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Seminar on Viet Nam-Japan investment, trade cooperation 2008-03-14 06:02:00 A plethora of opportunities are now available for Japan
ese investors in Viet Nam , according to an official from the Tokyo Metropolitan Small Business Centre.
At a seminar on investment
, trade and tourism promotion between Viet Nam and Japan held in Tokyo on March 13, , Oba Yoshiyuki cited Viet Nam’s stable and high economic growth rate, an abundant and skilled human resource and the improved Read more:Seminar
Viet Nam to host int'l network, data security conference 2008-03-14 05:20:00 Viet Nam will organize an international conference
and showcase christened Security World 2008, the biggest of its kind, with the participation of 30 prestigious speakers and over 20 well-known information technology companies from March 19-20, organizers said Friday.
During the event themed "Strengthening Security Awareness and Deployment" and held by the General Department of Technology Read more:network
, security
, data security
Viet Nam wins rice tender in Philippines 2008-03-14 05:18:00 Vietnamese enterprises have won a bid to sell 185,000 tonnes of rice to the Philippines
, according to local newspaper Youth on Friday.
Accordingly, 12,500 tonnes of five-percent broken rice priced at 745 U.S. dollars per ton, 12,500 tonnes of 15% broken rice at 738 dollars per ton, and 160,000 tonnes of 25% broken rice, will be delivered from March to late May.
The country still targets to
Largest poultry trading area built in Ha Tay 2008-03-14 05:10:00 Northern Ha Tay province is working to turn the Ha Vi Market in Thuong Tin district into the country’s largest poultry processing and trading area.
Currently under construction, the 1.7ha market is estimated to cost 15 billion VND (937,500 USD).
The area, which is located far from residential areas to prevent any disease transmission, includes a modern processing facility, a trading area, cold Read more:Largest
Climate change hits cashew, rubber growers 2008-03-14 05:09:00 Unseasonal rains last weekend have led to great losses in the cashew nut and rubber industries in several southern and Central Highlands provinces, with other sectors reporting losses caused by global climate change.
The southern province of Binh Phuoc tops the country in cashew and rubber growing, with 170,000 ha and 120,000 ha, respectively.
Rains and strong winds last weekend destroyed part Read more:Climate
, Climate change
March 17: deadline for banks to purchase compulsory bonds 2008-03-14 05:03:00 The deadline of March
17 for banks
to purchase compulsory
bonds will not be extended as banks had expected.
The governor of the State Bank of Viet Nam has sent a dispatch to commercial banks, instructing them to strictly follow the instruction to purchase compulsory bonds by March 17. The Monetary Policy Department will have to report to the governor about the banks’ purchase by the end of March
70% car tax: local manufacturers happy, consumers burdened 2008-03-14 05:00:00 The Ministry of Finance (MOF) has finally decided to raise the tax rate on brand new and used imports by 10% after it three times lowered the tax. It seems that the ministry does not know for sure what it needs to do to encourage the local automobile industry.
Explaining its decision to raise the tax rate, MOF said that this aims to reduce the trade deficit, and control imports as too many cars Read more:consumers
Dutch center to push Vietnam agriculture goods in Europe 2008-03-14 04:59:00 A Dutch
government agency aims to help southern agricultural businesses increase their export values and promote their goods
in the Europe
an Union.
The Center for the Promotion of Imports from developing countries, known by its Dutch acronym CBI, signed the agreement with the Ho Chi Minh City Center for Agriculture Consultancy and Support (HCACS) Thursday.
The project will focus on Dong Thap, Read more:Vietnam
Industrial parks mushroom in southern province 2008-03-14 04:57:00 The administration of southern Dong Nai province has approved a project to build the Dau Giay industrial park, making it the 26 th of its kind so far in the province.
The freshly-approved 330 ha project has brought the total areas marked off for industrial parks in the province to over 7,000 ha.
The existing 25 parks have managed to lease out over 63 percent of their territory to investors, Read more:Industrial
City Leader Encourages Mercedes to Expand 2008-03-14 04:55:00 Le Hoang Quan, chairman of the Ho Chi Minh City People’s Committee, has encouraged Mercedes
-Benz Viet Nam (MBV) to expand operations in this country, pledging to offer all assistance.
