Wednesday, January 19, 2011

Vietnam Business News

Vietnam Business News

Vinacomin still aims to sell $500m bond: report

Posted: 18 Jan 2011 09:40 PM PST

Vietnam’s Coal and Mineral Industry Group plans to issue international bonds worth $500 million this year, after delaying the sale last year due to unfavourable conditions, a state-run newspaper said on Monday. The group will apply for government approval to issue bonds to raise funds for major coal, power and bauxite projects this year, the Vietnam [...]


Vietnam to mull 3 steps to fight Dollarization

Posted: 18 Jan 2011 09:36 PM PST

The National Advisory Council On Monetary Policy has proposed the Government three steps to fight "dollarization" in Vietnam which may sharply affect the market, said Le Xuan Nghia, Vice Chairman of the National Financial Supervisory Commission. The National Advisory Council On Monetary Policy has proposed the Government three steps to fight "dollarization" in Vietnam which may [...]


Jan 19: Vietnam gold surges to VND35.7Mln/tael, Dollar down

Posted: 18 Jan 2011 09:36 PM PST

Local gold prices on January 19 morning surged to VND35.7million/tael, up VND100,000 from yesterday close as global gold prices rose to settle above $1,368. Meanwhile, dollar prices fell for the second straight day to VND21,030 in the free market. At 9:08 a.m., Sacombank-SBJ in Ho Chi Minh was listed at VND35.64million/tael and VND35.68million/tael for bid and [...]


Eximbank raises Dollar deposit interest rates to 5.2%

Posted: 18 Jan 2011 09:36 PM PST

Export-import joint stock commercial bank (Eximbank) on January 18 raised dollar deposit interest rates to the highest of 5.2% p.a. for the 36-month product " Savings with Optional Terms", the lender announced on its website. Accordingly, the lender offered an interest rate of above 5% p.a. for any above 3-month dollar deposits, in which interests are [...]


Nuclear future poses challenges

Posted: 18 Jan 2011 09:33 PM PST

Nuclear power is a must for Asia, and Viet Nam is no exception. But cost, limited human resources and a lack of independent regulatory framework are among challenges in turning to nuclear power generation. “How to manage construction costs is a key challenge,” said Francois Nguyen, senior policy advisor of France’s International Energy Agency, on the [...]


New regulation governs bid review process

Posted: 18 Jan 2011 09:32 PM PST

The Ministry of Planning and Investment issued Circular No 01/2011/TT-BKHDT on January 4, governing bid review which are implemented by organisations and individuals authorised by competent agencies. Circular No 01 is intended to assist agencies and units with functions and responsibilities to manage bid processes, to carry out the courses of training on bid, to [...]


Japan eyes farm, retail sectors

Posted: 18 Jan 2011 09:32 PM PST

Viet Nam’s retail, distribution and agriculture production sectors, along with the real estate market, are attracting more interest from Japanese investors in 2011, domestic investment funds say. Japanese companies were investing heavily in foreign countries because of their unstable domestic market, and Viet Nam was one of their priority choices, said deputy director of the Sai [...]


Golden Dragon awards laud top foreign firms

Posted: 18 Jan 2011 09:31 PM PST

Eighty foreign-invested businesses from various sectors will be awarded the Golden Dragon Award for excellent business performances in 2010. The finance, banking and insurance sector excelled with 15 winners, followed by real estate and services with 13. Other awards went to businesses involved in construction and building materials, the automotive industry, agriculture, forestry and fisheries, electronics [...]


Fund exits enable new investments

Posted: 18 Jan 2011 09:31 PM PST

Despite a perception by many in the market that Viet Nam’s private equity focused investment funds have difficulties achieving exits from their investments, a survey conducted by Grant Thornton Vietnam shows that over 150 private equity exits have been achieved in the country since 2003. But, with the tightening of capital markets following the global financial [...]


More firms to deal in puffer fish

Posted: 18 Jan 2011 09:30 PM PST

The Ministry of Agriculture and Rural Development plans to allow more foreign companies to participate in an ongoing programme to export puffer fish after the sole foreign partner stopped imports recently. The ministry chose two provinces — Kien Giang in the Cuu Long (Mekong) Delta and Khanh Hoa on the central coast — to implement the [...]


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