Vietnam Business News

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• Sacomreal becomes main investor in sport and residential complex project
• Two bourses increases slightly, transactions remain low
• Renault car showroom inaugurates in Hanoi
• Vietinbank offers CoDs with floating interest rates
• Interest rate rise by 1.64pct on interbank market
• Vietnam small banks likely to achieve profit targets
• Balance of payment may run $4b deficit
• Vietnam Vicem sells 11.58M tons of cement, clinker in Jan-Aug
• Vietnam follows WTO price policy: Ministry
• Commercial arbitration law: approaching international standards

Sacomreal becomes main investor in sport and residential complex project Posted: 16 Sep 2010 01:10 AM PDT HCM City People’s Committee has lately approved the construction plan of Tan Thang sport complex and residential quarter that will be located in Son Ky Ward, Tan Phu Dist, HCM City. The project is sited in an area of 93 hectares, of which 26 hectares will be spent for residential quarter, 30 hectares of green parks [...]

Two bourses increases slightly, transactions remain low Posted: 16 Sep 2010 01:09 AM PDT The two stock markets marked their recovery trend during today session, however, the transaction remained at low level. The investors were still waiting for new information to set up the market trend for short-term period. After the first trading session, the VN Index slipped 3.03 points or 0.68 percent to 445.69 points with total trading volume [...]

Renault car showroom inaugurates in Hanoi Posted: 16 Sep 2010 12:53 AM PDT The second Renault car showroom of Jean Rouyer firm (France) in Asia – Pacific area was inaugurated at No 68 Le Van Luong, Hanoi by Auto Motors Vietnam (AMV) on September 15. The work has a 450 square metre showroom and an 550 square metre auto workshop. The second showroom is equipped the latest and the most [...]

Vietinbank offers CoDs with floating interest rates Posted: 16 Sep 2010 12:51 AM PDT From Sep 15 to November 15, Vietnam Commercial Joint Stock Bank of Industry and Trade (Vietinbank – coded CTG) has introduced the programme of “Chung chi tien gui ngoai te lai suat tha noi” or certificates of deposit in foreign currencies with floating interest rates. The minimum value of CoDs was $100. All Vietnamese individuals [...]

Interest rate rise by 1.64pct on interbank market Posted: 16 Sep 2010 12:33 AM PDT Total trading value on Vietnam’s interbank market in the week from September 3rd to 9th was estimated at approximately 147.75 trillion dong and $4.16 billion, an average of 16.417 trillion dong and $462 million per day, according to State Bank of Vietnam (SBV)’s report on its website today. This week saw a slight decrease in total [...]

Vietnam small banks likely to achieve profit targets Posted: 16 Sep 2010 12:32 AM PDT With modest business plans set earlier, the completion of the profit target by small commercial banks is entirely possible this year. According to the results reported, in the first eight months, Saigon Commercial Bank (SCB) reached 526 billion dong in pre-tax profit, compared with its target of making profit for 2010 at 700 billion dong. A [...]

Balance of payment may run $4b deficit Posted: 16 Sep 2010 12:32 AM PDT Vietnam balance of payment in 2010 may run a deficit of $4 billion, according to the 2010 socio-economic report recently announced by Ministry of Planning and Investment. Foreign currency imbalance This is a surprising figure, since two months ago, on July 9, the State Bank of Vietnam (SBV) officially confirmed that in the first half of 2010, [...]

Vietnam Vicem sells 11.58M tons of cement, clinker in Jan-Aug Posted: 15 Sep 2010 11:11 PM PDT Vietnam Cement Industry Corporation (Vicem) sold 11.578 million tons of cement and clinker in the first eight months of this year, rising 5.4% from a year earlier and fulfilling 60.9% of its full-target. Of the sum, 11.44 million tons were cement and 135,000 tons were clinker, up 5.3% and 9.8% on-year. Vicem held 36.6% of the [...]

Vietnam follows WTO price policy: Ministry Posted: 15 Sep 2010 11:10 PM PDT Vietnam does not break any price commitments to the World Trade Organization (WTO) when issuing a circular on stabilizing dairy prices, said Nguyen Tien Thoa, director of the Price Management Department under the Ministry of Finance. The statement is in response to a joint call made by the ambassadors of Australia, Canada, New Zealand, the U.S. [...]

Commercial arbitration law: approaching international standards Posted: 15 Sep 2010 11:09 PM PDT At the seminar on Decree and Guidance to implement Commercial Arbitration Law held on September 6, legal experts believed that the Commercial Arbitration Law (enforced from January 1, 2011) will overcome shortcomings of Commercial Arbitration Ordinance 2003 and meet practical demand of Vietnam in integration with world commercial law. Little interest by businesses While commercial arbitration is [...]

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