Visiting MBV’s office yesterday along with his deputy Nguyen Trung Tin, he praised the German carmaker for its rapid growth in Viet Nam after hearing a report on its business results and investment plans from Read more:Leader
, Expand
US$ interest rate down everywhere except Vietnam 2008-03-14 00:40:00 As US$ interest rate
s fall on the world market, they are rising in Viet Nam. While banks refuse to buy dollars from individuals, they are raising US$ deposit interest rates to attract dollars.
The US$ interest rates have been falling since the beginning of 2008, as the US FED cut basic interest rates twice, to 3.5% and then to 3%. It is likely that FED will cut the interest rate once more to 2% Read more:Vietnam
, everywhere
Viet Nam to take drastic measures to curb inflation 2008-03-13 23:48:00 Viet Nam is focusing on tightening management over its monetary market, promoting local bourse and enhancing production to combat high inflation, in a move to ensure the country's stable macroeconomic development.
Facing the consumer price index (CPI) of 15.67% in February, the highest in more than a decade, the Vietnamese government has recently asked the State Bank of Viet Nam (SBV), the
SBV widens dong trading band further to fight inflation 2008-03-13 23:44:00 To tackle inflation and ease a shortage of dong, the State Bank of Viet Nam (SBV) widened the daily interbank trading band for the dong/US$exchange rate on March 10 to +/-1% from +/-0.75%. The band had previously widened from +/-0.5% on December 24. The dong/US$exchange rate fell to 15,862 dong per dollar -the floor rate based on the new trading band and official fixing rate of 16,022 dong per Read more:fight
Viet Nam plans trade centre in Czech Republic 2008-03-13 23:32:00 The Vietnamese Commercial Office in the CzechRepublic
has asked the Ministry of Industry and Trade to set up a trade promotion centre in the Czech Republic
.
Two-way trade turnover between the two countries reached 250 million USD last year and the Czech Republic ranks as the 40th country investing in Viet Nam .
Viet Nam exports footwear and textiles to the country, and would like to sell rice, Read more:plans
Russian bank wants to invest in city 2008-03-13 22:27:00 Russian International Bank for Economic Cooperation is looking for invest
ment opportunities in HCMC to engage in, especially in the fields of waste treatment and export finance, the bank's executives said here yesterday.
Nguyen Thi Thanh Hop, board member of the bank, told administration manager of the HCMC government Nguyen Van Lam at a courtesy call at the City Hall that the Russian bank had Read more:Russian
, wants
Asian Banker Summit opens in Ha Noi 2008-03-17 11:06:00 Leaders of Asia’s financial institutions have gathered alongside regulators, analysts and investors at the AsianBankerSummit
2008 in Ha Noi.
The four-day event, which began on March 16, is focusing on financial issues including credit risk, cash management and banking regulations.
Asian Banker Summit Advisory Board Chairman David Eldon said the summit is a chance for the participants to
Wind power plant to be built in Binh Dinh 2008-03-17 09:38:00 Central Binh Dinh province has licensed a 526 billion VND (nearly 33 million USD) project to build a wind power
plant at the Nhon Hoi Economic Zone.
The 27MW plant, invested by the Saigon-Binh Dinh Energy Joint Stock Company, will be built on an area of 74,000 sq.m in Phu Cat district.
Work on the plant is slated for late this year and it will become operational in 2010.
Czech business delegation looks to Viet Nam 2008-03-17 09:37:00 A delegation of 14 major Czech
businesses will join Czech Prime Minister Mirek Topolanek when he pays an official visit to Viet Nam from March 19-24.
According to the Viet Nam Chamber of Commerce and Industry (VCCI), Czech businesses are keen to cooperate with Vietnamese businesses in the areas of industry and transport, law and business.
The VCCI says they are also interested in the mining and
Why don’t exporters diversify payment currencies? 2008-03-17 08:11:00 Vietnamese companies have been heavily criticised for attaching themselves to the dollar in making payments for export deals, due to which they have been suffering when the dollar devaluates. In response, the companies said that it is not easy to change the custom of using dollars in making payments overnight.
Rooted habit
According to the Forex Management Department under the State Bank of
Viet Nam's second oil refinery to have more Japanese business involvement 2008-03-17 06:48:00 Japan's Mitsui Chemical is expected to become the fourth partner of a joint venture to develop Viet Nam's second oil refinery in central Thanh Hoa province.
The Nghi Son oil refinery has been the subject of long negotiations between state-owned Viet Nam National Oil and Gas Group (PetroVietnam) and its two existing partners, Japan's Idemitsui and Kuwait's Petroleum International, local Read more:Japanese
Belgian Company Proposes Space Partnership with Viet Nam 2008-03-17 05:41:00 The Belgian
software engineering company Space
bel has proposed a partnership to upgrade Viet Nam’s space technology until 2020.
