Thread: Latest news on the Dong!

Take a look here.
1 Million Vietnam Dong Vietnam Currency-Great Investment $195-Sale$179.00
They seem to sell the dong. Do your own D.D. Invest at your own risk.

Originally Posted by YogiBrood

The stocks offered to foreign investors (who can mainly afford it) is an attractive invitation to help speed up the dynamics in a rather slow moving progress currently noticed...Wal-Markt should be a good platform to boost the drive from all corners...Sounds GREAT to note this development...thanks Chou...


YB. - I can hear the bells going Ding Donging....from this end...

You really think Wal-Mart is going into the market? That would be good news.

OSOK

Does anyone of you know if it's possible to open up a bank acount in Vietnam without having to go there personally (like with Warka Bank in Iraq)?

I'd really be interested in that as it would be cheaper to buy and re-sell Dong that way and also to invest in the local stock market.

And it would be safe if they'd decide to abolish the larger denominations after a possible reval or if there's a zero-lop. My 1.5 M are in 50,000- and 100,000- Dong notes and I know that even a 500,000-Dong note exists. I wonder if they'd really keep those big denoms after a reval.

Any ideas on that?

Antje

Viet Nam to host APEC Week on verge of WTO entry
18:23' 03/11/2006 (GMT+7)
VietNamNet Bridge - Australia is delighted that Vietnam is hosting the APEC Economic Leaders’ Week at a time when is on the verge of World Trade Organisation (WTO) entry, Australian Ambassador Bill Tweddell has said.

Speaking at a press conference in Hanoi on Nov. 3, Ambassador Tweddell said: “ Australia is, and has always been, a strong supporter of Vietnam ’s accession to the WTO and look forward to welcoming Vietnam as a fellow member of that vital organisation.”

He also said that he strongly endorsed “the recent comments by Vietnamese Deputy Trade Minister Luong Van Tu, who said he hoped Vietnam could contribute to breaking the WTO deadlock through its chairing of APEC.”

Regarding Vietnam ’s preparations for the APEC Economic Leaders’ Week, the Australian diplomat said: “ Vietnam has performed in an exemplary fashion during its host year in 2006. Most importantly, advances have been made on various important policy fronts, and new ideas generated.”

According to Ambassador Tweddell, the advances or ideas include the Ha Noi Action Plan – a valuable plan to achieve the 1994 APEC Bogor Goals, progress in agreeing on a series of model measures for free trade agreements in the region, and the APEC and Vietnam’s reaffirmation of its strong commitment to success in the WTO Doha round of negotiations.

He also noted that the organisation of the meetings, forums and seminars has been smooth and efficient.

“As incoming host for 2007, Australia has learnt a lot from Vietnam , in both policy and organisational areas. We are most indebted to Vietnam for the patience and thoroughness they have shown in helping us learn from them,” the Ambassador said, adding that Australia hopes to be able to welcome all APEC delegates to Australia with the same warmth and hospitability that Vietnam has shown throughout this year.

He also expressed his confidence that Vietnam will seize this opportunity to show itself in the best and possible light on the global stage.

Australia is one of the APEC founding members. It hosted the first APEC Economic Ministers’ Meeting in 1989.

(Source: VNA)

Government meets, PM instructs preparations for WTO entry
14:38' 03/11/2006 (GMT+7)


VietNamNet Bridge - Prime Minister Nguyen Tan Dung gave specific instructions on preparations for the country's accession to the World Trade Organisation, and the hosting of the 14th APEC Economic Leaders' Meeting.

At the Government's regular meeting held in Hanoi on November 2, the PM also directed the fight against corruption and social evils and the drive to curb traffic accidents.

He highlighted good results recorded in the national economy and other fields, including healthcare, education, poverty reduction, job increases, security and foreign affairs over the past ten months as indications that the targets introduced to the 10th National Assembly can be achieved.

At the meeting, representatives from the Ministry of Planning and Investment, and the Trade Ministry, reported that industrial production value for October rose 2.5% over September and 17.4% over last October.

October's export value was up 3.3% compared with September and 24% over the same period last year to over US $32.8 million.

Finance Minister Vu Van Ninh reported on market performance and the management of prices over the past months, and presented directions to control prices of commodities and services in 2007.

Trade Minister Truong Dinh Tuyen briefed cabinet members of the results of negotiations for the country's WTO entry and the implementation of follow-up steps.

(Source: VNA)

Deputy PM Pham Gia Khiem to attend WTO initiation
16:12' 01/11/2006 (GMT+7)

VietNamNet Bridge – Deputy Prime Minister, Foreign Minister Pham Gia Khiem will lead a Vietnamese delegation to attend the ceremony admitting Vietnam as the 150th member of the World Trade Organisation (WTO) in Geneva, Switzerland on November 7.

