Vietnam Business News

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• PV Gas sets November IPO date
• Software industry experiences high growth
• Overcrowding confuses mobile market
• Poor awareness limits 3G development
• Gov’t issues new rules on rice export trading
• Efforts to ensure fertiliser supply
• Textile, garment exporters sew up $1 billion per month
• Power plan needed to tackle warming
• Vietnam to use reserves, won’t devalue
• Dollar price: just let the market adjust itself, expert say

PV Gas sets November IPO date Posted: 05 Nov 2010 08:47 PM PDT Shares of PV Gas, an affiliate of the Viet Nam National Oil and Gas Group, will be auctioned at an initial public offering to be held at the HCM City Stock Exchange on November 17. Almost 95 million shares with a face value of VND10,000, or 5 per cent of the total charter capital of VND18.95 [...]

Software industry experiences high growth Posted: 05 Nov 2010 08:47 PM PDT The domestic software industry has witnessed significant growth over the past five years, according to the Viet Nam Software Association (Vinasa). Software sales revenue saw a four-fold increase from US$250 million in 2005 to $680 million in 2008 and $850 million in 2009. Revenue was expected to top $1 billion by the year-end. Exports also increased by [...]

Overcrowding confuses mobile market Posted: 05 Nov 2010 08:46 PM PDT A growing number of domestic mobile telecom companies had led to increased confusion in the market, reported a recent Ministry of Information and Communications seminar. There was strong competition among the seven mobile phone providers serving Viet Nam’s 86 million people, the seminar heard. The situation had resulted in unsustainable development of Viet Nam’s mobile telecommunications market, [...]

Poor awareness limits 3G development Posted: 05 Nov 2010 08:45 PM PDT Despite being launched almost a year ago in Viet Nam, 3G mobile telephony is developing at a sluggish rate, experts said. Nguyen Thien Bang, deputy director of VinaPhone’s Zone 2, told a conference on “3G applications for mobile” organised by HCM City’s IT Press Club on Thursday: “3G applications are limited due to social digital infrastructure.” He [...]

Gov’t issues new rules on rice export trading Posted: 05 Nov 2010 08:45 PM PDT A decree on rice export trading issued by the Government will be implemented next year to deal with problems concerning the management of rice exports. Under Decree 109/2010/ND-CP, eligible rice traders must have legal trading certification, one warehouse to store at least 5,000 tonnes of rice, one rice mill that can process at least 10 tonnes [...]

Efforts to ensure fertiliser supply Posted: 05 Nov 2010 08:44 PM PDT The Viet Nam Fertiliser Association plans to work closely with ministries and agencies to ensure an adequate supply of urea fertiliser for the coming winter-spring rice crop 2010-11. The southern provinces will enter the winter-spring rice crop by mid-month, but the supply of fertiliser varieties which depend on imports, especially urea fertiliser, has created a false [...]

Textile, garment exporters sew up $1 billion per month Posted: 05 Nov 2010 08:43 PM PDT The textile and garment industry is expected to continue earning about US$1 billion per month from exports for the last two months of the year to surpass its initial 2010 target by about $500 million, according to the Ministry of Industry and Trade. October was the third consecutive month the industry fetched more than $1 billion [...]

Power plan needed to tackle warming Posted: 05 Nov 2010 08:43 PM PDT Viet Nam would need to consider its power sector strategy to cope with climate change, experts said yesterday in a press conference and meeting with Deputy Prime Minister Hoang Trung Hai in Ha Noi. Yvo de Boer, former Executive Secretary of the United Nations Framework Convention on Climate Change; and Dennis Tirpark, former co-ordinator of international [...]

Vietnam to use reserves, won’t devalue Posted: 05 Nov 2010 09:04 AM PDT Vietnam will use its foreign exchange reserves to cover a shortage of dollars which is sharply pushing down the dong, but will not devalue its currency at least through early 2011, state media said on Thursday. The government has requested the central bank to conduct “strong enough intervention” and inject dollars to stabilize the market, the [...]

Dollar price: just let the market adjust itself, expert say Posted: 05 Nov 2010 09:03 AM PDT Dr Tran Du Lich, a well known economist, former Head of the HCM City Economics Institute, when talking about the current dollar scorching hot market, said that in the immediate future, the State Bank should keep a sound mind and not adjust foreign exchange rate in accordance with the dollar price on the black market. [...]

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