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Who receives highest pay in Vietnam?

VietNamNet Bridge – Hundreds of millions of dong are paid to the CEOs who work in the “hot business fields” such as finance and banking, power and oil and gas. CEOs in state owned conglomerates receive tens of millions of dong How much the CEOs of Petrolimex (petroleum importer and distributor) and EVN (the Electricity of Vietnam) receive for their jobs every month is the thing that most people are interested in. EVN’s General Director Pham Le Thanh once revealed that the average pay to EVN’s workers in 2009 was 7.3 million dong, saying that this was a modest pay level. In...

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 Exporters Become The Victims Of Nasty Tricks In Foreign Markets

VietNamNet Bridge – Export companies have complained that the situation has become increasingly strained towards the end of the year. Importers would be ready to play nasty tricks to control the import prices. Too many kinds of tricks to play It is now more difficult than ever to export products. Exporters not only have to move heaven and earth to borrow capital, arrange material import deals, but also think about how to deal with the tricks played by importers to disturb the export. Nguyen Van Dao, General Director of Go Dang Company, related that importers would send small groups of...

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...

China prohibits fresh shrimp imports from Vietnam

VietNamNet Bridge – Vietnamese officials have been astonished with the information that China has prohibited to import fresh shrimp from Vietnam. The Ministry of Agriculture and Rural Development (MARD) has requested its belonging agencies to clarify why China has released the decision to prohibit importing fresh shrimp from Vietnam. No state management agency had been informed about the news until a seafood company sent a dispatch to the Ministry of Industry and Trade (MOIT), informing that it could not export shrimp to China. An official of MOIT said the information came from Tuong Huu Company headquartered in Tan Phu district...

Vietnam: Keeping inflation below 8pct in 2013

It requires constant efforts in the next 10 years to contain inflation, stabilise macro-economy, and build a firm foundation for growth. * Inflation rates should be kept at 8 percent: PM * September inflation causes concern * Keeping credit growth in harmony with inflation This was emphasized by the National Assembly in its newly adopted […]

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 Deputies Rise To Question Time

HA NOI (VNS)— With burning issues surrounding petrol problems, inventory clearances and the inundation of low-quality products in the domestic market, yesterday's National Assembly question and answer session was a heated affair. Minister of Industry and Trade Vu Huy Hoang was the first member of the Government summoned to answer queries raised by NA deputies. Hoang admitted there are still shortcomings in market management, causing the deluge of low-quality and...

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 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...