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Vietnam Coal Industry Seeking Solutions to Overcome Difficulties

The Viet Nam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) had to face many challenges with a sharp fall in demand for energy in general and coal in particular. Due to the impacts of the economic downturn, in the first 9 months of 2012, the Viet Nam National Coal and Mineral Industries Holding […]

Hanoi Move To Close Door On City Migrants

The Vietnamese government last week tabled the draft Law on Capital to the National Assembly for discussion, with one of the draft law’s most notable points being that each immigrant wanting permanent residency in the capital must have at least five square metres of housing there. Also, the draft law stipulates that the immigrant must have a stable residential place in Hanoi for at least three continuous three years. The Law on Capital, to oust the existing Ordinance on Capital, is expected to take effect on July 1, 2013. However, this regulation goes against Clause...

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...

Banking major students in Vietnam fear of becoming redundant

Not only the students studying at domestic universities, but the ones graduating from foreign schools also find it difficult to get the jobs in the banking and finance sector nowadays. The dream of banking students Finishing the Hanoi Foreign Trade University in 2011, one of the most reputable schools in Vietnam, Vu Duc Hai immediately […]

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...

Japanese businesses need more Vietnamese workers

Japanese businesses are seeking to employ 10,000 additional Vietnamese workers, mostly in agriculture and aquatic product processing, in 2012. * Japan tops foreign investors in Vietnam * Japanese investment encouraged in Vietnam The information was unveiled at a conference in Dong Nai province to introduce Japanese employment opportunities to Vietnamese students. The event was jointly […]

Vietnam, Laos, Cambodia seek investments for Mekong sub region

Delegates attending a forum on investment and cooperation for the Mekong sub region, held in the central highland province of Dak Lak on November 9, all agreed that Vietnam, Laos and Cambodia need to work on common preferential policies to attract lucrative investments for the Development Triangle Area. The Cambodia-Lao-Vietnam Development Triangle Area comprises of 13 provinces, covering a total natural land area of 144,000sq.km and a population of approximately seven million people. Opening the forum, Dao Quang Thu, deputy minister of Planning and Investment, said Vietnam has now 112 investment projects in Cambodia with a total investment of US$...

Increasing investment in Development Triangle Area

(VOV) - Vietnam, Laos and Cambodia need to work on common preferential policies to attract investment in the Development Triangle Area. The view was shared by delegates to a forum on investment and cooperation in the Mekong subregion, held in Dak Lak province on November 9. They said these policies aim to take advantage of […]

Nowhere to hide

A darker picture about the banking system is emerging, analysts say, as some commercial lenders report sharp drops in profits or even losses. The time has come when banks can no longer hide their weaknesses, they add. Asia Commercial Bank reported losses of VND520.67 billion (US$24.9 million) in the third quarter, compared to a profit of VND658.6 billion the same period last year. According to the Ho Chi Minh City-based lender, often known as ACB, the loss was caused...

English teaching programs mushrooming in Vietnam’s big cities

Most of the primary schools in Hanoi now run the international English teaching programs together with the standard program set up by the Ministry of Education and Training (MOET...