Foreign investment: prime location Vietnam

Fri, 10/15/2004 - 16:16

Vietnam is one of the investment success stories of the last decade, with a wide variety of industries locating facilities in one of the 76 industrial parks (IP) and export processing zones (EPZ). Some investors produce for the domestic market, but many use Vietnam as a base for exports into the East Asian region or North America, especially since the implementation of the Bilateral Trade Agreement between Washington and Hanoi in 2001.

Textile-garment quota fees to US reduced

Wed, 10/13/2004 - 04:14

 
VietNamNet – Nineteen textile-garment categories exported to the US have their quota fees cut by 70%.

Part of a newly-issued decision of the Ministry of Finance (MoF), the cost reduction will be applied to 19 categories exported to the US as of January 1, 2005.

The categories have been billed as ‘hot’ product in high demand, including men’s and women’s cotton jackets, men’s and women’s cotton knit shirt, and cotton blended shirt, cotton blend mini-skirt, cotton trousers, swimsuits, polyester knit shirts and trousers.

EU, Vietnam WTO entry pact result of hard work; observers

Wed, 10/13/2004 - 04:00

Vietnam and the European Union managed to reach an agreement paving the way for Vietnam’s entry to the WTO thanks to its negotiators’ hard work during five days of intense talks, said observers.

Negotiations between Vietnam and the European Union began Oct. 5 and were scheduled to wrap up late Oct. 8. From the first day, both sides’ negotiators spent days and nights at the headquarters of the Ministry of Trade in Hanoi hammering out a final agreement.

Vietnam, EU sign bilateral agreement after concluding WTO talks

Wed, 10/13/2004 - 03:55

Vietnam and the European Union signed a bilateral agreement on EU recognition of Vietnam’s entry into the World Trade Organization in Hanoi yesterday Oct. 9 after the 10th round of talks wrapped up.

Vietnamese Trade Minister Truong Dinh Tuyen and EU Trade Commissioner Pascal Lamy announced the success of the talks at a press conference held right after the four-day negotiation round in Vietnam’s capital concluded.

“The agreement will make Vietnam’s entry into the World Trade Organization easier,” said Mr. Lamy at the press conference.

Vietnam's top exporters to be promoted online

Wed, 10/13/2004 - 03:54

Both domestic and foreign national trading promotion agencies will start displaying information about reputable Vietnamese exporters on their websites, reported the Ministry of Trade.
The Ministry said it will select successful Vietnamese and foreign exporters to feature on its website and other trade related sites organized by the Vietnamese Chamber of Commerce and Industry, the Vietnam Trade Promotion Agency and the country's overseas trade offices.

1.3 million new jobs created by 2005, says MPI

Wed, 10/13/2004 - 03:52

Economists are looking for an increase of 1.3 million jobs and for the unemployment rate to hold at 5. 5 percent for 2004, the Hanoi Moi Daily reported Tuesday, quoting the Ministry of Planning and Investment.
Jobs have boomed with the economy churning out one million new jobs so far this year, 200,000 of which were created in September alone, according to the Vietnam News Agency.

Cargill to commission 3rd feed factory in Vietnam

Mon, 09/27/2004 - 16:58

US company Cargill Inc. will commission its third feed processing factory, capitalized at $US 12 million, in the northern province of Hung Yen on Sept. 29, said Cargill’s chief representative in Vietnam.
The factory will operate in Pho Noi A Industrial Park and is designed to turn out 200,000 tons of feed for cattle and poultry a year, said Truong Chanh, chief representative of Cargill in Vietnam. The factory aims to supply the northern market.

Law may open doors to foreign merchants

Mon, 09/27/2004 - 11:12

Friday, September 24, 2004, Vietnamese News

Hanoi - A draft law to throw open trading to foreign businesses has come up before the National Assembly Standing Committee for consideration. It is expected to go to the NA house for approval by year-end.

Hitherto, under the Trade Law enacted in 1997, foreign traders could open representative officers while trading was allowed only by Vietnamese businesses.

Though the current law also allows foreign traders to open branches in the country, it restricts the trading range of these branches.

VNPT to Be Divided into Two Corporations from Jan 2005

Thu, 09/23/2004 - 16:44

The Vietnam Post & Telecoms Corporation (VNPT) has said it is finalizing necessary procedures to split into two separate corporations from January 1, 2005, with one specializing in telecoms and the other in postal services.

The new corporations will be called the Vietnam Telecoms Corporation and the Vietnam Postal Corporation, which will be comprised of the Inter-provincial & International Postal Co., the Central Newspaper Publishing Co., the Postal Savings Co. and post offices at city and provincial level.

Vietnam to Achieve Strong Economic Growth in 2004-05: ADB

Thu, 09/23/2004 - 16:43

Vietnam looks set to achieve an economic growth of 7.5% in 2004 and 7.6% in 2005, compared with 7.1% last year, according to an Asian Development Bank (ADB) report "Asia Development Outlook 2004" released on September 22, on the back of strong domestic demand and robust industry sectors.

Accordingly, local demand in Vietnam will rise 8.7% this year and 8.1% in 2005 and export growth will be 16.3% and 12%, respectively.

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