Vietnam Business News

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• Japanese firms get nod for venture to build northern port
• Hurdles litter path, but Vietnam investment to rise
• Second oil discovery with Lac Da Vang offshore Vietnam
• Vietnam’s Vinashin finishes Natixis debt repayment
• Hanoi opens door to more office space
• Dollar up on Vietnam black market as debts fall due
• Dai A Bank, first lender to cut Dong deposit interest rates to 10.86%
• Taming CPI, key to cut interest rates: Analyst
• Vietnam gas prices rise VND15,000/Cylinder
• Vietnam cement sales estimated at 36.46M tons in Jan-Sept

Japanese firms get nod for venture to build northern port Posted: 30 Sep 2010 11:37 PM PDT Three Japanese companies have been given the green light to join forces with Vietnam National Shipping Lines (Vinalines) to set up a joint venture to build the first two container terminals of Lach Huyen port in Hai Phong City. Under a statement issued by the government Office, deputy PM Hoang Trung Hai agreed in principle for [...]

Hurdles litter path, but Vietnam investment to rise Posted: 30 Sep 2010 11:36 PM PDT Few investors disagree that Vietnam has huge potential. But until the country’s opaque regulatory environment becomes more predictable, only the bravest firms will commit to making substantial direct investments there. When Vietnam’s communist government first opened up to foreign investment back in the 1990s, multinationals couldn’t wait to break ground on factories and hire some of [...]

Second oil discovery with Lac Da Vang offshore Vietnam Posted: 30 Sep 2010 11:34 PM PDT French major Total revealed that it and project partners have discovered oil on Block 15-1/05 offshore Vietnam with the Lac Da Vang prospect. French major Total revealed that it and project partners have discovered oil on Block 15-1/05 offshore Vietnam with the Lac Da Vang prospect. Situated on the southern part of Block 15-1/05, the Lac Da [...]

Vietnam’s Vinashin finishes Natixis debt repayment Posted: 30 Sep 2010 11:33 PM PDT Vietnam’s state shipbuilder Vinashin has completed repaying its debt to French bank Natixis (CNAT.PA), using funds from the Vietnamese government’s overseas bonds for part of the settlements, a government official said on Thursday. Vietnam’s state shipbuilder Vinashin has completed repaying its debt to French bank Natixis (CNAT.PA), using funds from the Vietnamese government’s overseas bonds for [...]

Hanoi opens door to more office space Posted: 30 Sep 2010 11:31 PM PDT The Hanoi office for lease market will receive more than 13,300 square metres of Grade A office space in December. With investment capital of VND200 billion ($10 million), TTC Tower will comprise 17 levels of Grade A space. Located in Cau Giay district, the building has an extensive 50 square metre facade on Duy Tan Street, intersecting [...]

Dollar up on Vietnam black market as debts fall due Posted: 30 Sep 2010 11:30 PM PDT The dollar rose against the dong on Vietnam’s black market Thursday due to business demand for dollars and rising global gold prices. The dollar rose against the dong on Vietnam’s black market Thursday due to business demand for dollars and rising global gold prices. Black-market traders were offering 19,710 dong to the dollar Thursday, up 30 dong [...]

Dai A Bank, first lender to cut Dong deposit interest rates to 10.86% Posted: 30 Sep 2010 11:29 PM PDT Dai A Joint Stock Commercial Bank has been the first lender to cut the dong deposit interest rates to 10.86% p.a. from October 1, the official effective date of Circular 13, the local newswire Tuoi tre reported in Vietnamese. Dai A Joint Stock Commercial Bank has been the first lender to cut the dong deposit interest [...]

Taming CPI, key to cut interest rates: Analyst Posted: 30 Sep 2010 11:29 PM PDT Consumer price index (CPI) must be tamed in order to cut interest rates, the local analysts said. Consumer price index (CPI) must be tamed in order to cut interest rates, the local analysts said. Lending Interest Rates Are Unaffordable For Local Enterprises Nguyen Thanh Tuan Kiet, CEO of Ho Chi Minh-based Viet Cuong Machinery Joint Stock Company revealed [...]

Vietnam gas prices rise VND15,000/Cylinder Posted: 30 Sep 2010 11:27 PM PDT The retail prices of domestic gas have increased by VND15,000 per 12 kilo cylinder, from October 1, the local gas firms said. Retail gas of PetroVietnam Gas, Petrolimex gas and Shell gas have been risen to VND299,000/cylinder, VND311,000/cylinder and VND316,000/cylinder respectively. The gas price hike to the higher prices of the global gas, citing spot gas prices [...]

Vietnam cement sales estimated at 36.46M tons in Jan-Sept Posted: 30 Sep 2010 11:25 PM PDT Vietnam is estimated to have used 36.46 million tons of ce- ment in the first nine months of this year, meeting 72.9% of its full-year target. In September, the figure stands at 4.22 million tons, the Ministry of Construction (MoC) said on its website late Wednesday. The country's Sept cement production output is estimated at 4.28 million [...]

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