According to an announcement by the Vietnamese Foreign Ministry, Mr Khiem will head to Geneva with many other high-ranking officials, including Trade Minister Truong Dinh Tuyen, Deputy Trade Minister – chief WTO negotiator Luong Van Tu, Vietnamese Ambassador to the WTO Ngo Quang Xuan and more than 30 other officials who have participated in the negotiation process in the past 11 years.

According to sources from Geneva, the initiation ceremony will be held on the morning of November 7 at the headquarters of the WTO under the witness of WTO General Director Pascal Lamy and Eirik Glenne, Chairman of the WTO General Assembly cum Chairman of the Working group on Vietnam’s WTO accession, and hundreds of WTO officials.

(Source: TN)

Luxurious cafés: lucrative businesses
21:01' 04/11/2006 (GMT+7)
Soạn: HA 945761 gửi đến 996 để nhận ảnh này

VietNamNet Bridge – Luxurious cafés have been mushrooming in Vietnam in the last few years as a result of increased foreign investment, more foreigners in Vietnam and higher income per capita in the country.

Luxurious cafés mushrooming

A Vietnamese Australian, who has spent much time wandering Saigon’s streets, said surprisingly that the cafés in the city seemed to be even more luxurious than in Australia. He said that it was hard to find a luxurious café in Australia, while there were many big ones in HCM City.

In fact, the so called ‘luxurious café’ has just appeared in HCM City in the last few years. At first, the city had small cafés only. However, competition between investors has led to the establishment of bigger and bigger cafés.

The luxurious café must be located in advantageous positions, which attract clients with their specific styles. According to investors, it costs at least VND5-6bil ($0.375mil) to set up a café. The figure is sometimes higher than the said capital sum. Zenta Café in district 1, for example, which appeared in the city in early 2006, astonished everyone with its vast capital sum of VND16bil ($1mil), not including the land leasing fee.

A lot of luxurious cafés have appeared in the city recently, including Planet, K&K, Ritar, and Yesterday. These cafés have their separate market segments. For example, Highlands targets officers, while Sao (MTV) tries to attract playboys, and Yesterday, entrepreneurs.

Who are the clients?

‘Windows’ is considered to have been the first luxurious café in HCM City. In the early 2000s, when there was only the café for popular people or the middle class like Trung Nguyen, Windows café seemed to be ‘like a fish out of water’ with its unique decoration, advantageous position and high-grade services. The establishment of Windows at that time triggered the establishment of a series of luxurious cafés afterwards.

More and more investors began thinking of opening luxurious cafés, and tried to attract clients with unique styles and good services, which, of course, require vast sums of investment capital.

Mr Tam, a businessman, who always comes to the café, said that every café has its specific style and its specific ways to lure visitors. Some cafés, especially the ones in the Tortoise Lake area, attract visitors with their beautiful supermodels, singers and artists. The stars come to the café every afternoon, chatting, drinking coffee and…receive wages.

The cafés, of course, do not only sell coffee, they also provide additional services. The clients, coming to drink coffee, can use Internet wireless service, photocopiers and fax machines as well.

The competitor from the US

A reliable source told VietNamNet that the US’ Starbucks, which owns nearly 3,000 cafés in 37 countries worldwide, is planning to penetrate Vietnam’s market. This is a café chain operating in the same way as Mc Donald’s, which has been operating for 35 years.

Though not having supermodels to attract clients as Vietnamese-owned cafés have, it is believed that Starbucks will be able to attract Vietnamese clients with its good-quality coffee and professional services.

In China, the Starbucks chain has been developing very rapidly: it already has 200 cafés in the country, just two years after the Government of China allowed 100% foreign owned retailers to enter the market.

Starbucks has been expanding its business by buying back a business in Hong Kong, which had 60 cafés. In Seattle, the US, Starbucks has purchased High Grown Investment Group Ltd and snapped up H&Q Asia Pacific.

Analysts are saying that the appearance of Starbucks in Vietnam will make the market more bustling, while causing headaches for existing Vietnamese café owners.

Nguyen Sa

NA Committee for External Affairs assesses Vietnam's WTO accession process
08:38' 04/11/2006 (GMT+7)

VietNamNet Bridge - Vietnam's parliamentarians in charge of external affairs on November 3 held a working session to assess the country's accession process to the World Trade Organisation (WTO) .
Soạn: HA 945419 gửi đến 996 để nhận ảnh này

Trade Minister Truong Dinh Tuyen told the National Assembly's Committee for External Affairs that the working party on Vietnam's accession to the WTO in its 14th official session in Geneva on October 26 adopted a package of documents related to Vietnam's accession, paving the way for the WTO General Council to admitting Vietnam as the 150th member November 7.

The Trade Minister, who spoke on behalf of the Vietnamese Government, reported in detail all Vietnam's commitments on its WTO membership to members of the committee.

According to the committee, Vietnam's entry into the Geneva-based trade body and the implementation of its commitments will deeply affect many aspects of the country's socio-economic life.

Members of the committee said that joining the WTO is an objective requirement during Vietnam's renewal process, and the event is a milestone in the country's international economic integration.

