Vietnam Business News

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• Robust action to defend Vietnam Tra exports
• Vietnam tourism benefits from misfortunes
• Banks prioritize exporters
• Vietnamese Finance, 65 years of success
• Interview: Douglas Clayton on investing in Vietnam
• Vietnam oil and gas report Q4 2010
• New property rules an eyesore for developers
• OCB cancels selling 5% stake to new foreign partners
• Metro Cash & Carry opens wholesale center in An Giang
• Vietnam rice reserves to underpin exports

Robust action to defend Vietnam Tra exports Posted: 05 Sep 2010 11:56 PM PDT Vietnam is about to take official action against foreign misinformation about one of its billion-dollar export items. "We have submitted a proposal to the Ministry of Agriculture and Rural Development (MARD), which will then combine with relevant ministries and agencies to send official proposals to Brazil's Ministry of Agriculture and relevant agencies asking them to correct [...]

Vietnam tourism benefits from misfortunes Posted: 05 Sep 2010 11:56 PM PDT Vietnam's tourism industry has reaped unexpected windfalls thanks to insecurity in competing neighbouring destinations. The unstable situation in the Philippines and Thailand have caught the headlines and scared off dozens of travelers. The violent ending of the kidnap drama in Manila has seriously damaged the country's image, with protests in Hong Kong after Chinese tourists' lives [...]

Banks prioritize exporters Posted: 05 Sep 2010 11:48 PM PDT Many banks have lowered interest rates on preferred loans for export businesses to 11-12.5 percent annually to develop credit and follow the government’s export prioritization policy. VietinBank started the trend by providing VND30 trillion in loans for export businesses at an interest rate of 11 percent annually, a 1.5 percent drop in the bank’s standard rate. [...]

Vietnamese Finance, 65 years of success Posted: 05 Sep 2010 11:47 PM PDT The Ministry of Finance celebrated its traditional day and 65th foundation anniversary on August 28 at the National Convention Center in Hanoi. The Vietnamese financial sector was founded on August 28, 1945 – the day on which the provisional revolutionary government of the Democratic Republic of Vietnam was established. The Prime Minister decided that August 28 [...]

Interview: Douglas Clayton on investing in Vietnam Posted: 05 Sep 2010 08:58 PM PDT Douglas Clayton, chief executive officer of private equity fund manager Leopard Capital, focuses on investing in the ‘frontier markets.’ Douglas Clayton, chief executive officer of private equity fund manager Leopard Capital, focuses on investing in the ‘frontier markets.’ He has already established funds that invest in Cambodia and Laos, and is also planning new fund ventures [...]

Vietnam oil and gas report Q4 2010 Posted: 05 Sep 2010 08:56 PM PDT The latest Vietnam Oil & Gas Report from BMI forecasts that the country will account for 1.52% of Asia Pacific regional oil demand by 2014, while providing 4.19% of supply. The latest Vietnam Oil & Gas Report from BMI forecasts that the country will account for 1.52% of Asia Pacific regional oil demand by 2014, while [...]

New property rules an eyesore for developers Posted: 05 Sep 2010 08:54 PM PDT The mobilisation of capital to build residential projects via capital contribution contracts is raising questions from developers. Article 9 of Decree 71/2010/ND-CP dated June 23, 2010 allows developers to mobilise capital from banks, non-banking institutions, investment funds and corporate bonds. The decree guides the implementation of the Law on Housing Accordingly, primary developers can transfer parts of [...]

OCB cancels selling 5% stake to new foreign partners Posted: 05 Sep 2010 08:53 PM PDT The Orient Commercial Bank (OCB) will cancel selling a 5% stake to its new foreign partners, adjusting its plan of raising charter capital to VND3.1 trillion from current VND2 trillion as approved by the annual shareholders' meeting on July 12. The Orient Commercial Bank (OCB) will cancel selling a 5% stake to its new foreign partners, [...]

Metro Cash & Carry opens wholesale center in An Giang Posted: 05 Sep 2010 08:52 PM PDT German-invested wholesale chain operator Metro Cash & Carry opened a wholesales center in An Giang Province last week, the second wholesales store in the Mekong Delta by the group after the first one in Can Tho City. The new center in Long Xuyen City brings to ten the number of its wholesale facilities nationwide, including three [...]

Vietnam rice reserves to underpin exports Posted: 05 Sep 2010 08:51 PM PDT Despite a sharp increase in the volume of rice exports in the past two months, Viet Nam still has an adequate reserve of rice for export until the year-end. In August, Viet Nam exported 813,000 tonnes of rice, attaining a turnover of US$320 million, much higher than 460,000 tonnes exported in August last year. The figures were [...]

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