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Business News Briefs
Friday,  Sep 12, 2008,11:22 (GMT+7)
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Business News Briefs

City orders halt to work on An Phu Apartment project

The HCMC government has demanded that the An Phu Apartment project along inter-provincial road 25B in HCMC’s District 2 be canceled, and the land plot should be turned into a park, Nguoi Lao Dong reports.

More Viet Kieu eligible to buy houses

More Vietnamese Overseas or Viet Kieu will be allowed to buy houses in Vietnam as suggested in the draft law on amendments to the Housing Law, Tuoi Tre reports. Under the draft, the eligible people will also include Vietnamese citizens abroad or Vietnamese descendents directly investing in Vietnam, getting married to local citizens, or those who contributed to the country, and people with university degrees working in socio-economic sectors.

Vị trí đặt quảng cáoMinistry wants quicker rice export

The Ministry of Industry and Trade has asked the Vietnam Food Association to accelerate rice export in the rest of the year, Tin Tuc reports. Accordingly, the association will have to boost rice delivery for signed contracts, and quicken negotiations for new government-to-government contracts.

Ministry to tighten control on prices

The Ministry of Finance seeking to tighten control of market prices will impose tax on commodities stockpiled in warehouses to choke off speculation, especially fertilizer, Tuoi Tre quoted Nguyen Tien Thoa, director of the ministry’s Price Management Bureau. The ministry will also probe price calculations by enterprises, and those giving unreasonably high prices will be punished.

VPPA disagrees with reduction of paper import tax

The Vietnam Pulp and Paper Association (VPPA) has protested a recent decision by the Ministry of Finance to reduce import tariff on paper products, saying such as move would seriously hamper domestic production as foreign items would easily enter the market and beat local products, Tin Tuc reports.

First coffee transaction center to start operation soon

Work on the first coffee transaction center is nearly finished and the exchange will be put into operation on the occasion of the second Coffee Festival Buon Ma Thuot 2008 taking place from December 10 to 14, Lao Dong quoted Vo Thanh Chau, director of the center, as saying. The center developed at a cost of more than VND20 billion is a place for purchasing and selling coffee under auctions.

Four businesses removed from anti-dumping tax

The U.S. Department of Commerce on Wednesday decided to remove anti-dumping tax earlier imposed on four Vietnamese fishery processors comprising Minh Phat Seafood Co. Ltd., Camimex, Grobest & I-Mei Industry Vietnam, and Viet Hai Seafoods Company Ltd. (Vietnam Fish One Co. Ltd.), Thanh Nien quoted the Association of Seafood Exporters and Processors (VASEP).

Demand for petrol and oil up 8-10% per year

The demand for petrol and oil products in Vietnam is forecast to increase an average of 8-10% per year in the period of 2006-2010, Sai Gon Giai Phong reports.

New tariff on ore export

The Ministry of Finance on Tuesday announced a new tariff on ore export that will come into force 15 days after being published on the Official Gazette. Accordingly, zircon ore and pure zircon will be subject to tariffs of 20% and 10%, respectively, Lao Dong reports.

Waste import require licenses

Any enterprises wanting to import wastes to be recycled domestically or for re-export will have to acquire permits, and dossiers will be considered on a case-by-case basis, Nguoi Lao Dong reports. The new rule is aimed to curb environment pollution due to the activity.

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