It is expected that the 11th National Assembly at its 10th session will debate and approve the protocol on Vietnam's WTO membership.

(Source: VNA)

Viet Nam to host APEC Week on verge of WTO entry
18:23' 03/11/2006 (GMT+7)

VietNamNet Bridge - Australia is delighted that Vietnam is hosting the APEC Economic Leaders’ Week at a time when is on the verge of World Trade Organisation (WTO) entry, Australian Ambassador Bill Tweddell has said.

Speaking at a press conference in Hanoi on Nov. 3, Ambassador Tweddell said: “ Australia is, and has always been, a strong supporter of Vietnam ’s accession to the WTO and look forward to welcoming Vietnam as a fellow member of that vital organisation.”

He also said that he strongly endorsed “the recent comments by Vietnamese Deputy Trade Minister Luong Van Tu, who said he hoped Vietnam could contribute to breaking the WTO deadlock through its chairing of APEC.”

Regarding Vietnam ’s preparations for the APEC Economic Leaders’ Week, the Australian diplomat said: “ Vietnam has performed in an exemplary fashion during its host year in 2006. Most importantly, advances have been made on various important policy fronts, and new ideas generated.”

According to Ambassador Tweddell, the advances or ideas include the Ha Noi Action Plan – a valuable plan to achieve the 1994 APEC Bogor Goals, progress in agreeing on a series of model measures for free trade agreements in the region, and the APEC and Vietnam’s reaffirmation of its strong commitment to success in the WTO Doha round of negotiations.

He also noted that the organisation of the meetings, forums and seminars has been smooth and efficient.

“As incoming host for 2007, Australia has learnt a lot from Vietnam , in both policy and organisational areas. We are most indebted to Vietnam for the patience and thoroughness they have shown in helping us learn from them,” the Ambassador said, adding that Australia hopes to be able to welcome all APEC delegates to Australia with the same warmth and hospitability that Vietnam has shown throughout this year.

He also expressed his confidence that Vietnam will seize this opportunity to show itself in the best and possible light on the global stage.

Australia is one of the APEC founding members. It hosted the first APEC Economic Ministers’ Meeting in 1989.

(Source: VNA)

WTO pushes Microsoft deal
18:43' 04/11/2006 (GMT+7)

VietNamNet Bridge - A copyright agreement between global software giant Microsoft and the government is moving closer to completion, following a rush to legalise software usage and fight piracy before the country enters the WTO.
Soạn: HA 945415 gửi đến 996 để nhận ảnh này
No imitations: state agencies are buying into real deal software

A Ministry of Post and Telematics (MPT) official said the ministry has been involved in negotiations with Microsoft for the past five months in an attempt to determine prices and limits for use of Microsoft products among all state agencies.

“We are coming to the final negotiation rounds and expect to finish up later this year,” the official said.
The statement follows the signing of a software copyright agreement between the country’s second largest state-owned commercial bank in terms of total assets, Vietcombank, Microsoft, and the country’s leading IT company, FPT.

Last week’s deal between FPT and Microsoft enables the IT company to secure licensing rights to Microsoft’s station and server software for its system of 4,500 PCs during the 2006-2009 period. FPT staff with notebooks also have the right to use these products.

The two companies have agreed to review the deal and add software licensing to FPT’s new PCs in three years time. The deal is the third one signed between the two sides, with the first signed in 2001, the second in 2005, but the latest is the largest in terms of scale.

The Ministry of Post and Telematics, meanwhile, has no concerns about FPT and Microsoft because the company is a joint stock entity and it is a local partner of Microsoft.

“The first agreement between Microsoft with a state agency in Vietnam, the Ministry of Finance, is regarded as a memorandum of understanding - it is not a deal,” said a ministry official.

Under the MoU, the Ministry of Finance has committed to purchasing perpetual licensing rights of Microsoft Office 2003 for 15,000 users over a three year period.

“We are waiting for the Vietnamese government to decide on what is the next [move] for the government of Vietnam,” said Chris Atkinson, Microsoft’s president in Southeast Asia.
By signing these agreements, clients clearly want to take a lead position in intellectual property protection in Vietnam, said Atkinson.

He said the piracy rate in Vietnam is around 90 per cent, making it the number one piracy market in the world, however, the company is optimistic with the progress it is making in copyright agreements leading up to the APEC summit.

He added that with the signing of the agreements Vietnam stood a very good chance of not being considered the country with the highest software piracy rate in the world.

“We look forward to signing many agreements with companies who wish to respect intellectual property and adopt [copyrights] as an investment standards, ” Atkinson said.

Vietcombank is the first of its kind among non-IT businesses to sign an enterprise agreement with FPT Information Systems, Microsoft’s authorised dealer in Vietnam, and Microsoft, to secure licensing rights to Microsoft Office 2003 for 4,000 users. The bank also enjoys updates of any new Microsoft Office version that the world’s leading software company will launch on the market within the next three years.

(Source: VIR)