Vietnam Business News

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• First thermal power plant of Vietnam’s western region starts construction
• Vietnam in top four emerging property markets: AFIRE
• Vietnam eyes 6pct increase in foreign arrivals in 2011
• Vietnam’s export prospects in 2011
• Stock market goes down January 07
• Clubs of $1b in Vietnam
• Vietnam tops list of 10 most optimistic nations: Survey
• Vietnam textile and garment exports cross $11.2b in 2010
• More state groups to be audited in 2011
• Vietnam groups face sharp rise in borrowing costs

First thermal power plant of Vietnam’s western region starts construction Posted: 06 Jan 2011 11:18 PM PST PetroVietnam, the national oil and gas group, on January 5 kicked off construction on first 1,200MW thermo power plant in the western province of Soc Trang following the completion of its central infrastructure. Attending the ceremony was deputy prime minister Truong Vinh Trong. The plant is located in Long Phu 1, Long Duc Commune, Long Phu [...]

Vietnam in top four emerging property markets: AFIRE Posted: 06 Jan 2011 11:18 PM PST Vietnam is attracting attention of international investors as it becomes part of top four emerging real estate markets. Association of Foreign Investors in Real Estate (AFIRE) has released report on global real estate market, according to which Vietnam ranks the fourth in the emerging markets about the level of attractiveness to foreign investors. AFIRE’s survey was conducted [...]

Vietnam eyes 6pct increase in foreign arrivals in 2011 Posted: 06 Jan 2011 11:17 PM PST Vietnam’s tourism industry has set a target of 5.3 million international visitors to the country this year and $5.64 billion in total revenues after a well-performing 2010. It also expects to serve 30-31 million domestic travellers and earn 110 trillion dong, (US$5.64 billion) in revenues, which would account for 4.5 percent of the nation’s GDP. As one [...]

Vietnam’s export prospects in 2011 Posted: 06 Jan 2011 11:16 PM PST In 2011, Vietnam targets to reach total export turnover of about $78.8 billion, up over 10 percent from 2010’s. In order to achieve this target, according to economists, the orientation of key export items this year will include the group of materials with crude oil export at eight million tonnes, coal export at 15 million tonnes. As [...]

Stock market goes down January 07 Posted: 06 Jan 2011 11:15 PM PST Before opening the trading session today January 07, there were not any favourable information from the macro front. Meanwhile, according to the specialists, after gaining points in the previous trading sessions, the stock market showed more positive signals. At the time of opening the trading session today, the transactions on both bourses Hochiminh Stock Exchange (STC) [...]

Clubs of $1b in Vietnam Posted: 06 Jan 2011 11:14 PM PST To date, more than 70 nations and territories have had foreign direct investment (FDI) projects in Vietnam and nearly one third amongst them have pledged FDI capital of from $1 billion or more. They are called the club of $1 billion foreign investors in Vietnam. If reviewing from 1988 till the end of 2010, this club has [...]

Vietnam tops list of 10 most optimistic nations: Survey Posted: 06 Jan 2011 11:13 PM PST Vietnam tops the list of 10 most optimistic nations in the world, according to a survey conducted in late 2010 by the France-based BVA Institute. The survey’s results, which were published by the Le Parisien newspaper on January 3, show that Vietnam ranks first among more than 50 surveyed nations with a proportion of over 61 [...]

Vietnam textile and garment exports cross $11.2b in 2010 Posted: 06 Jan 2011 11:13 PM PST With export turnover of more than $11.2 billion in 2010, textile and garment sector has let the footwear sector behind and become the key economic sector of Vietnam. However, deputy general director of the Vietnam Garment & Textile Group Le Tien Truong said that there are many shortcomings in textile and garment sector, particularly productivity issue. [...]

More state groups to be audited in 2011 Posted: 06 Jan 2011 11:13 PM PST In 2011, the State Audit of Vietnam (SAV) plans to make 151 audits for enterprises in sectors of banking and finance. As planned, SAV will check the fiscal report of 27 economic groups, corporations and commercial banks. Of which, 15 state groups and corporations are included into the list such as Vietnam Shipbuilding Industry Group (Vinashin), [...]

Vietnam groups face sharp rise in borrowing costs Posted: 06 Jan 2011 11:11 PM PST When state-owned shipbuilder Vinashin failed to repay a foreign loan last month, it capped a dramatic fall from grace for a company once hailed as the model for a new breed of conglomerates spearheading Vietnam’s economic development. Its $60m debt default has also made life a lot harder for the many Vietnamese businesses desperate for capital [...]

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