Vietnam Business News

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• Apartments in PetroVietnam Green House offered to public
• Steel and cement sectors must minimise electricity use
• Red colour covers both bourses January 24
• Debate on AT Kearney’s report on Vietnam’s retail market
• PGBank posts 218b dong profit in 2010
• Establishment of trust property mooted by ministry of construction
• Two joint venture banks get approval for hiking chartered capital
• Work starts on hydro-electric power plant in central Viet Nam
• South lacks capital to boost energy grid
• Seafood processors waste energy, says study

Apartments in PetroVietnam Green House offered to public Posted: 24 Jan 2011 12:32 AM PST Hung Gia Viet Real Estate Co announced on January 21, 2011 to officially offer the apartments in PetroVietnam Green House project to public. The PetroVietnam Power Real Estate Joint Stock Co was the main investor of this project, with total investment capital of about 600 billion dong. The project was sited in an area of 8,000 [...]

Steel and cement sectors must minimise electricity use Posted: 24 Jan 2011 12:31 AM PST This is the first time pressure of supplying power for the two industries has actively been discussed, before the risk of 2011’s power shortage, which is forecasted to be two to three times more serious than last year. The meeting was chaired by deputy minister of Industry and Trade Hoang Quoc Vuong last week, with the [...]

Red colour covers both bourses January 24 Posted: 24 Jan 2011 12:29 AM PST The first trading session of the last week before the coming Lunar New Year holiday was predicted to be quiet as the investors were busy preparing to welcome Tet Holiday. The investors showed interest about CPI reports and interest rates from the bank. At present, BVH-coded share price surpassed the threshold of 100,000 dong per share, [...]

Debate on AT Kearney’s report on Vietnam’s retail market Posted: 24 Jan 2011 12:29 AM PST In two consecutive years, Vietnam’s retail market has been downgraded in the AT Kearney report, from the position No. 1 in 2008 to No. 6 in 2009 and 14th in 2010. “Downgrading” of Vietnam’s retail market is attracting many discussions, offering a reasonable sense whether the country’s retail market is worsening. Every year, AT Kearney – US [...]

PGBank posts 218b dong profit in 2010 Posted: 24 Jan 2011 12:27 AM PST Ending 2010, Petrolimex Group Commercial Joint Stock Bank (PG Bank) has opened 64 branches and transaction offices in key economic areas nationwide, diversified the capital sources and gained profit of 218 billion dong. Till December 31, 2010, PG Bank’s total assets reached 17.2 trillion dong, up 161 percent year-on-year, total outstanding loans at 11.081 trillion dong [...]

Establishment of trust property mooted by ministry of construction Posted: 24 Jan 2011 12:27 AM PST Each year, Vietnam’s real estate market needs about $20 billion investment capital, whereas in reality, all the channels for capital mobilisation have so far failed to meet this demand, according to Lao Dong newspaper. As recommended by the Ministry of Construction, the establishment of trust property will contribute to flow off capital in this very potential [...]

Two joint venture banks get approval for hiking chartered capital Posted: 24 Jan 2011 12:26 AM PST The State Bank of Vietnam (SBV) has lately approved for two joint venture banks of VinaSiam Joint Venture Bank (VSB) and Vietnam Russia Joint Venture Bank (VRB). Accordingly, VSB’s chartered capital will be raised from $61 million to $161 million in 2011, using the capital contribution from the bank’s partners of Agribank ($34 million), Siam Commercial [...]

Work starts on hydro-electric power plant in central Viet Nam Posted: 23 Jan 2011 08:36 PM PST Viet Nam Oil and Gas Group (PetroVietnam) and Dakdrinh Hydro-Power JSC started the construction of the Dadrinh Hydro-power Plant in Quang Ngai Province yesterday. Located in Son Tay District’s Son Dung Commune and Kon Tum Province’s KongPlong District on the Tra Khuc River, the 125MW will be the biggest hydro-power plant in Central Viet Nam. The first [...]

South lacks capital to boost energy grid Posted: 23 Jan 2011 08:36 PM PST The Viet Nam’s south will need between VND 7 and 8 trillion (US$350-400million) each year by 2015 for developing transmission networks to meet the increasing demand. The Southern Viet Nam Power Project Management Board (SPPMB) said that transmission demand in the southern key economic zone including HCM City and neighbouring provinces is grew at about 15 [...]

Seafood processors waste energy, says study Posted: 23 Jan 2011 08:35 PM PST Cuu Long (Mekong) Delta seafood processors, which are leading export industries, use energy inefficiently, according to a new survey. The survey was conducted in 11 shrimp and 10 tra fish processing factories in the Cuu Long (Mekong) Delta by International Finance Corporation (IFC), in co-operation with the Viet Nam Association of Seafood Exporters and Producers (VASEP). “Our [...]

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