Vietnam Business News

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• India urged to invest in drugs companies
• Dairy firms push up prices while they can
• Brickmakers wait for better months
• VNPT increases Maritime Bank stake
• Seafood exports rise 13% in eight months
• HCM City needs East-West balance
• Tunnel nears completion
• Provinces to report on foreign investment
• Manulife Viet Nam reports profits
• Vietnam Airlines discounts prices

India urged to invest in drugs companies Posted: 06 Sep 2010 09:00 PM PDT Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned pharmaceutical enterprises to pour more investment in the local pharmaceutical industry. During yesterday’s seminar on prospects of the industry, Quang said he had told the Indian Business Chamber in Viet Nam (INCHAM) that Indian companies had provided drugs of high quality, safety and efficacy at reasonable [...]

Dairy firms push up prices while they can Posted: 06 Sep 2010 08:59 PM PDT Dairy consumers have been angered as some producers jump to increase their prices before a new pricing law takes effect next month. Under Circular No 122 that applies from October 1, dairy firms must register the price of milk for infants under six with the Ministry of Finance’s Price Management Department or the provincial departments of [...]

Brickmakers wait for better months Posted: 06 Sep 2010 08:59 PM PDT The brick making industry experienced a poor start to the year, with around 15 listed companies reporting year-on-year profit drops in the first six months. Their hopes are pinned on the upcoming “construction season”, which they hope to reverse their fortunes in the final quarter. As usual, the construction season will see the demand and prices [...]

VNPT increases Maritime Bank stake Posted: 06 Sep 2010 08:58 PM PDT State-owned telecommunications giant Viet Nam Post and Telecommunications Group (VNPT) received Government approval to increase its ownership at Maritime Bank to 19.3 per cent, or 96.6 million shares from 91.97 million shares late last night. The rise in stake is part of Maritime Bank’s charter capital increase from VND3 trillion (US$153.84 million) to VND5 trillion ($256.41 [...]

Seafood exports rise 13% in eight months Posted: 06 Sep 2010 08:58 PM PDT Seafood exports totalled US$2.9 billion in the first eight months of this year, an increase of 13 per cent compared to the same period a year earlier, according to the Ministry of Agriculture and Rural Development. Shimp and tra catfish saw the greatest growth in both volume and value, the ministry said, with shrimp exports rising [...]

HCM City needs East-West balance Posted: 06 Sep 2010 08:57 PM PDT HCM City needs to create a master plan that balances real-estate growth in the eastern and western parts of the city, according to Singaporean experts. Commenting on the city’s development plan to 2020 in a recent meeting with city authorities, James Chew of the Singaporean Planning Institute said most real estate projects had been focused in [...]

Tunnel nears completion Posted: 06 Sep 2010 08:57 PM PDT More than 80 per cent of the construction work on the Thu Thiem Tunnel has been finished, according to Luong Minh Phuc, head of the East – West Highway and Water Environment Project Management Board. Phuc informed city leaders about the project progress as they visited the construction site on Sunday. On the same day, Japanese contractor [...]

Provinces to report on foreign investment Posted: 06 Sep 2010 08:55 PM PDT As from September 10 provinces and cities nationwide will have to make regular reports on foreign direct investment (FDI) in their jurisdiction, according to an official of the Ministry of Planning and Investment (MPI). The FDI reports, which would provide the government with more accurate information on FDI activities nationwide, would be submitted to MPI, said [...]

Manulife Viet Nam reports profits Posted: 06 Sep 2010 08:47 PM PDT Manulife Viet Nam continued to experience significant sales growth in the second quarter of this year, reaching VND195 billion (US$10 million). The growth represents an increase of 46 per cent in comparison with the same period last year. Total premiums and deposits rose to VND666.4 billion in the first half of the year, an increase of 18 [...]

Vietnam Airlines discounts prices Posted: 06 Sep 2010 08:46 PM PDT Vietnam Airlines plans to discount air tickets on domestic flights by up to 50 per cent. Single tickets will cost between VND400,000 (US$20.51) and VND860,000 ($41.10) per flight, not including taxes and other fees. The promotion runs from September 9 to October 30.

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