Vietnam Business News

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• Funding sought for expressway
• Spanish firm eyes container terminal project
• Sacombank to facilitate farm produce import from US
• Free trade area under Asean achievable by 2015: Experts
• Timber exports surge in major markets
• Honda says to raise output of new scooter
• Rainfall boosts Vietnam coffee crop before harvest this month
• Vietnam probably won’t devalue again in 2010, ANZ says
• Leather and footwear exports reach $5.4 Billion
• A plan Afoot to boost exports to Africa

Funding sought for expressway Posted: 07 Oct 2010 11:29 PM PDT The Ministry of Transport has asked the World Bank (WB) to increase interest-free credit for the Da Nang-Quang Ngai expressway project to reduce risk of debt distress. The ministry has urged the project management units and developer Vietnam Expressway Investment and Development Corp. (VEC) to complete the environment impact appraisal report on the project in line [...]

Spanish firm eyes container terminal project Posted: 07 Oct 2010 11:28 PM PDT Spain’s leading operator of port terminals Grup TCB is seeking assistance from the HCM City government for a container terminal project in Hiep Phuoc Port Urban Area in Nha Be District. At a meeting with HCM City vice chair Ng.uyen Trung Tin last week, Xavier Soucheiron, CEO of the group, said he expected to complete the [...]

Sacombank to facilitate farm produce import from US Posted: 07 Oct 2010 11:27 PM PDT Saigon Thuong Tin Commercial Bank (Sacombank) has been chosen to draw up the letter of credit (L/C) for farm produce import from the US under the Export Credit Guarantee Programme, or GSM-102. The programme covers credit terms of up to 12 months with the total limit of $20 million. The Commodity Credit Corporation (CCC) under the [...]

Free trade area under Asean achievable by 2015: Experts Posted: 07 Oct 2010 11:27 PM PDT A free trade area under Asean is achievable by 2015, according to experts speaking at the 3rd Asean and Asia Forum held in Singapore. But, some said that it will take another 30 to 40 years before a common European-style market in the region is developed. Exports to the US and Europe still play a key role [...]

Timber exports surge in major markets Posted: 07 Oct 2010 11:26 PM PDT The turnover from timber and furniture exports in the first nine months of this year is estimated at US$2.43 billion, a year-on-year increase of 37.7 percent, according to the Ministry of Agriculture and Rural Development (MARD). The ministry reported that the total export turnover of forestry products has risen to US$2.6 billion. According to Vietnam's Timber and [...]

Honda says to raise output of new scooter Posted: 07 Oct 2010 11:25 PM PDT Japan’s Honda Motor Co said on Friday it will increase annual production of its new 125 cc PCX motorcycle model by 30 percent to 60,000-70,000 units. Japan’s Honda Motor Co said on Friday it will increase annual production of its new 125 cc PCX motorcycle model by 30 percent to 60,000-70,000 units. Sales of the model have [...]

Rainfall boosts Vietnam coffee crop before harvest this month Posted: 07 Oct 2010 11:24 PM PDT Rains in the center of Vietnam, the world's biggest coffee producer after Brazil, are helping crop development before the start of the harvest, said a grower group. Rains in the center of Vietnam, the world's biggest coffee producer after Brazil, are helping crop development before the start of the harvest, said a grower group. "We've had more [...]

Vietnam probably won’t devalue again in 2010, ANZ says Posted: 07 Oct 2010 11:22 PM PDT Vietnam probably won't devalue the dong again until next year, Australia & New Zealand Banking Group Ltd. predicted, after three moves by the nation's central bank to reduce the value of the currency in the past year. Vietnam probably won't devalue the dong again until next year, Australia & New Zealand Banking Group Ltd. predicted, after [...]

Leather and footwear exports reach $5.4 Billion Posted: 07 Oct 2010 11:21 PM PDT Leather and footwear exports in 2010 are expected to reach US$5.4 billion, announced the Vietnam Leather and Footwear Association. In the first 9 months of this year, the sector's export revenue is estimated to have reached US$3.6 billion, an increase of 23.1 % over 2009. The EU remains the leading importer, followed by the [...]

A plan Afoot to boost exports to Africa Posted: 07 Oct 2010 11:21 PM PDT In response to the Government's national action plan to strengthen cooperation with African countries, the Ministry of Industry and Trade (MoIT) has approved a project to help Vietnamese businesses boost their exports to the continent. The MoIT also introduced an action programme focusing on expanding commercial exchanges and boosting exports to Africa. With the assistance of state [...]

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