Tuesday, August 31, 2010

Vietnam Business News

Vietnam Business News

Vietnam earns US$44.5 bil in export turnover

Posted: 31 Aug 2010 12:50 AM PDT

The country's export turnover has reached more than US$44.5 billion over the past eight months, up 19.7 percent against the same period last year, according to the Vietnam General Department of Customs. Of this figure, foreign-invested businesses earned over US$17.6 billion, up 40 percent. Many groups of export items posted a high growth such as garments and [...]


Hanoi Expo 2010 opens in Hanoi

Posted: 31 Aug 2010 12:49 AM PDT

The 2010 Hanoi International Expo opened in Hanoi on August 30, with a total of 800 stands put up by 400 Vietnamese and foreign organisations and businesses from industrial, agricultural, cosmetics and electronics sectors. Present at the opening ceremony were Vice Chairman of the National Assembly, Uong Chu Luu, Deputy Prime Minister Pham Gia Khiem, Secretary [...]


Vietnam takes second place in beer consumption in SEA

Posted: 30 Aug 2010 10:26 PM PDT

Vietnam's is one of the fastest developing beer markets in Southeast Asia with 1.6 billion liters sold in 2009, 56 percent more than 2004. Vietnam now ranks second after Cambodia in beer consumption in Southeast Asia. According to a global market research company, Euromonitor International, the Vietnamese beer market will continue to grow at 5.6 percent in [...]


$1.2b for highway construction

Posted: 30 Aug 2010 10:25 PM PDT

The Ministry of Transport has urged ADB, Australia and South Korea to fund construction of Mekong delta centre-linking highway at total cost of $1.2 billion. The proposal was discussed last week at a conference between Vietnam government Agencies and the investors in Hanoi. According to Duong Tuan Minh, director manager of My Thuan project management, foreign investors [...]


$4.5b invested in Mui Dinh high-class tourism area

Posted: 30 Aug 2010 10:24 PM PDT

Ninh Thuan province Department of Planning and Investment has lately sought for approval from Ministry of Construction for establishing the Polo Beach International Co Ltd. After consideration, ministry of construction has issued document No 1588/BXD-HDXD in which the ministry agreed to grant the investment license for Mui Dinh high-class tourism area project. The new tourism area project [...]


Vietnam banks under pressure to raise statutory capital

Posted: 30 Aug 2010 10:20 PM PDT

With deadline approaching fast, Vietnam banks are now under heavier pressure to raise statutory capital to satisfy the State Bank of Vietnam (SBV) or the central bank’s minimum legal capital roadmap to three trillion dong by the end of this year. Till now, there are many commercial banks that have received a go-ahead from the central [...]


BIDV to merge two finance leasing firms

Posted: 30 Aug 2010 10:18 PM PDT

The Bank for Investment and Development of Vietnam (BIDV) has sought State Bank of Vietnam’s approval for merging the two finance leasing companies of BLC and BLC2 into BIDV Finance Leasing one-member Co Ltd The bank will hold 100 percent of ownership capital. The new company has initial chartered capital of 350 billion dong with head [...]


HCM City outstanding loans estimated at 620 tr dong: SBV

Posted: 30 Aug 2010 10:18 PM PDT

The State Bank of Vietnam (SBV)- HCM City Branch has reported on its website that outstanding loans of commercial banks in the city by the end of August reached 620 trillion dong. According to SBV’s report, it is worth mentioning that the real estate lending of commercial banks was estimated to have reached 92.864 trillion dong, [...]


Largest brewery in southeast Asia inaugurates

Posted: 30 Aug 2010 10:15 PM PDT

Hanoi Beer Alcohol and Beverage Joint Stock Corp (Habeco) has officially put into operation the Hanoi-Me Linh Brewery located in Tien Phong Commune, Me Linh Dist, Hanoi. The project was carried out by Habeco as the main investor. The brewery was sited in an area of over 26 hectares with total investment capital of 2.2 trillion [...]


Cement consumption volume soars in August

Posted: 30 Aug 2010 10:14 PM PDT

Ministry of Construction has reported that the country’s cement consumption volume in August reported a fairly high increase over last month, estimated at about 4.51 million tonnes and 32.5 million tonnes in first eight months, equal to 65 percent of the year plan. Industrial production and building materials value of construction sectors estimated gaining 4.4105 trillion [...]


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