Thursday, January 20, 2011

Vietnam Business News

Vietnam Business News

Countries promote regional tourism initiative

Posted: 19 Jan 2011 10:09 PM PST

Vietnam, Laos, Cambodia and Myanmar will jointly produce a documentary titled, "Four countries one destination" with the aim of promoting the countries' tourism industry and strengthening their cooperation in the field. The film is part of the national action programme in tourism and the national tourism promotion programme in 2010 initiated by Vietnam. Covering a tour [...]


Saigon Co.op signs deal to spur farm produce quality

Posted: 19 Jan 2011 10:06 PM PST

The country’s leading retailer Saigon Co.op signed an agreement with the Food and Agricultural Products Quality Development and Control Project on Monday to control the quality of agricultural products supplied to consumers. Under the deal, Saigon Co.op will apply Good Production Practices to improve the quality of agricultural products based on the overall approach throughout the [...]


Prudential invests more $10m in Vietnam

Posted: 19 Jan 2011 10:04 PM PST

Prudential has recently pledged to invest more $10 million in Vietnam via Prudence Vietnam Fund with a duration of five years for public social activities only. Currently, the detailed plan of this investment has not revealed yet. According to Jack Howell, Prudential Vietnam Insurance Co’s general director, the investment for education will account for 35 percent. Right [...]


Vietnam communists support Dung re-election amid inflation risks

Posted: 19 Jan 2011 10:04 PM PST

Vietnam’s prime minister Nguyen Tan Dung is set to serve a second term after the Communist Party elected him to its highest body, a selection welcomed by investors who say he’ll promote policies to curb inflation and shore up government finances. The Communist Party’s Central Committee re-appointed Dung to the 14-member governing Politburo, Politburo member Truong [...]


Vietnam’s Kinh Bac City plans 2tr dong bonds

Posted: 19 Jan 2011 10:03 PM PST

Kinh Bac City Development Share Holding Corp., Vietnam’s third-biggest property company by market value, plans to sell two trillion dong (US$103 million) of bonds in the second quarter to fund property projects. “The economy is expected to keep recovering strongly this year and it’s time to borrow money for investment,” Chair Dang Thanh Tam said in [...]


Businesses optimistic about 2011 capital sources

Posted: 19 Jan 2011 10:00 PM PST

Local businesses believe foreign investment will soon pour back into the Vietnamese market, both directly and indirectly, after a year of macroeconomic instability. The real estate market is always promising to investors despite its current drawbacks like capital shortage, high interest rates, and tightened financial policies, Louis Nguyen, CEO of the Saigon Asset Management Corporation, said. He [...]


Jan 20: Vietnam gold turns round to VND35.62Mln/tael, Dollar down

Posted: 19 Jan 2011 09:56 PM PST

Local gold prices on January 19 morning eased to VND35.7million/tael, down VND50,000-VND60,000 from last close as global gold prices edged down to $1,368.45, snapping a three-day winning run. Dollar prices also fell to VND21,000 in the free market. At 9:23 a.m., Sacombank-SBJ in Ho Chi Minh was listed at VND35.56million/tael and VND35.62million/tael for bid and ask, [...]


Jan 20: Vietnam stocks rise for seventh day led by blue chips

Posted: 19 Jan 2011 09:55 PM PST

Vietnamese stocks extended their gaining streak to seven days in the row, leaving 500 threshold behind with support from heavy-weighed blue chips and foreigners' buying. The benchmark VN Index gained 6.07 points or 1.19% to 511.98. Volume eased to 41.2 million shares traded for VND 1.067 trillion compared with 42.89 million shares traded for VND 1.147 [...]


HCM city CPI rises 1.01% in Jan 2011: GSO

Posted: 19 Jan 2011 09:53 PM PST

Ho Chi Minh City consumer price index (CPI) is forecast to have increased by 1.01% on-month and 9.29% on-year in the first month of 2011 on demand-push factors. Ho Chi Minh City consumer price index (CPI) is forecast to have increased by 1.01% on-month and 9.29% on-year in the first month of 2011 on demand-push factors [...]


Transparency, key to corruption fight

Posted: 19 Jan 2011 09:51 PM PST

By simplifying land-related administrative reforms and increasing transparency and the accountability of people involved with such deals would help eradicate land-management corruption in Viet Nam. Partipants heard this argument and others at anti-corruption conference yesterday in the capital. The statement was made after the Danish and Swedish embassies and the World Bank published two reports concerning recognising [...]


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