Vietnam Business News

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• Hydropower firm yet to finish negotiation with EVN
• Furniture export may exceed $4b in 2011
• Both bourses rally November 10
• Vietnam ranks 16 amongst top 30 remittance receiving countries in 2010
• Vietnam may raise interest rates in coming months: HSBC
• Vietnam attracts $5.7b investment from overseas Vietnamese
• Sujia steel pipe (Vietnam) officially begins production
• Vietnam’s energy industry is luring foreign investment
• Vietnam coffee-sales slow despite high prices
• Vietnam to export more than 6.5 million tons of rice this year

Hydropower firm yet to finish negotiation with EVN Posted: 10 Nov 2010 12:42 AM PST Vinh Son Song Hinh Hydropower Joint Stock Co (coded VSH) announced that up to now, the company hasn’t finished negotiation about the 2010 power price with Electricity of Vietnam (EVN) Group. The power price in the first ten months of this year was still calculated at 90% of that of 2009 for tax payment purposes [...]

Furniture export may exceed $4b in 2011 Posted: 10 Nov 2010 12:39 AM PST Vietnam’s furniture export turnover is expected to fetch $4.1-$4.2 billion in next year, according to the Vietnam Timber and Forestry Product Association (Vietforest). Nguyen Ton Quyen, Vietforest’s vice chair, said that in 2010, Vietnam’s wooden product export markets have gained significant recovery against 2009 and the country’s furniture export turnover will be likely to exceed the [...]

Both bourses rally November 10 Posted: 10 Nov 2010 12:37 AM PST The trading session on November 11 ended with the blue colour back on the electronic board of both bourses Hochiminh Stock Exchange (STC) and Hanoi Stock Exchange (HNX). During last few days, gold and foreign exchange markets is causing difficulties when continuing to be in “disorder” situation. This shows that the macroeconomic instability still remained. Inflation [...]

Vietnam ranks 16 amongst top 30 remittance receiving countries in 2010 Posted: 10 Nov 2010 12:36 AM PST The inward remittance to Vietnam in 2010 is estimated to reach $7.2 billion, up 9 percent from the 2009’s figure of $6.6 billion. World Bank (WB) has recently released a report on remittance delivery in 2010 whereby Vietnam ranked the 16th amongst top 30 remittance receiving countries in 2010 after India, China, Mexico, Philippines, France, Germany, [...]

Vietnam may raise interest rates in coming months: HSBC Posted: 10 Nov 2010 12:34 AM PST There will be more actions from the government to curb inflation and limit the devaluation of the dong in the future, according to HSBC. Vietnam's policy makers have reversed their economic policy directions as the government not only required commercial banks to lower interest rates, but also allowed the State Bank of Vietnam to raise base [...]

Vietnam attracts $5.7b investment from overseas Vietnamese Posted: 09 Nov 2010 10:13 PM PST Overseas Vietnamese have invested in more than 3,200 projects in Vietnam with combined investments of around $5.7 billion, the Foreign Ministry said Thursday. Over the past six years, many policies have been implemented that favour overseas Vietnamese, Foreign minister Pham Gia Khiem said at a conference in Hanoi. Around 500,000 foreigners of Vietnamese origin, also known as [...]

Sujia steel pipe (Vietnam) officially begins production Posted: 09 Nov 2010 08:10 PM PST On November 8, the first phase of Sujia Steel Pipe (Vietnam) Co., Ltd, the largest overseas investment project of Wuxi, Jiangsu-based Chinese steelmaker Jiangsu Sujia Group Co., Ltd (Sujia Group), was officially commissioned. On November 8, the first phase of Sujia Steel Pipe (Vietnam) Co., Ltd, the largest overseas investment project of Wuxi, Jiangsu-based Chinese steelmaker [...]

Vietnam’s energy industry is luring foreign investment Posted: 09 Nov 2010 08:10 PM PST In the past month, Vietnam has experienced an extraordinary raft of investment in major energy projects. The government has in recent years been very open to foreign capital and has already developed a strong banking sector. In the past month, Vietnam has experienced an extraordinary raft of investment in major energy projects. The government has in [...]

Vietnam coffee-sales slow despite high prices Posted: 09 Nov 2010 08:09 PM PST Vietnam’s coffee exports are expected to fall this month by around a fifth from a year ago as stocks from the old crop are dwindling and rain has delayed the new crop, traders said on Tuesday. Nov 9 – Vietnam’s coffee exports are expected to fall this month by around a fifth from a year ago [...]

Vietnam to export more than 6.5 million tons of rice this year Posted: 09 Nov 2010 08:08 PM PST Vietnam, the second-largest rice exporter, will ship more than 6.5 million metric tons of the grain this year, the country's agricultural minister said. Vietnam, the second-largest rice exporter, will ship more than 6.5 million metric tons of the grain this year, the country's agricultural minister said. Production hasn't been affected by floods, Cao Duc Phat, the minister [...]

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