"¢ Foreign-invested companies that are found to have falsified reports on losses or transfer pricing may have their license revoked, Vietnam Economic Times cited the Finance Ministry as saying. It expects the number of companies reporting losses to fall to 15-20 percent this year from above 30 percent in previous years.
"¢ The Finance Ministry may quadruple an environmental fee for gold mining, and that will result in a 9 percent increase in the country's gold prices, Lao Dong newspaper said, without saying where it got the information.
"¢ Vietnam's largest asset manager, VinaCapital Investment Management Ltd., is expanding into neighboring Cambodia with a pledge to invest US$100 million and eventually launch a dedicated fund, the company said on Tuesday. Its new unit, VictoryCapital, will "invest in a broad range of sectors, including real estate, hospitality, infrastructure and agriculture," said VinaCapital.
"¢ The Finance Ministry has rejected a proposal by the Vietnam Gold Traders Association to cut the export tax on gold and gold jewelry from 10 percent to zero, Vietnam News reported without citing specific sources. The ministry told the association that the tax is needed to limit the export of precious metals and to promote natural resources conservation.
"¢ Mobifone, the nation's second-biggest mobile-phone company by subscribers, said sales surged 31.5 percent last year as new services for music and games helped it exceed a target for adding users. Sales jumped to VND36.03 trillion ($1.85 billion), the company said on Wednesday.
"¢ Vietnam's trade sector will strive to raise export revenue this year by 10 percent to $78.8 billion, control import growth at 10.7 percent and keep the annual trade deficit at no more than 18 percent of exports, Lao Dong newspaper cited Deputy Industry and Trade Minister Nguyen Nam Hai as saying.