Door opens to foreign investment

Thu, 03/13/2003 - 09:58



HA NOI (March 13, 2003) — Prime Minister Phan Van Khai has endorsed a landmark decision allowing foreign investors to acquire up to a 30 per cent stake in Vietnamese companies in the public sector.

Prime Ministerial Decision 36/2003, issued on Tuesday, states the move is aimed at encouraging foreign investment in State enterprises which need foreign expertise and management methods as well as foreign technology and capital in order to gain influence and competitiveness.

Govt sees bright year for rural trade

Tue, 03/11/2003 - 13:53

Ha Noi (March 11, 2003) — No stone will be left unturned to boost retail trade and services while there will be a strong new focus on rural markets in 2003, according to a Ministry of Trade report.

Identifying a growth target of 13 per cent for retail trade and services and 5 per cent for the consumption index, the ministry seeks the fulfilment of domestic demand for both raw materials and manufactured goods. It also hopes to assist farmers in selling all their produce.

Trade Ministry clears way for level commercial playing field

Thu, 03/06/2003 - 17:05


HA NOI — March 6, 2003

The Ministry of Trade is honing a competition law which it describes as a "double-edged knife", designed to prevent both experienced foreign companies and privileged Vietnamese firms from using unfair practice to dominate the domestic market as the country opens up to regional trade.

The trade ministry discussed the drafting process and some of the difficulties involved at a seminar in Ha Noi a fortnight ago, where it also sought more expert recommendations on the law.

RoK Trade Committee recognizes Viet Nam as market driven economy

Thu, 03/06/2003 - 16:55


Ha Noi, Mar. 6 (VNA) - The Ministry of Trade (MoT) has welcomed the (Republic of) Korea Trade Committee's decision to recognise Viet Nam as a market driven economy.

Thanks to that decision which was made by the Korea Trade Committee (KTC) in relation to Viet Nam's export of gas lighters to the RoK, establishment of the production cost and the selling price of Vietnamese businesses' products will be considered case by case.

Businesses in the RoK recently filed a law suit against Vietnamese gas lighter producers, accusing the latter of price dumping.

Deputy PM on VN's renewal policy at Asia Society conference

Thu, 03/06/2003 - 16:52



Ha Noi, Mar. 6 (VNA) - Deputy Prime Minister Vu Khoan highlighted Viet Nam's renewal policy which, he said, is based on three buttresses: first, to develop a multi-sectoral economy; second, to utilise the mechanism of the market economy; and third, to integrate into regional and international economies.

Khoan was speaking at the current 13th Asian Corporate Conference in Ha Noi on Thursday.

He explained the first buttress, saying our phylosophy is that the resources of the whole society are the motive force for development.

New farm fund to help reforms

Tue, 03/04/2003 - 16:37



HA NOI (March 4, 2003)— Agriculture and Rural Development Minister Le Huy Ngo has announced that a new agricultural restructuring fund has been established to maintain the momentum of the rural reforms of the past three years.

"We will try to build up the fund this year," Ngo told the mass media in Ha Noi last week.

He said that it would focus primarily on improving the irrigation network, plant and animal breeds and processing technology.

Seafood exporters have backs to wall

Tue, 03/04/2003 - 16:35

HCM CITY (March 4, 2003) — Viet Nam’s fisheries industry faces a serious challenge to meet its annual export target, according to Deputy Minister of Fisheries Nguyen Viet Thang.

The sector will have to deal with problems posed by changing markets and new technologies to achieve the target, which has been set at US$2.3 billion.

Ha Noi's economic zones attract nearly 10,000 workers

Tue, 03/04/2003 - 16:32



Ha Noi, Mar. 4 (VNA) - Industrial and Export Processing Zones in Ha Noi have to-date recruited nearly 10,000 workers, accounting for 7 percent of the municipal industrial production sector;s workforce.

Working regulations for 16 enterprises have been approved and those for eight others are to be passed.

Ha Noi will strive to reduce its unemployment rate to 5.5 percent by 2005 from the current rate of 7.39 percent, according to Ms. Do Xuan Phuong, Deputy Director of the municipal Department of Labour, War Invalids and Social Affairs.

Enterprises commit to buying clean shrimp for processing

Thu, 02/27/2003 - 16:32

Ha Noi, Feb. 27 (VNA) - Forty enterprises, being members of the Viet Nam Association of Seafood Exporters and Producers (VASEP), have committed to buying clean aquatic produce including shrimp for processing. It is one of the moves to maintain a strong foothold of Vietnamese seafood in the market.

Viet Nam exported 2.4 million tonnes of seafood last year, earning more than 2 billion USD.

One hundred Vietnamese enterprises are qualified for exporting seafood into the European Union market.

MPI calls for looser foreign investment rules

Thu, 02/20/2003 - 10:00

(20/Feb/2003)


The Ministry of Planning and Investment (MPI) has called for sweeping changes that would allow 100% foreign investment in several sectors for the first time.

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