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Vietnam verifies Japanese alleged bribes for ODA project

The Ministry of Transport is verifying claims that  an executive of the Japan Transportation Consultants, Inc. (JTC) bribed Vietnamese transport officials in return for an ODA project. The Yomiuri Shimbun of Japan reported that JTC President Tamio Kakinuma admitted the Tokyo-based railway consultant firm had offered corrupt financial incentives to a number of Vietnamese railway officials to win... 

Vietnam needs to further improve investment climate

A seminar on improving investment environment was held in Hanoi on March 18 by the Development Strategy Institute (DSI) and the European Chamber of Commerce (EuroCham). The seminar provided a good opportunity for investors, experts, researchers and lawmakers to discuss issues related to seaport infrastructure development, foreign operations in the banking sector, price management, and a price law in... 

Vietnam is a lucrative location for Singaporean investors

Dr Admad Md Magrad, Vice President of the ASEAN Business Group under the Singapore Manufacturing Federation (SMF) has said that companies in Singapore find Vietnam a highly lucrative location to expand production activities. Speaking on the sidelines of a recent seminar “Doing Business in Vietnam”, Dr Admad stated that Vietnam’s laws on business activities have been much improved in recent years. “This... 

US$1.3 billion investment in energy

Construction will begin on March 9th on the Vinh Tan 4 thermal power plant, in the central province of Binh Thuan, at an estimated cost of VND36,000 billion (approximately US$1.3 billion), reported the Electricity of Vietnam (EVN). The 1,200 MW plant is expected to generate 7.2 billion kWh annually to ease the shortage of electricity in southern Vietnam. According to the schedule, the first turbine... 

IFC to invest in Vietnamese SMEs

Philippe L. Ahoua, the International Finance Corporation’s (IFC) Asia Pacific Region Treasury Client Solutions Spokesperson, has detailed the corporation’s intentions to invest in Vietnamese small and medium-sized enterprises (SMEs) in the near future. Speaking on the sidelines of a seminar on Vietnamese capital market development, Mr. Ahoua noted the country remains without a credit rating agency... 

Overseas remittances likely to hit US$11 billion

Commercial banks are expecting a sharp increase in overseas remittances as 2013 draws to a close, estimating a yearly total approaching US$11 billion. Vietnamese banks channel an annual average of approximately US$10 billion in overseas remittances, ranking among the ten highest overseas remittance recipients in the world. Labour market recoveries in the US, Australia, Canada, and many other countries... 

Incentives for Vietnamese investors in Belgium

A seminar was held in the Mekong Delta city of Can Tho on December 10 to introduce investment opportunities and incentives for Vietnamese businesses who are keen on the Belgian market. The event, jointly held by the Can Tho city People’s Committee and the Belgian Embassy in Vietnam, made clear advantages for Vietnamese investors in Belgium’s East Flanders province. Marc De Buck, Deputy Governor... 

Vietnam supports Samsung expansion plan

Deputy Prime Minister Nguyen Xuan Phuc pledged to create favourable conditions for Samsung Electronics to implement its investment projects in Vietnam. While receiving Samsung Electronics Vietnam General Director Shim Won Hwan in Hanoi on December 6, Phuc welcomed the group’s decision to select Vietnam as the world’s largest production base and expand operations in the country. Samsung has so far... 

Binh Duong’s focus of investment in 6 major areas

The southern province of Binh Duong needs investment in the fields of electricity-electronics, support industry, precise engineering, industrial pharmacy, pharmaceutical equipment, and food and high-quality food processing. Le Thanh Cung, Chairman of the Provincial People’s Committee, said the scale of investment depends on specific needs, technological skills and business plans. The province always... 

Japanese firms seek investment opportunities in Binh Duong

A Japanese enterprise delegation led by Nakagaki Yoshihiko, Vice President of the International Friendship Exchange Council of Japan (FEC), had working session with People’s Committee of Binh Duong Province on November 25. They inquired into the local economic development over the years, requirements for foreign investment and electricity supply for industrialization and urbanization. Le Thanh... 
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