Vietnam Business News

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• Jan 17: Vietnam stocks top 490 as heavy weigh blue chips rise
• Transport firms show poor returns
• EU and Vietnam set to sign up for fruitful 2011
• Dry season threatens power shut down for southern firms
• Investors put faith in animal feed
• Oman and Vietnam talk business
• PIT thresholds adjusted
• New law paves way for stronger bond market
• Siemens sizes up future projects in Vietnam
• Life insurance still a foreign affair: AVI

Jan 17: Vietnam stocks top 490 as heavy weigh blue chips rise Posted: 17 Jan 2011 01:23 AM PST Vietnamese stocks extended their gaining streak as investors continued to bet on hopes of sustainable rally in the election year and the Communist Party Congress will release its picks for 5 year term leaders this week The benchmark VN Index gained 5.94 points or 1.21% to 495.16. Volume surged to 43.8 million shares traded for VND [...]

Transport firms show poor returns Posted: 16 Jan 2011 09:44 PM PST Many Vietnamese state-owned civil engineering construction businesses are not developing as quickly as they might be expected. Ministry of Transport (MoT) information reveals that for many transport engineering businesses current figures for ownership capital size and return on revenue rate are not dissimilar to those of several years ago. "Our equity capital would contract a minus figure [...]

EU and Vietnam set to sign up for fruitful 2011 Posted: 16 Jan 2011 09:43 PM PST A cooperation agreement and free trade deal discussion will help accelerate the relationship between the European Union and Vietnam in 2011, EU ambassador to Vietnam Sean Doyle said last week. "Building on recent agreements and on strong growth both in Vietnam's exports to Europe and in Europe's investment in Vietnam, both sides can look forward to [...]

Dry season threatens power shut down for southern firms Posted: 16 Jan 2011 09:43 PM PST Continued power cuts are expected to hit enterprises in southern Binh Duong province's industrial parks more severely this year. Electricity of Vietnam said last week that Vietnam would continue to face a power shortage of at least 3 billion kilowatt hours in 2011 because of the scarcity of water in reservoirs, especially during the dry season [...]

Investors put faith in animal feed Posted: 16 Jan 2011 09:42 PM PST Foreign investors are looking to make the most of Vietnam's lucrative animal feed industry in 2011. US-backed Cargill Group is one of many foreign investors doing big animal-feed business in the country. Its branch general director in Vietnam, Nguyen Minh Tri, told VIR that Cargill would build two more large animal feed mills during 2011. One [...]

Oman and Vietnam talk business Posted: 16 Jan 2011 09:42 PM PST Oman is keen to invest billions of dollars in Vietnam, according to Minister of Commerce and Industry Maqbool bin Ali bin Sultan During his visit to Vietnam last week to attend the Vietnam-Oman Joint Commission, the minister said that Oman abounded in investment capital and wanted to increase investment in Vietnam. Oman's investors were particularly interested in [...]

PIT thresholds adjusted Posted: 16 Jan 2011 09:41 PM PST The Personal Income Tax (PIT) Law is likely to be amended in 2011 with aims to lowering the burden on taxpayers all over the country. A representative of the Ministry of Finance (MoF)'s Tax Policy Department said a document had been sent to enterprises and local tax authorities on entanglements when implementing the PIT Law, which [...]

New law paves way for stronger bond market Posted: 16 Jan 2011 09:41 PM PST Decree 01/2011/ND-CP on issuing sovereign bonds, government-guarantee debts and local governance debts will take effect from February 20, 2011, and it is expected to boost the development of Vietnam's bond market. VIR talked with Do Ngoc Quynh, general secretary of Vietnam Bond Market Association, about this decree. What is new in this decree compared with the previous [...]

Siemens sizes up future projects in Vietnam Posted: 16 Jan 2011 09:40 PM PST "I've been very impressed by efforts by the Vietnamese Government to improve the business environment." Siemens Vietnam last week reported a successful year of operation with overall revenue of 241 million euros in 2010. Of that, the revenue in product business of the German firm increased by 20 per cent last year. Siemens Vietnam's CEO and general [...]

Life insurance still a foreign affair: AVI Posted: 16 Jan 2011 09:39 PM PST Foreign companies have long dominated the local life insurance market, and the trend shows no signs of reversing, according to data from the Association of Vietnamese Insurers (AVI). AVI's data suggests that total life insurance premiums in 2010 reached VND13.2 trillion ($663 million). This represented a 15 per cent year-on-year increase. Phung Dac Loc, AVI general secretary, [...]

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