The Singapore-based Templeton Asset Management Ltd has begun operations in Vietnam after getting approval from the State Securities Commission (SSC).

The Lu Gia Mechanical Electric Company plans to earn net revenue of VND120 billion this year, a year-on-year increase of 56.4 percent, resulting in an after-tax profit of VND30 billion and allowing a dividend payment ratio of 17 percent.

US businesses want to invest in Vietnam for the long term, raising investment to a new level equal to the potential of US businesses and the US economy, said President of the US-ASEAN Business Council (USABC), Matthew Daley.

Vietnam continues to be among the list of priority countries, which will receive Swiss development aid in the 2009-2012 period, according to the Swiss Agency for Development and Cooperation (SDC).

The Vietnam Textile and Apparel Association (Vitas) has welcomed the results of the US Department of Commerce (DOC)’s second review of garment and apparel imports from Vietnam on May 6.

Ho Chi Minh City will host the 2008 Asia Trade and Investor Convention (ATIC) from May 31-June 1.

Advanced 3G technologies will be introduced at an international exhibition of telecommunications, information technology and electronics in Ho Chi Minh City from November 26-29.

Vietnam and Ukraine signed a memorandum of understanding on economic, trade and scientific and technological cooperation in Hanoi on May 7.

Vietnam’s northwestern Dien Bien province and the Lao neigbouring provinces of Luang Prapang, Oudomxai and Phongsali have reached a trade-tourism cooperation pact to 2010.

Raising official development assistance is becoming easier as Vietnam benefits from the world recognising the country’s successful management of the aid and strong socio-economic policies, says the Ministry of Planning and Investment (MPI).

PPF Vietnam, a subsidiary of the Czech Republic’s PPF Group NV, makes its debut in Ho Chi Minh City under a license from the State Bank of Vietnam.

Hanoi will host the eighth Banking Vietnam conference – the most prestigious event of the banking sector - from May 21-23.

The US Department of Commerce (DOC) announced on May 6 that after a six-month data examination it has not found enough evidence of apparel import dumping from Vietnam.

The retail price of gas for cooking has increased by VND7,000-9,000 per bottle in southern provinces. Petrolimex gas agents said this is the record rise in the domestic market since the beginning of this year as most of the gas available has had to be imported.

The Ca Mau fertilizer plant, a Vietnam-China joint venture, is a symbol of the two countries’ close friendship and economic cooperation, said Permanent Deputy Prime Minister Nguyen Sinh Hung.

The Vietnam-Laos-Cambodia Association for Economic Cooperation Development made its official debut in Hanoi on May 6.

Vietnam’s total retail turnover reached VND73.6 billion in April, a rise of 18 percent on March, said the Market Watch Bureau under the Ministry of Industry and Trade.

Vietnam’s garment export turnover reached US$2.6 billion in the first four month of this year, a rise of 24.5 percent over the same period last year.

Thirty-nine independent hydroelectric power plants (IPPs) are expected to start operation within the year, adding 396 MW to the national power grid which is under great strain by surging demands.

The Government’s domestic market management group has proposed a number of solutions aimed at curbing the soaring inflation rate and stabilising the macro economy while ensuring social welfare and sustainable development.

In the first four months of 2008, the Mekong Delta province of Dong Thap produced more than 56,000 tonnes of seafood, mainly cat fish, to earn an estimated US$58 million, up nearly 119 percent on the same period last year.

A delegation of representatives from major US corporations arrived in Vietnam on May 4 to start seeking business opportunities on a trip organised annually by the US-ASEAN Business Council (USABC).

It is necessary to identify the best way of coping with the diseases in cattle, said Deputy Prime Minister Hoang Trung Hai at a teleconference with 10 cities and provinces infected with blue ear pig disease in Hanoi on May 4.

These Groups should focus on their main activities or they will fail to become strong and competitive, said Le Quoc An, President of the Vietnam National Garment and Textile Group (Vinatex).

The Prime Minister has allowed the Vietnam Coal and Minerals Group (TKV) to establish joint stock companies with foreign investors holding a maximum 40 percent share.

The Ministry of Finance has issued guidelines on the implementation of the Government’s policy to support fishermen.

There will be no big market fluctuations in May if measures adopted by the Government continue to be put in place, according to the domestic market management group.

Two-way trade between India and Vietnam is expected to reach US$2 billion in 2008, two years ahead of the goal set in the joint statement issued nearly one year ago when the two countries established a strategic partnership.

The International Jewelry Vietnam 2008 (IJV 2008) opened in Ho Chi Minh City on May 2, drawing the participation of 100 enterprises from 15 countries around the world.

The Prime Minister has allowed the Vietnam Coal and Mineral Industry Group (TKV) to set up joint stock companies with foreign partners for bauxite-aluminium projects.