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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...

GMO RunSystem licensed for Vietnam domain name registration service

GMO RunSystem, a Vietnam unit of Japan’s GMO Internet, last week got a license for its Vietnamese domain name registration service, officially foraying into the potential local market with a population of nearly 90 million. Ngo Van Tau, director of GMO RunSystem, said there had been over 300,000 entities having the Vietnamese domain name dot-vn registered in the country, so the market still had room for further growth thanks to a high internet penetration rate of more than 36 percent. The internet services market in Vietnam has grown by leaps and bounds over the years, with the country ranking 20th in the...

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...

Million USD ships in Vietnam are dying

VietNamNet Bridge – The owners of these ships cannot lease or sell them. The million-USD ships are becoming piles of scraps at private wharves across northern provinces. The wharf behind a hill in An Son commune, Thuy Nguyen district, the northern port city of Hai Phong, is the home to the ships that were built […]

VNR spends over 100b dong to pay 10pct cash dividend

Vietnam Securities Depository Centre (VSD) has recently announced about dividend payment of Vietnam National Reinsurance Joint Stock Corp (Vinare-VNR) for the first round of 2012 at 10 percent in cash, equaling to 1,000 dong per share. Accordingly, the ex-interest date is on November 16 and the registration deadline is on November 20 to close the […]

Vietnam Car Import Volume Unchanged, Value Down

The number of completely built-up (CBU) cars imported into Vietnam in October is only 2,000 with an import value of some US$50 million, unchanged in volume but falling US$12 million in value compared to the preceding month. The import volume in October is also equal to the figures in July and August, with a small difference of some millions of U.S. dollars in values. Since January, the monthly CBU car import volume has always been around 2,000 units. Imports in the first ten months totaled 22,000 units worth some US$498 million, down 54% in volume and 44.9% in value against the...

Who owns patents to Vietnam’s state-financed inventions?

(VNS) Under the Law on Intellectual Property, the following organizations and individuals have the right to patent an invention: the individual who created the invention by his or her own efforts and expense, and organizations or individuals who have provided the inventor with funds and materials in the course of employment or from the State budget, unless otherwise agreed upon by the parties. Government Decree No103/2006/ND-CP further provides that, when an invention is created on the basis of full financial, material and technical investment...

Water project to help Vietnam’s power, steel industries

A $142 million water project in Vung Ang Economic Zone is expected to supply industrial water for the Vung Ang I thermal power plant this month and ease water shortages for the rest of the economic zone. Dang Van Thanh, deputy director of Vung Ang Economic Zone (VAEZ) Management Authority, said that this water project was racing toward on a trial run on November 15, 2012. “Our water project with the designed capital of one million cubic metres of water per day would ensure stable water supplies for VAEZ as well as push key projects ahead,” Tran Dinh Dung, consultant for...

It’s a dog’s life

Unfettered by regulations, the dog meat industry engages freely in extremely unhygienic, unscrupulous and cruel practices...

Vietnam Airlines launches Tet tickets on Thursday

VALC leases one more airplane to Vietnam Airlines Vietnam Airlines from to day will sell tickets for flights in the upcoming Lunar New Year holiday, with 1,000 more flights added or an additional 174,500 seats for passengers on ten routes with high travel demand. The extra flights will be carried out in the peak time from January 25 to March 2 which falls on the period from the 14th day in the twelfth lunar month to the 21st day in the first lunar month. Vietnam Airlines said it would increase an extra 82,600 seats for the route between HCM City and Hanoi, rising 27 percent compared...