Vietnam Business News

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• Shrimp exports expected to reach over $2b
• 20 road projects to be started in 2011
• EVN improves power supply capacity
• New large project worth $4b to be carried out in central region
• Inflation starts to fall from Dec
• Vietnam esteems cooperation with Japan
• Portfolio investments almost at $1b
• Two bourses continue surging thanks to bank stocks
• Securities brokers increase service fee to 21.6pct/yr
• Securities-backed loans on the rise: brokers

Shrimp exports expected to reach over $2b Posted: 15 Dec 2010 12:17 AM PST Vietnam Association of Seafood Exporters and Processors (Vasep) on December 14 said that shrimp exports this year would fetch over $2 billion. Last year’s figure was nearly $1.7 billion. During the first 10 months this year, Vietnam exported over 195,000 tonnes of shrimp, earning $1.68 billion. Vietnam’s three key markets including Japan, the US and European Union [...]

20 road projects to be started in 2011 Posted: 15 Dec 2010 12:09 AM PST Representative of Vietnam Road Administration said yesterday December 13 that the agent may kick off construction work on 20 road projects in 2011 if being allocated sufficient investment capital. These projects which have already been registered with the functional authorities include: upgrading National Highway No 15 (Hoa Binh-Thanh Hoa), upgrading National Highway No 27 in Lam [...]

EVN improves power supply capacity Posted: 15 Dec 2010 12:08 AM PST Electricity of Vietnam (EVN) Group stated lately that within this month, the group planned to start operation additional three turbines including the first turbines of Son La Hydropower plant, Song Tranh 2 hydropower plant and Dong Nai 3 hydropower plant, raising the total designed capacity to be put into operation in 2010 to 1,895MW. The group [...]

New large project worth $4b to be carried out in central region Posted: 14 Dec 2010 11:53 PM PST Quang Nam province people’s committee has lately worked with local functional authorities for considering and granting the investment licence for South Hoi An high-class resort complex Genting VinaCapital Investment Joint Venture. The project has registered investment capital of $4 billion, including variety of construction items such as hotel, resort complex, villas and about 2,500 houses for [...]

Inflation starts to fall from Dec Posted: 14 Dec 2010 11:45 PM PST World Bank (WB) recently gave forecast that Vietnam’s inflation this year would be at 10.5 percent. However, according to many domestic experts, because total consumer price index (CPI) during the first 11 months this year jumped up to 9.58 percent, the country’s inflation in 2010 would be at least 11 percent. Economist Ngo Tri Long, former deputy [...]

Vietnam esteems cooperation with Japan Posted: 14 Dec 2010 11:43 PM PST Vietnam always attaches importance to developing cooperation with Japan, especially in economics, trade and investment, and creates favourable conditions for Japanese investors to operate effectively in the country. Politburo member and standing member of the Secretariat of the Party Central Committee Truong Tan Sang made the statement while receiving President of the Japan-Vietnam Economic Committee Kato [...]

Portfolio investments almost at $1b Posted: 14 Dec 2010 11:42 PM PST Foreign portfolio investment has topped $920 million in the year to date, according to the State Securities Commission. More than $600 million went into shares and the rest into deposits and other asset classes, the SSC added. By October end, portfolio investment in Vietnam had reached $6.5 billion, excluding the $1 billion in international bonds issued by [...]

Two bourses continue surging thanks to bank stocks Posted: 14 Dec 2010 11:39 PM PST After the previous correction session, the indexes on two bourses entered today trading session with increasing trend from the beginning. Most of the share codes among banking group rose to the ceiling price with outstanding demands to millions of units. At closing time, the VN Index soared by 3.82 points or 0.78 percent to end at 493.47 [...]

Securities brokers increase service fee to 21.6pct/yr Posted: 14 Dec 2010 11:38 PM PST From the beginning of this week, a series of securities companies announced to raise the service fee by 0.06 percent/year to 21.6 percent per year. With high deposit and lending rates in the market during recent time, many securities brokers also started to announce new lending rate benchmark for services such as advance for securities sales, [...]

Securities-backed loans on the rise: brokers Posted: 14 Dec 2010 11:37 PM PST When the stock market has seen a rally in recent times, bringing the Vn-Index to 490 points during the trading session on December 13, many investors begun to mortgage securities to borrow loans for more securities investment. According to Vietcombank Securities Company, in the last few days, the number of securities-backed loans increased 30 percent over [...]

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