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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 […]

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...

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 […]

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...

Cambodia, a potentially lucrative market for Vietnam

Exporting Vietnamese products to Cambodia is beneficial to both countries, however, in order to hold onto this market, Vietnamese firms must remain proactive and consistently advertise their brands and improve quality of their products and services. In the last few years, Vietnamese exporters have seen Cambodia as a potentially lucrative market for investments and consumer products. Because most consumer goods in Cambodia are imported, Vietnam can easily fulfill this void and offer products of quality, better design and price. According to Vu Thinh Cuong, commercial counselor of Vietnam in Cambodia, trade between Vietnam and Cambodia reached US$2.8 billion last year...

Vietnam’s Overseas Study Consultancy Put Under No Control, Students Suffer

The number of students becoming the victims of overseas study consultancy firms’ trickeries has been increasing. Meanwhile, the firms cannot be prosecuted for their swindling, because there has been no regulation on the punishments.

Vietnam’s FDI falls almost 50 percent in four months

Vietnam’s foreign direct investment (FDI) plummeted during the first four months of the year with only USD4 billion earmarked by investors from abroad, down 47.8 percent against the same period last year, according to the Foreign Investment Agency. Up to 262 new foreign-invested projects, capitalised at USD3.2 billion, were licensed from January to April, an annual decrease of 54.9 percent. FDI disbursement, an important factor to evaluate the efficiency of investment inflows, however, still increased nearly 1 percent, reaching USD3.62 billion during the period. In another bright spot, 88 existing projects registered an increase in their levels of capital by a total of USD...

PRESS DIGEST – Vietnam Newspapers – Nov 5, 2012

Ho Chi Minh City-based Sacombank was negotiating with some foreign institutions on selling a 15-percent stake to a strategic shareholder and results of the deal could come by early 2013, newly appointed chairman Pham Huu Phu said. FINANCIAL NEWS: VIETNAM INVESTMENT REVIEW -- The growth pace of non-performing loans has been slower since June, in line with the gradual decline of inventories, State Bank of Vietnam Governor Nguyen Van Binh said. -- Ho Chi Minh City-based Sacombank was negotiating with some foreign institutions on selling a 15-percent stake to a strategic shareholder and results of the deal could come by...