In response to the proposal, the Prime Minister has assigned the Vietnamese Academy of Science and Technology and the Ministry of Planning and Investment to work with Spacebel to clarify the financial assistance to be provided by the Belgium government for the project,
Is it necessary to limit foreign currency credit? 2008-03-17 05:37:00 Experts have warned that there are signs of ‘hot foreign currency credit
’, which may cause bad consequences for banks’ operations. The central bank is considering limiting loans in foreign currencies.
High demand for foreign currency loans
In the first 11 months of 2007, foreign currency credit grew by no more than 4% per month. Meanwhile, the credit unexpectedly rose by over 6% in December
Action needed on railway plan: Minister 2008-03-17 05:35:00 Key railway
projects scheduled for 2008 will help speed up the development of a modern national railway system in Viet Nam, Minister
of Transport Ho Nghia Dung has said.
At a meeting on the projects held in Hanoi this month, Dung said although investment was high, work was progressing very slowly. He urged responsible agencies to write up detailed plans to make sure the projects would be put Read more:Action
Quang Ngai seeks ‘special economic zone’ status for Dung Quat 2008-03-17 05:34:00 Quang Ngai Province has petitioned the central government to upgrade the Dung Quat Economic Zone into a special economic zone, said Le Quang Thich, Office Manager of the provincial People’s Committee.
According to the request, Dung Quat will be expanded southward by 5,000 hectares to include Be Island and Ly Son District. A high-level service area will be established on Be Island.
The zone’s
Viet Nam Removes Pre-Tanned Leather Tariff 2008-03-17 05:20:00 Viet Nam's Finance Ministry has recently applied import tax of zero percent on pre-tanned leather of goats, pigs and reptiles instead of 3% previously.
The tariff on hide has remained unchanged at zero percent, and that on tanned leather of goats, pigs and reptiles between 3% and 5%
Viet Nam gained US$769 million from exporting footwear, including leather shoes in the first two months of this Read more:Leather
Viet Nam Money-Rates ease on ample supply, after T-bill sale 2008-03-17 05:12:00 The Vietnamese dong was in ample
supply in the country's interbank markets on Monday, after banks raised enough funds to buy compulsory treasury bills issued by the central bank, dealers said.
Ample liquidity helped bring down overnight lending rates ahead of the treasury bill sale results expected on Tuesday.
Liquidity had been tight in January and February as the central bank tightened Read more:Rates
, Money
HT Mobile to “send” subscribers to S-Fone 2008-03-17 05:05:00 HT Mobile
, a joint venture between the US’ Hutchison group and Hanoi Telecom, on March 15 received a licence to invest in e-GSM mobile network.
The firm also announced it will “send” 200,000 subscribers to S-Fone during its change of technology from CDMA to e-GSM.
Pham Ngoc Lang, Chairman of the Executive Board of Hanoi Telecom, admitted that changes in the global mobile information industry
Viet Nam boosts seafood exports to EU through Italy 2008-03-17 05:04:00 Viet Nam and Italy
will cooperate to boost the export of seafood
and agricultural products to the European Union (EU).
To this effect, a memorandum of understanding (MoU) on food quality control has been signed by Nguyen Tu Cuong, Head of the National Fisheries Quality Assurance and Veterinary Directorate (Nafiqaved), and Romano Marabelli, General Director of the Italian Ministry of Health’s Read more:exports
Farmers need more help to boost rice sales 2008-03-17 04:57:00 In 2007, Vietnamese rice exports were just $5 cheaper than rice exported from Thailand. Prof Vo Tong Xuan tells the Sai Gon Economic Times why he doesn’t think this is indicative of a narrowing price gap.
What do you think of the idea that the pricing gap between rice of Viet Nam and Thailand is narrowing?
The short gap in price between rice exported from Viet Nam and that from Thailand is
Trade official urges banks to buy weak dollar 2008-03-17 04:49:00 Deputy Minister of Industry and Trade
Nguyen Thanh Bien has called on banks
to buy export-derived dollars and lower sky-high interest rates.
Local banks should give priority to buying dollars from exporters who are struggling due to the weak greenback, high inflation and the tightening of monetary policies by the central bank, Bien said at a meeting with local exporters last Friday.
"Banks
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