Vietnam Business News

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• First phase of Ha Noi bridge finished
• Sep 28: Vietnam gold turns round, Dollars flat
• Dong interest rates hard to fall
• Forex reserve fears still stalk economy
• Rumours scotched as banks pass stress test
• Taiwan emerges as major source of foreign investment in Vietnam
• Agro-forestry-seafood exports continue soaring
• Taiwan, Vietnam to increase trade ties
• Intel helps Vietnam upgrade IT system
• Toxic toys sold everywhere

First phase of Ha Noi bridge finished Posted: 28 Sep 2010 01:02 AM PDT Deputy Prime Minister Hoang Trung Hai inaugurated Vinh Tuy Bridge’s first phase yesterday in Ha Noi. The bridge is set to be the widest bridge in Viet Nam and is one of the major construction projects that is celebrating the 1,000th anniversary of Thang Long-Ha Noi. Construction of the bridge kicked off in 2005. The bridge is [...]

Sep 28: Vietnam gold turns round, Dollars flat Posted: 27 Sep 2010 11:52 PM PDT Local gold prices on Tuesday eased to VND30.74million/tael after soaring to all-time high of VND30.9million/tael yesterday, ending its rising momentum for six consecutive days, while dollar prices stayed flat in both official and unofficial market. Local gold prices on September 28 eased to VND30.74million/tael after soaring to all-time high of VND30.9million/tael yesterday, ending its rising momentum [...]

Dong interest rates hard to fall Posted: 27 Sep 2010 11:51 PM PDT Vietnam banks find it harder to trim down dong interest rates and it is even expected that dong interest rates may be heated soon, which poses some local lenders to interest rate risks, the local newswire Dau Tu Chung Khoan reported September 28. Vietnam banks find it harder to trim down dong interest rates and it [...]

Forex reserve fears still stalk economy Posted: 27 Sep 2010 10:13 PM PDT Despite the recent local currency depreciation, forex reserves are again triggering exchange rate stabilisation concerns. In September, the International Monetary Fund reported that Vietnam’s foreign currency reserves had fallen in the first half of the year and equalled only seven weeks’ worth of imports. In response, the State Bank confirmed that reserves were sufficient for the [...]

Rumours scotched as banks pass stress test Posted: 27 Sep 2010 10:12 PM PDT Vietnam’s vulnerable banking system has survived its initial stress test, says a leading Vietnamese economist. “An initial stress test for Vietnam’s banking system has been done, proving that a domestic banking crisis is unlikely,” said Le Xuan Nghia, National Financial Supervision Committee’s (NFSC) vice chair. Local banks’ foundations are built on rock and not sand Nghia told FPT [...]

Taiwan emerges as major source of foreign investment in Vietnam Posted: 27 Sep 2010 10:12 PM PDT Taiwan is one of the main sources of foreign investment in Vietnam, with accumulated capital infusion estimated at around $25 billion, according to the head of a Taiwanese industry association in Hanoi. Huang Teh-hsiu, president of the Taiwanese Chamber of Commerce in the Vietnamese capital, said there are some 30,000 Taiwanese business people operating in Hanoi [...]

Agro-forestry-seafood exports continue soaring Posted: 27 Sep 2010 09:31 PM PDT The agro-forestry-seafood sector earned US$1.75 billion from exports in September, raising its total export turnover in the first nine months of the year to US$13.93 billion, a year-on-year increase of 22.3 percent. Of the total, agricultural products brought home US$7.32 billion, up 21 percent and seafood, US$3.47 billion, up 14.2 percent. Rice topped the list of agro-forestry [...]

Taiwan, Vietnam to increase trade ties Posted: 27 Sep 2010 09:30 PM PDT A trade exchange to promote trade for Taiwanese businesses in Vietnam market and other ASEAN markets opened in Ho Chi Minh City on September 27. The event was held by the Taiwan External Trade Development Council (TAITRA) and the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City (VCCI-HCMC). Attending the event were 63 leading [...]

Intel helps Vietnam upgrade IT system Posted: 27 Sep 2010 09:29 PM PDT The Ministry of Finance and the Intel-Vietnam Group signed a Memorandum of Understanding on the transfer of the American IT giant's new technology in Hanoi on September 27. The one-year deal will help the ministry increase efficiency in management, use of the information technology infrastructure and formalise bilateral strategic partnership. The two parties will cooperate in making [...]

Toxic toys sold everywhere Posted: 27 Sep 2010 08:58 PM PDT Counterfeit CR safety guarantee stamps are freely sold, so 90 percent of toys available on the market are Chinese and many contain toxic substances. Areas specializing in children's toys in HCM City were bustling last weekend, even though on September 15 the HCM City Market Control Sub-department inspected and seized a lot of toys without the [...]

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