Vietnam Business News

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• Vietnam provides electricity to Cambodia
• EVN challenges logic of developing steel exports
• Vietnam appoints new head of shipbuilding group
• Base rate status quo to boost credit
• Vietnam Money-Dollar lending rises post-devaluation
• Firms feel heat from forex changes
• Vinaphone, Viettel to launch iPhone-only packages
• City to host international food, beverage expo
• Conference promotes handicrafts trade to Japan
• Petronas makes discovery off Vietnamese coast

Vietnam provides electricity to Cambodia Posted: 31 Aug 2010 09:33 PM PDT Vietnam's National Power Transmission Corporation (NPT) and the Electricity of Cambodia (EDC) held a conference on the Chau Doc-Takeo 220kV power line from Vietnam to Cambodia in Ho Chi Minh City on August 31. At the conference, the two sides discussed issues concerning power transmission, power network connection and other technical problems between the two countries. Nguyen [...]

EVN challenges logic of developing steel exports Posted: 31 Aug 2010 09:32 PM PDT Vietnam may lack electricity for a long time to come, says Electricity of Vietnam (EVN), if the Government doesn't curb the development of steel mills. Many mills, including new ones, use obsolete, power-gobbling technologies. An EVN memorandum to the Prime Minister analyzes the steel industry's voracious demand for power and proposes that mill project developers [...]

Vietnam appoints new head of shipbuilding group Posted: 31 Aug 2010 09:26 PM PDT The Vietnamese government on Monday appointed a new acting head of the state-owned Vietnam Shipbuilding Industry Group (Vinashin), after suspending the previous head after less than two months in office for alleged mismanagement. Nguyen Quoc Anh, the company’s chief business director, it to take over from Tran Quang Vu, who was suspended Friday to allow an [...]

Base rate status quo to boost credit Posted: 31 Aug 2010 09:23 PM PDT The base rate will be maintained in September to expand credit extension lagging behind schedule. On August 25: 2010, the State Bank confirmed it would keep base interest rate unchanged at 8 percent, per year in September for the 10th consecutive month. The refinancing and rediscount. rates will remain at 8 and 6 percent, per year respectively [...]

Vietnam Money-Dollar lending rises post-devaluation Posted: 31 Aug 2010 09:22 PM PDT Companies in Vietnam may be finding it harder to repay dollar debt in the wake of its latest dong devaluation but demand for greenback loans is rising on speculation that the exchange rate will be stable in the short term, bankers said. The State Bank of Vietnam cut the interbank reference rate to 18,932 dong per [...]

Firms feel heat from forex changes Posted: 31 Aug 2010 09:22 PM PDT The State Bank’s latest exchange rate revision is tormenting many enterprises. The auto importing segment is one of many business sectors feeling the heat. Ha Thi Giang, a sales representative from Vietnam Star Automobiles Ltd Company – which distributes Mercedes-Benz cars, said the new exchange rate revision had hurt her company. “The move may affect our car sales. [...]

Vinaphone, Viettel to launch iPhone-only packages Posted: 31 Aug 2010 09:20 PM PDT Two leading iPhone providers will offerr a free microsim with their iPhone 4 package next month. The microsim has a number of advanced features and is smaller than a traditional sim. The iPhone 4 software is only compatible with a microsim. A Vinaphone representative said the company had ordered 3,000 microsims for its promotion next month. — [...]

City to host international food, beverage expo Posted: 31 Aug 2010 09:20 PM PDT Almost 190 companies from 11 countries and territories will attend the 14th international exhibition on food and beverage, which will begin in HCM City next Wednesday. The companies from mainland China, Taiwan, Japan, Korea, Australia, the US, Viet Nam, and others, will exhibit products at more than 260 booths at the HCM City International Exhibition and [...]

Conference promotes handicrafts trade to Japan Posted: 31 Aug 2010 09:19 PM PDT The National Trade Promotion Agency will co-ordinate with the Centre for Trade Promotion,Iinvestment and Tourism in Asean-Japan (AJC) and the Viet Nam Handicraft Exporters Association to hold a conference entitled “Boosting exports of Vietnamese handicraft products to Japan” in September. From the conference, 10 Vietnamese craft enterprises will be selected to take part in an exhibition [...]

Petronas makes discovery off Vietnamese coast Posted: 31 Aug 2010 09:19 PM PDT PETRONAS Carigali Overseas Sdn Bhd (PCOSB), the exploration and production arm of PETRONAS, has announced the discovery of oil and gas at the Ham Rong Oil Prospect off the coast of Hai Phong City. The discovery was made via the Ham Rong – 2X well. The well is expected to have a capacity of approximately [...]

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