coal industry fumes as us revokes mining permit

Coal industry fumes as US revokes mining permit

The withdrawal of a permit for a controversial "mountaintop removal" coal mining operation has sparked outrage in the US industry, but was hailed as a victory for environmental protection and the health of nearby communities.
rmit links up with global accountancy body

RMIT links up with global accountancy body

RMIT international university Vietnam has joined forces with a major international accountancy association to support the development of accountancy education in Vietnam.
bnp paribas helping rich clients evade tax report

BNP Paribas helping rich clients evade tax: report

French bank BNP Paribas is selling financial products that permit wealthy clients to evade tax, despite European efforts to crack down on tax evasion, news weekly Marianne reported on Friday.
us approves worlds biggest solar energy project

US approves world's biggest solar energy project

The United States approved on Monday a permit for the largest solar energy project in the world -- four massive plants at the cost of one billion dollars each in southern California.
heated foreign property debate

Heated foreign property debate

The latest move to allow foreigners to buy residential apartments in Vietnam has come under fire. The latest draft regulation composed by Ministry of Construction (MoC) permits seven foreigner groups to purchase residential apartments in Vietnam.
government moves to rein in dollarisation

Government moves to rein in dollarisation

The State Bank’s tightened dollar lending regulations may allow it to kill two birds with one stone. With the Decision 09/2008/QD-NHNN coming into effect from April 25, 2008 after a seven-month study, customers are now permitted to borrow dollars from commercial banks for three purposes instead of the previous eight.
investors seeking room to move

Investors seeking room to move

Recent reports lauding a supposed increase in permitted foreign ownership of unlisted public companies to 40 per cent may miss the point. Any restriction on foreign ownership of such companies may be, with some exceptions, a breach of Vietnam’s World Trade Organization commitments.

Foreigners to have their own slice of Vietnam

A new proposal to permit foreigners and foreign organisations to own property in Vietnam is being hailed by investors as a landmark move.Richard Leech, director of the CB Richard Ellis, said the proposal, drawn up by the Ministry of Construction, was a good move for the country.

Mitsui gets access to distribution sector

Tokyo-based Mitsu & Co, Ltd was licensed last week to open a trading and distribution company in Vietnam, making it the first foreign company permitted to fully participate in Vietnam’s heretofore banned distribution sector.

FIEs to hit bourse

Foreign invested enterprises (FIEs) can now float their shares on the bourse, but they will not be permitted to release 100 per cent of shares on the market, according to a new guiding circular released by the State Securities Commission (SSC) last week.
european banks hail deposit move

European banks hail deposit move

European Union banks operating in Vietnam are now permitted to accept Vietnamese dong deposits at the same level as their American counterparts, according to a new decision issued by the State Bank of Vietnam last week.

Giant SOE share offer on the cards

Four equitised SOEs may get the right to sell some of their remaining state-owned shares if the prime minister approves a proposal from the Ministry of Finance.The proposal, Document 4839, suggests Vinamilk, Binh Minh Plastics, Petrolimex chemical company and Petrolimex gas company be permitted to sell an undecided portion of their state-controlled shares.

Objections to State Bank convertible bond issue

The government is considering a move to permit state-owned banks to issue convertible bonds to increase their capital, triggering protests from other financial institutions.

BTA wires telcos for joint ventures

Foreign companies can now hold as much as 50 per cent in joint ventures with Vietnamese companies to provide telecoms service in the strictly controlled telecoms sector.Deputy minister of Post and Telematics, Mai Liem Truc, last week confirmed that under the bilateral trade agreement (BTA) between Vietnam and the US, foreign companies would be permitted to form joint ventures with local partners to provide value-added services from December 12, Internet services from late next year, and basic telecoms and mobile phone services from December 2005.

State moves to sell bonds to foreigners

FOREIGNERS will be permitted to buy government bonds if a new decree submitted to government last week is approved.