Vietnam Business News

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• SBV may allow gold import to cool down local prices
• Techcombank cuts pretax-profit target by 12.69%
• Americans flock to do business in Vietnam – Asia’s next economic tiger?
• Vietnam textile industry set to achieve target early
• Pepper may continue to move further higher
• Opportunities for Malaysian franchises in Vietnam, says MFA
• Air Mekong sells fares online
• Domestic market’s supply to meet demand in fourth quarter
• City targets 12% growth in 2011-2015
• Interbank trading volume down, bank liquidity increases

SBV may allow gold import to cool down local prices Posted: 06 Oct 2010 11:40 PM PDT The State Bank of Vietnam may mull over giving quota for local enterprises to import gold if gold prices run wildly, said Nguyen Quang Huy, Director General of the Department of foreign exchange management . The State Bank of Vietnam may mull over giving quota for local enterprises to import gold if gold prices run wildly, [...]

Techcombank cuts pretax-profit target by 12.69% Posted: 06 Oct 2010 11:39 PM PDT Techcombank cuts its pretax profit target by 12.69% to VND2.8trillion amid unfavorable market conditions, the local newswire Dau Tu Chung Khoan (DTCK) reported October 7. Techcombank cuts its pretax profit target by 12.69% to VND2.8trillion amid unfavorable market conditions, the local newswire Dau Tu Chung Khoan (DTCK) reported October 7. The DTCK reported that many big lenders [...]

Americans flock to do business in Vietnam – Asia’s next economic tiger? Posted: 06 Oct 2010 08:55 PM PDT American Jim Okuley is one of many who have recently opened a business in Vietnam not far from where Viet Cong guerrillas once fired rockets. American Jim Okuley is one of many who have recently opened a business in Vietnam not far from where Viet Cong guerrillas once fired rockets. Driving in a jeep left over from [...]

Vietnam textile industry set to achieve target early Posted: 06 Oct 2010 08:54 PM PDT September was the third consecutive month the industry fetched more than $1 billion from exports, bringing the sector’s total export value in the first nine months of this year to more than $8 billion, a year-on-year increase of 20.6%. September was the third consecutive month the industry fetched more than $1 billion from exports, bringing the [...]

Pepper may continue to move further higher Posted: 06 Oct 2010 08:53 PM PDT Weakness in Dollar vs Re further affected the exports adversely. Vietnam is having low stocks as per reports that could result in export demand shifting to India. Pepper rates recovered from the lower levels as demand picked up moderately in the mandis. Some domestic demand from the North was there and that supported the prices to [...]

Opportunities for Malaysian franchises in Vietnam, says MFA Posted: 06 Oct 2010 08:52 PM PDT There are opportunities for Malaysian franchises in Vietnam which is expected to experience double-digit growth until 2012, according to the Malaysian Franchise Association (MFA). There are opportunities for Malaysian franchises in Vietnam which is expected to experience double-digit growth until 2012, according to the Malaysian Franchise Association (MFA). Vietnam’s franchise market is untapped because there are not [...]

Air Mekong sells fares online Posted: 06 Oct 2010 08:50 PM PDT Vietnam’s private airline Air Mekong has loaded airfares on its website for domestic flights departing from October, with a one-way fare starting from 400,000 (US$20.5). Truong Thanh Vu, director of comrnercial service at Air Mekong, said the VND400,OOO was for a single trip from HCM City to Can Dao, Phu Quoc, Pleiku and Buon Ma Thuot [...]

Domestic market’s supply to meet demand in fourth quarter Posted: 06 Oct 2010 08:48 PM PDT The supply of essential goods will be able to meet the country’s domestic demand by the end of this year, which will help to stabilise prices and consumption, reported the Ministry of Industry and Trade. The ministry said during the year’s fourth quarter the holiday and wedding season leads to consumption fluctuations on the domestic goods [...]

City targets 12% growth in 2011-2015 Posted: 06 Oct 2010 08:48 PM PDT Le Thanh Hai, secretary of the HCM City Party Committee, has said the city will try its best to attain an annual GDP growth rate of 12 per cent during the 2011-15 period. In a political report delivered at the 9th Party Congress of HCM City, Hai said the city targeted an annual value-added growth of [...]

Interbank trading volume down, bank liquidity increases Posted: 06 Oct 2010 07:55 PM PDT Total trading volume in Vietnamese dong was VND65.93 trillion (US$3.38 billion) during the final week last month, down 29.55 per cent against the previous week, according to a new report issued by the State Bank of Viet Nam. The dramatic decrease in interbank trading signals that liquidity at banks has improved after the central bank loosened [...]

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