VNBusinessNews – An exciting and interesting new festival will be held on February 28th in Ho Chi Minh City by the Coca-Cola Company to introduce its new, special factory named “the Happiness Factory”. According to officials, the festival to inaugurate the “Happiness Factory” will be special as it will provide several entertaining performances that help [...]

VNBusinessNews – The widening gap in the forex rate between commercial banks and the unofficial market has drained U.S. dollars from the lenders, prompting a shortage of the greenback to make loans for exporters, bankers said on Thursday. An executive of BIDV’s transaction office in HCMC told the Daily how his bank could not satisfy [...]

VNBusinessNews – Viet Nam Development Bank, or VDB, has said it will guarantee loans for enterprises borrowing capital from commercial banks who had signed an agreement with VDB on this issue. Nguyen Quang Dung, general director of the Government bank, said that the agreement would help enterprises avoid the case when VDB granted a guarantee [...]

VNBusinessNews – A big fire broke out at the New Toyo Pulppy Company Ltd., in the Vietnam – Singapore Industrial Park in Thuan An district, Binh Duong province on the midday of February 20. The fire spread fast to the materials and finished products depot because there were many inflammable things at the site. Having [...]

VNBusinessNews – Mercedes-Benz Vietnam, MBV, is set to launch the new Sprinter Panel Van, a cargo carrier of the Sprinter family with great success in Europe, on the Vietnamese market from today via its Autohaus dealers. Udo Loersch, MBV General Director, said that the Sprinter continues to be the most popular cargo vehicle with 1,140 [...]

VNBusinessNews – Over 200 cashew processing plants have planned to process 550,000 tonnes of cashews, export 120,000 tonnes of cashew nuts to earn US$500 million. The total area under cashew nationwide is now 420,000 hectares with the estimated output of 400,000 tonnes. Based on the current price of cashew nuts for export being put at [...]

VNBusinessNews – A VND5-10 million (US$287-573) fine will be handed to people who don’t re-export temporarily imported goods that are duty-free, according to a recently-issued government decree. The same fine will be applied to people who fail to re-export and re-import means of transport into or out of the country as outlined by law; or [...]

VNBusinessNews – More cruise ships are docking in Vietnam despite the global economic downturn’s tranquilizing effect on the local tourism sector, tour operators said. Ho Chi Minh City-based Saigontourist reported it received 6,000 cruise tourists in January, a 30 percent year-on-year increase. On January 27 alone, it welcomed 1,600 tourists when two five-star Costa Allegra [...]

VNBusinessNews – Customers trading at Asia Gold Floor of Asia Gold Joint Stock Co (AGC) will get a discount of 50% of transaction fee from 2,000 dong per ounce to 1,000 dong/ounce between February 16 and March 16, 2009. AGC forecasted that its total average gold trade will be increased to 100,000 ounces a day [...]

VNBusinessNews – Businesses will join hands to set up a mobile team that will travel between provinces to sell Vietnamese-made products in rural markets, the chief of the Business Studies and Assistance Center said. “The move is a measure to help local businesses cope with the recession which is affecting their exports and increase their [...]

VNBusinessNews – The State Bank of Vietnam’s (SBV) governor, Nguyen Van Giau, on February 18 worked with two banks namely Saigon-Hanoi Commercial Joint Stock Bank (SHB) and Australia & New Zealand Banking Group (ANZ) Vietnam on the implementation of the government’s Decision No 131/QD-TTg. Up to February 18, ANZ Vietnam disbursed over 500 billion dong. [...]

VNBusinessNews – The Vietnam Urban and Industrial Zone Development Investment Corporation will build a 70-kilometer highway from Bien Hoa to Vung Tau in 2011, its Deputy General Director Nguyen Van Thuy said Wednesday. The highway will start from National Highway 1A, bypass Bien Hoa Town and continue to kilometer 71+600 on national road 51. It [...]

VNBusinessNews – State oil monopoly Petrovietnam is in talks with a number of foreign oil companies including Royal Dutch Shell (RDSa.L), India’s Essar and South Korea’s SK Energy (096770.KS) to upgrade and sell part of the country’s first refinery. The Ministry of Planning and Investment-run Dau Tu newspaper quoted Petrovietnam chairman Dinh La Thang as [...]

VNBusinessNews – Organizations that have yet to submit their employees’ new income taxes must return the money by the last working day of this month, according to a Ministry of Finance dispatch issued Wednesday. The dispatch is a follow-up to a circular released earlier this month delaying the new Personal Income Tax Law for several [...]

VNBusinessNews – After four-years of building work, Viet Nam will inaugurating its first oil refinery on Sunday, easing the Southeast Asian country’s dependence on imported fuels and in so doing, further shaking up regional oil trade flows. The Dung Quat refinery is just one of a string of new Asian refineries coming on line -Reliance [...]