Viet Nam touts energy potential

Thu, 03/17/2005 - 17:50

 HA NOI — Ministry of Industry (MoI) officials were busy promoting Viet Nam to foreign investors as a possible destination to invest in energy projects at a forum held on Tuesday.

Deputy Industry Minister Do Huu Hao, said that Viet Nam boasts primary energy reserves including 3.88 billion tonnes of coal, 2.3 billion tonnes of oil, and 1,300 billion cu.m of gas.

The Deputy Minister however stressed that the country will face a shortage of energy in the near future due to the increasing demands of the national economy.

US Veteran Fund leader: Vietnam’s religious practices “very open”

Thu, 03/17/2005 - 17:43

An American Veteran who has lived in Vietnam for nearly 10 years said that he saw no problem with the tolerance for religious practices in the country, in a recent interview.

"Religious practices in Vietnam are very open and are thriving", stressed Chuck Searcy, Vice President of Vietnam Veterans Memorial Fund (VVMF).

Banks change lane, SMEs grow

Mon, 03/14/2005 - 17:42

HCM CITY — Creditors are taking on more small – and medium-sized enterprises (SMEs), although they still leave many in the cold.

In 2004 the number of local loans to SMEs increased significantly. Many banks granted SMEs loans as big as those to major State-run enterprises.

Nguyen Trong Thanh, Sai Gon branch director of the Bank for Investment and Development of Viet Nam (BIDV), said his bank has given many loans to help SMEs relocate at the city’s request, and many others towards development.

MOFA Spokesman's Answer on Dismissal of Agent Orange Lawsuit

Answer ny Spokesman of the Ministry of Foreign Affairs of Vietnam Le Dzung

March 11, 2005

Question: Please advise Vietnam's comment on the decision by the Judge of the US Federal Court in Brooklyn to dismiss the lawsuit filed by Vietnamese Agent Orange victims?

Answer:

Vietnam to relax foreign investor restrictions

Thu, 03/10/2005 - 11:28

The limit on share volume that foreign investors can hold in Vietnamese joint-stock company will be eased by opening new areas of investment, said the Ministry of Planning and Investment this week.
In the near future, share-holder limitation would continue to be controlled in areas such as finance, banking and telecommunications, according to the ministry.

Currently, the government only permits foreign investors to hold a maximum of 30 percent of shares in a domestic joint-stock enterprise.

Hard to find a corner office in HN

Thu, 03/10/2005 - 11:12

Viet Nam News, March 09, 2005

HA NOI — Finding a high-class office for lease is becoming increasingly harder for business owners in the capital due to the full occupancy of most high-rise buildings.

With the increase in demand for office space, high rise owners expect that Ha Noi will run out of office space by June this year.

Ha Noi stock exchange opens

Thu, 03/10/2005 - 11:10

Viet Nam News, March 09, 2005

HA NOI — The Hanoi Securities Trading Center (HASTC), Viet Nam’s second stock exchange, opened yesterday in an event that leaders hope will help Viet Nam’s transition into a market economy.

At the opening ceremony, Deputy Prime Minister Nguyen Tan Dung said the market would be critical to helping the country’s transition and its equitisation of State-owned enterprises (SOEs).

PM to fund trade promotion projects

Thu, 03/10/2005 - 11:08

HA NOI — Prime Minister Phan Van Khai has approved a list of 169 trade promotion projects to receive Government funds this year. The funding will be worth roughly VND600 billion (US$38 million), the Ministry of Trade announced yesterday at a press conference.

"The number of approved projects this year is roughly 20 more than last year because trade promotion is now considered a key factor to helping the country meet its annual export target of $31.5 billion, or 19 per cent more than last year," said Trade Deputy Minister Luong Van Tu.

APEC report praises Vietnam trade liberalization

Thu, 03/10/2005 - 11:04

Vietnam has made significant progress in trade and investment liberalization, the Asia-Pacific Economic Co-operation, or APEC, said in a report at an Asian-Pacific states meeting Mar. 9.
Hanoi has taken effective steps forward in carrying out tax reforms and removing trade barriers and its controlling administrative system, said the report, which gave APEC assessment over Vietnam’s annual Individual Action Plan (IAP).

Vietnam continues WTO talks with U.S., Japan

Thu, 03/10/2005 - 10:51

This month, Vietnam will continue its talks with the U.S. and Japan on entering the World Trade Organization (WTO) in a bid to become a WTO member by its target date of late 2005.
Vietnam and the U.S. will proceed with negotiations about the former’s WTO entry efforts in Washington D.C. March 14 to 16, according to Vietnam Ministry of Trade.

High on the agenda will likely be Vietnam’s taxation system and its opening up of markets in the telecommunications, banking and financial service sectors. The U.S. had demanded Vietnam clarify some issues by the end of February.

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