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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...

VND1.5Tln Government Bonds Are Sold Via Auctions Last Week: BVSC

VND1.5 trillion worth of government bonds were sold out of VND4 trillion auctioned volume in the previous week, the local newswire Gafin.vn reported, citing data from BaoViet Securities Company (BVSC). The State Treasury of Vietnam sold out VND1 trillion 2-year government debts at fixing of 9.5%, down 0.2% from the previous auction. The bid-to-cover ratio was 4.7. The Vietnam Development Bank (VDB) also managed to sell VND400 2-year bonds at 10.5% and VND100 3-year debts at 10.6%. Meanwhile, the Vietnam Bank for Social Policy (VBSP) failed to sell any bonds in its auction. The bid-to-cover ratio...

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...

Vietnamese firms leave home soil to int’l players

While a number of Vietnamese businesses have had to dissolve or declare bankruptcy after failing to withstand the economic turbulence, many foreign-invested companies have expanded operations and increasingly taken more market share in the staple export commodities of the country. FDI businesses account for some 60 percent of the US$12 billion worth of export turnovers of textile and garment in the year to October, said Dang Thi Phuong Dung, deputy chairwoman of the Vietnam Textile & Apparel Association (Vitas). South Korea now tops the...

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...

Vietnam Business Briefs November 09, 2012

Saigon Commercial Bank from this Saturday to December 25 will give discounts for individual customers using domestic payment services at its transaction points nationwide. * Kinh Do Binh Duong Joint Stock Company has registered to buy eight million shares of Kinh Do Corporation (KDC) to spur its holding from 3.3 percent to 8.3 percent. * Saigon-Hanoi Commercial Bank has expanded telecom fee payment service to customers of Vietnam Posts and Telecommunications Group, or VNPT, in HCM City. * Amersham Industries Limited has registered to sell two million shares of Vietnam Dairy Products Company (VNM) within one month starting from...

PRESS DIGEST – Vietnam Newspapers – Nov 9, 2012

FINANCIAL NEWS: VIETNAM NEWS -- The central bank plans to buy gold from the public to prevent gold hoarding by wary savers, said governor Nguyen Van Binh. LAO DONG -- Asia Commercial Bank said it has offered gold deposit certificates with rates of 0.8-1.8 percent. -- Partly private VBBank has received the central bank's approval to raise the registered capital to 5.7 trillion dong ($273.7 million) from 2.05 trillion dong. -- VietinBank , the country's second biggest partly private lender...

Vietnam Business Briefs November 07, 2012

* Saigon Shipping Joint Stock Company (SGS) announces that its Saigon Queen ship, with a crew of 22 on board, sank off Sri Lanka October 30. The firm said that eighteen crewmembers have been rescued while the four others, including the captain, remain missing, adding that the current value of the ship reached VND73.5 billion. * FLC Group JSC (FLC) will transfer its all 5 million shares in FLC Securities JSC to individuals who want to buy until November 11 at the price not lower than VND4,600/share, the firm said in its resolution of Board of...