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Vietnamese software firms consider Japan as the major market

The Japanese software market is really attractive in the eyes of Vietnamese software outsourcing firms. Up to 80 percent of Vietnamese firms consider Japan as the core market.

Despite problems, 2011 FDI spending equals 2010

In 2011, the country attracted $14.7 billion in FDI, equal to 74 per cent of 2010. Over $11.5 billion came from 1,091 newly-licensed projects while the rest was from 374 existing projects that increased their capital.

EVNTelecom asks for government’s approval to sell 12pct stake for VTC

In January 2011, the government agreed the plan to make privatization for EVNTelecom whereby EVNTelecom will sell a part of state holding to strategic investor and offer preferential shares to the employees. Of which, EVN will hold 50.6% stake, 0.4% stake will be held by the employees and 49% stake for FPT Co and FPT Telecom Joint Stock Co (FPT Telecom).

Vietnamese enterprises expanding into international markets

Hoang Anh Gia Lai Group has become one of the most successful investors in this neighbouring country with the total investment capital of US$1 billion in such areas as rubber, sugar cane, mining and hydropower industries.

Ernst & Young Vietnam role to be examined

The State Securities Commission (SSC) would check DVD auditing files in Ernst & Young in late September, according to SSC’s vice chairwoman Vu Thi Kim Lien. The Accounting and Auditing Department and Vietnam Association of Certificated Public Accountants also join the inspection. A&C Auditing & Consulting, which audit the DVD’s 2008 financial statement, would be checked as well.

Young Vietnamese wins two int’l piano awards

Last year, Mi won the Gold Prize at the Music Festival and Competition Cheonan in the Republic of Korea and the first prize at the F. Chopin International Piano Competition in Singapore. She is voted as one of the 20 top young representatives of Vietnam.

National road set for upgrade

IDICO-IDI is expected to collect tolls until February 2033. The project would help ease traffic congestion and reduce the number of traffic accidents on National Road 1A from An Suong – An Lac, which runs through Binh Tan District, District 12 and Hoc Mon District, said Tran Quang Phuong, director of the city’s Department of Transport.

Politics & Laws

Ministry rejects import-export tax changes

At an earlier working session between the two ministries, the Ministry of Industry and Trade (MoIT) requested the Ministry of Finance (MoF) to hike import tariffs on NPK fertiliser from the current 6 per cent to 6.5 per cent; delay imposition of a 3-per-cent export tax on steel ingots and finished steel; and slash the export tax on coal from 20 per cent to 10 per cent.

Vietnam and World

Government okays anti-dumping suit against US

A recent VASEP conference pointed out that if Vietnam failed to pursue the lawsuit, it could lose the US market to other big exporters like India and Thailand who had won a similar suit, Thanh Nien newspaper said.

For foreigners
  • Adb: policy tightening will lower inflation
  • HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale
  • Vietnam govt to service debt for troubled cement projects
  • Calm heads prevail as the forex market to remain cool
  • Further fiscal & monetary tightening in coming months
  • IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011
  • Vietnam’s dong has best week since 1997 after dollar rates curb
  • Vietnam tightens control over state-bank partnership
  • Foreign investors list problems in Vietnam
  • Foreign invested enterprises complain about customs procedures
Travel

Tay Ninh Province reveals the wild beauty of the South

Passing through the huge shelter was like walking through a stone maze, with millions of small stones arranged in all sorts of different shapes. The fresh air and cool atmosphere enhanced by the murmuring stream and twittering birds were like something out of a fairy tale.

Vietnam the hidden charm

The country is hot right now: the summer monsoon (April to October) has arrived, bringing hot, humid weather to the whole country. And if you’re looking for a place to cool off, you’ll be spoilt for choice Vietnam has some of Southeast Asia’s best beaches.

On golden pond

One of the group, Duong Quang Chan, an overseas Vietnamese businessman, who has lived in the US for years, was returning on this occasion to seek out business opportunities and said he was considering a tourism project in Tra Vinh, which also happened to be his grandmother's birthplace.


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