IBM showcases smarter business banking series

Top business leaders from Government, finance, banking and other sectors gathered in Ha Noi on Thursday to discuss market trends and business solutions at a seminar held in conjunction with an exhibition of IBM's information technology solutions.

The seminar aims to promote IBM's smarter business and technology series to businesses operating in Viet Nam.

With co-operation from domestic and foreign partners, it drew the participation of nearly 200 leaders from IT companies and other enterprises in the capital city.

During the seminar, experts and leaders from the Ministry of Information and Communications, IDC Viet Nam and IBM discussed solutions to various challenges in the Vietnamese market to help organisations and enterprises develop, analyse and address information in a flexible manner.

Truong Quyen, an expert from IDC Viet Nam, said Vietnamese banking needed to focus on core issues on data management and integration, expense management and improvement of banks' business performance after implementing better risk management.

Quyen said the seminar was a place where organisations and businesses in the banking industry could share and discuss information and keep track of progress on the sector's targets.

Representatives from businesses in the banking industry shared their experiences in IT solutions that enhance business performance.

Singapore bank opens branch in VN

Singapore-headquartered DBS Bank opened in HCM City on Wednesday its first branch in Viet Nam.

In a release, it said it would support companies with business interests in the country by connecting them to the bank's extensive regional network and providing them trade financing, receivables financing, remittance, and cash management services and capital-market access.

While initially it will only cater to companies, it will later expand into personal banking.

Large eco-tourism region to be built in Phu Tho

The Tam Nong Sport Tourism Urban Centre (Dream City) would be built on a total area of more than 2,000 ha in Tam Nong District, Phu Tho Province to become the largest eco-tourism area in the north of Viet Nam, said the Viet Han Trading, Advertising, Construction and Real Estate Ltd Company.

"Viet Han, the project developer, will invest VND5.8 trillion (US$276.2 million) to build infrastructure of the region," Viet Han general director, Dinh Ngoc Chau Huong, said yesterday at a ceremony for the project's announcement.

"The company expects the infrastructure to encourage regional investment that will turn the area into a modern and convenient eco-urban region with many sport and entertainment options," Huong said.

When completed, Dream City will include facilities such as a luxury golf course, a wild animal park, a Disneyland-standard amusement park and a five-star hotel. It will also have an exhibition centre and a shopping centre.

Dream City is located about 60km from Ha Noi near the roads to the Hung Temple and Xuan Son National Park. With a convenient transport system, Dream City will connect with other tourism regions in Thanh Thuy, Thanh Son and Thao River.

Deals worth $240,000 signed in Vinh Phuc

Businesses signed contracts worth VND5 billion (over US$240,000) during the northern – economic-zone trade fair which ended early this week in Vinh Phuc Province.

The six-day event, part of the national Trade Promotion Programme 2010, attracted 80,000 visitors.

Displays included exhibits of agricultural and seafood products, construction materials, handicrafts and fine arts, furniture, electronics and IT equipment.

VN needs highly skilled accountants

The Vietnamese economy needs highly skilled professionals in accounting, finance, and business management for a sustainable future, an Australian accounting expert says.

Rob Thomason, general manager of Certified Public Accountant (CPA) Australia, said a Vietnamese accounting industry with a strong adherence to ethics, transparency and reporting rigour would play a key role in attracting foreign investment.

CPA Australia recently held a seminar on accounting – and auditing-related problems in the post-crisis period for officials from various ministries, State accounting and audit agencies, universities, and companies in these sectors.

Imported food prices keep on soaring

Strong price increases of imported food have been registered in the domestic market since the beginning of October, particularly for chicken and beef imported from Australia, Argentina and the US, according to HCM City importers.

Chicken prices have increased by US$1,200 per tonne, a $400 increase against the same period last year.

Drug firms barred from raising prices

The Drug Administration of Viet Nam (DAV) has prohibited foreign firms from increasing drug prices till the end of 2010 in an aim to stabilise the domestic drug market.

Firms have also been encouraged to discount high-sales products.