Vietnam News Clips

Boeing Funds $1Mln for School Construction in Vietnam

US Boeing Aviation has donated $1 million to Ho Chi Minh City to build a primary school in the outlying district of Cu Chi.

The funding came after a consensus reached on January 28 between Paul Walters, the regional vice president of Boeing in the Southeast Asia, and the vice-chairman of Cu Chi people's committee Cao Thi Gai.

The school has a total area of 10,000 sq. m, including 5,000 sq.m of construction area.

Vietnam keen to develop long-term relations with the US

Radio Voice of Vietnam - February 1, 2005

Vietnam attaches importance to building long-term and stable relations with the US on the basis of mutual respect for national independence, sovereignty, territorial integrity, non-interference in each other's internal affairs, and the equality and interests of each nation.

Deputy Prime Minister Nguyen Tan Dzung made the statement while receiving the new US Ambassador to Vietnam, Michael W.Marine, in Hanoi on Monday.

US, VN begin to hit trade stride

HA NOI — Viet Nam-US trade normalisation was the principal economic step that not only opened up business opportunities for both nations but that also, despite some remaining frictions, consummated both nations’ post-war reconciliation, said a former official of the US Trade Representative’s office.

Vietnamese community in US instrumental to VN- US relationship

Mon, 01/10/2005 - 23:04

The Vietnamese community in America is a vital bridge between Vietnam and the United States, asserted Ambassador Ton Nu Thi Ninh in an interview with Thanh Nien newspaper about her recent trip to the U.S.

Q: What was special about your latest diplomatic mission to the United States?

A: This trip was quite different from others because I visited 8 states and 12 cities across the United States. Also, I held extensive meetings with people at universities, research institutes, foundations, and the US media rather than just high-ranking U.S. officials and politicians.

Vietnam to open second stock market in January

Thu, 12/30/2004 - 11:18

Vietnam plans to open its second stock market next month to speed up the equitization of state-owned businesses, said a government official Tuesday Dec. 28.
The bourse in Hanoi is also part of Vietnam's drive to boost the capital market as the country's first exchange, set up in 2000, has just 26 stocks valued at 245 million USD, far smaller than the bourses in Thailand and Malaysia.

Vietnam’s 10 landmark economic events of 2004

Thu, 12/30/2004 - 11:17

As the year 2004 comes to an end, Thanh Nien newspaper has selected the ten most important events of the year that had the strongest impact on Vietnam’s economy.
This year saw many ups and downs in Vietnam’s economic development, but in general the country’s economy became more integrated into the global economy and its stature grew, according to economists.

Vietnam’s economic growth in 2004 was 7.7 percent, the second-fastest growing economy in Southeast Asia.

Here are the top ten events:

Foreign investment breaks record

FDI inflows to Ho Chi Minh City up 31%

Tue, 12/28/2004 - 17:57

(SGT-HCMC) HCMC has attracted over US$755 million in foreign direct investment (FDI) this year, or US$55 million higher than the target.

This pledged capital shows an increase of US$275 million over last year’s result, or an increase of 31%, according to the city’s Service of Planning and Investment. This is the first time in three years the city beats its FDI target.

The city has licensed 234 foreign-invested enterprises (FIEs) this year with combined capital of US$430 million. In addition, 140 FIEs have added a total of over US$324 million to their investment capital.

Overseas Vietnamese propose expatriate joint-stock bank

Tue, 12/28/2004 - 17:53

Vietnamese living in the U.S. have asked the Vietnam government to set up a commercial joint-stock bank with the shareholders being expatriate Vietnamese from all over the world.

Overseas Vietnamese have submitted the proposal to the State Bank of Vietnam for consideration, according to the Vietnam Committee for Overseas Vietnamese (COV.)

Capital for the bank raised by expatriates could reach $US 200 million, estimated some overseas Vietnamese businesses.

Vietnamese and American artists to perform ballet in Hanoi

Hanoi audiences will have chance to witness Vietnamese and American artists performing together in a contemporary ballet in Hanoi from December 29 to January 6, said organizers.

Twelve Vietnamese dancers directed by choreographer Le Vu Long and six American dancers directed by choreographer Maura Donohue will perform at different venues around Hanoi, including the Vietnamese School of Ballet, Anh Khanh Studios and the Goethe Institute.

Unlimited foreign share-holding in local companies suggested

Vietnam may lift the restriction in the volumes of shares that foreign investors are allowed to hold in Vietnamese joint-stock companies, said the Ministry of Finance Monday.
In a news conference Dec. 27 to introduce a decree on the equitization of state-owned enterprises, Ms. Le Thi Bang Tam, Deputy Finance Minister said the ministry is suggesting that no limits are set on foreign entrepreneurs’ right to buy shares.

So far, Vietnamese law permits a foreign investor to hold only a maximum of 30 per cent of shares in a Vietnamese company.

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