Vietnam Business News

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• Vietnam to remain largest pepper exporter
• Foreign investment focuses on wideband Internet services
• Hanoi invests 1.131 trillion dong for three traffic projects
• 61.5b dong to upgrade two lakes in Hanoi
• Mirax Group applies for deadline extension for $200m resort project in Cam Ranh
• Trade gap touches US$10.5b till November 16
• Emergence of TNCs to help develop supporting industries
• Vinashin restructuring plan reducing debt 38pct wins approval from Vietnam
• Vietnam government refuses to pay state-owned shipbuilders’ debts
• Vietnam Money-Price pressures to keep rates high

Vietnam to remain largest pepper exporter Posted: 24 Nov 2010 01:00 AM PST Total global pepper exports in this financial year would be 237,650 tonnes according to the latest estimates of the International Pepper Community (IPC). Out of this, 200,300 tonnes will be black pepper and the remaining (37,350 tonnes). Vietnam will top the table with export of 105,000 tonnes followed by Indonesia with 44,000 tonnes and Brazil with [...]

Foreign investment focuses on wideband Internet services Posted: 24 Nov 2010 12:59 AM PST According to the statistics mentioned in white book of Ministry of Information and Communication, the market shares of three foreign-invested network providers of S-Fone, Vietnamobile and Beeline accounted for nearly 10 percent. Ho Hong Son, general director of Saigon Post and Telecommunication Services Joint Stock Co, the manager and operator of S-Fone network said that [...]

Hanoi invests 1.131 trillion dong for three traffic projects Posted: 24 Nov 2010 12:58 AM PST Hanoi People’s Committee has lately approved for three projects of building bridges and traffic roads with total investment capital of 1.131 trillion dong, including Yen Vy Bridge project in My Duc Dist, upgrading provincial road No 423 through districts of Ha Dong, Tu Liem, Hoai Duc and Quoc Oai, and upgrading Chi Dong-Kim Hoa road, [...]

61.5b dong to upgrade two lakes in Hanoi Posted: 24 Nov 2010 12:55 AM PST Hanoi People’s Committee has lately passed a documents to conduct environment improvement for two lakes of Dam Khe in Ha Dong Dist and Sen in Tay Ho Dist. These two projects will be carried out by Hanoi Water Sewage State-owned one-member Co Ltd as the main investor with expected investment capital of 61.5 billion dong. Accordingly, [...]

Mirax Group applies for deadline extension for $200m resort project in Cam Ranh Posted: 24 Nov 2010 12:53 AM PST The Russia-based Mirax Group has submitted to Khanh Hoa province People’s Committee about extending the deadline to carry out the Mirax Cam Ranh Resort project. The local authority has already in principle approved the proposal. According to the investment licence that had been issued since 2008, the implementation of the afore-mentioned project was supposed to last [...]

Trade gap touches US$10.5b till November 16 Posted: 24 Nov 2010 12:52 AM PST During the first half of November, Vietnam's trade deficit was US$864 million, of which foreign direct investment (FDI) area reached US$146.8 million, according to general Department of Vietnam Customs. Till the end of November 16, the country's total export turnover reached US$60.8 billion. Of which, FDI enterprises exported US$28.66 billion. In the first half of November [...]

Emergence of TNCs to help develop supporting industries Posted: 24 Nov 2010 12:51 AM PST The emergence of transnational corporations (TNCs) is viewed as an excellent opportunity for Vietnam to develop supporting industries. However, there is a question on how domestic firms would take advantage of those opportunities. Four years ago, when US Intel Corporation decided to invest in Vietnam, commentators said Intel’s presence was like a boost, which led a [...]

Vinashin restructuring plan reducing debt 38pct wins approval from Vietnam Posted: 24 Nov 2010 12:51 AM PST Vietnam Shipbuilding Industry Group, restructuring after overexpansion led to near-collapse, won government approval for a turnaround that includes paring debt 38 percent and transferring units to other state-owned companies. Vinashin’s debts will fall to 53 trillion dong ($2.7 billion) under the plan, which ministries will work on through 2013, the government said in a November 19 [...]

Vietnam government refuses to pay state-owned shipbuilders’ debts Posted: 24 Nov 2010 12:50 AM PST The Vietnamese government on Tuesday refused to pay the debts of troubled state-owned Vietnam Shipbuilding Industry Group (Vinashin). “No one can pay debt for Vinashin,” Transport Minister Ho Nghia Dung told the National Assembly. “The government will not pay … but only support Vinashin in business and production activities to make money to pay [its] debt.” Dung [...]

Vietnam Money-Price pressures to keep rates high Posted: 24 Nov 2010 12:49 AM PST Vietnam’s November headline inflation rate may rise more than a percent from October, bringing annual inflation for the year near double digits and pressuring the central bank to keep monetary policies tight. Based on data from the country’s two biggest cities, economists and bankers expect November consumer price index to exceed 1 percent when the government [...]

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