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Million USD ships in Vietnam are dying

VietNamNet Bridge – The owners of these ships cannot lease or sell them. The million-USD ships are becoming piles of scraps at private wharves across northern provinces. The wharf behind a hill in An Son commune, Thuy Nguyen district, the northern port city of Hai Phong, is the home to the ships that were built […]

Vietnam Airlines launches Tet tickets on Thursday

VALC leases one more airplane to Vietnam Airlines Vietnam Airlines from to day will sell tickets for flights in the upcoming Lunar New Year holiday, with 1,000 more flights added or an additional 174,500 seats for passengers on ten routes with high travel demand. The extra flights will be carried out in the peak time from January 25 to March 2 which falls on the period from the 14th day in the twelfth lunar month to the 21st day in the first lunar month. Vietnam Airlines said it would increase an extra 82,600 seats for the route between HCM City and Hanoi, rising 27 percent compared...

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...

Vietnam Taxes and Charges Sending Automobile & Motorcycle Manufacturers into Difficulties

The difficult economic situation plus the impact of taxes and charges is causing more difficulties for the Vietnam automobile industry. This same situation also occurs with motorcycle manufacturers. The Ministry of Transport policy of restricting transport in large urban centres becomes a big challenge for the development of automobile and motorcycle manufacturing industry. Various taxes […]

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 […]

Vietnam Business Briefs Sept 22, 2012

Dong Nai receives $1bn FDI The southern province of Đong Nai has attracted more than US$1 billion from foreign direct investment (FDI) despite the economic downturn, said Bo Ngoc Thu, director of the province’s planning and investment department. The figures places the southern province third nationally in attracting FDI after Binh Dương Province, also in the South, and the northern city of Hai Phong. In the past eight months, Đong Nai has granted investment licenses to 34 enterprises with registered capital of about $600 million. Among the new projects, two are in high-tech – Belmont Manufacturing specializing in health...

Vietnam Business Briefs Sep 20, 2012

* Thien Nam Trading Import Export Joint Stock Company (TNA) announced to have earned VND34.4 billion pre-tax profit on revenue of VND827.73 billion in 8M/2012, meeting 69 percent and 82.7 percent of its full-year targets, respectively. In August alone, the company earned VND4.3 billion pre-tax profit on VND114.78 billion net revenue. * The People’s Committee of Kon Tum decided to fine Hoang Anh Gia Lai Corporation (HAG) VND55 million for its violation of environment regulations during the exploitation and processing of iron ores at Mo Rai, Sa Thay. The firm is also banned from dumping sewage water into Sa...

SHB officially holds 50pct stake in Bianfishco

The first move of Saigon – Hanoi Commercial Joint Stock Bank (SHB) after merging with Hanoi Building Commercial Joint Stock Bank (Habubank) is to save Binh An Seafood JSC (Bianfishco) (headquartered in Tra Noc industrial zone, O Mon district, Can Tho city). On August 25, Bianfishco, Debt trading company and SHB have announced new business registration certificate offered by Can Tho Department of Planning and Investment. Accordingly, Tran Van Tri (Dieu Hien’s husband) will be President and the legal representative of Bianfishco. SHB is registered to be shareholders owning 25 million of shares, equal to 50 percent total Bianfishco’s chartered capital...

Bianfishco pledges to clear farmers dues by September

Binh An Seafood Joint Stock Company (Bianfishco), the Saigon Hanoi Commercial Joint Stock Bank (SHB), and the Debts and Assets Trading Corporation under the Ministry of Finance (DATC) held a press conference to announce that from now o­n SHB will be involved in restructuring all activities of Bianfishco. Tran Van Tri, CEO of Bianfishco, said that though it took a long time to submit all required documents and complete necessary procedures, Can Tho City has now officially certified a new business registration license for the Binh An Seafood Joint Stock Company (Bianfishco). The new license stipulates that Saigon Hanoi Commercial...

Vietnam Business Briefs August 29, 2012

* Saigon Fishing Net Company (SFl’;J) has announced September 11 as the date of registration for shareholders to receive 2011 third round dividend and 2012 first round dividend both in cash at 2 percent and 7 percent respectively. * Northern Textile and Garment Company (TET) has announced September 5 as the ex-dividend date for shareholders to receive 2012 second round dividend in cash at 8 percent. * Danang Housing Investment and Development Company (NDN) has gained approval to trade an additional 1.5 million shares on the northern bourse. * Thu Duc Trading and Import-Export Company (TMC) obtained VND1.2 trillion in revenues and VND15.2 billion in pre...