Amber enterprises ipo review

Investment, enterprise laws reviewed by NA (03-11-2005) HA NOI — The National Assembly early this week heard a series of reports on legislative work, including drafts of the long-awaited laws on investment and enterprise. Speaking at the 11th NA session, the Minister of Planning and Investment (MPI) Vo Hong Phuc affirmed that the new Enterprise Law would continue to nurture, expand and develop the rights and freedoms of the business sector. "The ask-and-give mechanism, unreasonable permits and other inconvenient procedures for enterprises will be removed, and business registration will replace the current licensing regime," Phuc said. NA approves 2006 budget The National Assembly on Tuesday passed the budget estimate resolution for next year, with overspending bound to not exceed 5 per cent of gross domestic product. The minister added that the Enterprise Law, applicable to businesses of all types, set a four year deadline for equitisation of … [Read more...] about Investment, enterprise laws reviewed by NA

State ownership at least 65% after Agribank’s IPO: Deputy PM The Saigon Times Daily Agribank headquarters is seen in Hanoi in a file photo. The State ownership will remain at least 65% at Agribank after the bank’s IPO – PHOTO: COUTERSY OF AGRIBANK HCMC – State ownership at Vietnam Bank for Agriculture and Rural Development (Agribank) will remain at approximately 65% in the upcoming period, after the bank launched its initial public offering (IPO), Giao Thong online news site reported, citing Deputy Prime Minister Vuong Dinh Hue. Deputy PM Hue confirmed the level of State ownership at a conference held on February 22 focused on developing the local stock market in 2019, saying that the prime minister earlier approved foreign ownership caps set at State-owned banks until 2025, with a vision toward 2030, in response to requests by investors to raise foreign ownership limits. The level of State ownership at State-owned commercial banks will remain at least 65% from … [Read more...] about State ownership at least 65% after Agribank’s IPO: Deputy PM

NA committee reviews draft Law on Enterprises (15-09-2005) HA NOI — Reviewing the draft Law on Enterprises, the National Assembly’s Committee of Economic Affairs and Budget has concluded that requirements for a minimum legal capital and the management ability of enterprise owners were not obligatory conditions for granting business licences. The NA committee’s conclusion follows an earlier proposal by NA deputies requiring businesses to have a minimum legal capital and professional management ability for granting business licenses. According to the law compiling committee, legal capital was a minimum amount enterprises required to start businesses. However, it was difficult to enforce this condition for scientific and practical reasons. It fails to protect the benefits of creditors and relevant agencies or prevent those who are ineligible from establishing enterprises, the committee concluded. Moreover, the requirement results in confusing businesses or leads to … [Read more...] about NA committee reviews draft Law on Enterprises

11th NA reviews missions, maps out plans for next 5-year tenure (21-03-2007) Deputies gather at the last meeting of the 11th National Assembly in Ha Noi. — VNA/VNS Photo Nguyen Dan HA NOI — The last meeting of the 11th National Assembly (NA) opened yesterday in Ba Dinh Hall to review its work over the past five years and draw lessons for the incoming 12th NA, which will take over after general elections in May. The opening ceremony gathered the country’s leaders, including General Secretary Nong Duc Manh, President Nguyen Minh Triet and Prime Minister Nguyen Tan Dung, as well as former general secretaries, presidents and prime ministers and almost 500 deputies. At the opening ceremony of the 11th and final meeting, NA Chairman Nguyen Phu Trong said that most of the session would be spent on reviewing the 11th NA’s achievements and shortcomings, as well as lessons learned from projects undertaken in the past five years. Proposing reforms for the 12th NA … [Read more...] about 11th NA reviews missions, maps out plans for next 5-year tenure

Unified Enterprise Law under scrutiny (29-07-2005) HA NOI — The proposed changes to the unified Enterprise Law, now before the National Assembly Standing Committee, were put into doubt by Vice Chairman Nguyen Van Yeu yesterday. Yeu said he was confused about the changes during discussion of a preliminary report by the Economic Budgetary Committee. Attending a meeting of the NA’s Standing Committee to review both the unified Enterprise Law and the common Investment Law, he asked Planning and Investment Minister Vo Hong Phuc why the draft had dealt mostly with the regulation of non-State business when the law itself was supposed to apply to all kinds of enterprises. In reply, Phuc said the difficulty was in the pace of the equitisation of existing SOEs. "According to the plan this process will be completed in three years after the law comes into effect (later this year)," Phuc said. "SOEs will be subject to the new law after being converted to other … [Read more...] about Unified Enterprise Law under scrutiny

