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Vietnam Business Briefs November 14, 2012

* Dinh Vu Port Investment & Development JSC. (DVP) announced November 26 as ex-date and November 28 as record date for 2012 interim cash dividend payment. The firm will pay dividend at VND2,000/share on December 14, 2012. * Phuc Tien Trade Manufacture JSC. (PHT) reported its current outstanding shares as at November 8 as follows: […]

Vietnam Franchise Market Warms Up, To Boom In Near Future

Newly emerging and potential--Vietnam has become a lucrative market for foreign franchisors. However, the high retail premises rents would challenge them. Foreign food groups have been flocking to Vietnam to seek business opportunities through franchising contracts. The US fast food Burger King has set up its first shop on Pham Hong Thai Street in district […]

Vietnam Tax Agencies Cast Doubtful Eyes on Metro Cash & Carry and Coca-Cola

Reporting repeated losses, but still scaling up business, Metro Cash & Carry, a distributor, and Coca-Cola, a drink manufacturer, have raised doubts that they are conducting the transfer pricing. Metro Cash & Carry has continuously opened new distribution centers recently in Buon Ma Thuot City, Rach Gia (Kien Giang province) and Ha Dong in Hanoi, […]

Vietnam fowl farmers plan to raise anti-dumping lawsuit against chicken imports

VietNamNet Bridge – Hundreds of livestock households in the southern region have been on tenterhooks, because they still don’t know if the outsourcing contracts signed with foreign invested enterprises would be extended. They have also been incurring losses due to the chicken imports being dumped on the domestic market. “I don’t know if the company would continue outsourcing the farming to us,” he complained. Not only Hung, but other hundreds of households in the southern region have become worried stiff when hearing that the three foreign invested livestock enterprises have decided to cut down the numbers of farmed fowls...

Petrolimex loss put at 2.6tr dong

Vietnam National Petroleum Group, also known as Petrolimex, incurred a loss of over VND2.6 trillion in 2011 from fuel trading, mainly due to exchange rate fluctuations, says a report of State Audit of Vietnam. Auditor general Dinh Tien Dung said the State Audit of Vietnam had released an audit report on the 2011 financial statement of Petrolimex following requests by National Assembly deputies for information about business results of fuel wholesalers. As of February 11, 2011, Petrolimex had sustained a loss of more than VND1.8 trillion because of exchange rate volatility. Furthermore, retail prices quoted by...

New project to boost care of Vietnam’s diabetes patients

HA NOI (VNS)— The Ministry of Health yesterday signed an agreement with Denmark-based global healthcare company Novo Nordisk to start a joint programme on better care for diabetic patients in Viet Nam. The Viet Nam Diabetes Care Programme, as it is known, is aimed at solving the alarming spread of the disease. More than five million Vietnamese are suspected of having diabetes, but 60 per cent remained undiagnosed. Nguyen Thy Khue, president of the Viet Nam Endocrinology and Diabetes Association, said that at present those with the disease were given second...

Vietnam Luring Tech Companies Narrows Trade Gap: Southeast Asia

Vietnam’s cost advantage has drawn investments from U.S. and South Korean technology companies, whose exports have overtaken garments and provided a bright spot for a government struggling to revive economic growth. Intel Corp. (INTC), Samsung Electronics Co. (005930) and Jabil Circuit Inc. (JBL) are among a growing roster of companies setting up or expanding in Vietnam, spurring exports amid a global slowdown that has damped demand for goods from other Asian nations. Shipments of mobile phones and other electronics from Vietnam surged 91 percent in the first 10 months of the year to $16 billion, making them the biggest source...

Vietnam Land And Factors For Lowering Land Prices

There are three essential factors that affect the value of agricultural land: time for land allocation, restrictions on land conversion and the underdeveloped land market. Major assets As being mentioned before, the Constitution and the Land Law stipulates that land is owned by the people. Personal ownership of land has no value. The value of land is only for the access to the use of land, which is worth billions of US dollars. It is estimated that the value of land in Vietnam is about $200 billion. The estimation method takes into account the...

Indian Cashew Companies to Set up Units in Vietnam and Africa

Indian cashew companies are looking to set up processing factories in Vietnam and Africa, lured by the incentives doled out by the governments, cheaper availability of raw materials and labour. India is a major importer of raw cashew nuts for processing and export of cashew kernels, which surpassed Rs 4,300 crore last year. If Vietnam […]

Hedging China risks, Japan firms turn to booming Southeast Asia

PHNOM PENH – Hiroshi Uematsu had a tough start in Cambodia, where he heads an economic zone that aims to attract business from his native Japan. He arrived just before the global financial crisis sent the Asian economic minnow's exports into a tailspin and dried up investment interest. Now, though, business is looking up. About a third of the lots on the 365-hectare (900-acre) site on the outskirts of the capital Phnom Penh remain vacant and overgrown...