Vietnam Business News

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• Jan 24: Vietnam gold rebounds to VND35.46Mln/tael, Dollar flat
• Local lenders post stunning high profits and bonuses in 2010
• Overseas remittance to Vietnam reaches $150Mln as of Jan 20
• Viet Kieu bring money, but also knowledge and technology
• Adjusting imports to ease reliance on China
• Investors will keep injecting money in retail
• Adjusting imports to ease reliance on China
• Vietnam, Japan sign ODA agreements
• 80 FDI businesses receive Gold Dragon Awards
• Real estate market to be stable and transparent in 2011: market experts

Jan 24: Vietnam gold rebounds to VND35.46Mln/tael, Dollar flat Posted: 24 Jan 2011 09:28 AM PST Local gold prices on January 24 rebounded to VND35.46million/tael, up VND130,000 from last close as global gold prices rose after falling for two consecutive days. Meanwhile, dollar prices stayed flat at VND21,050 in the free market. At 1:58p.m., Sacombank-SBJ in Ho Chi Minh was listed at VND35.35million/tael and VND35.41million/tael for bid and ask, respectively. Bid and ask [...]

Local lenders post stunning high profits and bonuses in 2010 Posted: 24 Jan 2011 09:15 AM PST Local lenders have posted impressive high profits and bonuses for 2010 despite turbulences in the money market, the online newspaper Tien Phong reported January 24. High Profits Vietinbank was the first state-owned lender to announce its pre-tax profits which reached up to VND4.5trillion in 2010, meeting 133.4% of its year-target and contributing VND1.4trillion to the state budget. Vietcombank's [...]

Overseas remittance to Vietnam reaches $150Mln as of Jan 20 Posted: 24 Jan 2011 09:14 AM PST Overseas remittance to Vietnam during the run-up to the Lunar New Year reached $150million in the first 20 days of January, almost triple that in the previous year, the local newswire Tuoi Tre reported. Overseas remittance to Vietnam during the run-up to the Lunar New Year reached $150million in the first 20 days of January, almost [...]

Viet Kieu bring money, but also knowledge and technology Posted: 24 Jan 2011 08:54 AM PST Hundreds of thousands of Viet Kieu (overseas Vietnamese) have been flocking to Vietnam from all over the world in order to celebrate Tet in the homeland. In their luggage they bring back not only the capital they have saved, but also the knowledge and technologies they have learned, which they will use in doing [...]

Adjusting imports to ease reliance on China Posted: 24 Jan 2011 08:54 AM PST It's necessary to adjust the structure of imports from China in order to ease the trade deficit and march towards balancing trade with Vietnam's largest trading partner, according to Bui Huy Son, Director of the Trade Policies for Asia Pacific under the Ministry of Industry and Trade. The trade deficit with China is now [...]

Investors will keep injecting money in retail Posted: 24 Jan 2011 08:34 AM PST Vietnam's retail market remains very attractive in the eyes of foreign investors, even though Vietnam's GRDI (the global retail development index) in 2010 fell by eight grades in comparison with 2009. According to the latest GRDI report released by AT Kearney, Vietnam is the 14th most attractive retail market in the world, a fall of eight [...]

Adjusting imports to ease reliance on China Posted: 24 Jan 2011 08:33 AM PST It's necessary to adjust the structure of imports from China in order to ease the trade deficit and march towards balancing trade with Vietnam's largest trading partner, according to Bui Huy Son, Director of the Trade Policies for Asia Pacific under the Ministry of Industry and Trade. The trade deficit with China is now very big, [...]

Vietnam, Japan sign ODA agreements Posted: 24 Jan 2011 08:32 AM PST The Ministry of Finance and Japan International Cooperation Agency (JICA), on January 24 in Hanoi, signed three agreements on Japan's Official Development Assistance (ODA) for projects under the 2010 fiscal year's first commitment. These projects included the 9th Poverty Reduction Support Credit (PRSC 9), additional loans for the Nhat Tan Bridge II project, and additional loans [...]

80 FDI businesses receive Gold Dragon Awards Posted: 24 Jan 2011 08:31 AM PST Eighty foreign-invested businesses from various sectors were presented with the Golden Dragon Award in Hanoi on January 23 for their excellent business performances in 2010. This annual awards ceremony was organised by the Ministry of Planning and Investment’s Foreign Investment Agency and Vietnam Economic Times to honour outstanding FDI businesses. At the ceremony, Professor Dao Nguyen Cat, [...]

Real estate market to be stable and transparent in 2011: market experts Posted: 24 Jan 2011 08:03 AM PST Economic and market analysis experts assessed that in 2011, with the existence of real estate index in big cities, real estate market is expected to be stable and transparent. In addition, merger and acquisition (M&A) trend would also create new dynamics to the market. Increasing M&A trend In the recent time, VinaCapital Investment Fund sold 70 percent [...]

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