Parliamentary review of year used to plan for 2010 period (19-10-2005) National Assembly Chairman Nguyen Van An delivers opening speech at the session. — VNA/VNS Photo Dung Sang Son La Hydroelectric Power Plant on the Da River under construction in the northern mountainous province of Son La. — VNA/VNS Photo Xuan Truong Nation expects record growth Viet Nam this year expects to attain its highest growth rate during the past five years, Khai said in his report at the eight session of the National Assembly yesterday. The collective economic sector has gradually overcome difficulties, and seen positive changes, while the private sector has attained impressive growth rates. Trading and services have also made important contributions to the country’s socio-economic achievements, to job generation and poverty reduction in particular. The foreign-invested sector has reported satisfactory development, making more contributions to the … [Read more...] about Parliamentary review of year used to plan for 2010 period

Politburo orders review of security at foreign-invested projects The Saigon Times Daily Employees work at a foreign-invested factory. The Politburo has ordered a review of security at foreign-invested projects - PHOTO: VNA HCMC – In its newly issued resolution, the Politburo orders a review of security at foreign-invested projects in the country as part of a plan aimed at improving the quality of foreign investment. Over the past 30 years, foreign-invested enterprises have grown significantly, contributing greatly to the country’s socioeconomic development, Thanh Nien newspaper reported. Many multinational corporations with advanced technology have entered the country, creating more jobs for locals, improving local production capacity and increasing State budget revenue. However, the attraction and management of foreign investment have also had shortcomings, such as gaps between policies and development requirements, ineffective preferential policies, an … [Read more...] about Politburo orders review of security at foreign-invested projects

National Assembly committee reviews sovereignty issues (28-09-2006) HA NOI — The National Assembly’s Standing Committee has made headway on several important issues this week, including Viet Nam’s territorial waters, which were on the agenda yesterday afternoon. Members agreed that as a signatory to the 1982 UN Convention on the law of the sea, Viet Nam must reflect all the provisions of that Convention in its new law, in accordance with the Government and Party’s policies and guidelines. This would protect the sovereignty and territorial waters of the motherland. Once approved, the law could be used by Viet Nam to exercise sovereignty and arbitration rights over its waters and islands, including the Truong Sa (Spratlys) and Hoang Sa (Paracels) archipelagos. The NA Standing Committee asked the drafting committee to make changes to clause 2, Article 3 of the law, to say "the law will prevail over other laws relating to Viet Nam’s sovereignty over its territorial … [Read more...] about National Assembly committee reviews sovereignty issues

National Assembly (NA) deputies on Wednesday agreed that it is necessary to make amendments to the Law on Trade Unions to better protect labourers working for private enterprises. — VNA/VNS Photo Phương Hoa HÀ NỘI — National Assembly (NA) deputies on Wednesday agreed that it is necessary to make amendments to the Law on Trade Unions to better protect labourers working for private enterprises. Deputy Phạm Minh Chính from Quảng Ninh Province said the number of private enterprises has increased, meaning the number of labourers working for the private sector is now higher than that of the State-owned sector. The current Law on Trade Unions focuses on protecting rights of State-owned enterprise labourers, but not so much for private sector labourers. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP) signed by Việt Nam and ten other countries allows labourers to establish their own organisations, which means trade unions will no … [Read more...] about NA reviews law on unions, education

Enterprise law needs fine-tuning (07-03-2005) HA NOI — The much-awaited unified Enterprise Law needs further modifications in order to get rid of administrative snags and create a truly level playing field for all businesses, said a conference organised to review the latest draft of the law. Representatives at the conference last Friday, which included members of Viet Nam’s business community and lawyers, acknowledged that the law would create a breakthrough in the country’s business environment. Director of the Trans-Pacific Service Company, Nguyen Minh Phu said the unified law would be a big step for all economic sectors to get on an even keel. "The draft law complies with international rules on business administration, and has satisfied all the demands of the country’s development process," Nguyen Dinh Cung, a member of the committee which drafted the law, said. The law, which merges existing laws, including the State-owned Enterprises (SOEs) Law, Foreign … [Read more...] about Enterprise law needs fine-tuning