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.

Auto tax debate continues, business suffer

An importer has accused customs agencies of deliberately delaying procedures to put difficulties on the enterprise. Customs agencies deliberately put difficulties in enterprises’ way

OceanBank offers preferential interest rate

The program is designed for enterprises in sectors of agriculture production, export and other business sectors. Accordingly, the bank’s the most preferential lending interest rate of 16% per year will be offered for sectors of agriculture and export and the minimum lending interest rate of 17% per year is for other business and production fields.

Vietcombank to lower lending rate for exporters

Accordingly, the preferential lending interest rate of 17-19% per year will be offered to customers in sectors of production, export, agriculture and rural area. Particularly, customers subject to aforementioned borrowers in HCM City will enjoy the preferential lending interest rate of 16.5% per year. Exporters who use payment services via Vietcombank will be given the most preferential lending interest rate of only 16% per year. In addition, Vietcombank also set aside of four trillion dong to launch lending program for enterprises in the sectors of export of seafood and processing and export of wooden products whereby the preferential lending interest rate for this program will be only 16% per year.

Rise in bad bank debt exposes economy

In a workshop with the World Bank in June, the council’s vice chairman, Le Xuan Nghia, said that bad debts were a major concern because a large part of banks’ capital had been lent to inefficient State-run enterprises.

Bad debt of Vietnam’s whole economy at 7-8pct: Bidv’s chairman

According to the representative of state-run enterprises, the bad debts of some banks are still higher than the average level of the entire banking system, of which, Vietnam Bank for Agriculture and Rural Development (Agribank)’s bad debt is 6.67% and Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB)’s bad debt is 3.47%. Notably, Agribank still posted low capital adequacy ratio (CAR).

Int’l Food and Hotel Vietnam 2011 exhibition

The three-day event will draw the participation of 1,800 domestic and foreign businesses. Through the exhibition, enterprises operating in the hotel and food industry in Vietnam will have the opportunity to learn about new technologies, products and advanced services from around the globe.

Vietnam spends $3.13 bln on foreign aids repayment

Among the expenditure, the state budget spent up to 75.6 percent of the estimate on compensation for preferential credit interest rate difference, 73.9 percent of the estimate on supporting the national reserve and 63.6 percent of the estimate on supporting capital for state-owned enterprises.

FDI should be on the right track

Many foreign-invested enterprises in Vietnam are struggling at the bottom of the value chain. “On average, only 5 percent foreign investors nationwide invests in advanced technology production and information and communication technology; 5 percent takes part in scientific and technical services; and 3.5 percent in insurance or finance, which all require high-caliber workforce,” states the PCI report. “Foreign-invested businesses’ trend toward raw material exploitation should be scrutinized and analyzed carefully,” Dr. Tran Dinh Thien, director of the Vietnam Institute of Economics, stressed.

Business start-up rules contradict intent of law

The Law on Investment, enacted the same year, affirmed the nation’s non-discriminatory approach to both domestic and foreign investors. Despite the admirable objective of creating a level playing field for all enterprises, establishing an enterprise in Viet Nam remains a tangled web.

Over 16.5tr dong to build Dong Hoi seaport in central

As planned, to 2020, this seaport will be able to receive 30,000-50,000 dwt ships. The seaport has total expected investment of 16.555 trillion dong, of which, the investment till 2015 would be about 10.574 trillion dong. This capital source will come from the investor of Dong Hoi industrial zone and capital mobilisation from other enterprises.

Foreign invested enterprises complain about customs procedures

Arepresentative from Amcham, said at the workshop on the investment environment improvement workshop held in HCM City on April 26, that enterprises not only have to spend money, but also a lot of time to fulfill customs procedures. It takes exporters three or four days on average to get customs clearance. Especially, it would be a big trouble to enterprises, if they export perishable products and they have to wait for customs procedures.

Material shortage causes headache to cashew nut exporters

In principle, Vietnam can import materials from other countries to process domestically to fulfill export contracts. However, according to Hoc, due to the fighting situation in the Ivory Coast, the main supplier of raw materials to Vietnam; enterprises would only be able to import cashew nut materials after May 15. In 2010, Vietnam purchased 217,000 tons of cashew nuts from the Ivory Coast and is planning to import the same volume this year from the country.

US dollar supply for banks on increase

Supply of US dollar is increasing strongly at commercial banks, showing that both enterprises and residents have boosted sales of US dollar to banks. This directly has made US dollar/dong forex rate continuously corrected.

FIEs’ rising strikes prompt union review

The Vietnam General Confederation of Labour’s Policy and Law Division head Nguyen Duy Uy said new regulations on inspecting foreign-invested enterprises’ (FIEs) trade union organisations were to be proposed as part of amendments to the existing Trade Union Law. These amendments would be tabled at the National Assembly meeting in October.

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