Thursday, July 22, 2010

Vietnam Business News

Vietnam Business News

Vietnam Urged Firms to Boost Cement Exports to Reduce Glut

Posted: 21 Jul 2010 06:22 AM PDT

The Vietnamese Ministry of Construction has requested three cement firms to seek more export markets for their products amid the country's forecast glut of one and two million tons this year. Chinfon Cement Corporation, Nghi Son Cement Corporation and Phuc Son Cement Company were urged to export between 100,000 and 150,000 tons of cement each in [...]


Vinashin Should Transfer More Projects to Other Firms

Posted: 21 Jul 2010 06:20 AM PDT

Vinashin Business Group should hand over a number of uncompleted projects to other firms to help ease its debt burden, said Vice Chairman and General Secretary of Vietnam Association of Mechanical Industry Dao Phan Long. The shipbuilder needs to transfer its steel sheet project in Haiphong city to the Vietnam Steel Corporation, Long suggested, adding that [...]


31 Realty Projects to Put in Use in Vietnam by end-2010

Posted: 21 Jul 2010 06:19 AM PDT

As many as 31 real estate projects will be put in use in Vietnam to supply 10,000 apartments to the market from June through end-2010. The figure will help raise the total number of available apartments in the Southeast Asian country to over 20,000 this year. A large number of apartment projects will be carried out and [...]


FDI Inflows into Vietnam Rebound

Posted: 21 Jul 2010 06:18 AM PDT

Analysts said foreign direct investment (FDI) inflows into Vietnam are increasing thanks to the global economic recovery. Foreign investors came back Vietnam to resume projects which have been postponed due to their capital shortages amid global economic recession, or even start new ones, the analysts added. Earlier this year, Taiwan's Uni-President started construction of a US$140 million [...]


Vietnam Central City Attracts US$2.8B FDI Projects So Far

Posted: 21 Jul 2010 06:17 AM PDT

Vietnam's central city of Danang has attracted US$2.8 billion from a number of foreign direct investment (FDI) projects so far. Of the sum, US$2.1 billion was poured in 29 realty projects, accounting for up to 73% of the city's total pledged FDI. Virgin Island takes the lead among countries and territories making investment in the city with [...]


Vietnam Ministry Urges HAG to Seek PM OK for 2 Power Projects in Laos

Posted: 21 Jul 2010 06:17 AM PDT

The Vietnamese Ministry of Construction has urged Hoang Anh Gia Lai Joint Stock Company (HAG) to submit to prime minister for approval its plans to build two hydropower plants with a total investment of VND1.9 trillion (US$100 million) in Laos. HAG plans to build the Nam Cong 2 and Nam Cong 3 plants with a combined [...]


Vietnam Rubber Group Revenues +17% to VND5T in H1

Posted: 21 Jul 2010 06:16 AM PDT

Vietnam Rubber Industry Group, or VRG, posted total revenues of nearly VND5 trillion in the first half of 2010, up 17% on year. The increase is mostly attributed by the sharp increase of rubber prices. Rubber prices were averaging at VND55.6 million in H1, up 53% on year, the official said. VRG sold 88,754 tons of rubber in [...]


Vietnam-Russia JV to Tap First Ton of Oil in Sept

Posted: 21 Jul 2010 06:15 AM PDT

Rusvietpetro, a joint venture between the state-run Vietnam Oil and Gas Group (PetroVietnam) and Russia's Zarubezhneft, expects to pump the first ton of crude oil in September. Rusvietpetro, with PetroVietnam holding a 49% stake and Zarubezhneft 51%, will explore 13 fields in four blocks in Russia's northern Europe and the Yamal-Nenets Autonomous District. The fields have total [...]


PetroVietnam Expects 10.97M Tons of Oil Equivalent in Second Half

Posted: 21 Jul 2010 06:15 AM PDT

The state-owned Vietnam Oil and Gas Group (PetroVietnam) expects to produce 10.97 million tons of oil equivalent in the second half of this year versus its earlier target of 11.73 million tons. PetroVietnam hopes to earn revenues of VND208.119 trillion (US$10.9 billion) in H2, up against its earlier target of VND195.513 trillion. Earlier, the firm targets to [...]


Vietnam Agency Scrutinizes Border Tourism Activities

Posted: 21 Jul 2010 06:14 AM PDT

The Vietnam National Administration of Tourism (VNAT) has sent an official dispatch to departments of culture, sports and tourism, asking them to scrutinize border tourism activities. The move is followed continuous decreases in the number of international tourists coming to Vietnam through its border gates in recent times. Border tourism plays an important role in the national [...]


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