Vietnam Business News

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• Vietnam Military Bank to open branch in Laos
• Trai Thien air cargo carrier in big trouble
• 20 percent of cash transactions in Vietnam are in US dollars
• Oct 15: Vietnam gold eases to VND33.1Mln after all-time high, Dollar stable
• Toyo Group suggests investment on Song Hau 2 thermo power plant project
• Vietnam to borrow ODA from Japan to build Hai Phong seaport
• Nam Cuong Group starts selling apartments in Duong Noi new urban area
• Budget deficit likely to be reduced
• Two bourses drop slightly, ending a quiet transaction week

Vietnam Military Bank to open branch in Laos Posted: 15 Oct 2010 09:03 AM PDT Vietnam Military Bank (MB) was licensed on October 14 to open a branch in Laos with an initial capital of US$12 billion. Speaking on this occasion, the Lao Deputy Minister of Planning and Investment Thongmy Phomvisay pledged to create the best possible conditions for the MB to operate. MB's President Le Van Be thanked the Laotian State [...]

Trai Thien air cargo carrier in big trouble Posted: 15 Oct 2010 09:03 AM PDT Trai Thien, a private Vietnamese cargo airline, is now reportedly meeting financial difficulties. The air carrier has not paid salaries to its staff for the last five months. Meanwhile, the difficulties have forced the airline to change flight schedule regularly. Trai Thien got the license to provide air cargo transportation services in October 2009. The airline [...]

20 percent of cash transactions in Vietnam are in US dollars Posted: 15 Oct 2010 09:03 AM PDT The US dollar accounts for 20 percent of cash transactions Vietnam, 50 percent in Laos, and 90 percent in Cambodia. These figures are from a report entitled Dealing with Multiple Currencies in Transitional Economies published by the Asian Development Bank (ADB) in Hanoi on October 15. Ayumi Konishi, Vietnam Country Director of ADB, said that dealing with [...]

Oct 15: Vietnam gold eases to VND33.1Mln after all-time high, Dollar stable Posted: 15 Oct 2010 07:33 AM PDT Vietnam's gold prices on Friday morning paused at around VND33.1million/tael from all time peak of VND33.3million/tael yesterday as local investors took profit while local dollar prices maintain steady. Vietnam's gold prices on Friday morning paused at around VND33.1million/tael from all time peak of VND33.3million/tael yesterday as local investors took profit while local dollar prices maintain steady [...]

Toyo Group suggests investment on Song Hau 2 thermo power plant project Posted: 15 Oct 2010 01:34 AM PDT The Japan-based Toyo Group has lately submitted document seeking for approval in Song Hau 2 thermo power plant project with designed capacity of 2,000MW in Song Hau Thermo Power Centre, Tien Giang province. Previously, Toyo Group also showed interest in making investment on Duyen Hai 3 thermo power plant with designed capacity of 1,200MW to be [...]

Vietnam to borrow ODA from Japan to build Hai Phong seaport Posted: 15 Oct 2010 01:33 AM PDT Addressing at conference on container port and logistics services on October 14, Vuong Dinh Lam, director of Vietnam Marine Department, said that Vietnamese government and Japan will sign a credit agreement in the beginning of next month to develop Hai Phong seaport to become an international port. According to Lam, the total investment for developing the [...]

Nam Cuong Group starts selling apartments in Duong Noi new urban area Posted: 15 Oct 2010 01:27 AM PDT Nam Cuong Real Estate Exchange, under Nam Cuong Hanoi Group officially started selling 209 apartments in CT7-D Block, Duong Noi new urban area on Oct 15, 2010. The project was sited in an area of 51,679 square metres in extended Le Van Luong St, Hanoi. The average price for an apartment was estimated at 21.4 million [...]

Budget deficit likely to be reduced Posted: 15 Oct 2010 01:26 AM PDT Calculations of the government show that budget deficit in 2010 would be moderate at about 5.95 percent of GDP, down by 0.25 percent compared to plan and down by 0.95 percent compared to 2009. According to the draft report on socio-economic situation in 2010 and prepared plan on socio-economic development in 2011, which will be presented [...]

Two bourses drop slightly, ending a quiet transaction week Posted: 15 Oct 2010 01:23 AM PDT The October 15 session ended with a slight decrease in both bourses, marking the most quiet transaction week from the beginning of this year. After a slightly increasing session yesterday, the stock markets reversed to decline in the context of boring transaction environment. In the first trading session, the VN Index dropped by 1.59 points or 0.35 [...]

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