Vietnam Business News

---

• VietinBank’s remittance service accounts for over 15pct market share
• Vietnam banking industry cautious in 2011
• Nation imports US$160 million in cattle feed
• Promising economic signals in New Year
• Rail upgrade begins
• Optimism over foreign investment
• Potential for mollusc exports in 2011
• More grass to be grown for herbivores
• Listed firms post fourth-quarter losses
• HCM City looks to improve services

VietinBank’s remittance service accounts for over 15pct market share Posted: 09 Feb 2011 09:28 PM PST In 2010, although the economy has not overcome the crisis yet, there were some signals of the recovery, as the income of Vietnamese overseas people was improved. The total amount of remittance transferred to Vietnam is estimated at about $8 billion. Of which, the total inward remittance sent to Vietnam via Vietnam Commercial Joint Stock [...]

Vietnam banking industry cautious in 2011 Posted: 09 Feb 2011 09:28 PM PST The amended Law on Credit Institutions which took effect from January 01, 2011 has set operation targets for commercial banks. It gives a direction to the banks to comply with this law and make sure the direction of the market will stabilise and be more careful, according to Dien Dan Doanh Nghiep newspaper on February [...]

Nation imports US$160 million in cattle feed Posted: 09 Feb 2011 08:38 PM PST Vietnam spent nearly US$160 million importing cattle feed in the first month of the year, replicating 2010's figures, announced the Ministry of Agriculture and Rural Development. According to cattle feed producers, import value would be much greater due to the importation of corn and wheat for cattle feed processing. Last year, Vietnam spent over US$2.17 billion importing [...]

Promising economic signals in New Year Posted: 09 Feb 2011 08:37 PM PST January ended with high growth rates in key economic sectors, forming a rosy picture of the national economy in 2011. Official statistics show that industrial output increased by 16.1 percent year on year to US$3.76 billion with liquefied gas leading the way with a growth of 36.2 percent. Although foreign direct investment (FDI) was just 15.7 percent [...]

Rail upgrade begins Posted: 09 Feb 2011 08:36 PM PST The Viet Nam Railway Corporation started work to strengthen railway infrastructure on the North-South route in central Ha Tinh Province yesterday following instructions from Prime Minister Nguyen Tan Dung. The section was seriously damaged in the historic floods and storms last October. The VND120 billion (US$6.1 million) project will include the replacement of damaged tracks and an [...]

Optimism over foreign investment Posted: 09 Feb 2011 08:36 PM PST Viet Nam’s Foreign Investment Agency (FIA) was optimistic about the level of foreign investment in Viet Nam this year, predicting 10 per cent growth on last year. FIA said in the first month, total registered foreign investment reached approximately US$1.2 billion, four times higher than the same period last year. The bulk of the investment so far [...]

Potential for mollusc exports in 2011 Posted: 09 Feb 2011 06:29 PM PST Vietnam's mollusc exports reached 125,000 tonnes, earning US$489 million and accounting for 9.7 percent of the seafood exports in 2010, says the Vietnam Association of Seafood Exporters and Producers (VASEP). Of the total, 100,000 tonnes of unprocessed products earned as much as US$400 million or 82 percent of the total value. The country now has 442 businesses [...]

More grass to be grown for herbivores Posted: 09 Feb 2011 06:28 PM PST The livestock sector plans to increase its acreage of pastures from 290,000 ha to 509,000 ha by 2020 in an effort to provide an extra 150 million tonnes of grass for animal breeding each year. Hoang Kim Giao, Head of Livestock Production Department under the Ministry of Agriculture and Rural Development, said the sector will draw [...]

Listed firms post fourth-quarter losses Posted: 09 Feb 2011 06:27 PM PST Over half of listed companies on the nation’s stock exchanges have released their financial statements for last year, and over a dozen firms on the HCM City Stock Exchange reported losses in the fourth quarter, according to financial information portal Vietstock. Among these, Pha Lai Thermal Power Co (PPC) incurred the heaviest losses of almost VND553 [...]

HCM City looks to improve services Posted: 09 Feb 2011 06:26 PM PST A pilot project to promote service science, an inter-disciplinary approach to the study, design, and implementation of services systems, will begin this year in HCM City to increase quality and added-value in the services sector. Viet Nam News spoke to Deputy Minister of Science and Technology Nguyen Van Lang about it. Can you define how the [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610