Vietnam Business News

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• VND3Tln charter capital raising deadline extended till Dec 31, 2011
• Dec14: Vietnam gold hits one-week high at VND36.39Mln, Dollar holds
• Fuji Xerox and CMC to jointly distribute new product
• Many trust funds to invest in Vietnam’s real estate: WB expert
• Song Da Thang Long starts construction on new real estate project
• Export price index increases
• Chemical product imports increase by 31.03pct in the first 10 months of 2010
• Vietnam banks to apply 5pct tax to gold CDs
• $820.7 million G-bonds issue plan faces risk of failure
• Vietnam dong in ‘extreme trouble,’ Morgan Stanley says

VND3Tln charter capital raising deadline extended till Dec 31, 2011 Posted: 14 Dec 2010 01:17 AM PST Vietnam’s Primary Minister on December 14 approved to extend the deadline for local banks to raise charter capital to a minimum VND3trillion until December 31, 2011, the State Bank of Vietnam announced on its website. Duong Quoc Anh, chief of banking inspection, supervision agency of the State Bank of Vietnam officially affirmed the approval, pointing out [...]

Dec14: Vietnam gold hits one-week high at VND36.39Mln, Dollar holds Posted: 14 Dec 2010 01:16 AM PST Gold prices on December 14 morning soared to VND36.39million/tael, the one-week high, as world gold prices breached above $1,400 an ounce for the first time in a week. Meanwhile, dollar prices held steady at VND21,250 in the free market. Gold prices on December 14 morning soared to VND36.39million/tael, the one-week high, as world gold prices breached [...]

Fuji Xerox and CMC to jointly distribute new product Posted: 13 Dec 2010 08:53 PM PST Fuji Xerox Vietnam Ltd, Co and CMC Distribution Ltd Co on December 11 signed a contract to jointly distribute the printing machine product manufactured in Vietnam by Fuji Xerox. Under the signed contract, CMC will be the nationwide official distributor for this office printing machine of Fuji Xerox in Vietnam market, including family customers. In the sort [...]

Many trust funds to invest in Vietnam’s real estate: WB expert Posted: 13 Dec 2010 08:52 PM PST Habibullah Khan, top expert of the World Bank recommended that in this context, individual investors should diversify investment in real estate trust funds. Real estate investment trust fund is a mean of effective investment, development and management of earnings from real estate, hotels, apartments and others. Trust funds are professionally managed and an opportunity for small [...]

Song Da Thang Long starts construction on new real estate project Posted: 13 Dec 2010 08:51 PM PST Song Da Thang Long Joint Stock Co (coded STL) announced to start construction on Dragon Pia project, a complex of high-class apartments, hotel and resort in An Vien coastal urban area, Nha Trang City on December 14, 2010. The project was sited in an area of 50,000 square metres, with total investment capital of 1.4 trillion [...]

Export price index increases Posted: 13 Dec 2010 08:50 PM PST Ministry of Industry and Trade (MoIT) on December 9 said that the Vietnam’s price index of 11 export items in November continued to increase by 1.4 percent from the previous month, and 10.8 percent versus the same period last year. Some export commodities saw high rises in price such as seafood, coffee, rice, rubber, footwear, electricity [...]

Chemical product imports increase by 31.03pct in the first 10 months of 2010 Posted: 13 Dec 2010 08:49 PM PST Imports of chemical products of Vietnam in October 2010, according to statistics, reached $178.49 million, slightly up by 0.71 percent compared to September 2010, and up by 27.26 percent compared to October 2009. In total, imports of chemical products reached $1.630,30 million in the first 10 months of 2010, up by 31.03 percent against the [...]

Vietnam banks to apply 5pct tax to gold CDs Posted: 13 Dec 2010 08:35 PM PST Depositors in the form of gold deposit certificates shall be subject to personal income tax of 5 percent. This incident has arose surprise to many people. Meanwhile, many banks are embarrassing with where to be applicable, where not. Under the new rules, commercial banks are allowed to only raise capital in gold by issuing gold deposit [...]

$820.7 million G-bonds issue plan faces risk of failure Posted: 13 Dec 2010 08:34 PM PST Treasury may face risk of failure in its plan of issuing about VND16 trillion (US$$820.7 million) of government bonds this month when just a handful of participants register for the purchase of the bonds. Deputy general director in charge of investment of a large commercial bank in Hanoi said that the yields on 3-year period at [...]

Vietnam dong in ‘extreme trouble,’ Morgan Stanley says Posted: 13 Dec 2010 08:33 PM PST Vietnam’s dong is in “extreme trouble” and is at risk of depreciation, Morgan Stanley said, two days after the International Monetary Fund warned the nation’s reserves were at a “low” level. A deteriorating balance of payments, a weak economy and trade deficit are “exerting significant downward force” on the dong, Stewart Newnham, Asian currency strategist at [...]

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