Review Category : Blog

Firms listed on Vietnam’s two stock exchanges in HCM City and Hanoi will be the first to be required to adopt International Financial Reporting Standards in 2020, a finance ministry official has said. The application of the international system is inevitable due to demands from the World Bank, IFC, and foreign investors. The adoption would help improve the transparency of corporate financial reporting and, thus, foreign investment, he said.

Read More →

The Securities and Exchange Commission (SEC) has agreed to nonprosecution agreements (NPAs) in two cases that both relate to alleged bribes paid to Chinese officials by foreign subsidiaries. One company, Nortek, will pay $291,403, plus $30,655 in interest, the SEC said. Some $290,000 in improper payments and gifts were made to Chinese officials by Nortek’s subsidiary “in order to receive preferential treatment, relaxed regulatory oversight, or reduced customs duties, taxes, and fees,” according to the SEC.

Read More →

If a city’s fortunes can be judged by the number of cranes dotting its landscape, Ho Chi Minh City has high hopes. Posters stuck to construction sites advertise lavish apartment blocks and landscaped shopping malls under development. A metro system, currently being built, promises comprehensive public transport at last. Change is in the air—and the city’s exceptionally youthful population, over half of whom are younger than 35, are leading the way.

Read More →

The United States is continuing to strengthen its commercial relationship with Vietnam, a rapidly-growing country that offers U.S. businesses and workers substantial opportunities for expanded trade and investment, promoting economic growth and development, and supporting jobs.  U.S.-Vietnam goods trade totaled $451 million in 1995, the year the United States and Vietnam normalized diplomatic relations, and since then has increased nearly a hundredfold to $45 billion.

Read More →

Wolverine Worldwide exemplifies a sharp shift among American footwear and garment producers away from China toward an emerging manufacturing hot spot: Vietnam. Over the past three years, the Rockford, Mich.-based maker of brands such as Keds, Hush Puppies and Saucony has more than doubled its production in the Southeast Asian nation, taking advantage of the lower labor costs there. Vietnam now constitutes nearly 30 percent of Wolverine’s output, while China’s share has fallen from 90 percent to 50 percent, company officials said.

Read More →