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PM sets new airline capital thresholds

Prime Minister Nguyen Tan Dung has signed a decision stipulating that no commercial airline can be formed unless it has a minimum capital of 300 billion VND (14.4 million USD). The threshold applies to airlines which have less than ten aircraft and operate solely domestic flights, the Nhan dan (People’s) Online quoted the decision as saying. The minimum capital will ... Read More »

Master plan improves HCM City transport

The Prime Minister has approved a master plan for Ho Chi Minh City that calls for high-quality public transport that offers reasonable prices, convenience and safety. The plan, which extends to 2020, also requires improvements in logistics services and reduced environmental pollution caused by all means of transport. Buses, taxis and urban railways would cover 20-25 percent of transport demand. ... Read More »

Index falls on blue chip sell-off

The market plummeted suddenly in the last 20 minutes of trading on April 10 despite rising for almost the entire session, pushing the VN-Index down by nearly 14 points, or 2.74 percent, to close at 496.50 points. An unexpected reduction of the gasoline price on April 9 helped lift shares on the Ho Chi Minh Stock Exchange in the morning, ... Read More »

Bank assets surge 1.2 billion USD in Feb

After a decline in the first month of the year, domestic banks are recovering and register an increase in asset, according to the State Bank of Vietnam (SBV). SBV’s data showed that the total assets of the whole banking industry by the end of February surged by nearly 26 trillion VND (roughly 1.24 billion USD) against the previous month to ... Read More »

BUSINESS IN BRIEF 11/4

Banks and businesses need mutual trust Commercial banks are bearing the brunt of the economic slowdown, putting them in a paradoxical situation: they have an oversupply of money, but cannot lend it to businesses. Like many other economic sectors, the banking industry is struggling to weather the storm and support the national economy. Commercial banks are tipped to lower interest ... Read More »

MGM would stay with Ho Tram Strip?

VietNamNet Bridge – Asian Coast Development Ltd (ACDL), the Canadian investor of the mammoth $4.2 billion Ho Tram resort project, has stated that it received the new investment license on April 4. ACDL’s Managing Director Nathan Lloyd said this was a “great day” of the project.   What will come to Ho Tram in the post-MGM period?  Government licenses Las ... Read More »

VinaWealth to launch more open-ended funds

VinaWealth to launch more open-ended funds HCM CITY (VNS)— VinaWealth Fund Management JSC plans to launch two more open-ended funds this year after the successful launch of its first such fund last month, the VinaWealth Enhanced Fixed Income Fund. Sebastian Subba, CEO of VinaWealth, a local fund management company backed by the VinaCapital group, said the funds are likely to ... Read More »

EU market opens doors to Vietnamese honey

Giving cash to doctors is straight-out bribery In a training course on work ethics for medical workers last month, Health Minister Nguyen Thi Kim Tien put forth the idea that it would be appropriate for doctors to receive money from patients after their successful treatment as a thank-you gift. Breast is best for new-born babies Advertising cons many parents into ... Read More »

Vietnam Airlines offers summer promotion

Vietnam Airlines offers summer promotion The national flagship carrier Vietnam Airlines launched its annual ‘Hello, 2013 Summer Holiday’ promotion for passengers in Viet Nam who buy tickets from April 8-21 on both domestic and international flights.—Photo vietnamairline HA NOI (VNS)— The national flagship carrier Vietnam Airlines launched its annual ‘Hello, 2013 Summer Holiday’ promotion for passengers in Viet Nam who ... Read More »

Threat of power crisis slowly lifts

VietNamNet Bridge – A steady flow of electricity from new energy projects should ensure that Vietnam avoids the power shortages that often bedeviled business operations last year. Tran Khac Thi, vice head of Electricity of Vietnam’s (EVN) Planning Section, offered this assurance during a meeting between the Ministry of Planning and Investment and representatives from ministries and localities regarding Vietnam’s ... Read More »