Vietnam Business News

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• Plastic progress
• The condotel has landed
• Power price negotiations reach impasse
• Who to blame on SABECO brand case?
• Vietnam more credit worthy than Portugal and Spain?
• Economists urge Vietnam policy shift
• Vietnam deposit interest higher 10 times from Thai rates
• Vietnam probes banknote bribery involving governor
• Foreign currency market still bearing hard pressure
• Mitsubishi Estate starts investment in high-end apartment market in Vietnam

Plastic progress Posted: 27 Nov 2010 01:20 AM PST Vietnam's younger generation is where the future lies for banks and their credit cards. Stable economic growth has boosted consumption among Vietnamese people and gradually seen them approach convenient personal finance services like credit cards. Young people, in particular, represent a future pool of cardholders for bank and financial services companies. Figures from market researchers the Nielsen [...]

The condotel has landed Posted: 27 Nov 2010 01:19 AM PST The condo-hotel is an alien concept for Vietnam but developers now believe the time is right to introduce this product to the market. Duc Hanh examines what the attractions are for investors and owners So, first of all, what is a condo-hotel or a condotel? It's a condominium project, which is operated as a hotel with [...]

Power price negotiations reach impasse Posted: 26 Nov 2010 08:03 AM PST PetroVietnam and Electricity of Vietnam (EVN) are still working together to reach a consensus in power selling prices for two key projects. The deals centre on the Nhon Trach 1 (NT1) and Nhon Trach 2 (NT2) gas-fueled thermal power plants developed by the country's oil and gas giant. To have a basis for power payment, in late [...]

Who to blame on SABECO brand case? Posted: 26 Nov 2010 08:03 AM PST As VietNamNet reported on November 24, Vietnamese Saigon Beer Alcohol Beverage (SABECO) is facing the risk of being swallowed by a Singaporean partner. Several questions have been raised in the case. Why did SATRACO, a subsidiary of SABECO, decide to choose a partner who was then only one month old, to sign a contract described [...]

Vietnam more credit worthy than Portugal and Spain? Posted: 26 Nov 2010 08:03 AM PST According to the Forex TV on November 24 affirmed that Vietnam is more credit worthy than Portugal and Spain. European bond spreads have widenend to record levels but how bad is that really? To put everything into perspective, investors are demanding more premium to lend to Ireland, Portugal and Spain than to emerging countries in Europe and [...]

Economists urge Vietnam policy shift Posted: 26 Nov 2010 08:02 AM PST Vietnamese authorities need to make some tough changes in policy direction, and may consider further devaluing the dong, if they hope to get one of Asia’s fastest-growing economies back onto a steady path, economists say. The government has announced a slew of new policies in recent weeks in an effort to ease pressure on the dong, [...]

Vietnam deposit interest higher 10 times from Thai rates Posted: 26 Nov 2010 08:02 AM PST The average dong deposit rates in 2010 are standing at 11 percent per year for all other terms, even jumping higher after the State Bank of Vietnam (SBV) has raised the benchmark rate from 8 percent to 9 percent, while in Thailand, the deposit interest rates are now only under 1.5 percent per year for [...]

Vietnam probes banknote bribery involving governor Posted: 26 Nov 2010 08:02 AM PST Vietnam central agencies are initiating probe into a Hanoi-based company for allegedly taking US$10 million in return for securing an Australian firm a lucrative contract procuring polymer for printing banknotes in Vietnam. The Central Anti-Corruption Committee said Thursday it has asked Swiss judicial agencies to provide information related to bank accounts and other suspicious transactions made [...]

Foreign currency market still bearing hard pressure Posted: 26 Nov 2010 08:02 AM PST Export companies continue keeping the dollars they earn from export contracts on their accounts and refusing to sell dollars to banks, thus putting a hard pressure on the dollar supply. The dollar price has been increasing further since early this week on the gold price hike. One dollar was converted into 21,100-21,250 dong on Monday. As [...]

Mitsubishi Estate starts investment in high-end apartment market in Vietnam Posted: 26 Nov 2010 08:02 AM PST The Japan-based Mitsubishi Real Estate Group (Mitsubishi Estate) yesterday November 25 officially released the investment plan in high-class apartment markets in Vietnam. According to the press release, the group will cooperate with Singaporean CapitaLand Real Estate Co and GIC Real Estate, under GIC Investment Fund of Singaporean government to set up a joint venture with total [...]

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