Overseas Vietnamese to set up bank in Vietnam

A group of Vietnamese living abroad has said they are planning to establish a join-stock bank to back investment projects involving expatriates returning to do business in Vietnam.

The Overseas Vietnamese Business Club (OV Club), based in Ho Chi Minh City, is launching a campaign to attract the support of expatriate Vietnamese to the plan.

The bank would provide support for investment projects involving overseas Vietnamese in all provinces of the country, said Nguyen Ngoc My, OV Club chairman.

Vietnam’s theatre, film firms re-invest profits in new sites

With major revenues generated from the growing popularity of the film industry in Vietnam, movie and film companies are moving to erect new complexes to meet the demand of the increasing number of movie-goers.

Moviegoers in Ho Chi Minh City now frequent existing high-grade cinemas like the Diamond Cinema, Dong Da, and Cinebox filling them to capacity, thus generating interest in building new venues.

Vietnam’s WTO entry within reach

Vietnam has huge potential to join the World Trade Organization by the end of this year, Vietnamese and foreign trade representatives said after a recent unofficial round of multilateral talks.
“WTO accession by the end of this year is within reach,” said Hoang Phuoc Hiep, a Vietnamese negotiator, who has just returned to Hanoi from Geneva after unofficial multilateral talks.

“After unofficial talks, I think Vietnam has a good chance to join the WTO in December this year if the country can complete bilateral negotiations before September,” he said.

Modernise or else, HCMC industry told

HCM CITY — HCM City industries are beginning to modernise, yet still more needs to be done according to experts, if companies want to compete in the global market place.

Professor Dr Nguyen Mong Hung, Chairman of the HCM City’s Union of Science and Technology, said hundreds of enterprises in the city are beginning to automate their businesses using sophisticated computer systems.

In the field of garments and textiles, Characteristics of Computer Aided Design and Manufacturing (CDA/CAM) and Computer Numeral Control (CNC) systems are the two most common systems.

Draft regulations will benefit US-owned companies

HA NOI — Draft regulations now being written by the Ministry of Trade (MoT) will allow US - owned enterprises in Viet Nam to import materials and goods.

The new regulations accord with provisions of the 2002 Viet Nam – US Bilateral Trade Agreement, says a statement issued by MoT.

The provisions stipulate that America-owned producers and manufacturers would be allowed to import material three years after the agreement became effective.

The exceptions are the export-processing industry and services, including hospitality, insurance and consultancy, it says.

Global fluctuations boost VN economy

HCM CITY — The price fluctuation of essential products like rice, steel and gold on the world market in recent days has had a positive impact on the domestic economy and for consumers.

The average export price of Viet Nam’s rice is US$247 a tonne, up $40 a tonne compared to last year. The country has exported 1.87 million tonnes of rice worth $466 million so far this year.

Although the export rice volume has only increased ten per cent over the same period last year, its export value has increased by 37.6 per cent.

Viettel, Ericsson sign deal to boost GSM network

HA NOI — Ericsson, the world’s leading mobile systems supplier, signed an agreement yesterday with Viettel, Viet Nam’s third-largest mobile phone company, to expand Viettel’s Global System for Mobile Communication (GSM) network.

The Swedish firm said that under the agreement it will provide Viettel, which is run by the Vietnamese military, with core and radio network access equipment, service layer platforms, network rollout and support services.

Information about the agreement’s value and timeframe for implementation was not revealed by Ericsson.

Vietnam mobile market heats up

16:21' 16/05/2005 (GMT+7)
VietNamNet – The mobile market in Vietnam is proving to be very lucrative, and is expected to have a high growth rate in future, according to experts at the second Mobile Vietnam Meeting.

In 2005, two additional providers were licensed to establish mobile phone services - the 092 network for Hanoi Telecom Corporation, and the 096 network for the Vietnam Power Telecom Corporation (VP telecom - bringing the number of domestic mobile phone service providers to six.

Disney goes on air in Vietnam

Starting May 19, Disney programs will be broadcast on the cable channel HCMC Television as part of the company’s plans to penetrate into Vietnam’s potential market, local newspaper Tuoi Tre reported.
Disney-owned TV channels Disney and Playhouse Disney will debut on HTV with the theme “Hello Vietnam.”

Vietnam builds first wind power complex

Vietnam is developing its first wind power generators at a cost of 820 billion dong ($52 million) to meet soaring demand for energy, officials said on Wednesday.

Construction of the wind power complex has begun in the central coastal province of Binh Dinh, 650 km (404 miles) north of Ho Chi Minh City, officials from the Central Region Wind Power Development and Investment Co., the project operator, told Reuters.