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Vietnamese fleet vows to escape from the black list

The Vietnam Maritime Bureau (Vinamarine) has committed to put the Vietnamese fleet off the foreign ports’ lists of the ships which cannot meet the safety standards. However, experts have warned that this would be a very difficult task. Vietnamese ships prioritized to be examined at foreign ports According to Vinamarine, in the first six...

Posted date: Fri, 20 Jul 2012 - From: Business News

The US-China trade dispute and the opportunities and challenges for Vietnam

Will the US-China trade dispute, if it happens, bring the opportunities to Vietnam to penetrate the US market, or become a threat to Vietnam’s economic development? The US Department of Commerce has declared the new high tax rates on the solar cell imports from China. The decision, in the eyes of observers, would ignite a trade dispute...

Posted date: Thu, 19 Jul 2012 - From: Business News

Japanese technique barriers keep Vietnam’s shrimp away

A series of technical barriers have been installed by Japanese management agencies, which has given Vietnamese shrimp exporters a great deal of anxiety. The Trifluralin, Enrofloxacin and Ethoxiquin barriers Japan has been applying overly stringent measures to control antibiotic residues in the shrimp imports from Vietnam, the barrier that...

Posted date: Thu, 19 Jul 2012 - From: Business News

It’s the time of Vietnam dong

Vietnam dong has big advantages over other investment channels at this moment. Keeping dong is the top choice for Vietnamese people because this allows to preserve their assets. Investors believe that in the context of the bad performance of the world and national economies, the liquidity, not the expected profit, should be considered as the...

Posted date: Thu, 19 Jul 2012 - From: Business News

Chinese products dominating Vietnamese traditional craft villages (part 2)

Bat Trang pottery, Ha Dong silk craft villages have been flooded with Chinese goods. Meanwhile, the Dong Ho painting village not only has lost its traditional career, but lost its name as well. In fact, not only the merchants in Bat Trang craft village prefer trading Chinese products to Vietnamese. The merchants in Dong Xuan market, the biggest...

Posted date: Thu, 19 Jul 2012 - From: Business News

FIEs manage to fly above the storm as local firms struggle

High export earnings and strong financial capabilities have kept foreign-invested enterprises almost immune from severe impacts of an economic slowdown. The Ministry of Planning and Investment (MPI) reported the economy grew just 4.38 per cent on-year in 2012’s first half and started to show deflation signs with consumer price index...

Posted date: Thu, 19 Jul 2012 - From: Business News

Domestic businesses play dirty on each other, foreign fish in troubled water

While domestic businesses are busy with the plans to tarnish rivals’ reputation in unhealthy competitions, foreign businesses have the opportunities to dominate the market. A market survey conducted by Nielsen, a market survey firm, showed that in 2011, G7 coffee brand of Trung Nguyen Company held 38 percent of the instant coffee market,...

Posted date: Wed, 18 Jul 2012 - From: Business News

Big economic groups change CEO continuously

In late June and early July, a series of listed companies on the stock market--commercial banks and securities companies, continuously announced the appointment of their key executives and chairs of the board of directors. On July 9, the Vietnam Securities Depository Center received a dispatch from Bourbon Tay Ninh (SBT) which informed about...

Posted date: Wed, 18 Jul 2012 - From: Business News

State owned conglomerates unanimously cut workers’ wages

Fulfilling the commitments to cut down expenses in 2012 made to the Ministry of Finance, a lot of state owned general corporations have unanimously cut down their workers’ wages by 5-30 percent. The representatives of the Electricity of Vietnam (EVN) and the Vietnam Coal and Mineral Industries (Vinacomin) have confirmed that the new wage...

Posted date: Wed, 18 Jul 2012 - From: Business News

SOEs’ capital withdrawing: it’s easier said than done (part 1)

When the Vietnam Coal and Mineral Industries (Vinacomin) spent money to buy stakes of the Saigon-Hanoi Bank (SHB) and SHB Securities, or contributed capital to set up the insurance joint venture SHB-Vinacomin, it could not imagine that it would have to sell the stakes at a loss one day. State owned economic groups and general corporations...

Posted date: Tue, 17 Jul 2012 - From: Business News

Chinese products dominating Vietnamese traditional craft villages

Bat Trang pottery, Ha Dong silk craft villages have been flooded with Chinese goods. Meanwhile, the Dong Ho painting village not only has lost its traditional career, but lost its name as well. The banderole reminds local people of the pride of the career of making potteries descended by their ancestors to the next generations. A banderole...

Posted date: Tue, 17 Jul 2012 - From: Business News

The struggle around 70,000 tons of cheap sugar

Food processing companies have accused sugar companies to restrict sales to push the prices up, insisting the Ministry of Industry and Trade to grant quotas to import sugar. Meanwhile, sugar companies have affirmed that no need to import sugar, because the domestic output can satisfy the demand. According to the Vietnam Sugar and Sugar Cane...

Posted date: Mon, 16 Jul 2012 - From: Business News

Vietnam footwear wins Brazil dumping lawsuit

Vietnam has for the first time scored a victory against a lawsuit directed towards its global exports on the evasion of anti-dumping taxes, according to the Vietnam Competition Administration (VCA) under the Ministry of Industry and Trade. The winner this time is sports and casual shoes, with Brazil recently announcing that no Vietnamese...

Posted date: Mon, 16 Jul 2012 - From: Business News

Businesses spend money to be able to “die” the way they want

A lot of businesses stopped their operation, but they could not declare the bankruptcy because of the administrative procedures barriers. Spending money to be able to die Phuc is the owner of a limited company in Tan Phu district in HCM City which specializes in distributing construction materials. The difficulties have become unbearable...

Posted date: Mon, 16 Jul 2012 - From: Business News

Vietnam’s interest rates go their own way

The State Bank of Vietnam (SBV) policies on interest rates over the past 12 months have led to increased production costs. Deposit rates are limited while lending rates are self determined by commercial banks, says Vu Vinh Phu, Chairman of the Vietnam Supermarket Association. Banks enjoy advantages from current monetary policies With a 3-4...

Posted date: Mon, 16 Jul 2012 - From: Business News