Vietnam Business News

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• Buon Ma Thuot Coffee Association makes its debut
• Steel price surges to VND 15.7 million per tonne
• Vietnam car sales fall 18pct on year in August, down 8pct on month
• Hoang Anh Gia Lai builds its brand outside Vietnam
• Hepza gets tough on idle projects
• $900 million committed to Mekong Delta
• Travel agents stand apart 1,000th anniversary of Thang Long-Hanoi
• Planning water supplies for Hanoi
• Counting the costs of not playing with a straight bat
• Last-minute profit-taking weighs on VN-Index

Buon Ma Thuot Coffee Association makes its debut Posted: 11 Sep 2010 12:54 AM PDT On September 10, the Buon Ma Thuot Coffee Association held its first congress. The 77-member association includes 29 individuals and 48 collectives. The association is a non-profit and social organisation which represents legal people involved in coffee production, processing, business and the use of the geographical Buon Ma Thuot brand for coffee. The organisation was established to [...]

Steel price surges to VND 15.7 million per tonne Posted: 11 Sep 2010 12:53 AM PDT The steel price in HCM city rose by around VND 15.5 to 15.6 million per tonne (including VAT), an increase of VND500,000 per tonne over last week. Vietnamese enterprises have threatened to raise the prices of steel products because of the higher prices of pig iron and scrap metal in the country, but the world [...]

Vietnam car sales fall 18pct on year in August, down 8pct on month Posted: 11 Sep 2010 12:01 AM PDT Vietnam’s car sales fell 18 percent in August from a year earlier, the second straight month of decline, industry data showed Friday. Compared with the previous month, August car sales fell 8 percent, according to the Vietnam Automobile Manufacturers’ Association. A total of 8,671 cars were sold in the domestic market last month, compared with 10,555 cars [...]

Hoang Anh Gia Lai builds its brand outside Vietnam Posted: 11 Sep 2010 12:00 AM PDT The winds of change are starting to blow through south-east Asia. In the past, the differences between regional markets have been more important than the similarities, and the investment that has driven much of the region’s growth has come either from the west, or from east Asia  Japan, China and South Korea. But south-east Asian corporates [...]

Hepza gets tough on idle projects Posted: 10 Sep 2010 10:05 PM PDT The HCM City Export Processing Zone and Industrial Park Authority (Hepza) has revoked the licenses of seven investment projects with total registered capital of $23.62 million due to long delays. The projects, which were licensed by the Ministry of Planning and Investment from 1995 to 1997, include chemical producer ICP- Chemquest Joint Venture, Vietnam Scissors Co. [...]

$900 million committed to Mekong Delta Posted: 10 Sep 2010 10:04 PM PDT Foreign investors committed to pouring over $900 million into the Mekong Delta while they were attending a conference on Mekong Delta investment and development in Can Tho City on Monday. There were 10 memorandums of understanding and a letter of intent signed for 11 projects in a range of sectors such as infrastructure, energy, tourism, seafood [...]

Travel agents stand apart 1,000th anniversary of Thang Long-Hanoi Posted: 10 Sep 2010 10:03 PM PDT There is over one month to come the 1,000th anniversary of Thang Long-Hanoi and all preparations as well scenarios for the great festival have been mostly completed. However, a survey showed that travel agents stand apart the event and the efficiency in attracting tourists remains low. The Hanoi National Tourism Year with the 1,000th anniversary of [...]

Planning water supplies for Hanoi Posted: 10 Sep 2010 09:39 PM PDT The Prime Minister has asked for a plan to supply water to the capital city of Hanoi from now until 2030 with a vision for 2030. The plan will encompass the entire city, which was recently expanded to include more than 3,300km2 and about 6 million inhabitants (2008 statistics). It aims to develop water supplies in [...]

Counting the costs of not playing with a straight bat Posted: 10 Sep 2010 09:35 PM PDT What is happening with Fortuna Hanoi Hotel? The Fortuna Hanoi Hotel joint venture was established on November 29, 1994 by Thang Loi Limited Company, now Thang Loi Investment Trade and Tourism One Member State Owned Limited Liability Company, and Singapore's Chng Holdings PTE Ltd. The 30-year joint venture was licenced by the State Committee for Cooperation and [...]

Last-minute profit-taking weighs on VN-Index Posted: 10 Sep 2010 09:32 PM PDT Heavy sales in the final minutes of yesterday’s session on the HCM City Stock exchange dragged the VN-Index down to a close of 451.39 points, a decline of 2.65 per cent. The volume of trades continued modest at 52.5 million shares, totalling VND1.3 trillion (US$66.7 million), while Saigon Securities Inc (SSI) reclaimed the place as the [...]

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