Vietnam Business News

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• Southern market settles down
• HCMC: credit growth hits 16.6% in 2010
• Prime Minister approves recalling mistaken VND31Bln subsidy from VIB
• Jan 4: Vietnam gold rises to VND36.24Mln/tael after holiday
• Muscling-up liquidity key task for HoSE
• Jan 4: Vietnam stock kick off new year in green, thin trade
• Vietnamese shrimps export price to US at their highest
• Vietnam cancels multi-million Dollar foreign projects
• Vietnam electricity output +14.9% to 91.6B kWh this year
• Vietnam gas prices rise VND8,000/Cylinder

Southern market settles down Posted: 04 Jan 2011 12:03 AM PST "The medium term outlook for rents is still fairly cloudy as even with 2.5 million square metres, Ho Chi Minh City office market is less than half of other regional centres" With more office space coming online, improved services and a greater awareness of true Grade A quality, 2011 promises to be a competitive and defining [...]

HCMC: credit growth hits 16.6% in 2010 Posted: 04 Jan 2011 12:02 AM PST Total outstanding loans of HCMC lenders were estimated at VND699.8trillion in 2010, up 0.6% from 2009 and 16.6% from early 2010, which is well below the 27.6% credit growth of the whole banking system, the local newswire Dvt.vn reported January 3. Total outstanding loans of joint stock commercial banks made up of 45.7% of the total, [...]

Prime Minister approves recalling mistaken VND31Bln subsidy from VIB Posted: 03 Jan 2011 11:52 PM PST Vietnam's Prime Minister has approved to recall VND31billion worth of interest rate subsidy mistakenly offered by Vietnam International Bank (VIB), the local media Dan Tri reported January 3. As of December 31, 2009, VIB granted VND25,800 trillion worth of subsidized loans, including VND260trillion interest rate subsidy of which SBV has advanced VND230 trillion, the local media [...]

Jan 4: Vietnam gold rises to VND36.24Mln/tael after holiday Posted: 03 Jan 2011 11:49 PM PST Local gold prices on January 4 soared to VND36.24million/tael, up nearly VND250,000 in the wake of the public holiday, the state-run online newspaper VnEcnonomy reported January 4. Meanwhile, dollar prices edged up to VND20,990 in the free market. SJC in Hanoi was listed at VND36.16million/tael and VND36.24million/tael for bid and ask, respectively. Meanwhile, SJC in HCMC [...]

Muscling-up liquidity key task for HoSE Posted: 03 Jan 2011 11:45 PM PST The year 2010 has ended and market regulators have started preparing for 2011. Tran Dac Sinh, Ho Chi Minh Stock Exchange's (HoSE) general director told VIR's Thu Huong that boosting liquidity would be among the key tasks in 2011. What were your views about Vietnam's 2010 stock market development? For 2010, the stock market's key functions of [...]

Jan 4: Vietnam stock kick off new year in green, thin trade Posted: 03 Jan 2011 11:44 PM PST Vietnamese stocks ended up, getting 2011 off to good start as buyers agreed to bid higher on hope of a better 2011 with political changes and after 2010 losing year. The benchmark VN Index gained 1.31 points or 0.27% to 485.97. Volume, however, shank to 29.6 million shares traded for VND741.88 billion compared with 60.09 million [...]

Vietnamese shrimps export price to US at their highest Posted: 03 Jan 2011 11:39 PM PST The price of Vietnamese shrimps exported to the US is the highest compared to other destination markets, according to the Vietnam Association of Seafood Exporters and Processors (VASEP). Following statistics, the price of shrimps exported to the US reached US$12 per kilogram in late 2010, up by 20-30 percent compared to the same period in 2009. This [...]

Vietnam cancels multi-million Dollar foreign projects Posted: 03 Jan 2011 11:37 PM PST Local governments revoked many foreign projects, which showed no signs of getting off the ground due to insufficient capital. STX Vina Industrial Complex developed by South Korea's STX Group in central Khanh Hoa Province: Licensed in 2008, the US$500-million STX Vina complex was known as the biggest foreign-invested project in Van Phong Economic Zone. The 100-hectare complex was [...]

Vietnam electricity output +14.9% to 91.6B kWh this year Posted: 03 Jan 2011 11:36 PM PST Vietnam is estimated to have produced 91.6 billion kWh of electricity this year, according to the General Statistics Office (GSO). The output has risen 14.9% from a year earlier, the GSO attributed. The national power production is estimated at 8.1 billion kWh in December, up 29.6% on year. The country is forecast to face a power shortage of [...]

Vietnam gas prices rise VND8,000/Cylinder Posted: 03 Jan 2011 11:36 PM PST The retail prices of domestic gas have increased by VND8,000 per 12 kilo cylinder to between VND325,000-VND330,000 per cylinder on January 4 morning The retail prices of domestic gas have increased by VND8,000 per 12 kilo cylinder to between VND325,000-VND330,000 per cylinder on January 4 morning, the local newspaper Saigontimes reported December 3, citing local gas [...]

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