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

Mon, 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

Mon, 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

Mon, 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

Mon, 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

Mon, 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.

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.

Viet Nam thanks World Bank for help, vows to push reforms

Mon, 03/22/2004 - 12:21



HA NOI — Deputy Prime Minister Nguyen Tan Dung has told the deputy chairman of the World Bank, Jemal-Ul-Din Kassum, that Viet Nam is grateful for the bank’s assistance in recent years.

Dung welcomed Kassum’s visit to Viet Nam, where he attended an anti-corruption seminar.

The deputy prime minister told Kassum that Viet Nam will follow four policies as it attempts to become an industrial country by 2020 and double its gross domestic product by 2010.

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.

Ordnance kills 1, injures 3 in Vinh Long

Thu, 03/11/2004 - 17:55



VINH LONG — One person was killed and three others injured when American War ordnance exploded in the southern Vinh Long Province’s Cai Von town on Sunday.

Iron dealer Dang Van Sang, 40, was killed while he was trying to open the warhead. The explosion also injured his brother in the right arm and left leg, and two others in their eyes. VNS

USD 89 million to safeguard culture of Central Highlands

Thu, 03/11/2004 - 17:53


The rich culture of the 40 ethnic minority groups living in the Tay Nguyen (Central Highlands) will be preserved through a new Government programme.

"The mystery and beauty of the region is a consistent attraction for numerous tourists. Visitors to Tay Nguyen are captivated by the traditional songs, dances, costumes and colourful festivals," said Pham Quang Nghi, minister of Culture and Information.

Pages