ operation.... The new Circular No. 165 stipulating the financial adequacy norms, which will take place from December 1, 2012, is believed to help the process of restructuring securities companies go more effectively. A lot of securities companies would have to shut down by the first quarter of 2013 because they cannot satisfy the new requirements. The watchdog agency now can update the information about the “health” of securities companies by considering not only quarterly, biannual and yearly finance reports, but also...

New Decree Looks To Protect Whistleblowers In Vietnam

The Government issued Decree No 76/2012/ND-CP on October 3, detailing a number of articles of Law on Complaints and Denunciations. The decree applies to Vietnamese citizens and foreign individuals in Viet Nam; agencies, organizations and individuals the acts of which are denounced; agencies, organizations and individuals that have jurisdiction over denunciations; and agencies, organizations and […]

Vietnam’s Central Region Workers Face Binh Duong Boycott

Since 2006, a number of businesses in the southern province of Binh Duong has turned down to workers from the central provinces of Thanh Hoa, Nghe An and Ha Tinh...

VTV prepares for Premier League TV right

VietNamNet Bridge – On October 8, the Vietnam Television (VTV) sent a dispatch to the Ministry of Information and Communications, VTC and some paid-TV service providers on the purchase of the British Premier League TV right in the next three seasons (2013-2016). VTV said the policy of the Ministry of Information and Communications in appointing a representative to negotiate the Premier League broadcasting right then sharing it to other broadcasters is reasonable because it will help save money for local broadcasters. According to VTV, the paid-TV service providers outside VTV’s system who want to have the Premier League...

Vietnam Business Briefs October 11, 2012

* Ben Thanh Trading & Service Company (BTT) has announced October 19 as the ex-dividend date to issue 1.8 million bonus shares for shareholders at the 44:9 ratio. * Bao Viet Securities Investment Fund has sold over 1.1 million shares of Truong Thanh Furniture Corporation (TTF) to reduce its ownership from 11.6 percent to 8.7 […]

Vietnam pledged FDI continues to drop, disbursement stable

Newly pledged foreign direct investment (FDI) continued its downward trend in September, while FDI disbursement maintained its pace . As of September 20, total pledged FDI capital had reached $9.52 billion, down some 27.9 percent over the same period last year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. In September alone, the figure was over $1 billion. Meanwhile, disbursed FDI capital in Jan-Sep reached about $8.1 billion , inching down 1.2 percent year on year. The figure in September was about $820 million, marking the lowest level in the past five months. The processing and manufacturing industry...

Vietnam Business Briefs September 25, 2012

* The State Treasury sold VND250 billion worth of two-year government bonds and VND500 billion worth of three-year government bonds last Friday with the winning coupons of 9.45 percent and 9.7 percent per annum respectively. * 3-2 Construction Investment Joint Stock Company (C32) will begin trading 11.2 million shares on the Hochiminh Stock Exchange on […]

Suffering dead loss, Vietnamese tycoons turn into hired workers

VietNamNet Bridge – A lot of well known brands which were once the “Vietnamese pride,” have disappeared from the market. Others still exist, but their founders have to leave the businesses to take other jobs as hired workers. The big businesses that changed hands In late August 2012, Tribeco, a HCM City based drink company, organized an extraordinary shareholders’ meeting to consult with the shareholders about the dissolution of the company. Under the plan, Tribeco would get dissolved, while shareholders would receive 2300 dong for every share they hold, a very low level if...