Vietnam Business News

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• CPI unlikely to cause economic chaos in short term
• Vietnam’s rice exports see a wealth of opportunities
• Finance pact signed on poverty credit
• Viglacera builds low-cost housing in Gia Lam
• Landmark Towers sold 90% of high-grade apartments
• New rules to handle risky debt
• Milk prices climb by up to 10%
• Long An industrial parks still unoccupied
• Fashion industry fails in planning
• Law in need of overhaul

CPI unlikely to cause economic chaos in short term Posted: 01 Aug 2010 11:40 PM PDT Some economic analysts have remarked that the Consumer Price Index (CPI) remains fairly stable and is unlikely to create any problems in the near future. They predict that prices will not rise to a level that could lead to possible sudden changes. The CPI continuously easing off over the past four months has alleviated worries over [...]

Vietnam’s rice exports see a wealth of opportunities Posted: 01 Aug 2010 11:39 PM PDT Vietnam has exported 4.1 million of tonnes of rice in the past seven months, earning US$2.01 billion, down 2.5 percent in volume and 3.4 percent in value compared to the same period last year. Many customers including some from Hong Kong and mainland China have turned to Vietnamese rice instead of Thai rice, according to a [...]

Finance pact signed on poverty credit Posted: 01 Aug 2010 09:02 PM PDT The World Bank and the State Bank of Viet Nam (SBV) signed on Thursday a financing agreement and related legal documents for the Ninth Poverty Reduction Support Credit (PRSC 9) worth US$150 million. The agreement, signed by acting country director of the World Bank in Viet Nam Alain Barbu and SBV governor Nguyen Van Giau, covers [...]

Viglacera builds low-cost housing in Gia Lam Posted: 01 Aug 2010 09:01 PM PDT Viet Nam Glass and Ceramics for Construction (Viglacera) has started construction of apartments for low-income earners in Ha Noi’s Gia Lam suburban district. The VND600 billion (US$31.2 million) project will include 10 12-storey blocks of apartments, covering an area of 3ha in Dang Xa residential area, 10km east of Ha Noi. Viglacera said it would offer 1,000 [...]

Landmark Towers sold 90% of high-grade apartments Posted: 01 Aug 2010 09:01 PM PDT Keangnam-Vina Co chairman Ha Jong Suk said despite the high prices and a quiet real estate market, the Keangnam Ha Noi Landmark Towers had already sold 90 per cent of the project’s high-grade apartments. South Korea-based Keangnam Group installed the roofs on Viet Nam’s two highest residential buildings in Ha Noi late last week. Covering an area [...]

New rules to handle risky debt Posted: 01 Aug 2010 09:00 PM PDT The Prime Minister has issued a mechanism to handle risky debt at the Viet Nam Bank for Social Policies. The mechanism will replace existing measures of handling risky debt by new measures of waiving, reducing interest rates and cornering debt. From September 10, there will be new measures to reschedule and waive debts. Under the new mechanism, customers [...]

Milk prices climb by up to 10% Posted: 01 Aug 2010 09:00 PM PDT Although the Ministry of Finance has made many efforts to stabilise the market, milk prices have remained high, with another increase again in the middle of July after two rises in the first months of the year. According to agents, there has been an average 3-10 per cent increase, including a 10 per cent increase for [...]

Long An industrial parks still unoccupied Posted: 01 Aug 2010 08:59 PM PDT Most of the land in industrial parks in the Cuu Long (Mekong) Delta province of Long An has not been leased while local residents have expressed concern about the unused land, according to local news reports. More than 790ha out of 9,734ha in 23 Long An’s industrial parks, many of which are equipped with infrastructure, is [...]

Fashion industry fails in planning Posted: 01 Aug 2010 08:59 PM PDT A lack of long-term investment strategies for design, marketing and creating new styles is the basic reason why there are so few renowned fashion brands in Viet Nam, despite the country being one of the top ten leading garment and textile exporters in the world. “Businesses still depend on the kinds of materials they use and [...]

Law in need of overhaul Posted: 01 Aug 2010 08:31 PM PDT After 10 years in execution, the Law on Insurance Business should be amended to stay in compliance with Vietnam's World Trade Organization (WTO) commitments, other laws and the new context, write Vision & Associates law firm partner Luu Tien Ngoc and senior associate Pham Minh Long. The Law on Insurance Business was adopted by the National [...]

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