Vietnam Business News

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• Vietnam pledges to hold dong’s exchange rate, trading band until February
• Transport Ministry allows My Thuan-Can Tho project
• Vietnam Jan-Oct bank lending rose 22.5 Pct
• Coffee harvest in Vietnam’s Dak Lak delayed by rain
• Nov 5: Vietnam gold sets fresh all-time high at VND34.8Mln
• Vietnam raises minimum salary requirements for labourers
• Macro-economic situation facing unstable factors
• Two key solutions to boost local market: Senior analysts
• RP seeks to equal Vietnam investments
• Sacomreal to list on Ha Noi bourse

Vietnam pledges to hold dong’s exchange rate, trading band until February Posted: 04 Nov 2010 11:11 PM PDT Vietnam will not adjust the exchange rate of its currency against the U.S. dollar or change the dong trading band, Le Duc Thuy, Chairman of the National Financial Supervisory Commission, said. "That will be from now to the Lunar Tet holiday," Thuy told reporters in Hanoi today. "We will see how the market situation with the [...]

Transport Ministry allows My Thuan-Can Tho project Posted: 04 Nov 2010 11:09 PM PDT The Transport Ministry has approved plans for both the financing and construction of the My Thuan-Can Tho Highway. Estimated cost of construction is VND6.08 trillion (US$296.8 million) which will be raised from the State Budget, foreign capital and domestic investors. The ministry has also allowed the sale of land along the highway to raise money. Work on the [...]

Vietnam Jan-Oct bank lending rose 22.5 Pct Posted: 04 Nov 2010 08:44 PM PDT Bank lending in Vietnam rose an estimated 22.5% by the end of October from the end of last year, in line with an annual growth target of 25%, the central bank said on Thursday. Bank lending in Vietnam rose an estimated 22.5% by the end of October from the end of last year, in line with [...]

Coffee harvest in Vietnam’s Dak Lak delayed by rain Posted: 04 Nov 2010 08:43 PM PDT Coffee harvesting in Vietnam, the world's second-biggest producer, has been delayed by rains, according to officials and executives in Dak Lak, the biggest growing region. Robusta futures in London advanced. Coffee harvesting in Vietnam, the world's second-biggest producer, has been delayed by rains, according to officials and executives in Dak Lak, the biggest growing region. Robusta [...]

Nov 5: Vietnam gold sets fresh all-time high at VND34.8Mln Posted: 04 Nov 2010 08:42 PM PDT Vietnam gold on November 5 morning surged over VND600,000/tael from last close to hit a fresh lifetime high of VND34.8million/tael since world gold prices hit the record high in New York as plans by the Federal Reserve to buy more debt. Vietnam gold on November 5 morning surged over VND600,000/tael from last close to hit a [...]

Vietnam raises minimum salary requirements for labourers Posted: 04 Nov 2010 08:41 PM PDT Minimum salary for labourers at both domestic and foreign-owned enterprises in Vietnam will be raised beginning January 1, 2011. According to the newly issued government decree No.108/2010/ND-CP, the raised minimum will be between VND100,000 (USD5) and VND370,000 (USD18.5) for labourers working at companies, cooperatives, farms, household businesses, individual businesses and other organisations in the country which [...]

Macro-economic situation facing unstable factors Posted: 04 Nov 2010 08:40 PM PDT Vietnam's real budget deficit in 2011, prolonged trade deficit and macro-economic risks are of grave concern to National Assembly deputies. Deputy Le Quoc Dung from the northern province of Thai Binh said at the on-going NA session that Vietnam's real budget deficit in 2011 will double the reported value if unreported spending is added to the [...]

Two key solutions to boost local market: Senior analysts Posted: 04 Nov 2010 08:39 PM PDT Clearing uncertainty in the local forex market and creating more transparency are two key solutions to boost the local stock market, said Andy Ho, the managing director of VinaCapital. The forex market uncertainty is the center of the market focus now as dollar prices in the black market are 6.9% higher than the official listed ones [...]

RP seeks to equal Vietnam investments Posted: 04 Nov 2010 08:37 PM PDT The Philippines plans to match the annual foreign direct investments of Vietnam in three to five years, Trade Secretary Gregory Domingo said in a press briefing Tuesday. Domingo said Vietnam now had a foreign direct investment of $8 billion a year, four times more than the Philippines’ $2 billion. “That is the country’s aspiration now. We [...]

Sacomreal to list on Ha Noi bourse Posted: 04 Nov 2010 08:35 PM PDT The HCM City-headquartered Sacomreal will join the Ha Noi Stock Exchange next Tuesday to facilitate liquidity of its 100 million shares. Sacomreal (SCR), an affiliate of the HCM City Stock Exchange-listed Sacombank, has chartered capital of VND100 billion (US$5 million). Established in 2004 with VND500 billion, the company initally offered services such as interior design, brokerage and [...]

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