Vietnam Business News

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• Working to put a property spin on tourism
• Should we worry when banks’ credit ratings fall?
• Brokers: Market to maintain uptrend this week
• Electricity industry: towards market-oriented mechanism
• Bank capital requirement increases begin
• Tourism human resources: mismatching supply & demand
• US$1 billion to build Can Tho-An Giang-Phnom Penh expressway
• US$5 million for international data centre
• Pesky trade deficit lingers, imported equipment blamed
• 53,000 DWT cargo ship launched in Quang Ninh

Working to put a property spin on tourism Posted: 07 Sep 2010 12:04 PM PDT Truong Thinh Group chairman Vo Minh Hoai tells VIR why real estate tourism investments are promising and how they can help boost tourism development in Quang Binh province and Vietnam. What is your assessment of Vietnam’s real estate tourism development potential? Like many other investment projects in Vietnam, real estate tourism projects can strongly develop in locations [...]

Should we worry when banks’ credit ratings fall? Posted: 07 Sep 2010 09:06 AM PDT A lot of people are troubled by recent reports that Fitch Ratings lowered the credit rating of two big banks, state-owned Vietcombank and the nation's largest private bank, Asia Commercial Bank (ACB). A top Government economist says Fitch's rating is of doubtful merit for many reasons. Tuoi Tre newspaper asked Dr. Le Xuan Nghia, a [...]

Brokers: Market to maintain uptrend this week Posted: 07 Sep 2010 09:06 AM PDT Local securities enterprises expect that the market would continue its uptrend this week after strong VN-Index rallies and high trading volumes last week. APEC Securities Co. in its weekly comment said investors might be more excited after the National Day holiday with three rising sessions last week and the VN-Index gaining 29.61 points, or 6.9%, from [...]

Electricity industry: towards market-oriented mechanism Posted: 07 Sep 2010 09:06 AM PDT "Establishing and putting into operation a competitive electricity generation market will help create a healthy environment for power companies involved in electricity generation, transmission and distribution. This is also a major reform in the electricity industry, directing it to better development," said Mr Do Huu Hao, Deputy Minister of Industry and Trade at the seminar [...]

Bank capital requirement increases begin Posted: 07 Sep 2010 09:05 AM PDT The Government is requiring that commercial banks have until December 31, 2010 to increase their chartered capital holdings to three trillion dong. Since banks do not have much time, they should issue shares to raise capital now, even though the stock market remains anemic. After plans to increase chartered capital holdings gained approval from the [...]

Tourism human resources: mismatching supply & demand Posted: 07 Sep 2010 09:05 AM PDT The Vietnamese tourism industry is still seriously short of trained human resources, though the sector has increased and expanded its training. This remark was repeated by many delegates at the National Conference on Demand-oriented Tourism Human Resources Training held in Hanoi recently. A draft Vietnam tourism development strategy for the period from now to 2020 defines the [...]

US$1 billion to build Can Tho-An Giang-Phnom Penh expressway Posted: 07 Sep 2010 09:05 AM PDT Vietnam's Ministry of Transport has called for an investment of US$1 billion to carry out construction of the Can Tho-An Giang-Phnom Penh expressway during the 2010-2014 period. The expressway will be 110km long, 35m wide and include 8 lanes for traffic travelling at designed for speeds up to 120km per hour. Deputy Minister of Transport Ngo Thinh [...]

US$5 million for international data centre Posted: 07 Sep 2010 09:05 AM PDT On September 7, TeleHouse Vietnam Datacenter Joint Venture made its debut to provide all data-related services for businesses involved in telecommunications, finance and banking. At a total cost of US$5 million, TeleHouse Vietnam is designed and equipped with systems in line with global Tele House standards. TeleHouse Vietnam General Director, Dao Vu Long said this centre will [...]

Pesky trade deficit lingers, imported equipment blamed Posted: 07 Sep 2010 09:04 AM PDT One reason for the high trade deficit is that Vietnam has maintained a high demand for imported machines and equipment, even though the Government has been offering preferences on domestic products. Several years ago, Lilama made equipment for sugar refineries and cement plants, sparking the hope that Vietnamese firms could design, produce, assemble and run machines [...]

53,000 DWT cargo ship launched in Quang Ninh Posted: 07 Sep 2010 09:04 AM PDT The Ha Long Shipbuilding Company, an affiliate of the Vietnam Shipbuilding Industry Group, launched a cargo ship in Ha Long city, the northern province of Quang Ninh, on September 6. The 53,000 DWT ship, Red Diamond HL 09, is the seventh under a deal the company has signed with the UK 's Graig group. The ship, which [...]

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