Vietnam committed to boosting foreign bank branches' operation

T4, 03/31/2004 - 11:55


Vietnam New Agency - March 31, 2004

Ha Noi, Mar. 31 (VNA) - The State Bank of Viet Nam (SBV) recent decision to allow foreign bank branches and joint venture banks to freely open accounts at overseas banks aims to boost their operation in Viet Nam, said an SBV official.

Kieu Huu Dung, Acting Director of the SBV's Department for Banks and Non-bank Credit Organisations, said the move was part of the bank's on-going efforts to create a level playing field for all financial institutions in Viet Nam.

Improve foreign investment policies: deputy PM

T3, 03/30/2004 - 12:15



HA NOI — Deputy Prime Minister Vu Khoan told ministries and regions to improve the country’s foreign investment environment or risk falling behind the rest of Asia.

Addressing a conference on Monday, Khoan said to reach Viet Nam’s target of 8 per cent GDP this year, the country needed more foreign direct investment (FDI).

"At present, Viet Nam’s investment environment and policies are much better than they were in the 1990s," said Khoan.

Bird flu is over across Viet Nam

T3, 03/30/2004 - 10:30


(03/30/2004 -- 21:11GMT+7)

Ha Noi, March 30 (VNA)- From March 30, bird flu was over across Viet Nam, thus bringing to normal all operations regarding to poultry raising, transportation, processing and circulation, announced Minister of Agriculture and Rural Development (MARD) Le Huy Ngo on Tuesday.

The Minister told reporters that it was a big success for Viet Nam and that the country, however, will not neglect the preventive work in the future, considering it a big task to protect the country from the relapse of the epidemic.

Foreign investments in Viet Nam reach $714 million in 1st quarter

T3, 03/30/2004 - 09:23


(03/30/2004 -- 19:14GMT+7)

Ha Noi, March 30 (VNA)- Viet Nam granted licenses to 120 foreign-invested projects with a combined registered investment of 420 million USD in the first three months of the year, said the Ministry of Planning and Investment.

The number of projects decreased 37 percent year on year, but the amount of investments rose by 11 percent, the MPI added.

Politburo resolution reaffirms overseas Vietnamese’s role

T2, 03/29/2004 - 13:23



The Politburo of the Communist Party of Vietnam Central Committee has released a resolution, saying the overseas Vietnamese communities abroad are inseparable from the Vietnamese nation, and that Vietnam will do its utmost to develop the great national unity.

Vietnam to remove stock market's 30% foreign investor limit

T2, 03/29/2004 - 13:14



The Associated Press

Vietnam will lift a cap on the amount of stock foreigners can own in listed companies in an attempt to attract more investment from abroad, a government official said Monday.

Last July, Vietnam allowed foreign investors to own a maximum of 30 percent of companies listed on the market, up from the 20 percent limit that had been in place since the country's stock exchange was launched in July 2000.

MPI proposes measures to attract foreign investment

T2, 03/29/2004 - 13:09

Radio Voice of Vietnam

The Ministry of Planning and Investment (MPI) has proposed a score of measures to further attract foreign direct investment (FDI) and improve the investment environment at a conference in Hanoi on Monday.

According to a report delivered by Deputy Minister of Planning and Investment Nguyen Bich Dat, by 2003, Vietnam had licensed more than 5,400 FDI projects, of which 4,376 are currently operational, totalling US$41 billion. Industrial parks and export processing zones attracted about 1,400 FDI projects, capitalised at US$11.15 billion.

A project to popularise IT in Viet Nam

T2, 03/29/2004 - 13:06


(03/29/2004 -- 16:58GMT+7)

Ha Noi, Mar. 29 (VNA) - Viet Nam's government has okayed a project worth one billion USD to purchase computers and train their users across the country.

The project aims to popularise information technology (IT) for about 20 million of citizens, mostly young people for the current process of national modernisation and industrialsation.

In a meeting held last week, Prime Minister Phan Van Khai said he agreed in principle to assign Ho Chi Minh Communist Youth Union to carry out the project.

Govt to revise intellectual property laws

T2, 03/29/2004 - 12:50

March 26, 2004

HA NOI — A new law that would streamline earlier intellectual property legislation is in the works, said Tran Viet Hung, deputy head of the National Office of Intellectual Property.

Viet Nam’s intellectual property regulations are adequate and nearly meet the requirements of the World Trade Organisation.

Foreign investors suggest HCM City focus on policy consistency

T2, 03/22/2004 - 12:32


(03/22/2004 -- 16:58GMT+7)

HCM City, Mar. 22 (VNA)- Tax rates, capital market development and investment licensing were major concerns of foreign investors who requested Ho Chi Minh City authorities to focus on consistency and transparency in policy making at a meeting last week.

“Foreign investors need clear tax laws and regulations with minimal changes and consistent enforcement”, Richard Irwin of Pricewaterhouse Coopers said at the meeting, the second since October 2002 which was part of the city’s initiatives to attract foreign investment.

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