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VN set to embrace mobile banking

vietnambusinesstimes -Most banking transactions in Viet Nam, around 80 per cent, will be one through mobile devices in the next five years, says Le Thanh Tam, CEO of International Data Group (IDG) ASEAN.

Tam, who is also CEO of IDG Global Solutions Vietnam and MRD Joint-stock Company, told the Vietnam Financial Times that Internet banking services will rank second behind mobile banking, while transactions using Automatic Teller Machines (ATMs) will reduce significantly in the coming years.

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US firms eye opportunities in Vietnam’s infrastructure

The US-ASEAN Business Council (USABC) has discussed with Vietnamese government infrastructureministers potential partnerships between Vietnam and major US companies to improve and expand the Southeas t Asia’s infrastructure.

The June 8-10 visit by the USABC business mission marked a continuation of discussion begun during Prime Minister Dung's April visit to the US , USBAC said in its June 9 press release.
During the business mission, which the Council has arranged annually since Vietnam joined the Association of Southeast Asian Nations in 1997, the delegation conducted meetings with key government officials as well as representatives of business and civil society.
The delegation includes senior executives from 22 leading firms co-led by USABC President Alexander Feldman and Stuart Dean of General Electric, who is also Chairman of the Council's Vietnam Committee.
"Vietnam has averaged over seven percent economic growth for the past seven years, and improving its infrastructure will help sustain this impressive record, " Feldman said, adding that "Vietnam's ambitious plans for future development require high-quality foreign investors to succeed, making US companies ideal partners in building Vietnam for the future."
"As Vietnam looks to become more export-driven, opportunities will expand significantly for companies to help upgrade Vietnam 's existing network of ports, railways, and other transportation facilities," said Stuart Dean.
"US companies are already laying the groundwork to help Vietnam take the next steps in its development, including providing technical training and skills to help Vietnam develop the human resources it will need to compete in the global marketplace," he said.
Council members are also enthusiastic about Vietnam's key position in helping to drive forward regional architecture. “As the chair of ASEAN for 2010, Vietnam has an important opportunity to keep regional goals for economic integration on track. We've been very impressed by the Vietnamese government's plans to advance ASEAN Single Window and e-customs plans,“ said Alexander Feldman.

Source: dantri

FDI in Vietnam surges, Japan leads investors


vietnambusinesstimes -Vietnam has witnessed a surge in newly registered and additional FDI in the first five months of this year. Totalling 8.51 billion USD, it was an increase of 8.9 percent over the same period last year.
The country licensed 398 FDI projects with newly-registered capital of more than 5 billion USD, and permitted 160 others to have additional capital of 3.42 billion USD, up 5.8 percent and 14 percent respectively from last year.
An estimated 4.58 billion USD from the FDI projects has been disbursed over the last five months, a 1.6 percent year-on-year increase, according to the Ministry of Planning and Investment’s Foreign Investment Agency.
The processing and manufacturing industries still top the list of 18 sectors that received foreign investment. They are seeing new and additional capital of 7.5 billion USD followed by the property, wholesale and retail sectors.
Among the projects given the go-ahead, authorities approved a plant that will be built by Samsung Electronics Vietnam to produce and assemble hi-tech electronic products with a total investment of 2 billion USD in Thai Nguyen.
Authorities allowed additional capital of 2.8 billion USD for Japan ’s Nghi Son Oil Refinery Ltd. Co. project in Thanh Hoa province.
According to the Agency, among the 40 countries and territories that have invested in Vietnam, Japan ranked first with newly-registered and additional capital of 3.6 billion USD in the reviewed period, followed by Singapore with 2.3 billion USD and Russia with one billion USD.
Northern central Thanh Hoa province led other cities in FDI attraction with 2.8 billion USD in the aforementioned time. Northern Thai Nguyen came second with over 2 billion USD and central Binh Dinh province, third, with more than 1 billion USD.-VNA
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Research | Copyrighted software promotes growth

Topic: ,

Each 1% increase in the number of copyrighted software will generate an extra US$50 million for Vietnam, says a research project conducted by the Software Alliance (BSA) in collaboration with the U.S.-based business school INSEAD.

The research, whose results were published on Tuesday, is to prove that the extensive use of copyrighted software is meaningful to the economy of a nation. It is based on the data on software production and consumption collected from 95 countries, including Vietnam among 15 Asian nations.

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Vietnam, Japan intensify strategic partnership VNTimes


vietnambusinesstimes -

Senior Japanese Government officials have said they consider Vietnamto be Japan’s important partner and hope to enhance theJapan-Vietnam strategic partnership.
JapaneseMinister of Foreign Affairs Kishida Fumio, Minister of Health, Labourand Welfare Tamura Norihisa and Minister of Education, Culture, Sports,Science and Technology Shimomura Hakubun made the remarks during theirtalks with Deputy Prime Minister Nguyen Thien Nhan in Tokyo on May24.

They pledged to support Vietnam’s socio-economic development through official development assistance (ODA).

During the talks, Nhan voiced his pleasure at the extensive andintensive development of the two countries’ cooperation and friendship.He thanked the Japanese Government and people for their great andvaluable support to Vietnam through ODA over the past 20 years, evenduring their struggle against earthquake and tsunami in 2011.

He suggested both sides strengthen cooperation to make bilateral tiesmore effective, particularly in economics, human resource development,science and technology.

Vietnam and Japan need toaccelerate the implementation of their cooperation programmes, such asthose to upgrade some of Vietnam’s universities and vocational schools,develop a coordination mechanism to ensure labour supply for Japaneseinvestors in Vietnam, and build the Vietnam-Japan Friendship Hospital inHo Chi Minh City, Nhan added.

The Deputy PM askedJapan to assist Vietnam in building and improving its capacity ofseaport operation, contributing to peace and maritime safety in Asianwaters.

On this occasion, the Deputy PM and ForeignMinister Kishida Fumio witnessed the signing of a memorandum ofunderstanding on teaching the Japanese language in Vietnam between theVietnamese Ministry of Education and Training and the Japanese ForeignMinistry.

On the same day, Nhan met with former memberof the House of Councillors Matsuda Iwao, former member of the House ofRepresentatives Koizumi Toshiaki and former Japanese Ambassador toVietnam Hattori Norio. He also met Vietnamese Embassy staff andrepresentatives of the Vietnamese community in the country.

Nhan and his entourage concluded their visit to Japan on May 25.-VNA