Vietnam Business News

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• Fine tuning a well-oiled machine
• Project 30 releases businesses from complex tangle of red tape
• Tough cure needed for ailing forex market
• Broad brush strokes to paint bright picture
• The end of the light
• The demand for human resources increases in 2011
• Traditional handicrafts feature in France
• US consultancy firm inks deal with Beta Securities
• No immediate plans to pull capital from Bao Viet: SCIC
• Adequate supply forecast to stabilise Tet market

Fine tuning a well-oiled machine Posted: 31 Jan 2011 08:11 PM PST Vietnam achieved 14 per cent industrial production growth in 2010, nearly double the previous year's growth rate. The country will accelerate its industrial production from this year to become an industrialised nation at the end of this decade. Industry and Trade Minister Vu Huy Hoang tells VIR about the key tasks for Vietnam to address [...]

Project 30 releases businesses from complex tangle of red tape Posted: 31 Jan 2011 08:10 PM PST "Personally, Project 30 is an unforgettable memory not only for me, but also to hundreds of governmental staff, lawyers, businessmen, researchers and reporters who have directly and indirectly taken part in the project" Project 30 – or the Master Plan of Administrative Procedure Simplification in the field of state management for 2007-2010, as it is officially [...]

Tough cure needed for ailing forex market Posted: 31 Jan 2011 08:09 PM PST Over the past decade, the trade deficit along with high inflation has been named as the most alarming threat to Vietnam's macroeconomy and to monetary management. From a monetary aspect, the question is how will the exchange rate mechanism help cure this pain? In macroeconomic theory, a local currency depreciation boosts exports and curbs imports as it [...]

Broad brush strokes to paint bright picture Posted: 31 Jan 2011 08:06 PM PST Vietnam's government will use eye-catching colours to draw a brighter agro-forestry-aquatic export picture over the next five years. The Ministry of Agriculture and Rural Development (MARD) said Vietnam's agro-forestry-fisheries sector targeted to reap an annual export turnover of $22 billion between 2011-2015 and an average annual growth rate of 3.5-3.8 per cent during this period. The [...]

The end of the light Posted: 31 Jan 2011 08:06 PM PST The shocking announcement came aloud in the ear of manufacturers when Electricity of Vietnam Group (EVN) unveiled in straightforward terms last Monday that power shortage will be much more critical in this dry season, that longer power supply disruptions are inevitable, and that steel and cement makers look like the first scapegoats. Apart from record low [...]

The demand for human resources increases in 2011 Posted: 31 Jan 2011 08:06 PM PST Despite a lot of difficulties, the demand for human resources was still very high in 2010 and is expected to keep increasing in 2011. Demand is on the rise According to the HCM City Center of Forecasting Manpower Needs and Labor Market Information (FALMI), in 2010, HCM City needed 234,000 workers, the majority of whom (56.41 percent) [...]

Traditional handicrafts feature in France Posted: 31 Jan 2011 08:05 PM PST The Orange Fleurs d'Espoir association (OFE) and the Association of Batik International (ABI) on January 31 opened an exhibition in Paris to introduce traditional brocade weaving products of the Vietnamese ethnic minority people of Mong. Vu Thi Xuan Phuong, chairwoman of ABI, said that the activity aimed to preserve and promote traditional Vietnamese cultural values, especially [...]

US consultancy firm inks deal with Beta Securities Posted: 31 Jan 2011 08:03 PM PST US-based PHI Group, that specialises in raising capital and taking companies public, has announced a co-operation deal with Vietnamese Beta Securities Corp on a range of business activities. Both of the companies intend to initially focus on the common high priority areas such as listing Vietnamese companies abroad, asset management, investment banking and facilitating access for [...]

No immediate plans to pull capital from Bao Viet: SCIC Posted: 31 Jan 2011 08:03 PM PST The State Capital Investment Corporation (SCIC) has no intention of withdrawing capital from HCM City-listed insurer Bao Viet Holdings (BVH) – at the moment. SCIC deputy general director Le Song Lai made the statement to reporters as a response to securities analyst recommendations that state shareholder should offload Bao Viet shares to help reduce its influence [...]

Adequate supply forecast to stabilise Tet market Posted: 31 Jan 2011 08:02 PM PST Stable prices of essential goods as late as a couple of days before the Tet (Lunar New Year) holidays is evidence that the city’s price stabilisation programme has been effectively implemented, senior officials say. Initiated by the HCM City People’s Committee, the programme provided interest-free loans to help 14 enterprises stock enough goods to keep prices [...]

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