Vietnam Business News

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• State Auditor seeks global co-operation
• US fund focuses on new IT portfolio
• Singapore tourism gets new tag line
• VN firms to attend property fair
• Ha Noi goods, services up 37%
• Sound, vision expo opens in HCM City
• Growth targets ‘are achievable’
• VN-Index slumps on Fed news
• New decree aims to control shady real-estate practices
• Steel prices track global rise

State Auditor seeks global co-operation Posted: 22 Jul 2010 09:25 PM PDT Co-operation between the State Audit of Viet Nam (SAV) and international agencies was discussed at a workshop in Ha Noi yesterday. Nguyen Trong Thuy, director of the SAV’s International Relations Department, said the agency planned to seek the assistance of auditing bodies in developed countries with its 2020 Development Strategy, Attending the workshop were representatives from embassies, [...]

US fund focuses on new IT portfolio Posted: 22 Jul 2010 09:25 PM PDT The US-headquartered International Data Group, or IDG, plans to create two venture-capital funds that will invest in the IT sector by 2012, according to its chief. Founder and chairman Patrick J McGovern told the media while attending a recent press briefing on an IT, telecommunication, and electronics exhibition in Ha Noi that they would have a [...]

Singapore tourism gets new tag line Posted: 22 Jul 2010 09:24 PM PDT The Singapore Tourism Board in Viet Nam has unveiled a new tag line “Your Singapore” in place of the previous tag “Uniquely Singapore”. Its website, www.yoursingapore.com, enables travellers to conceptualise and plan their Singapore travel itinerary and also share their experiences. The board has also finished one of its leading lifestyle websites, 24h.com.vn, that provides the Vietnamese [...]

VN firms to attend property fair Posted: 22 Jul 2010 09:24 PM PDT Thirty Vietnamese companies are expected to attend the fifth annual Asia-Pacific property convention, which will be held in Hong Kong from November 10-12. The three-day “MIPIM Asia 2010″ will bring together the world’s leading real estate players, including international investors, corporate end-users, hotel groups and retailers seeking new business opportunities and partnerships in the Asia Pacific [...]

Ha Noi goods, services up 37% Posted: 22 Jul 2010 09:23 PM PDT The total sale of goods and services in July in Ha Noi is expected to hit VND71.15 trillion (US$3.7 billion), which represents an increase of 37 per cent over the same period last year, reports the Ha Noi Industry and Trade Department. Retail sales earned VND16.7 trillion ($878 million), which is a year-on-year increase of 29 [...]

Sound, vision expo opens in HCM City Posted: 22 Jul 2010 09:22 PM PDT The PALME Viet Nam 2010 exhibition opened in HCM City yesterday offering the latest in professional audio, visual, lighting, broadcast, systems integration and entertainment technologies. Speaking at the opening ceremony, the deputy Minister of Culture, Sports and Tourism, Tran Chien Thang, said it was the first exhibition of its kind in Viet Nam. Timely show About 200 companies [...]

Growth targets ‘are achievable’ Posted: 22 Jul 2010 09:21 PM PDT Key national economic targets set for this year – a gross domestic product (GDP) growth of 6.5 per cent, inflation below 8 per cent and macro-economic stability – were achievable, a senior official said yesterday. Le Duc Thuy, chairman of the National Financial Supervisory Committee, said at an investment conference in HCM City that the economy [...]

VN-Index slumps on Fed news Posted: 22 Jul 2010 09:20 PM PDT Comments by the head of the US Federal Reserve encouraged local investors to continue profit-taking yesterday, resulting in the VN-Index slipping 1.01 per cent to close at 500.28. On Wednesday, Fed boss Ben Bernanke described the US economic outlook as “unusually uncertain,” but gave no indication as to what the central bank would do to improve [...]

New decree aims to control shady real-estate practices Posted: 22 Jul 2010 09:20 PM PDT A new decree more strictly regulates how developers of housing projects can raise capital and is expected to shine a light on fraudulent practices. Undercapitalised and less-than-reputable developers have long exploited the practice of selling unfishished units to buyers to cash out of and walk away from projects, leaving the home buyer holding the bag. The Law [...]

Steel prices track global rise Posted: 22 Jul 2010 09:19 PM PDT After a period of decline, the domestic steel price increased in July by VND600,000 – VND700,000 per tonne to VND14 million – VND14.5 million ($736 – $762). Nguyen Tien Nghi, deputy chairman of the Viet Nam Steel Association (VSA), said the rise was due to the increasing price of steel ingots on the world market, which [...]

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