New rule requires firms’ information disclosure in English
A market watchdog plans to direct public companies to disclose their information in both Vietnamese and English in a move to boost the Vietnamese securities market to the global level. However, this will prove to be a big challenge for most companies at present. Speaking at a workshop about the improvement of the legal framework […]
Power tariffs to rise 9.5 per cent
Electricity tariffs will be hiked up to 9.5 per cent in 2015, according to the Ministry of Industry and Trade. The ministry said it has received proposals for an adjustment in power tariffs from the ministries of Finance, Planning and Investment and the State Bank of Viet Nam. The ministries all strongly support the rise […]
Banking sector reform: M&A boom expected
With the Government’s determination to hasten the restructuring of the credit institution system, mergers and acquisitions (M&A) in the banking sector were projected to boom in the coming years. Deputy Governor of the State Bank of Viet Nam (SBV) Nguyen Thi Hong said at Monday’s talk with the Viet Nam Television’s BizLive that 2015 was […]
Vietcombank to merge with Saigonbank
Vietcombank is set to merge with Saigonbank as part of a general banking restructuring process, said Nguyen Van Binh, the Governor of the State Bank of Viet Nam (SBV). Making the announcement at a Vietcombank meeting in Ha Noi on January 16, Binh said SBV will be adopting drastic measures to boost bank mergers during […]
Ha Noi’s property market to rebound strongly in 2015
Experts at foreign property consulting firms expect the property market in Ha Noi to rebound strongly this year, owing to robust sales of apartments during the last quarter of 2014. The Savills Viet Nam Ltd Company pointed out that six new housing projects, with approximately 2,900 units, have been launched recently. This reflects the highest […]
Perfecting Legal System to Lure Japanese Investors
In the past three years, Japan’s foreign direct investment (FDI) into Vietnam has kept going up. In 2014, Japan invested in 298 projects in Vietnam worth of nearly US$1,210 million, according to the General Statistics Office. However, to remove barriers and create more favourable conditions for Japanese firms to do business in Vietnam, the business environment and […]
Thailand’s Power Buy acquires 49 per cent of Nguyen Kim
Thai Power Buy Company, a subsidiary of Robins Department Store, has just bought a 49 per cent stake in NKT New Solution and Technology Development Joint Stock Company (NKT), according to a report issued by Bualuang Stock Exchange on January 12. NKT currently owns all of Nguyen Kim Trading Joint Stock Company (Nguyen Kim JSC), […]
Vietnam retail market to fully open for foreign firms
The 2015 scheduled establishment of ASEAN Economic Community (AEC) together with the implementation of World Trade Organization (WTO) commitments and other bilateral and multilateral free trade agreements will completely help Vietnam’s retail market to go out the restriction, putting local businesses in a face to face competition to foreign giants. After eight years of a WTO […]
Car prices to drop next year on import tariff cuts
The Finance Ministry on Wednesday issued an order amending the vehicle import tariff, in keeping with Viet Nam’s commitment to the World Trade Organisation (WTO) on tax reduction. According to the ministry, the duty on passenger cars, including station wagons, sport cars and motor homes (self-propelled recreational vehicles which offer living accommodation), as well as […]
New legal framework needed to tackle NPLs
A resolution on bad debt would be the only way to resolve legal obstacles for buyers to purchase bad debts, especially foreign investors, Le Xuan Nghia, member of the National Financial and Monetary Policy Advisory Council, has said. Nghia was quoted as saying in the Dau Tu (Vietnam Investment Review) newspaper that the Viet Nam Asset Management […]