Vietcombank Seals Vietnam's 1st Rate Swap Contract

Tue, 08/09/2005 - 12:43

State-run Bank for Foreign Trade of Vietnam (Vietcombank) said on Tuesday it has become the country's first bank to secure an interest rate swap agreement with a foreign bank.

The unlisted bank signed the contract with the undisclosed foreign bank on July 25 to swap interest rates and two transactions have been conducted so far for a combined value of nearly $30 million, a Vietcombank official told Reuters.

Vietnam Tests More Locally-made Light Planes

Tue, 08/09/2005 - 12:41

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

Thu, 08/04/2005 - 17:26

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).

Vietnam Attends Pacific Army Chiefs Conference

Wed, 08/03/2005 - 15:41

A Vietnamese military delegation is attending the fourth Pacific Army Chiefs Conference (PACC IV) held in Bangkok, Thailand, from August 1-4.

During the conference themed "Impacts of Transformation on the Asia-Pacific Security Environment", participants have taken part in bilateral and multilateral discussions.

They have also exchanged views on the scope of transformation as well as its impacts on security of the Asia-Pacific region.

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

Tue, 08/02/2005 - 11:06

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.

Chairman: Party, State Policies Ensure Basic Needs of Religious Organizations and People

Tue, 08/02/2005 - 11:04

Ha Noi (VNA) August 2 - The implementation of the Party's resolutions on religious issues and the Ordinance on Religions and Beliefs has met the basic needs of religious organizations and people, said Ngo Yen Thi, Chairman of the Government Committee for Religious Affairs.

Vietnam Religious Ordinance Promulgated

Tue, 08/02/2005 - 10:20

Ho Chi Minh City, 29 July: According to Catholic priest Vu Quang Trung of Jesus Christ from the Hien Linh Monastery, the Government Ordinance on Religions and Belief and its guidance decree have helped usher in a new chapter for spiritual activities of religious people. The promulgation of the mandate clearly reflects the state respect for people's religious and belief freedom, and their spiritual needs and activities, the priest added.

Study Worries U.S. Catfish Industry

Tue, 07/26/2005 - 13:19

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.

Tue, 07/26/2005 - 13:07

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

Tue, 07/26/2005 - 12:59

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.

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