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Increasing cases of power theft in Vietnam raise public concern

HA NOI (VNS)- As many as 2,355 cases of power theft in northern provinces and cities were reported so far this year, alarming authorities who take responsibility for ensuring the safety of citizens and public property, according to Northern Power Corporation (EVN NPC). These thefts were generally conducted by installing spare meters or metal straps or switching meters, rather than tapping the grid for power as was common 10 years ago, according to EVN NPC. In An Duong District in the northern port city Hai Phong, someone placed metal straps on the electronic meters...

More Opportunities For Vietnamese Exporters To The US

Huge customer demand makes the US a promising market for Vietnam. Domestic businesses must therefore enhance their capacity to exploit the market to best advantage. According to HIS Global Insight, a world-leading economic forecasting company, the US’s import demand will increase slightly from US$2,312 billion in 2012 to US$2,334 billion in 2013. Alibaba.com—a business-to-business (B2B) trading floor—says that despite a recent slump, the US still tops the list of orders for products from Vietnam, accounting for 10 percent of the country’s total export earnings compared to 12 percent in 2011. The General Department of Vietnam Customs claims that during the...

Vietnam Business Briefs November 13, 2012

* HCM City Securities Corporation (HCM) reported its outstanding shares as at November 2 as follows: The firm has had 100,565,957 outstanding shares since November 2 after buying 15,250 treasury shares. Earlier, the company had 100,581,207 outstanding shares. HCM has a charter capital of VND1,008.5 billion. * Ninh Hoa Sugar JSC. (NHS) whose chair is Thai Van Chuyen, vice Chair of Gia Lai Cane Sugar Thermoelectricity JSC. (SEC) registered to buy 2 million shares from November 15 to December 15 through order-matching and put-through. Currently, NHS is expected to hold 4 million SEC shares versus 2 million SEC shares currently. * Sadico Cantho Joint Stock Corporation (SDG) announces...

Foreign companies enlarge, Vietnamese firms struggling to survive

Contrary to the bleak situation of domestic companies, many foreign direct investment (FDI) corporations have not only grown in term of invested capital but also overpower in some Vietnam’s key export sectors. While domestic companies are struggling for survival, foreign invested corporations are enlarging manufacturing, especially in Vietnam’s key export sectors. Textiles, leather, plastic, mechanical, etc., seem to be Vietnam’s strength for low cost labour, simple technology, but export increasing mostly comes from foreign invested companies. Only in term of capital, in October, there were 359 FDI projects registered to capital increasing with the amount of 3.8 billion US dollars, 12.3...

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...

E-book market still in infancy in Vietnam

The e-book market in Vietnam is still in its infancy and is growing far too slowly than e-book producers had expected, as Vietnamese readers have yet to acquire the habit of paying online for book content, seemingly a new and unfamiliar process for them...

Industrial Zone Especially for Japanese Investors

Following HCM City, Dong Nai, Binh Duong and Ba Ria-Vung Tau, Ben Tre has attracted special attention from Japanese investors. This locality has worked out a plan to call for Japanese firms to establish an industrial zone for Japanese businesses in early 2013. According to the Ministry of Planning and Investment, in the first seven […]

Vietnam Business Briefs October 30, 2012

* High Grade Brick Tile Company (MCC) has announced November 7 as the ex-dividend date to advance 2012 first round dividend in cash for shareholders at 12 percent. * Refrigeration Electrical Engineering Corporation has bought over 260,000 shares of Vinacomin- Nui Beo Coal Company (NBC) to raise its holding from 9.4 percent to 10.7 percent. * SSI Asset Management Company has registered to buy one million shares of Viglacera Ha Long Company (VHL) from today to November 27. * But Son Cement Packing Company(BBS) has announced November 14 as the ex-dividend date for shareholders to receive 2011 dividend in cash at 12 percent. * Ben Thanh Corporation will...

Vietnam Animal Husbandry Cannot Attract FDI

VietNamNet Bridge – Vietnam has been trying to call for foreign direct investment (FDI) into the animal husbandry industry, which remains unattractive in the eyes of foreign investors. While foreign investors have poured big capital into the animal feed industry, they keep indifferent to the livestock sector. However, the situation would change in the future, since Vietnam has been trying to call for FDI into the sector. Hoang Kim Giao, Director of the Animal Husbandry Department under the Ministry of Agriculture and Rural Development (MARD), said the domestic animal husbandry has been...

Algeria and Vietnam: Half a century of diplomatic relations

(VEN) – Algeria and Vietnam will celebrate the 50th anniversary of the establishment of diplomatic relations between the two countries on October 28, 2012. During this time, bilateral relations knew a sustained development and continually subtended by the indefectible friendship forged during the harsh periods of the independence wars. Our two countries regained the sovereignty by arms and at the cost of heavy sacrifices. This common destiny had soon boosted closer ties between Algerian and Vietnamese militants. These indelible memories resurface on different occasions. It was particularly the...