Vietnam Business News

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• Bio-tech boosts healthcare sector
• Vietnam banks expected to raise Dollar prices: Analysts
• More Vietnamese abroad send money back to their homeland
• Vietnam interbank dong falls after devaluation
• Vietnam devalues currency to boost exports as stocks approach bear market
• RoK provides ODA loans worth US$51 million
• Vinashin committee works on restructuring group
• Vietnam now has nearly 12,000 FDI projects
• Chinese firms bid low to win contracts, but performance is problematic
• Expressway developer frets over high cost

Bio-tech boosts healthcare sector Posted: 17 Aug 2010 11:38 PM PDT Viet Nam has made great progress in bio-technology and this can help improve its healthcare system, the Sai Gon Hi-Tech Park has said in a report. Viet Nam has made great progress in bio-technology and this can help improve its healthcare system, the Sai Gon Hi-Tech Park has said in a report. The report, by Dr Thai [...]

Vietnam banks expected to raise Dollar prices: Analysts Posted: 17 Aug 2010 11:37 PM PDT Vietnam's banks are expected to raise dollar prices following the SBV's move of devaluating the country's currency, the dong, by 2.09% to VND 18,932 to a dollar. Vietnam's banks are expected to raise dollar prices following the SBV's move of devaluating the country's currency, the dong, by 2.09% to VND 18,932 to a dollar, the [...]

More Vietnamese abroad send money back to their homeland Posted: 17 Aug 2010 11:36 PM PDT The billions of dollars sent to this country from overseas each year fund new homes, expand businesses and support extended families. These funds — called remittances — are a vital link between those who have left Vietnam and those left behind. And they’re becoming an increasingly popular way for Viet Kieu, or overseas Vietnamese, to invest [...]

Vietnam interbank dong falls after devaluation Posted: 17 Aug 2010 11:36 PM PDT The Vietnamese dong VND=VN eased by as much as 1.6 percent against the dollar on the interbank market on Wednesday after the central bank devalued the reference rate to help control a growing trade deficit. Bids fell to around 19,250-19,400 per U.S. dollar from 19,098 dong on Tuesday, Reuters data showed. The State Bank of Vietnam said [...]

Vietnam devalues currency to boost exports as stocks approach bear market Posted: 17 Aug 2010 11:35 PM PDT Vietnam devalued its currency for the third time since November, moving to reverse a slump in exports that helped to drive stocks close to a bear market. The dong slid to a record-low 19,425 per dollar at 9:28 a.m. in Hanoi after the central bank lowered the reference rate by 2 percent to help control a [...]

RoK provides ODA loans worth US$51 million Posted: 17 Aug 2010 10:34 PM PDT Vietnam will receive ODA loans worth UD$51 million from the Republic of Korea to implement three projects in rural areas. Under the agreements signed between the Finance Ministry and the RoK Export-Import Bank in Hanoi on August 17, the projects include a US$45 million general hospital in the northern mountainous Yen Bai province, and the provision [...]

Vinashin committee works on restructuring group Posted: 17 Aug 2010 10:34 PM PDT Permanent Deputy Prime Minister Nguyen Sinh Hung has reiterated the need to consolidate the Vietnam Shipbuilding Industry Group (Vinashin)'s operations to help the group stabilise and develop into the key component of the country's shipbuilding industry. Mr. Hung, who is also head of the steering committee for the restructuring of Vinashin Group, made the statement at [...]

Vietnam now has nearly 12,000 FDI projects Posted: 17 Aug 2010 10:33 PM PDT Vietnam has 11,807 foreign invested projects (FDI) with a total registered capital of US$188.4 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment. HCM City attracts most of the FDI projects with a total capitalization of US$28.7 billion, followed by Ba Ria-Vung Tau with nearly US$26 billion. Hanoi makes up 25.49 [...]

Chinese firms bid low to win contracts, but performance is problematic Posted: 17 Aug 2010 10:32 PM PDT Stories in Dan Tri and Thanh Nien newspapers suggest that sentiment is growing against low-cost Chinese contractors' dominance of power sector projects. Chinese contractors have been regularly winning bids to provide EPC (engineering, procurement, construction) packages in Vietnam. According to Ta Van Huong, Director of the Ministry of Industry and Trade's Energy Department, Chinese contractors are [...]

Expressway developer frets over high cost Posted: 17 Aug 2010 08:54 PM PDT The management unit of a project to build an expressway linking the central beach cities of Phan Thiet and Nha Trang is worried about the estimated cost totalling $2 billion. According to the project drawn up by a consortium of two local consulting firms, Construction Survey-Design and Consultancy and a unit of Cienco 8, the 235-kilometer [...]

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