Foreign companies allowed to purchase shares of joint stock banks

Mon, 03/22/2004 - 12:30


(03/22/2004 -- 17:09GMT+7)

Ha Noi, Mar. 22 (VNA) - Wholly foreign-invested companies operating in Viet Nam will be permitted to purchase shares of joint stock banks, said an official circular recently issued by the State Bank of Viet Nam.

The circular stated that foreign-invested businesses are able to buy and hold a maximum of 30 per cent of joint stock banks' statutory capital.

Govt must set aside more money to popularise VN’s image, policies

Thu, 03/11/2004 - 17:58



Phan Huu Thang, director of the Department of Foreign Investment at the Ministry of Planning and Investment, discussed investment promotion strategies with Quoc Te (International Affairs Review) newspaper.

Q: The promotion of investment does not seem to be as much of a priority as the promotion of trade. Why is that?

A: It’s true investment promotion has not been made a key national programme with the Government’s financial backing. However, investment promotion has always been considered an important initiative by both central and local governments.

State banks outline plans to go public

Fri, 02/06/2004 - 16:47



HCM CITY— State-owned commercial banks are preparing for equitisation as Viet Nam continues its move into the world economy.

According to Tran Bac Ha, the general director of the Bank for Investment and Development of Viet Nam (BIDV) his equitisation plan will be completed this year.

Insurance industry will wipe out unfair practices

Wed, 01/28/2004 - 17:15


Vietnam News, Wednesday January 28, 2004


HANOI -- Vietnam will stamp out unfair practices to ensure a level playing field for all insurance companies, a Government deputy minister has promised.

Deputy Minister of Finance Le Thi Bang Tam assured that insurance companies all have an equal right to exploit the market provided they offered good service.

In the event, Tam said, her ministry would crack down on insurers and others found taking recourse to these unhealthy practices to influence the market.

WTO ramifications

Foreign investors prick ears to Vietnam bourse

Fri, 01/02/2004 - 10:11

Vietnam Economic Times, Friday, January 02, 2004 22:00:55

The hive of activity among foreign investors on the HCM City securities trading floor has contributed to the recovery of the VN-Index, confirmed Vu Bang, Deputy Chairman of the State Securities Commission on December 26 in HCM City.

The number of foreign investors opening accounts for stock transaction in 2003 increased 36% compared to 2002, mostly through the Saigon Securities Company (SSI). They also now account for 27% of all trade value on the bourse.

Garment exporters should pay more attention to non-quota markets

Tue, 12/16/2003 - 17:39


(12/16/2003 -- 22:21GMT+7)

Ha Noi, Dec. 16 (VNA) - "Garment businesses should not stick to the US market only but many non-quota markets such as Japan, Canada and the Middle East," said Deputy Prime Minister Vu Khoan.

He was speaking at a conference entitled "Challenges and Solutions to the Garment Sector Beyond 2004" held by the Ministry of Trade (MOT) in Ha Noi on Tuesday.

Viet Nam sets itself to double agricultural output over next five

Tue, 12/16/2003 - 17:37


(12/16/2003 -- 16:51GMT+7)

Ha Noi, Dec. 16 (VNA)- Viet Nam plans to launch an initiative to increase the agricultural output value to 31 million VND per ha in the next five years. The current yield is only 17 million VND.

Each ha of agricultural land, therefore, will yield almost 20 million VND on average.

The drive will thus improve rural farmers' incomes, said the Agricultural Economics Institute.

Car makers cheer 2003, brace for 2004

Tue, 12/16/2003 - 17:13



by Phi Hung

Viet Nam’s 11 foreign-backed auto makers achieved a record 66 per cent sales growth in the first 11 months of the year, as customers rushed to snap up cars ahead of next year’s tax hikes.

The companies, also known as the Viet Nam Auto Makers Association (VAMA), reported nearly 35,000 sales in the January-November period.

But many dealers said they are now out of stock, creating a fever in one of the smallest car markets in the region.

Swiss firms eye catfish market

Tue, 12/16/2003 - 17:12


AN GIANG — Several large Swiss businesses that visited Viet Nam recently said they wanted to set up deals to buy Vietnamese catfish.

Six Swiss firms - Eurogroup, Co-op, Sippo, Binca, Seafood and Marioult - expressed interest in establishing trade ties and praised the farmers for their technological methods.

The An Giang Fisheries Import and Export Joint Stock Company (Agifish) in the Cuu Long River Delta provided the Swiss group with information on tra and ba sa fish and other aquatic products raised in the province.

Viet Nam to take trade restriction measures to defend itself

Thu, 12/11/2003 - 17:55

(12/11/2003 -- 17:49GMT+7)

Ha Noi, Dec. 11 (VNA)- Viet Nam reserves the right to increase import taxes, impose quotas, duties and other trade restriction measures "in order to defend itself", according to a recent Government decree.

Under the decree that provides guide lines to a state ordinance, seven measures will be taken for trade protection.

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