Vietnam Business News

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• AIA signs record life insurance contract
• Experts call for new FDI strategy
• Tra Fish among US’s top ten popular seafood products
• GDP HCMC likely to increase at 12% in 2010
• Landmark August industrial figures
• PetroVietnam ready to swoop for BP operations
• Garment makers get stitched up
• Vietnam imports from Singapore rise to $2.4B in Jan-Jul
• Devaluation is seen as benign
• Northern logistics woes to ease up

AIA signs record life insurance contract Posted: 13 Sep 2010 09:30 PM PDT AIA Vietnam Life Insurance Co. Ltd. has signed a life insurance policy with the record face value of VND39 billion with a female customer in HCMC. This is the highest coverage the enterprise has signed with individual customers in the country. AIA Vietnam Life Insurance Co. Ltd. has signed a life insurance policy with the record [...]

Experts call for new FDI strategy Posted: 13 Sep 2010 09:28 PM PDT Experts have called on authorities to provide strong, clear conditions, not merely open offers for foreign investors, before granting FDI licences. The new concept in luring foreign direct investment (FDI) was prompted by the fact that a number of major FDI projects have had their licences revoked or have been liquidated and shifted to other investors [...]

Tra Fish among US’s top ten popular seafood products Posted: 13 Sep 2010 09:27 PM PDT Tra fish has become one of the US's top ten popular seafood products in 2009 for the first time, according to the Vietnamese Association of Seafood Exporters and Processors (VASEP). In the annual list of the 10 most popular seafood's, released by the US's National Fisheries Institute on September 9, tra fish ranked the 10th . Luong [...]

GDP HCMC likely to increase at 12% in 2010 Posted: 13 Sep 2010 09:26 PM PDT Total retail sales of goods and services in Ho Chi Minh City were an estimated VND236.646 trillion in the first eight months of 2010. Total retail sales of goods and services in Ho Chi Minh City were an estimated VND236.646 trillion in the first eight months of 2010. The city’s export value was around VND13.6 billion [...]

Landmark August industrial figures Posted: 13 Sep 2010 09:25 PM PDT Industrial production continued to grow this August contributing importantly to achieving the general goals for the country. Statistics by the Ministry of Industry and Trade revealed that industrial production amounted to some VND69,500 billion in August, a 1.6% increase from the previous month and a 15.2% increase from a year ago. The value for the first [...]

PetroVietnam ready to swoop for BP operations Posted: 13 Sep 2010 09:23 PM PDT PetroVietnam chairman Dinh La Thang last week confirmed that the group planned to submit a proposal to buy stakes in BP's upstream offshore projects. Vietnam and BP are involved in four projects, the Lan Tay-Lan Do gas field in Block 06.1, Nam Con Son pipeline system, Phu My 3 power plant and BP Petco lubricant joint [...]

Garment makers get stitched up Posted: 13 Sep 2010 09:22 PM PDT The majority of local apparel and textile manufacturing enterprises have already signed export contracts for the remaining months of the year, targeting to ship $10.5 billion worth of products for the entire year According to the Vietnam Textile and Garment Association (Vitas), the majority of local apparel and textile manufacturing enterprises have already signed export contracts [...]

Vietnam imports from Singapore rise to $2.4B in Jan-Jul Posted: 13 Sep 2010 09:21 PM PDT Vietnam imported $2.4 billion worth of goods from Singapore in the first seven months of this year, rising 11.6% from a year earlier, the Ministry of Industry and Trade said on its website Sept 13. Vietnam imported $2.4 billion worth of goods from Singapore in the first seven months of this year, rising 11.6% from [...]

Devaluation is seen as benign Posted: 13 Sep 2010 09:13 PM PDT Christine Shields, Standard Chartered Bank's head of country risk research, said up to January 2011, when the Party's Congress would be held, it would be difficult to make difficult economic decisions and as the new five-year plan would kick into gear in 2011, a period of consolidation was in the pipeline, and some concrete initiatives [...]

Northern logistics woes to ease up Posted: 13 Sep 2010 09:12 PM PDT Mapletree Investment Pte will break ground on northern Vietnam's largest logistic centre next week to serve the rising demands of international manufacturers setting up bases in the region. The $70 million centre will be located at the Vietnam-Singapore Township and Industrial Park (VSIP) in Bac Ninh province, about 18 kilometres northeast of Hanoi. "This is a very [...]

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