News

• Fast food consumers pay a hefty price

  February, 25 2014

  HCM CITY — Fried chicken, hamburger and pizza are often the first choices of HCM City children when their parents ask them what they would like to eat.

  For parent Pham Thi Thu Trang of District 1, the quick service of fast-food restaurants, as well as free toys, play areas and other perks such as air conditioning, are appealing to busy, working adults.

  “Fast food is quick and convenient,” Trang said. “And I’m too lazy to cook on weekends.”
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• Thailand to end rice subsidy scheme

  February 12, 2014

  Thailand is to scrap a contentious rice subsidy scheme that has cost billions of dollars and stoked the country’s deepening political crisis, the government said on Tuesday.

  The crisis-hit programme, which has sparked protests from unpaid farmers, will end this month because the nation’s caretaker administration has no authority to extend it, ministers said.

  The sudden announcement raises the stakes in the battle for political control of Thailand, although the government refused to rule out reviving an ailing scheme that is central to its appeal to its rural electoral heartland.
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• Revised law to improve local investment climate

  February 11, 2014

  HA NOI — The Ministry of Planning and Investment has announced the completion of the draft of the amended Investment Law to further improve the quality and efficiency of the country’s investment climate.

  The draft amended law will help attract investments based on the priorities laid out in the country’s socio-economic development strategy for the 2011-20 period.

  The new law will also likely contribute to the restructuring of the economy and help foreign investors overcome existing bureaucratic bottlenecks and meet Viet Nam’s requirements for opening its markets.
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• Power industry faces competition test in 2016

  February 11, 2014

  HA NOI — The Ministry of Industry and Trade (MoIT) must finalise all conditions that will help develop the competitive power generation market (VCGM) and get it trial-ready by 2016.

  Deputy Prime Minister Hoang Trung Hai has stated this. The matters of concern include general regulations, market models, contract mechanism, operations, payment, capital allocation and new investments.

  MoIT and the Electricity of Viet Nam (EVN) have already proposed a master plan for trial of the VCGM in 2015-16 period and for an official launch in 2017.
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• Vietnamese SMEs need stronger legal skills

  January 24, 2014

  Small and medium enterprises (SMEs) in Vietnam need to improve their legal understanding so that they can improve their response to problems, an industry insider says.

  Le Anh Van, Deputy Director of the Centre for Legal Assistance and Human Resource Development under the Vietnam SMEs Association, said at a recent conference that this would increase the competitiveness of Vietnamese enterprises.

  Van said that the number of enterprises in the country surged sharply after the introduction of the Enterprise Law in 2005 but their quality and competitiveness were still poor, partly because of insufficient legal understanding and low management skills.
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• Industry still missing an opportunity to slash energy use

  January 23, 2014

  Research commissioned by ABB has confirmed that energy efficiency remains a high priority for executives in industry. Of more than 300 surveyed in the manufacturing and power sectors by the Economist Intelligence Unit (EIU), almost all said energy efficiency will remain a factor crucial to success for their companies in the next two decades. But three quarters of those same executives said they faced barriers to improving energy efficiency, and data from the EIU report indicates that these barriers are affecting more companies.

  This is a problem for reasons of industrial competitiveness amid high and rising energy costs and because energy efficiency is the most effective way to limit our impact on the environment. It might not be exciting or glamorous, but reducing the amount of energy consumed for the same or a greater amount of output is unquestionably the most sustainable approach of all.
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• Businesses fear impact of TPP agreement

  January 20, 2014

  HCM CITY — The Trans-Pacific Partnership (TPP) agreement is entering its final rounds of negotiation. With such a game changing deal imminent, Vietnamese experts have been considering the impact to be felt by local businesses – with many warning that along with great opportunities, Viet Nam will also face significant challenges.

  HCM City, Viet Nam ‘s business hub, has been active in preparing for its integration into the TPP region.

  The TPP agreement is expected to help Viet Nam hold its traditional markets, gain better access to new markets among TPP country members and promote exports to new markets.
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• Decree lifts foreign ownership cap

  January 09, 2014

  HA NOI — A single foreign strategic investor is now allowed to hold up to 20 per cent in a credit institution, an increase from the current 15 per cent.

  According to Decree 01/2014/ND-CP, issued late last week and to come into force on February 20, it is expected the decree will pave the way for foreign capital to flow into the banking sector.

  Previously, the holding of a foreign investor was capped at 15 per cent, or 20 per cent for exceptions that had to be approved by the Prime Minister.
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