Vietnam Business News

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• Cement price may decline
• Fierce competition in gold market
• LienVietBank opens first office in Hai Phong
• VN, Kuwait target strategic food and energy partnership
• RoK businesses increase investment in Vietnam
• Governor Giau: “ no gold scarcity”
• Vietnam banks mull cutting interest rates
• Sep 29: Vietnam gold turns tail, Dollars up
• Vietnam sees share offerings booming
• SMEs believe in decisive role for national development

Cement price may decline Posted: 30 Sep 2010 01:02 AM PDT Ministry of construction revealed that the country’s cement production output remained at stable level, therefore the cement price would not change much and may climb down in the end of the years. Previously, Vietnam Cement Industry Corp, the cement producer that holds large market share, had decided to lower the sales price with the purpose of [...]

Fierce competition in gold market Posted: 30 Sep 2010 01:01 AM PDT The narrow range between buying and selling prices of gold in the recent time has been considered enlarging the competition in the gold market, in which unhealthy competition has already been seen such as cheating on the purity of gold. Significant fluctuations Reaching the 30 million dong per tael threshold as the global gold prices rises, domestic [...]

LienVietBank opens first office in Hai Phong Posted: 30 Sep 2010 01:00 AM PDT LienViet Joint Stock Commercial Bank (LienVietBank) opened transaction office at No 43 Quang Trung, Hong Bang, Hai Phong on September 29. In 2010, the bank has focused on researching new products to enhance customers’ convenience, widened its network, and improved financial ability with gains of chartered capital of 4.46 trillion dong and total assets value of [...]

VN, Kuwait target strategic food and energy partnership Posted: 30 Sep 2010 12:30 AM PDT Minister of Industry and Trade Vu Huy Hoang and Kuwaiti Minister of Oil and Information Sheikh Ahmad Al-Abdulla Al-Sabah have discussed measures to boost bilateral ties, especially in trade, investment, energy and infrastructure construction. During their talks in Hanoi on September 29, the two sides agreed to strengthen bilateral cooperation in other sectors including electricity, mechanical [...]

RoK businesses increase investment in Vietnam Posted: 30 Sep 2010 12:29 AM PDT Vietnam wishes that businesses from the Republic of Korea (RoK) would increase their investment in the country, especially industries with high-added value and modern technology-intensive industries. The statement was made by Deputy Minister of Planning and Investment Dang Huy Dong at a seminar, jointly held by his ministry, the RoK Chamber of Commerce and Industry, the [...]

Governor Giau: “ no gold scarcity” Posted: 29 Sep 2010 10:06 PM PDT The Governor of the State Bank of Vietnam, Nguyen Van Giau, confirmed that " there is no gold scarcity in Vietnam and gold import is not yet urgent", the local newswire Dan Tri reported in Vietnamse on September 30. Giau admitted that it is difficult to foresee that world gold prices hit the current record high, [...]

Vietnam banks mull cutting interest rates Posted: 29 Sep 2010 10:05 PM PDT Vietnam banks are expected to trim down deposit interest rates to 11% p.a from 11.2% by October 15 as pledged with Vietnam Banks' Associations (VNBA) in June, as long as the stubborn credit knots are unraveled. Vietnam banks are expected to trim down deposit interest rates to 11% p.a from 11.2% by October 15 as pledged [...]

Sep 29: Vietnam gold turns tail, Dollars up Posted: 29 Sep 2010 10:05 PM PDT Local gold prices on September 30 fell sharply by up to VND150,000 a tael after hitting the record high of VND31.35million/tael yesterday, dollar prices heated up on black market to VND19,710. The local gold dealers have adjusted listed gold prices for several times this morning and still keep spread between bids and asks as big as [...]

Vietnam sees share offerings booming Posted: 29 Sep 2010 10:04 PM PDT The State Securities Commission (SSC) this year has approved the largest ever number of share offerings by listed firms, sparking concerns of oversupply. SSC as of the end of July had permitted enterprises issue around VND61 trillion worth of shares while it was only VND19.3 trillion in the whole 2009, said Bui Hoang Hai, deputy director [...]

SMEs believe in decisive role for national development Posted: 29 Sep 2010 10:02 PM PDT A majority of Vietnam's small-and medium-sized enterprises (SMEs) believed in their decisive role for the future of the national economy and their business development prospects. The result was indicated in an annual survey on Asia's business situation conducted by the world's leading transportation group UPS called Asia Business Monitor (ABM) which was announced on September 29. The [...]

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