Foreign distributors face hurdles. On January 1, 2009, the restrictions on foreign investment in retail distribution were lifted pursuant to Viet Nam's commitments to the World Trade Organization. In reality, however, there remain a number of obstacles to foreigners seeking to invest in this sector.

Decree rolls out online business registration. The Government issued Decree No 43/2010/ND-CP on enterprise registration on April 15, replacing Decree No 88/2006/ND-CP of August 2006. The new regulation reflects more investor-friendly standards and a business registration process that uses less paper and is more transparent and accessible.

Police nab counterfeit pharmaceuticals gangs. Counterfeit pharmaceuticals pose an ongoing and serious threat to public health in Viet Nam. Lacking active ingredients, or including potentially harmful elements, their distribution is clearly a crime of the utmost severity. The discovery, investigation, prevention and prosecution of those involved in such activities have become top priorities for the authorities, with increasingly severe sanctions being handed down by the courts. Over the past two years, courts have been imposing steadily increasing criminal sentences on infringers. Recently, on March 26, a court imposed a total of 21 years and 6 months in prison on a criminal ring of six people, with ringleader Mai Cong Phu sentenced to the highest penalty of five years.

Decree governs bank bankruptcies. The bankruptcy of a credit institution greatly affects its depositors, particularly individual depositors, which in turn can have a significant broader effect upon society as a whole. The Government's recognition of this has led to the issuance of Decree No 05/2010/ND-CP in January of this year, regulating the application of the Law on Bankruptcy to credit institutions.

Counterfeit drugs challenge pharma industry. According to a 2009 report published by Business Monitoring International Ltd, there are about 57,000 pharmacies in Viet Nam, or 6.6 outlets per 1,000 people – a high figure for a developing country. But the same report shows that only 20-30 per cent of patients buy prescription medications with a prescription, despite this being unlawful.

Deposit rates fall to 12%. HA NOI — Several commercial banks have reduced deposit interest rates from last week's highs of 13-14 per cent down to 12 per cent, following the State Bank of Viet Nam's decision to inject capital into the interbank market.

Direct flight between Ha Noi-Warsaw opens. HA NOI – LOT Polish Airlines officially opened a direct flight from Warsaw to Ha Noi.

Archaeologists find prehistoric artefacts in Ha Giang cave. HA GIANG — Ancient artefacts dating back 4,000-7,000 years have been found in a cave in the northern province of Ha Giang's Bac Me District. Trinh Nang Chung, head of the excavation team, said two tombs have been excavated in the Khuoi Nang Cave.

Rice exports total $2.5 billion. HA NOI — Viet Nam has exported 6 million tonnes of rice this year, worth US$2.5 billion, reported the Viet Nam Food Association (VFA). The association said the export price of Vietnamese rice within the last two weeks increased sharply by between US$5 and $20 per tonne to $450 per tonne for 25 per cent broken rice and to $495 per tonne for 5 per cent broken rice.

Stocks fall as investors cut losses. HA NOI — Sleepy trades drove down indices for a fourth day yesterday and caused the HNX-Index to drop below its initial level of 100 points for the first time since 2008. The HNX-Index closed yesterday's session at 98.48 points, a decline of nearly 3.1 per cent.