The Ministry of Industry and Trade announced last week that it would soon amend Circular 09’s regulations on the import rights of foreign direct investment (FDI) enterprises, to meet Vietnam’s World Trade Organization commitments.

US-based Gannon Vietnam’s ambitious plan to build a $200-million, 600-megawatt gas-fueled power plant in southern Dong Nai Province might not become a reality unless the developer can find sufficient gas supplies to fuel the future plant.

Two giant State-owned commercial banks have been urged to accelerate their equitisation process in order to raise their competitive edges as the country prepares to join the World Trade Organisation.

Foreign credit institutions may be allowed to acquire shares in up to two joint stock commercial banks and up to a maximum 20 per cent of a joint stock bank’s chartered capital, according to the latest draft decree on foreign credit institutions buying shares in local banks.