New labelling laws for Vietnam

Business Asia, Sept 30, 1999

* Hanoi -- All goods sold on Vietnam's domestic market will have to be labelled in Vietnamese by early next year, according to a new regulation issued by Prime Minister Phan Van Khai. Labels must include, where applicable, trade names, names and addresses of suppliers, ingredients, net weight date of manufacture, expiry date, storage instructions, usage instructions and the country of manufacture. The regulations will take effect six months from August 30, 1999. -- Asia Pulse

* Singapore -- Singapore is abolishing the limit on foreign ownership for Internet service providers from 49 per cent in a bid to draw more international players. The move is expected to rekindle interest among global companies which are keen on entering the burgeoning Singapore Internet market. -- Bloomberg

* Seoul -- South Korea will open its third stock market as early as December, paving the way for transactions of all unlisted and non-member firms. Transactions can be made directly when quotes coincide via computer systems or phones without the help of a broker or agent. -- Asia Pulse

* Manila -- The Philippine Stock Exchange will extend trading hours, a move it expects will boost daily turnover and allow foreign money managers more time to invest. Starting October 4, stocks will trade between 2pm and 3.30pm after a two-hour break Trading in the morning will remain the same from 9.30am to noon. -- Bloomberg

* Sydney -- Hitachi Australia Ltd last month announced details of a major marketing campaign through to the end of 2000 in partnership with Aorta Advertising of Sydney. Hitachi plans to invest in a bold and aggressive campaign kicking off in October this year. According to managing director of Hitachi Australia Jiro Katsura, the campaign will focus on multimedia and consumer products where Hitachi has a clear digital technology edge including CRT, Super-TFT and plasma display products.

* Beijing -- China is planning a number of new incentives to attract foreign investment, Chinese local media reported, quoting assistant minister of foreign trade Ma Xiuhong. The new measures include preferential policies and tax exemptions for hi-tech companies importing equipment. -- Bloomberg

* Manila -- The Philippines government is fast-tracking the completion of the Light Rail Transit (LRT) Line 2 project that will link the cities of Manila, Quezon and Marikina, said Secretary Vicente Rivera Jr of the Department of Transportation and Communication (DOTC). He said the project might be completed by late 2001. -- Asia Pulse

* Hanoi -- Vietnam licensed another six investment projects with a total capital of US$7.5 million to operate abroad in the first eight months of this year, the Ministry of Planning and Investment said. Two of the projects were in Laos, two in Cambodia, one in Singapore and another in Russia. Almost all the projects are involved in trading. -- Asia Pulse

* Sydney -- Leighton Asia Limited, in a joint venture with Rail Services Australia (RSA), has been awarded a HK$750 million (US$96.38 million) rail trackwork contract in Hong Kong. Leighton's share is HK$600 million (US$77.10 million). The contract involves the detailed design and installation of about 54km of trackwork from Nam Cheong station to Kam Sheung Road station, linking the North West New Territories with urban Kowloon. Construction will start immediately and is scheduled for completion in October 2003. -- Asia Pulse