Vietnam Business News

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• HCM City two-per cent plan saves power since January
• Government orders check on Guang Lian steel project
• VW making inroads into Asean via Vietnam
• Generali to go ahead with Vietnam expansion, Geronzi says
• Markets stop losing streak
• Shoe exports stride towards lucrative year
• Ship builder to catch-up on building tanker
• Not so easy for home developers
• Vietnam 2010 exports to beat 6 pct govt target – Report
• Navibank plans 100m share listing in Hanoi

HCM City two-per cent plan saves power since January Posted: 26 Aug 2010 09:04 PM PDT HCM City has exceeded its target for energy savings for the first seven months of the year, according to the HCM City Power Corporation. To do so, the corporation worked with the HCM City Export Processing and Industrial Zones Authority, which encouraged companies to save 2 per cent of their energy consumption demands during the peak [...]

Government orders check on Guang Lian steel project Posted: 26 Aug 2010 08:47 PM PDT Deputy prime minister Hoang Trung Hai has told the Ministry of Industry and Trade to check the ability of mobilising investment capital for Guang Lian Dung Quat steel project. The order comes after the project developer proposed expanding the designed production capacity from five million to seven million tonnes a year. According to a document issued by [...]

VW making inroads into Asean via Vietnam Posted: 26 Aug 2010 08:46 PM PDT Europe’s biggest carmaker, Volkswagen AG (VW), is eyeing the Asean market. It had set its sights on South-East Asia but past efforts were not successful as it failed to establish a strategic partnership with Malaysian carmaker, Proton Holdings Bhd. After several failed rounds of negotiations with Proton, VW recently signed a deal with DRB-HICOM Bhd and is [...]

Generali to go ahead with Vietnam expansion, Geronzi says Posted: 26 Aug 2010 08:46 PM PDT Assicurazioni generali SpA, Italy’s biggest insurer, will go ahead with plans to expand into Vietnam, Chair Cesare Geronzi said. The Vietnamese government approved generali’s request to open a representative office in the capitol of Hanoi a year ago. The license is due to be issued this year, the company said at the time.

Markets stop losing streak Posted: 26 Aug 2010 08:00 PM PDT Shares regained a little lost ground on both national stock exchanges yesterday after three days of steep declines, helped by an overnight recovery on Wall Street. The gains were achieved despite the State Bank of Viet Nam’s announcement late Wednesday that it would keep the prime interest rate at 8 per cent for the month of [...]

Shoe exports stride towards lucrative year Posted: 26 Aug 2010 08:00 PM PDT Domestic shoemakers expect to export goods worth US$5.4 billion by the year-end, industry leaders say. Nguyen Duc Thuan, chairman of the Viet Nam Leather and Footwear Association (Lefaso) said at a press conference last week that more than 500 leather-shoe makers were confident that the industry’s export value would reach record figures this year. The confidence was [...]

Ship builder to catch-up on building tanker Posted: 26 Aug 2010 07:59 PM PDT Dung Quat Shipyard Company plans to continue construction of 104,000-DWT and 105,000-DWT oil tankers after a prolonged delay caused by financial difficulties, according to the chairman of the company’s board. Nguyen Van Hoi said the 104,000-DWT oil tanker was expected to be handed over to Vinashin Vien Duong Transport General Co in April next year. The 105,000-DWT [...]

Not so easy for home developers Posted: 26 Aug 2010 07:58 PM PDT Developers of luxury apartment projects have had to shift their sales strategies in face of flagging demand, said real estate consulting and services firm Savills Viet Nam. Prior to the financial crisis, developers could sell units without much effort due to soaring demand, but they now had to turn to sales promotion programmes to turn over [...]

Vietnam 2010 exports to beat 6 pct govt target – Report Posted: 26 Aug 2010 03:23 PM PDT Vietnam’s exports could rise 18.2 % to $67.5 billion this year, beating a government growth target of more than 6 %, a state-run newspaper reported on Wednesday. Vietnam’s exports could rise 18.2 % to $67.5 billion this year, beating a government growth target of more than 6 %, a state-run newspaper reported on Wednesday. Vietnam’s exports between [...]

Navibank plans 100m share listing in Hanoi Posted: 26 Aug 2010 01:00 PM PDT Nam Viet Commercial Joint-Stock Bank, the Vietnamese lender known as Navibank, plans to list 100 million shares on the Hanoi Stock Exchange as early as next month, Chair Nguyen Vinh Tho said. Navibank had planned to list shares on the Hanoi bourse in late June, Dau Tu Chung Khoan magazine reported April 16, citing Chief Executive [...]

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