Vietnam Business News

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• Vietnam may import 250,000 tonnes of sugar in 2011
• EVN continues to buy electricity from China
• Maintenance contract for Nhon trach 1 power plant inked
• WB and ADB finance Vietnam $230m to develop infrastructure in central
• Work on Gia Dinh Plaza complex starts
• Optimistic results of Vietnam’s economy in Jan-Nov
• Net FII capital touches $712m in Jan-Nov
• HNX holds 3tr-dong G-bonds session
• Trading volume in two bourses reaches 4.5tr dong
• Sacombank raises deposit rates to 14pct pa

Vietnam may import 250,000 tonnes of sugar in 2011 Posted: 06 Dec 2010 12:24 AM PST Ministry of Agriculture and Rural Development has lately estimated to reach total sugar output in 2010-2011 crop of about 1 million tonnes, therefore, the import quota in 2011 may be at about 250,000 tonnes. The statistics from the Department of Import and Export, under ministry of industry and trade showed that by the end of October [...]

EVN continues to buy electricity from China Posted: 06 Dec 2010 12:23 AM PST Electricity of Vietnam (EVN) on December 4 announced that the total electricity purchase from foreign countries increased nearly 34 percent from the same period last year, of which, the purchase from China saw a rise of nearly 32 percent y-o-y. EVN forecasted the power supply in December will remain difficult. Thus, to ensure for the stable [...]

Maintenance contract for Nhon trach 1 power plant inked Posted: 06 Dec 2010 12:22 AM PST PetroVietnam Power Technical Services Joint Stock Co (PV Power Services) signed two contracts for providing long-term maintenance services for Nhon Trach 1 Power Plant on December 3, 2010. The company signed these two contracts with manufacturer of Alstom Asia Pacific Shd (Malaysia) and Alstom Vietnam Co Ltd for the first 108,000 operating hours, that was expected [...]

WB and ADB finance Vietnam $230m to develop infrastructure in central Posted: 06 Dec 2010 12:22 AM PST World Bank (WB) and Asian Development Bank (ADB) have recently come to an agreement to finance nearly $230 million for Vietnam to carry out six urban infrastructure projects during 2010-2015 in the central province of Nghe An. Under it, WB will fund an urban development project in the central city of Vinh, water drainage and waste [...]

Work on Gia Dinh Plaza complex starts Posted: 06 Dec 2010 12:21 AM PST Gia Dinh Plaza complex including trade centre and luxury apartments was co-started construction on December 4 at No 7 Truong Chinh St, Dong Hung Thuan ward, HCM City’s dist 12 by Gia Dinh Garment and Textile one member Co Ltd and Gia Dinh Development and Investment Joint Stock Co. The 12,000 sqm project designed by Korean [...]

Optimistic results of Vietnam’s economy in Jan-Nov Posted: 06 Dec 2010 12:20 AM PST During the first 11 months this year, generally, Vietnam economy has shown positive trends, according to report of General Statistical Office (GSO). The country’s industrial production value in November was estimated to rise 14.3 percent from the same period last year. Totally in Jan-Nov, Vietnam’s industrial production value reached 717.1 trillion dong, up 13.8 percent year-on-year. Of [...]

Net FII capital touches $712m in Jan-Nov Posted: 06 Dec 2010 12:19 AM PST Net foreign indirect investment (FII) capital increasing considerably, along with trade deficit lower than forecast and satisfactory remittances helped stabilise the dong/US dollar FX rate and the macroeconomic scenario. At the press conference held on December 2, State Bank of Vietnam (SBV)’s governor, Nguyen Van Giau said that the foreign currency market and FX pressure have [...]

HNX holds 3tr-dong G-bonds session Posted: 06 Dec 2010 12:18 AM PST Hanoi Stock Exchange (HNX) announced to hold a tender session on December 9, 2010 for three trillion dong G-bonds issued by the State Treasure for the 39th time in 2010. These bonds have three different terms of three years, five years and ten years. These bonds will have date of issue on December 13, 2010, to [...]

Trading volume in two bourses reaches 4.5tr dong Posted: 06 Dec 2010 12:18 AM PST Opening the new trading week, the two bourses continued showing positive signs of the previous week with continuous increase in trading volume. While the Hochiminh Stock Exchange (STC) ended the trading session with over 96 million shares, the northern floor had about 87 million shares being transferred with total value of nearly 4.5 trillion dong. In [...]

Sacombank raises deposit rates to 14pct pa Posted: 06 Dec 2010 12:16 AM PST Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has announced to launch the promotion programme of “mua tri an khach hang 2010″ from now up to January 31, 2011. In details, apart from enjoying the preferential deposit rates, all the customers who deposit their savings in the bank with terms of over one month will be [...]

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