Vietnam Business News

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• Hanoi’s first metro line breaks ground
• Conctruction on Vietnam’s first underwater tunnel ends
• Vietnam turns at last to promotion of renewable energies
• Vietnam attends World Travel Fair in Japan
• Vietnam to export 200,000 tonnes of rice to Cuba
• Power outages to continue to grip Vietnam
• Textile export turnover touches over $7.5b in first nine months
• Textile industry faces difficulty due to increasing price in imported cotton
• New property rights for overseas Vietnamese
• Gold prices rise sharply

Hanoi’s first metro line breaks ground Posted: 25 Sep 2010 08:49 PM PDT A 12.5-kilometer metro line with a total investment of over VND18 trillion (US$924 million) broke ground in Hanoi Saturday. Local news website Vietnamnet reported that this is the first of five metro lines to be completed by 2020. The line starts at Nhon in Tu Liem District and finishes at Hanoi Railway Station. Four kilometers of the [...]

Conctruction on Vietnam’s first underwater tunnel ends Posted: 25 Sep 2010 08:48 PM PDT A ceremony was held in Ho Chi Minh City on Tuesday to mark completion of Vietnam's first underwater tunnel after five years of work. Thu Thiem Tunnel, the largest of its kind in Southeast Asia, was expected to open to traffic in the second quarter of next year, allowing vehicles to travel at 60 kilometers per [...]

Vietnam turns at last to promotion of renewable energies Posted: 25 Sep 2010 08:47 PM PDT Policies advocated by the Vietnam Energy Association to create a friendlier climate for development of technologies that make power from the wind, the sun and natural wastes seem to have won the Government's support. Tran Viet Ngai, chairman of the Vietnam Energy Association, talked with Thanh Nien Daily. He said: The demand for power is rising [...]

Vietnam attends World Travel Fair in Japan Posted: 25 Sep 2010 09:08 AM PDT Vietnam is attending the World Travel Fair 2010 by the Japan Association of Travel Agents (JATA), which opened in Tokyo on Sept. 24. At the event, the Vietnam National Administration of Tourism (VNAT), Vietnam Airlines, Da Nang city and several travel agencies are introducing foreigners to the Vietnamese people and country, especially the popular tourism sites [...]

Vietnam to export 200,000 tonnes of rice to Cuba Posted: 25 Sep 2010 09:06 AM PDT The Vietnam Northern Food Corporation (VINAFOOD 1) has signed a contract to export 200,000 tonnes of rice to Cuba, announced the Vietnam Food Association (VFA). Of the total, 50,000 tonnes of 15 percent broken rice will be sold at US$496 per tonne. The rice will be delivered from October, 2010 to March, 2011. Every year Cuba imports about [...]

Power outages to continue to grip Vietnam Posted: 25 Sep 2010 09:03 AM PDT Vietnam’s severe power shortages have shown signs of worsening as hydropower plants now responsible for around 35 percent of total electricity output are still in distress in the current rainy season, according to the country’s leading power firm. Electricity of Vietnam chair Dao Van Hung said power outages might worsen from 2012 onwards because droughts had [...]

Textile export turnover touches over $7.5b in first nine months Posted: 25 Sep 2010 09:02 AM PDT Vietnam Textile and Garment Associtation (Vitas) has said that the country’s accumulative export turnover in Jan-Sep was estimated at over $7.5 billion, a year-on-year increase of 17 percent. The textile export in first nine months has got many advantages such as plentiful orders, an increase of 10-20 percent in export price. It was predicted that the [...]

Textile industry faces difficulty due to increasing price in imported cotton Posted: 25 Sep 2010 09:01 AM PDT In early September, the price of imported cotton was estimated at $1.9-2 per kilogram, equivalent to $1,900-2,000 per tonne, increasing by 9 percent against the previous month, and up 45 percent year-on-year. The statistics released by Vietnam Textite and Garment Association (Vitas) showed that last year, Vietnamese textile firms had to import 300,000 tonnes of cotton [...]

New property rights for overseas Vietnamese Posted: 25 Sep 2010 05:08 AM PDT Overseas Vietnamese who have maintained their Vietnamese citizenship are permitted to own unlimited property, according to the latest decree on the Land and Housing Law. Deputy Minister of Construction Nguyen Tran Nam said that this is a change from the previous decree issued in 2001, which stipulated that only select groups of people of Vietnamese origin [...]

Gold prices rise sharply Posted: 25 Sep 2010 05:07 AM PDT The domestic price of gold on September 25 rose by VND40,000/tael compared to transactions on the previous day. In Hanoi, at 9.30am, SJC gold was listed at VND30.42-30.48 million/tael while in Ho Chi Minh City, Nha Trang and Can Tho, it stood at VND30.42-30.46 million/tael. In Asian markets on September 25, it hovered around US$1,297-1,298 per ounce. [...]

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