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[2012-02-14] Finance costs gobble up businesses’ profits
Finance costs gobble up businesses’ profits
February, 14 2012
VietNamNet Bridge – The majority of businesses have reported losses because of the overly high finance costs in 2011.
VSP, a shipping and real estate firm, has reported the loss of 523,7 billion dong for 2011, blaming on the overly high finance cost of 311.3 billion dong, which was double that of the year before. VSP is a typical example of the failure in doing business of shipping companies in the last four years. The... |
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[2012-02-13] Breakfast @ Tuoitrenews – Feb. 13
Breakfast @ Tuoitrenews – Feb. 13
February, 13 2012
Tuoitrenews briefs some of salient news published today, Feb. 13, on Vietnamese media:
Politics:
-- President Truong Tan Sang left Pakse International Airport in Champasack province on February 11, concluding his three-day official visit to Laos with an agreement that both sides will work to step up bilateral ties in all fields.
-- A senior delegation from the Vietnamese Government, headed up by Deputy Prime Minister Vu V... |
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[2012-02-13] High tax may lead to plastic-bag imports
High tax may lead to plastic-bag imports
February, 13 2012
The high tax rate of VND40,000 (US$1.9)per kg on plastic bags has prompted companies to think of importing bags from other Asean countries such as Indonesia and Thailand to save on production costs. At a meeting held yesterday by the Viet Nam Plastics Association in HCM City, plastic bag manufacturers raised their concerns about provisions in the Environmental Tax Law, which became effective on January 1. Under the law, plastic ba... |
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[2012-02-11] 2.67 billion dollars and the time of M&A
2.67 billion dollars and the time of M&A
February, 11 2012
2011 was the bustling year of merger and acquisition (M&A) deals with the total value of the successful deals reaching 2.67 billion dollars, or 50 percent higher than that of 2010.
Most of the successful M&A deals were the ones with the involvement of foreign investors, with the cash flow mostly coming from Japan. Consumer goods, finance and real estate were the business fields which witnessed the M&A deals with the hi... |
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[2012-02-10] Government urged to take actions to stop the FDI decline
Government urged to take actions to stop the FDI decline
February, 10 2012
VietNamNet Bridge – The unsatisfactory result of foreign direct investment (FDI) in the first quarter of 2011 is not enough to prove that the FDI is in the decline in Vietnam. However, this should be seen as an early warning about the urgency of the new measures to more effectively attract FDI in 2012.
Phan Huu Thang, former Head of the Foreign Investment Agency (FIA) of the Ministry of Planning and Investment (M... |
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[2012-02-10] BUSINESS IN BRIEF 10/2
BUSINESS IN BRIEF 10/2
February, 10 2012
Forestry, fishery exports to hit $40b by 2020 The country's agricultural sector will export US$40 billion worth of agro-forestry and fisheries products by 2020 under a masterplan approved by Prime Minister Nguyen Tan Dung last week. Of this $40 billion, farm produce will account for $22 billion, fisheries products for $11 billion, and forestry products the remaining $7 billion. The plan envisages an annual growth of 3.4 to 4 per cent for th... |
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[2012-02-09] Breakfast @ Tuoitrenews – Feb. 9
Breakfast @ Tuoitrenews – Feb. 9
February, 09 2012
Politics
-- Vietnam always treasures the friendly neighbouring relations with other ASEAN countries, including Brunei, Vietnamese Foreign Minister Pham Binh Minh said Tuesday during a meeting with Sultan of Brunei Haji Hassanal Bolkiah in the small sovereign state.
