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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...

GMO RunSystem licensed for Vietnam domain name registration service

GMO RunSystem, a Vietnam unit of Japan’s GMO Internet, last week got a license for its Vietnamese domain name registration service, officially foraying into the potential local market with a population of nearly 90 million. Ngo Van Tau, director of GMO RunSystem, said there had been over 300,000 entities having the Vietnamese domain name dot-vn registered in the country, so the market still had room for further growth thanks to a high internet penetration rate of more than 36 percent. The internet services market in Vietnam has grown by leaps and bounds over the years, with the country ranking 20th in the...

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...

HP.ITA Corporation Engages Auditors to Perform Financial Audits to Go Public in the U.S. Stock Market

HP.ITA Corporation. a Nevada corporation founded in 2004, announced today that the Company has engaged PLS CPA, an independent San Diego-based PCAOB-registered auditing firm, to perform the audit of the Company's financial statements. HP.ITA Corporation (fka Provimex, Inc.), a Nevada corporation founded in 2004, announced today that the Company has engaged PLS CPA, an independent […]

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 Project’S Bad Fashion Statement

The runaway foreign investors of Lifepro Vietnam’s Luxfashion textile and garment complex, leaving $150 million in debts behind, have underscored the ugly side of foreign-invested projects that go wrong. The $300 million European clothing complex, located in northern Ninh Binh province’s Gian Khau Industrial Park, has been totally locked down since early September, just six months after official becoming operational. In late August, the local authorities were reported by a Vietnamese representative of Lifepro Vietnam that all foreign managerial staff of Luxfashion complex...

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...

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 New Regulation On Securities Transactions

Amid the stock market slump, the Vietnamese Government has issued Decree 58/2012/ND-CP ("Decree 58") on securities to replace Decree 14/2007/ND-CP of 19 January 2007 Amid the stock market slump, the Vietnamese Government has issued Decree 58/2012/ND-CP ("Decree 58") on securities to replace Decree 14/2007/ND-CP of 19 January 2007, Decree 84/2010/ND-CP of 2 August 2010, and Decree 01/2010/ND-CP of 4 January 2010. The three repealed Decrees are collectively referred to as the "Old Decrees" in this article. Decree 58 takes effect on 15 September 2012. Among the highlighted changes are the lifting of certain restrictions on private placement, introduction of a legal framework and approval requirements...

VIC, MSN, STB, DPM, VCB, CTG, BVH Appears in Newly Launched iShares

The iShares MSCI Frontier 100 Index Fund is set for launch on Thursday, according to NYSE’s Arca exchange. The exchange-traded fund will change hands under the ticker FM. The iShares MSCI Frontier 100 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Frontier Markets 100 Index, iShare said. 7 Vietnamese stocks included in the index: VIC, MSN, STB, DPM, VCB, CTG, BVH , accounting for 2.56% of the fund value. Company Ticker Price (VND) Weigh Vincom JSC. VIC 72,000 0.79 Masan Group Corporation MSN 102,000 0.45 Saigon Thuong Tin Commercial Joint Stock Bank...