Vietnam Tests More Locally-made Light Planes

maybayluongdung_221.jpgTwo Vietnam-made amphibious light planes underwent successful test flights in South Vietnam on August 3-5.

The planes are the enhanced version of a light plane – actually Vietnam’s second locally-manufactured plane – which was tested last December, said the producers, technicians of the Vietnam Air Defense-Air Force.

Depository Will Ease Securities Deals

HA NOI — The State Securities Commission announced yesterday that it will soon open the Viet Nam Securities Depository (VSD) as part of the Government’s efforts to boost the country’s ailing stock market by facilitating transactions for investors, particularly those from abroad.

By using the depository services, overseas Vietnamese and foreign investors can place orders and purchase stocks, according to the State Securities Commission (SSC).

Garment and Textile Exports to the U.S. Reach 926 Million Dollars

Ha Noi (VNA) August 2 - Viet Nam exported 25 categories of garments and textiles with quota management to the US worth more than 926 million USD in the first seven months of this year.

Of this export value, 18 products having automatic visas contributed around 500 million USD.

The 338/339 category was the biggest hard currency earner with 379 million USD, followed by the 347/348 category at 247 million USD.

The seven-month export value reached around 1.3 billion USD including the value of non-quota items.

Study Worries U.S. Catfish Industry

A study that suggests Vietnamese basa catfish are tastier than US pond-raised catfish has caused a stir among American catfish farmers across the country’s Southeast region.

The study, made public by Mississippi State University researchers last week, has drawn sharp criticism from Mississippi-based Catfish Farmers of America, a group that pushed for tariffs on the Vietnamese basa.

Vietnam Lifts Quota Fees for Textile Exports to U.S.

Vietnam’s Finance Ministry has decided to abolish the fees local textile manufacturers have to pay to obtain quotas for exports to the US market.

The abolition should boost nearly 800 local textile producers exporting to the American market, helping producers cut business costs and ease difficulties in export to the US so far, according to the ministry.

Out of the country’s biggest textile markets, only the US still upholds the imposition of quota restrictions.

Textiles are Vietnam’s second largest export earner after crude oil.

State Bank of Vietnam Plans to Liberalize Financial Market

Viet Nam News, (25-07-2005)

HA NOI — The central bank is considering expanding the categories of securities tradable on the open market in order to develop the financial market, a senior bank official said.

State Bank of Viet Nam’s (SBV) deputy governor Nguyen Dong Tien also told a conference held last week to review five years of the open market operation that the SBV would also ask the government to issue more short-term treasury bills for the purpose of expanding securities.

Leading U.S. Entrepreneurs Show Interest in HCMC

A delegation of leading American businesses expressed their wishes to invest in Ho Chi Minh City during a survey trip to Vietnam July 22 to 24.

Representatives from American Dye Golf Corporation, Salim Group, Dallas Pension and Consult Fund all showed serious intentions in carrying out projects in the city, according to Chairman of the HCMC People’s Committee Le Thanh Hai.

U.S. Consortium Gets Nod for HCMC Waste-to-Energy Plant

The U.S. Entropic Consortium has been given approval to commercialize a 300 million-USD waste-to-energy facility in Ho Chi Minh City, the Business Wire reported Thursday.

The consortium concluded its final negotiations this week after a major presentation to government officials. The approval is subject to a final design, technology and administrative review by the HCMC Environmental Protection Agency.

Foreign Investors Target Vietnam Commercial Banks

Foreign investors are increasingly buying into Vietnam’s fast-expanding banking industry, creating favorable opportunities for local banks to boost their operations.

Overseas companies now see joint-stock commercial banks in Vietnam as an attractive investment option following the country’s rapid-growing financial market and the fact that banks are making huge profits.

At Least 200 Companies to List on Vietnam Bourse by 2010

The total number of companies listed on the HCMC Securities Trading Center, Vietnam’s first stock exchange will be minimum 200 by 2010, according to a Finance Ministry projection.

With the growing value of the stock exchange every year, forecasts predict the total number of listed companies will reach 200 by 2010 with an average capital sale of VND205 billion each, heard a seminar on the topic in Hanoi July 18.