VietinBank to announce PG Bank merger plan soon
ietinBank Chairman Nguyen Van Thang revealed the bank’s intention to news website BizLive, adding that the merger will be the shortest way for the bank to increase charter capital and assets, and expand its networks. Thang said that the equity and asset scales of major banks in Viet Nam are much smaller than those of their […]
Minister says more efforts needed to enhance business environment
Authorities must make bigger strides this year in improving the country’s business environment, said Minister of Planning and Investment Bui Quang Vinh. The revised investment and enterprise laws passed by the National Assembly last year would stimulate new waves of investment, Vinh said in an interview with Tuoi tre (Youth) Newspaper on the occasion of […]
Government Puts Stop To Exports Of Coal Dust
As per a recent Government directive, Vietnam will stop exporting coal dust in 2015, in order to ensure the supply of coal for thermal power production for the 2018 to 2020 period. In keeping with the Government instruction, Deputy Prime Minister Hoang Trung Hai has asked the Ministry of Industry and Trade (MoIT), and […]
Government gives guidelines on Public-Private Partnership agreement
The government has issued a decree on investment in the form of public-private partnerships (PPPs), which sets out five conditions for a PPP project. Accordingly, in order to get approval, a PPP project should be relevant to the development master plans of the relevant sector and region and the socio-economic development plans of the area […]
Decree 222/2013/ND-CP of Cash Payments Officially Takes Effect
From March 01, 2014, Decree 222/ND-CP dated December 31, 2013 on cash payments and state management of the cash payments in a number of transactions in Vietnam territory officially takes effect, the State Bank of Vietnam (SBV) says. This Decree replaces Decree 161/ND-CP dated December 28, 2006 on cash payments. Accordingly, organizations using state funds […]
Gov’t bans transfer of 30 technologies
The Government has approved the Decree 120/2014/ND-CP which expands the list of technologies banned from transfer from abroad into Viet Nam. Accordingly the number of banned technologies will be increased to 30 from the current 16 (stipulated in the Decree 133/2008/ND-CP), applicable from February 1, 2015. The Government will also prolong the list of technologies […]
Property rule hurts firms, buyers
The new regulation making it mandatory for property developers to make deposits is hurting both enterprises and home-buyers, as it is expected to be eventually absorbed into the selling price. Le Hoang Chau, chairman of the HCM City Real Estate Association (HoREA), made the remark at a conference to review the real-estate market, which was […]
Customs dep’t offers preferential treatment
Customs and storage agencies will be allowed to give preference to qualified businesses in a move to encourage the businesses, according to a newly-issued Government decree. As per Decree 08/2015/ND-CP, which was released this week, goods from qualified businesses will be checked, delivered or handled earlier than others. In case the goods require special checking […]
Ha Noi to raise smuggling fines
Deputy Prime Minister Nguyen Xuan Phuc has approved Ha Noi’s proposal to increase administrative fines for smugglers and manufacturers of fake products. He asked the Ministry of Finance to study the proposal and provide funding and equipment to Ha Noi to implement the plan. The proposal was made at a meeting held on Wednesday to […]
Tighter Management over Inefficient Funds
Restructuring investment funds is one of the first successes contributing to Vietnam’s stock market restructuring. Until 2004, Vietnam’s stock market had no fund management company. But within two years from 2006 to 2007, the stock market developed, the system of business organisations, securities services has seen rapid growth in both the number and size of […]