Vietnam Business News

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• SBV still retains dong basic rate at 8% pa.
• Vietnam urged to identify strategic industry
• Major export sales drop in July
• Hanoi’s real estate prices exceed real value
• Government efforts to control prices pay off
• More companies export aquatic products to Brazil
• New outbreaks of blue-ear pig disease
• Overseas Vietnamese and national cultural week launched in Hanoi
• Exports hit US$38.27 billion in 7 months
• Small banks strive to reach annual targets

SBV still retains dong basic rate at 8% pa. Posted: 27 Jul 2010 10:38 PM PDT July 27, the Vietnamese Bank Governor issued Decision No 1819/QD-NHNN of the dong basic rate. According to the decision, the dong basic rate still will be 8% pa from August 1, 2010. This will be the ninth consecutive moths that the dong basic rate is retained by SBV. The same day, SBV also had Announcement No 259/TB-NHNN [...]

Vietnam urged to identify strategic industry Posted: 27 Jul 2010 10:32 PM PDT A senior economist from Japan has advised Vietnam to identify a strategic industry that can easily develop and increase outputs once the nation's per-capita incomes rise, as part of its economic strategy. Sugiyama Hideji, Vice President of the Shokochukin Bank, made the suggestion at a symposium held in Hanoi on July 27 that aimed to share [...]

Major export sales drop in July Posted: 27 Jul 2010 10:31 PM PDT The nation's export earnings fell in July as major items were almost at a standstill. The country earned US$5.8 billion from exports in July, eight percent less than in June, after two consecutive months of increases, according to the General Statistics Office. Gems and gem products dropped from US$547 million in June to US$15 million in July. Other [...]

Hanoi’s real estate prices exceed real value Posted: 27 Jul 2010 10:31 PM PDT The development of the real estate market is not in line with the law of demand and supply and that is the main cause for high real estate prices in Hanoi. At the seminar, "Developing real estates in Hanoi: opportunities and challenges" held in Hanoi on July 27, Deputy Minister of Construction Nguyen Tran Nam said [...]

Government efforts to control prices pay off Posted: 27 Jul 2010 10:30 PM PDT The very slight increase in July's Consumer Price Index (CPI) is attributed to the government and local authorities' efforts to curb inflation, reports the General Statistics Office (GSO). According to the GSO, July's CPI is estimated to have risen by only 0.06 percent over last month, much lower than the earlier forecasts of 0.2-0.3 percent and [...]

More companies export aquatic products to Brazil Posted: 27 Jul 2010 10:30 PM PDT The number of businesses exporting aquatic products to Brazil has now increased to four, double that of 2009, said the Vietnam Association for Seafood Exporters and Producers. In the first six months of this year, Vietnam exported to Brazil 5,800 tonnes of tra fish worth about US$12 million and 18 tonnes of other fresh and frozen [...]

New outbreaks of blue-ear pig disease Posted: 27 Jul 2010 10:29 PM PDT Currently blue-ear pig disease has spread to 10 provinces and cities across the country. In recent days, new outbreaks of the disease have been reported in the provinces of Tien Giang, Bac Lieu, and Quang Nam. 8 out of 10 districts in Tien Giang claim to have culled 3,504 out of 10,300 infected pigs. Le Minh Khanh, head [...]

Overseas Vietnamese and national cultural week launched in Hanoi Posted: 27 Jul 2010 10:29 PM PDT A Buddhist Ceremony was held at the Thang Long Royal Citadel on July 28 to launch an overseas Vietnamese and national cultural week. Present at the ceremony were former Vice State President Truong My Hoa, Chairman of the State Committee for Overseas Vietnamese, Nguyen Thanh Son, senior officials from Hanoi, representatives from international organisations, hundreds of [...]

Exports hit US$38.27 billion in 7 months Posted: 27 Jul 2010 10:28 PM PDT Exports in July reached US$5.8 billion, a year-on-year increase of 20.7 percent, bringing the total export value in the last seven months to US$38.27 billion, up 17.5 percent, according to the ministries of industry and trade and finance. The commodities that saw the highest growth were chemicals (US$147 million, up 258 percent), steel (US$573 million, up [...]

Small banks strive to reach annual targets Posted: 27 Jul 2010 10:25 PM PDT Modest lending by smaller commercial banks in the first half of the year has put them under pressure to complete their annual profit targets. While many major commercial banks have posted profits equivalent to 50 per cent of their annual target, lending activities of many small banks have lagged behind, the Dau Tu (Investment) weekly reports. The [...]

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