Business

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National information systems built up, local put in mothballs

 VietNamNet Bridge – A lot of information systems built and developed for local use, have become waste since they cannot be integrated into the national information systems.

BUSINESS IN BRIEF 14/10

 Vietnam International Business Centre debuts; Vietnam to import 600,000 tonnes of cotton in 2013; Local milk exported to 26 countries; Vietnam expects to get more ODA from EU

BUSINESS IN BRIEF 2/10

 India imports more tra fish from Vietnam; Vietnam-Singapore trade turnover picks up; Two localities promote investment in the RoK; Halong-Fangchenggang cruise route back in service

BUSINESS IN BRIEF 30/9

Mobile phone exports target US$20 billion; MoF examines ways to restructure tax debt; Vietnam elected to WIPO budget committee; Businesses seek to penetrate UAE

Over 4,700 enterprises in HCM City resume operation

 VietNamNet Bridge – Officials of the Department of Planning and Investment of HCM City said that in the January-August period of 2013, more than 4,700 businesses in the city resumed business registration.

Minimum wage increase decision makes businesses dumbstruck

 VietNamNet Bridge – The National Wage Council has agreed to the plan on raising the regional minimum wage from 2014 by VND250,000-400,000, or 15-17 percent. This has caused a big headache to both businesses and workers.

BUSINESS IN BRIEF 21/9

 Local companies need x-factor to hit Indonesian market; Food processing industry given financial support; Can Tho eyes hi-tech incubator; August trade surplus hits US$176m

BUSINESS IN BRIEF 20/9

 Mekong Delta looks to capitalise on tra fish; Binh Duong attracts property developers; Trade disputes up alongside economic integration; Market hot as fire sales spread

Complicated tax refund procedures put businesses against the wall

 VietNamNet Bridge – The delay in refunding VAT to enterprises has pushed a lot of them to death.

Franchisees have to go the thorny path to success

 VietNamNet Bridge – There has been no success story about the secondary franchising in Vietnam, according to experts.

Nestle claims decades-long losses

 Nestlé Vietnam has reported accumulative losses since officially beginning operations in Vietnam 18 years ago, despite their strong market presence and rampant investment expansion.

BUSINESS IN BRIEF 6/8

 Consumer goods producers fare well; Plastic exports continue to rise; Exporters eager to follow Phu Quoc; Vietnamese market falls back in world index; One in, one out on HCM City exchange

Big guys rush to build seaports

 VietNamNet Bridge – Investing in seaports and hydropower plants is believed to be the business fields which can bring superprofit to huge investors. However, the projects are really the huge “money hungry machines.”

BUSINESS IN BRIEF 5/8

 More firms approved to use fast track customs service; 5.5% GDP target within reach?; Crunch time for manufacturers in July; Enterprises in difficulty despite intervention

M&A continues high growth after booming

The value of M&A deals in 2013 is forecast to be at some $4 billion, lower than the record level made in 2012. However, experts believe the M&A market would continue rising with the average growth rate of 25-30 percent per annum.

Businessmen’s personal data sold on Internet

 VietNamNet Bridge – The personal information of hundreds of thousands of businesses and businessmen has been offered for sale on Internet for just VND700,000.

Unable to go bankrupt, businesses turn to crimes

 VietNamNet Bridge – A lot of businesses which cannot declare bankruptcy, have become the “zombies” which operate under disguised marks, cheat partners and evade tax.

Businesses worried sick about minimum wages

 VietNamNet Bridge – A lot of businesses say they have to borrow money from commercial banks to pay to workers.

BUSINESS IN BRIEF 22/6

 ADB-funded project brings power to Lai Chau province; Strong growth forecast for high-tech export sector; Local products get thumbs up; Sai Gon Co.op opens supermarket

Bad debts decrease, but worries still exist

The pressure on the banking system has been eased once the bad debts are on the decrease. However, bankers themselves admitted that their worries still have not been lifted.