Vietnam Business News

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• Phu Yen calls for investment in 24 large projects
• Brazil considers anti-dumping investigation on imported shoes
• Tourist to Hanoi rise 16pct
• Add-on fees push lending interest rates up to 21.5%
• BIDV funds VND400Bln to national money printing factory
• Jan-Nov: State Treasury sells VND68.290tln government bonds by November 23
• Hanoi announces land price frame for 2011
• Netherlands ousts US as top FDI source
• Vietnam’s exports, imports exceed year’s target
• Vietnam probably earns $71b from exports in 2010

Phu Yen calls for investment in 24 large projects Posted: 20 Dec 2010 11:10 PM PST A conference on trade promotion was held by the management board of the Phu Yen economic zone on December 20. At the conference, the management board called for investment in 24 key projects including upgrading Tuy Hoa airport to meet 4C standards, building a highway linking Tuy Hoa airport to Da Dia waterfall and combining aquatic [...]

Brazil considers anti-dumping investigation on imported shoes Posted: 20 Dec 2010 11:09 PM PST The Brazilian Footwear Industry Association (Abicalçados) is preparing a dossier demanding expansion of anti-dumping investigations into the imports of shoes with detachable parts to the country. The Vietnam Trade Office in Brazil says Abicalcados President Milton Cardoso has expressed his concern over Brazil's footwear import growth over the past 11 months from Asian countries such as [...]

Tourist to Hanoi rise 16pct Posted: 20 Dec 2010 11:09 PM PST Hanoi has received 1.2 million foreigners and 10.6 million Vietnamese in 2010, a year-on-year increase of 16 percent, thanks to its successfully organising the 1,000th anniversary and National Tourism Year. Hanoi plans to have 11.8 million to 12 million Vietnamese visitors and 1.8 million to 2 million foreign ones in 2015. To achieve the target, Mai Tien [...]

Add-on fees push lending interest rates up to 21.5% Posted: 20 Dec 2010 11:06 PM PST Lending interest rates at some local banks actually went up to 21.5% p.a. with add-on fees such as asset management fees, appraisal fees, though listed charges hovered at 16.5% p.a. only, the local newswire Tuoi Tre reported December 21. Lending interest rates at some local banks actually went up to 21.5% p.a. with add-on fees such [...]

BIDV funds VND400Bln to national money printing factory Posted: 20 Dec 2010 11:05 PM PST Bank for Investment and Development of Vietnam (BIDV), Thang Long branch on December 20 inked a contract to fund Vietnam National Money Printing Factory VND400billion in forms of credit and underwriting, the local newswire Dvt.vn reported Dec 21. Bank for Investment and Development of Vietnam (BIDV), Thang Long branch on December 20 inked a contract to [...]

Jan-Nov: State Treasury sells VND68.290tln government bonds by November 23 Posted: 20 Dec 2010 11:04 PM PST As of November 23, the State Treasury successfully raised VND68.292,6trillion worth of Government bonds, fulfilling 68.3% the year-target, the local news wire Dau Tu Chung Khoan reported December 21 citing the Ministry of Finance's data. As of November 23, the State Treasury successfully raised VND68.292,6trillion worth of Government bonds, fulfilling 68.3% the year-target, the local news [...]

Hanoi announces land price frame for 2011 Posted: 20 Dec 2010 08:05 PM PST Authorities of the capital city of Hanoi have approved land price frame for next year, which are almost unchanged from this year. The minimum land prices are set at 2.3 million dong ($117.9) per square metre while the prices will be VND81 million ($4,150) at maximum. The minimal price is imposed on land areas along the road [...]

Netherlands ousts US as top FDI source Posted: 20 Dec 2010 08:03 PM PST The Netherlands has overtaken the US as Vietnam’s top source of foreign direct investment this year, the Foreign Investment Agency said. Investors from that country have received licenses to invest in projects worth $2.15 billion, including one involving an investment of $2.14 billion, while US commitments are worth $1.02 billion. The $2.14 billion will be invested in [...]

Vietnam’s exports, imports exceed year’s target Posted: 20 Dec 2010 08:03 PM PST The target of exports and imports in 2010 has been exceeded easily, but trade gap would also exceed $12 billion this year, the state-run online newspaper VnEconomy reported on December 17. Statistics from the general Department of Vietnam Customs showed that during the first 11 months this year, the country’s export turnover reached $64.5 billion, up [...]

Vietnam probably earns $71b from exports in 2010 Posted: 20 Dec 2010 08:03 PM PST Based on favourable prices and export markets, Vietnam’s export turnover in 2010 will probably reach $71 billion, up 23 percent year-on-year, the Thoi Bao Kinh Te Saigon Online reported, citing Ministry of Industry and Trade’s Planning Department. In December, export price of cashew surges 21 percent, tea +11 percent, pepper +40 percent, rice +4.8 percent and [...]

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