-- Vietnamese leaders should look boldly at the demerits and shortcomings of the Communist Party in order to fix them and then strengthen it, Tran Trong Tan, former chie... |
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[2012-02-09] Firms to benefit from new rules on open-end funds
Firms to benefit from new rules on open-end funds
February, 09 2012
This year will be significant for fund management companies as they prepare to apply a new cycle of regulations on open-end funds, says VietFund Management Co general director Tran Thanh Tan. An open-end fund is a collective investment scheme which can issue and redeem shares at any time. An investor generally purchases shares directly from the fund itself rather than from other shareholders, in contrast with a closed-end... |
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[2012-02-08] Breakfast @ Tuoitrenews – Feb. 8
Breakfast @ Tuoitrenews – Feb. 8
Thứ tư, 08/02/2012
Politics
-- The Vietnamese legislature supports the cooperation between the State Audit Offices of Vietnam and Myanmar, National Assembly Chairman Nguyen Sinh Hung said Tuesday at a reception for General Auditor Lunn Maung in Hanoi.
-- The Vietnamese Embassy in Sri Lanka is attending the 6th National Development Exhibition which will last until February 10 in Anuradhapura City. This part of the South Asian country’s ac... |
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[2012-02-08] BUSINESS IN BRIEF 8/2
BUSINESS IN BRIEF 8/2
February, 08 2012
Vicofa to collect coffee export fees The Viet Nam Coffee Industry Export Insurance Fund Management Council under the Viet Nam Coffee and Cocoa Association (Vicofa) has come to an agreement for collecting exported coffee fees of US$2 per tonne, to be effective on October 1, 2012. Proceeds gathered will be invested into the industry according to a proportional distribution agreement, with 50 per cent given for replanting, 30 per cent for temporary re... |
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[2012-02-06] Massive losses cost EVN chairman his seat
Massive losses cost EVN chairman his seat
February, 06/02/2012
The Prime Minister has dismissed Dao Van Hung, chairman of the Electricity Group of Vietnam (EVN), which has been making losses while under his control, with the loss-stricken EVN Telecom the most infamous example.
Besides EVN Telecom, which was forced to accept acquisition by the military-run Viettel Group to avoid insolvency, EVN also incurred enormous losses from other investments in non-core businesses, said Vu Duc Dam,... |
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[2012-02-06] Good news comes at the beginning of the year of Dragon
Good news comes at the beginning of the year of Dragon
February, 06 2012
VietNamNet Bridge – A lot of businesses have opened new shops or held ground breaking ceremonies to kick start new projects, hoping to obtain big achievements in the year of Dragon. Meanwhile, multi-billion dollar foreign invested projects have become the first New Year’s callers.
A representative of Dong Duong Steel said the company has taken the first orders right after the Tet holiday from some strategic c... |
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[2012-02-06] Bond market stands at the crossroads
Bond market stands at the crossroads
February, 06 2012
Vietnam’s bond market could see a big shake up this year thanks to the maturing of a huge volume of paper and a regulator-driven project to restructure the market.
But , industry experts are undecided on the implications. Here we get the lowdown from the insiders.
A difficult economic situation still means opportunitiesTrinh Hoai Giang - Vice chairman for Vietnam Bond Market Association (VBMA) Economic woes in 2012 actually come... |
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[2012-02-02] Will stocks, gold remain attractive to investors?
Will stocks, gold remain attractive to investors?
February, 02 2012
As the stock and gold markets started the Lunar New Year with several upheavals, Tuoi Tre spoke with two experts on whether these two channels are still appealing enough to attract investors this year. Dinh Nho Bang, general secretary and deputy chairman of the Vietnam Gold Trading Association, told Tuoi Tre that the gold market this year will remain in its heating state as it did last year, with domestic gold expected to fl... |
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[2012-02-02] Gold market in 2012: high risks awaiting
Gold market in 2012: high risks awaiting
February, 02 2012
VietNamNet Bridge – With the State Bank’s tentative policies on the gold market management, gold would become an investment channel with high risks, at least in the next two coming years.
Vietnamese gold investors would feel unsatisfactory when hearing about the supposition that gold would not be an attractive investment channel in the future. They may quote figures to show that gold investments brought a high profit of 30... |
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