Vietnam Business News

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• MoF lifts tax on gold export to 10% from Jan 1,2011
• Dec 2: gold edges down to VND36.29Mln, Dollar holds at all-time high
• Dec 2: Vietnam stocks resume gaining track on global rallies
• Tokyo Metro shows interest in Ha Noi’s urban railway
• Vietnam coffee harvest slows as rain returns, hurting picking, drying
• Number of mobile subscriber far exceeds fixed-line subscribers
• Trans-Indochina railway, road proposed
• Retail sector growth momentum remains robust
• Slowdown in FII inflow
• Vietnam to set price controls on commodities

MoF lifts tax on gold export to 10% from Jan 1,2011 Posted: 02 Dec 2010 01:21 AM PST The Ministry of Finance raised gold export tax to 10% from previous 0%, on god bars of under 99.9% purity, powdered gold or gold materials under Group 8718 effective from January 1, 2011. The Ministry of Finance raised gold export tax to 10% from previous 0%, on god bars of under 99.9% purity, powdered gold [...]

Dec 2: gold edges down to VND36.29Mln, Dollar holds at all-time high Posted: 02 Dec 2010 01:20 AM PST Gold prices on December 2 eased to VND36.29 million/tael after having the strongest rally in the last 3 weeks, down VND60,000 from last close. Meanwhile, dollar prices stayed flat at the lifetime high of VND21,530 in the free market. Gold prices on December 2 eased to VND36.29 million/tael after having the strongest rally in the last [...]

Dec 2: Vietnam stocks resume gaining track on global rallies Posted: 02 Dec 2010 01:19 AM PST Vietnamese stocks regained 450 threshold convincingly as traders jumped in to buy on global rallies and on hope of a better December after a year of losses. The benchmark VN Index soared 7.49 points or 1.66% to 457.42. Volume surged to 66.06 million shares traded for VND1.386 trillion compared with 49.06 million shares traded for VND1.053 [...]

Tokyo Metro shows interest in Ha Noi’s urban railway Posted: 02 Dec 2010 01:18 AM PST Japanese railway company Tokyo Metro was ready to help Ha Noi with management and staff training for the city’s urban passenger railway system, said Tadayyoshi Tohama, a company board member. The idea was suggested to Nguyen Van Khoi, deputy chairman of Ha Noi’s People’s Committee, at a meeting on Wednesday with a Japanese delegation that specialise [...]

Vietnam coffee harvest slows as rain returns, hurting picking, drying Posted: 01 Dec 2010 10:24 PM PST Coffee harvesting in Vietnam, the world's biggest grower of robusta beans used in instant drinks and espressos, has been disrupted by renewed rains just one week after picking began, local officials and traders said. Rains started Sunday and continued through Tuesday, hindering harvesting and drying that was already delayed by almost a month because of heavy [...]

Number of mobile subscriber far exceeds fixed-line subscribers Posted: 01 Dec 2010 10:22 PM PST The total number of new telephone subscribers from early 2010 to late November 2010, according to General Statistical Office, is estimated at 38.1 million, up by 6.1 percent over the same period of 2009. Of which, 37.3 million are mobile subscribers, accounting for 97.9 percent of the total, 786,500 are fixed-line subscribers. The number of subscribers [...]

Trans-Indochina railway, road proposed Posted: 01 Dec 2010 10:20 PM PST The HCM City Association of Consultants in Science Technology and Management (Hascon) held a seminar over the weekend to discuss a proposed plan to build a trans-Indochina railway and road. The project, which was conceived by former pilot Mai Trong Tuan, aims to build a parallel road and railway across Vietnam, Laos and Cambodia. The 1,410-km [...]

Retail sector growth momentum remains robust Posted: 01 Dec 2010 10:17 PM PST After nearly one year of construction, Thien Son Company last week cut the ribbon to open a shopping mall in the new urban town of Phu My Hung in HCM City’s District 7, offering tenants more choice and providing a shopping destination for residents in and around the town. Vo Thi Phuong Mai, director of Thien [...]

Slowdown in FII inflow Posted: 01 Dec 2010 10:12 PM PST A series of big giants such as Goldman Sachs and Deutsche Bank Trust Co Americas have entered the Vietnam market via investing in Vietnamese enterprises. The appearance of these famous brands makes many people think of a new line of foreign indirect investment (FII) returning to Vietnam. However, in comparison with billions of US dollars pouring [...]

Vietnam to set price controls on commodities Posted: 01 Dec 2010 10:12 PM PST Vietnam will impose price controls on certain commodities in an effort to tame inflation that has surged to the double digits, Prime Minister Nguyen Tan Dung said. He also urged the central bank to stabilize the dollar rate and gold prices. The prices of various good and commodities hit record highs this year, as locals snap [...]

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