SBV releases new circular on overseas investment The State Bank of Viet Nam (SBV) has issued a circular, effective from February 14, to regulate the opening and usage of foreign currency accounts for investing abroad. Accordingly, after receiving a certificate for overseas investments, an investor must open an account for all transactions related to investments in foreign currencies at an authorised credit institution. The investor will also have to register with SBV or its branches in the provinces and cities. An investor with several overseas investment projects must open an account for each project. If a project receives investments from multiple investors, each investor must open an account for his/her investment at the same authorised credit institutions in accordance with the investment certificate issued by the authorised agencies of Viet Nam. SBV's Department of Foreign Currency Management is authorised to certify the registration of overseas investments, account changes and … [Read more...] about BUSINESS IN BRIEF JAN. 14
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ICT strategy to generate new “e-citizens”
Vietnam will strengthen the use and applications of information and communication technologies (ICTs) in government, business and throughout the education system. This will enable users all over the country to benefit from using ICT applications, according to the latest draft of the national ICT strategy for Vietnam released by the Ministry of Post and Telematics (MOPT) at the 3rd ICT round-table on October 1st in Hanoi. The draft outlines the strategy for ICT application in all economic, cultural and political fields. It is expected that by 2010 ICT will become a pillar of socio-economic development, as every corner of the country will have access to information published on Internet and be able to perform transactions. This serves as a considerable improvement in settling current constraints, including high ICT application cost for the average population, as well as the unfavourable environment for application development. Deputy Minister of MOPT Mai Liem Truc said the national … [Read more...] about ICT strategy to generate new “e-citizens”
IT firm expands into new centre
IT firm expands into new centre (19-11-2009) HCM CITY — Semiconductor maker Applied Micro Circuits Corporation (AMCC) yesterday announced the opening of a new office in HCM City. The office would expand its existing facility and strengthen efforts in integrated circuit design and software development, the company said. The larger facility would enable the company hire more employees from Viet Nam's talented engineering pool, it added. The new centre also marked a milestone of the company changing its name from AMCC to AppliedMicro to reflect a new focus on greater energy efficiency and lower costs for its high performance connectivity and processing products, it said. "The outstanding efforts turned in by AppliedMicro's Viet Nam design team since its inception in 2008 have encouraged the company to expand its presence by opening a new office today," said Paramesh Gopi, president and CEO of AppliedMicro, who presided over the opening ceremony. "The new office means more jobs for … [Read more...] about IT firm expands into new centre
Vietnam’s leading fertilizer producer opens Cambodia office, inks 3 deals
PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), a member of Vietnam National Oil and Gas Group (PetroVietnam), inaugurated its Cambodia office and signed three agreements with local partners on May 7. Almost 400 Cambodian and Vietnamese guests attended an inauguration ceremony in Phnom Penh on Friday evening including company chairman Nguyen Xuan Thang and Cambodian Deputy Prime Minister Men Sam An. Also present were senior trade and agriculture officials from the two countries as well as government officials and fertilizer distributors from 16 Cambodian provinces including major rice producers such as Battambang, Kompong Thom, Takeo and Kandal. In a keynote address, Mr. Thang thanked the Cambodian Government and government officials for their support in welcoming the Vietnamese company's investment in Cambodia, its first export market. "We look forward to continued support from the Government of Cambodia," he said. "At the same time, we hope that PetroVietnam and the … [Read more...] about Vietnam’s leading fertilizer producer opens Cambodia office, inks 3 deals
EU SMEs seek business opportunities in Vietnam
(CPV) - As part of the EU's efforts to deepen economic relations with countries in the dynamic ASEAN region, Vice President Antonio Tajani, European Commissioner for Enterprise and Industry, has led a "Mission for growth to Vietnam" between November 12-13. He is accompanied by nearly 50 representatives from EU industry associations and companies, in particular, those operating in key areas of EU-Vietnam business: tourism, agri-business and manufactured goods. During his visit, he inaugurated the EU-Vietnam Business Network and signed two Letters of Intent with the Government of Vietnam, on SME policy and on sustainable tourism. This visit was part of a series of missions to help European enterprises better profit from fast growing international markets. Trade and investment between the EU and Vietnam have been steadily growing over recent years, with EU companies considering the country as a potential production base, a lucrative and growing market and one of the key gateways to the … [Read more...] about EU SMEs seek business opportunities in Vietnam