At a recent Investment forum in Hanoi, Singapore's Acting Second Minister for Finance and Secretary of State for Foreign Affairs Raymond Lim said:" I recently visited Hanoi and was deeply impressed by a city with noisy traffic, busy shops and hotels crowded with visitors. This shows that Vietnam is really moving in the market economy". foreign investors agreed that investing in Vietnam is safe and can avoid risk. In addition, with a surprising high economic growth, ranking second in the region after China, Vietnam is a promising and attractive destination for foreign investors, they added. Another advantage is that Vietnam has huge labour resources, 60 percent of them are under 30 years old. Being skilful and hard working, Vietnamese labourers have high competitiveness to compare with those from China, Thailand, Indonesia and Malaysia. Meanwhile Director of the World Bank to Vietnam Klaus Roland said Vietnam's investment attraction is as same as China's. Vietnam is always optimistic … [Read more...] about Vietnam is really moving in the market economy
Moving companies prices
CARACAS, March 24, 2009 (AFP) - Venezuela has begun an investigation into two paper companies, including US giant Kimberly-Clark, for allegedly skirting government price controls on products, officials said Monday. The probe was launched after consumer protection institute Indepabis inspected the premises of Kimberly-Clark and Manufacturas de Papel (Manpa) and found they had stopped producing products that came under price controls. Government agents searched factories of both firms in northern Maracay, a trade ministry statement said, adding that it was studying "additional measures" it might take to protect the consumer. The move follows President Hugo Chavez March 4 expropriation of a rice processing plant -- a subsidiary of US agriculture giant Cargill -- on charges it had stopped producing a variety of rice that also came under price controls. On March 5, Chavez expropriated a 1,500-hectare (3,700-acre) plantation owned by Irish paper manufacturer Smurfit Kappa to develop a … [Read more...] about Venezuela probes US paper company’s prices
Dollar exchange rate moves up strongly Thanh Thuong By Thanh Thuong - The Saigon Times Daily HCMC – The U.S. dollar has firmed sharply against Vietnam dong over the past days, staying at VND21,450 on the unofficial market on Monday. Foreign currency trading at Ben Thanh Market as the forex hub in HCMC remained normal on Monday as agents secured greenback supplies for customers. However, dollar prices jumped from VND21,250 and VND21,350 for buying and selling in the morning to VND21,350 and VND21,450 in the afternoon. These levels were around VND350 higher than last Thursday for a dollar and slightly higher than last Saturday. Owner of a gold shop in this area said that foreign currency demand has increased since last weekend. Besides, rumors on possible currency change in Vietnam like in the 80s spread out quickly, prompting people to buy dollars, though the central bank has squarely rejected such rumors. Meanwhile, gold trafficking has become active due to huge difference … [Read more...] about Dollar exchange rate moves up strongly
Police traffic officers or their relatives own many fleets of dump trucks in Ho Chi Minh City and other localities, allowing the drivers to easily violate traffic laws without fear of retribution, and in other cases company owners pay off police, Tuoi Tre has learned. The owner of the Cong Khanh truck fleet which operates in HCM City and Binh Duong and Dong Nai provinces is a relative to a high-ranking traffic police officer in Dong Nai, according to at Tuoi Tre investigation. Cong Khanh, whose drivers frequently drive at high speeds and ignore traffic regulations, carries out most of the contracts for transporting construction materials in the three localities. In Dong Nai province’s Thong Nhat District, a large fleet of dump trucks is owned by a traffic police officer. The officer’s son, who is head deputy of a local traffic police unit, protects the fleet’s drivers. In the province’s Trang Bom District, the Tuan Hanh fleet is co-owned by a man named … [Read more...] about Police-owned truck companies follow own rules
The footballer-transfer market is considered a big hindrance for the development of Vietnam’s football. How has this market operated in the last eight years? In 2003, Minh Phuong moved from Saigon Port FC to Dong Tam Long An FC at the transfer price of VND400 million (around $30,000). In 2003, Minh Phuong moved from Saigon Port FC to Dong Tam Long An FC at the price of VND400 million (around $30,000). This was the record high price at that time. Eight years later, the record price belongs to midfielder Phuoc Tu, who left Thanh Hoa FC to Saigon Xuan Thanh at the transfer fees of VND12 billion ($600,000). In the first two V-Leagues, no domestic player was transferred. Minh Phuong was the first case. After that affair, Trinh Xuan Thanh and Truong Giang moved from Hai Phong and Tien Giang FCs to Binh Duong FC. Truong Giang made a new record with transfer fee of VND1.2 billion (around $80,000), to become the most expensive player at that time (except for foreign players). By … [Read more...] about Prices for Vietnamese football players gallop, why?