Economic news

Workers at the Vicem Ha Tien cement factory in the southern province of Binh Phuoc A province in southern Vietnam plans to allow a local cement factory to pay part of its tax dues in cement instead of cash. Experts have different opinions on the issue. Some laud it as a mutual-help initiative that should be encouraged, but others feel it would not be fair to other firms. Binh Phuoc…

Vietnam tech exports overtaking garments eases trade gap    Samsung smartphones are displayed during a launch event in Seoul, South Korea. The company plans to invest US$700 million in a new mobile-phone plant in northern Vietnam. Vietnam’s cost advantage has drawn investments from US and South Korean technology companies, whose exports have overtaken garments and provided a bright spot for a government struggling to revive economic growth. Intel Corp., Samsung Electronics…

An Indian businessman introduces products to Vietnamese partners on the sidelines of the seminar in HCMC on Wednesday - Photo: Thu Nguyet HCMC – Vietnam’s exports to India have kept rising since the ASEAN-India Free Trade Agreement (FTA) came into forces in 2010, which is greatly attributed to foreign-invested enterprises (FIEs). Vietnam exported US$992 million worth of products to India in 2010, doubling the figure in 2009, and US$1.55 billion…

Maintaining peace, strengthening Asia - Europe co-operation and connectivity       Nhan Dan – The Vietnamese delegation, led by Prime Minister Dung and his wife, arrived in Vientiane, Laos to attend the 9th Asia – Europe Meeting (ASEM 9) Summit under the theme of “Friends for Peace, Partners for Prosperity,” at the invitation of the Lao Prime Minister, Thongsing Thammavong. The biannual event is being held in Laos for the first time,…

HAGL boss earns most money on the stock market 2012 VietNamNet Bridge - The last trading session of 2012 will take place in the next two months but the current statistics are enough to show that Chairman of Hoang Anh Gia Lai Group (HAGL), Mr. Doan Nguyen Duc, will likely be the one whose assets increase at the highest level on the stock market in 2012, with more than VND1…

BUSINESS IN BRIEF 4/11 Exports to India surge thanks to FIEs Vietnam’s exports to India have kept rising since the ASEAN-India Free Trade Agreement (FTA) came into forces in 2010, which is greatly attributed to foreign-invested enterprises (FIEs). Vietnam exported US$992 million worth of products to India in 2010, doubling the figure in 2009, and US$1.55 billion in 2011, up 56.5% year-on-year. In the first nine months of 2012, exports…

Plan to update island infrastructure VietNamNet Bridge –A governmental working team has proposed new policies that would help Phu Quoc Island attract much-needed capital to build infrastructure. A plane is unloaded on Phu Quoc Island. Building infrastructure, including an airport and roads, is necessary for the island to cope with increased tourism. Under the proposal, the island, which is administratively part of the southern province of Kien Giang, could be…

In attracting FDI, Vietnam would refuse tiny projects VietNamNet Bridge – In an effort to tighten its control over the foreign direct investment (FDI), Vietnam is considering revoking the investment licenses from the unimplemented projects. It would also say “no” to the projects with too small registered investment capital.   Vietnam to re-organize FDI management The local authorities, when checking the FDI projects, have found a lot of problems with “tiny”…