Vietnam Business News

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• Government stands firm on petrol prices
• Coffee sector seeks the right brew
• IMF welcomes Vietnam devaluation, calls for more steps
• European businesses more confident in Vietnam: survey
• Vietnam should let private investors be involved in managing SOEs
• Oil-rich province sees first New Year investors
• 4,000 tonnes of goods pass over border gate
• Market ignores currency change
• Operations begin at Binh Dinh terminal
• Property trading floors under fire

Government stands firm on petrol prices Posted: 12 Feb 2011 12:58 AM PST Petroleum traders in Vietnam will be bound to keep petroleum prices at current levels for now, but will receive financial support. Nguyen Tien Thoa, head of the Ministry of Finance’s Department of Price Management, made the request on the issue on February 10, showing the ministry's determination to maintain prices of petroleum, a staple in the [...]

Coffee sector seeks the right brew Posted: 12 Feb 2011 12:57 AM PST Starting from March 10, 2011 the Buon Ma Thuot Coffee Exchange Centre (BCEC) will reportedly experiment with Robusta coffee futures transactions. VIR spoke with BCEC deputy director Vo Thanh Chau about preparations for the new service. Could you brief us about the futures coffee transaction model? Futures coffee transactions allow coffee growers pre-plan their production activities. For [...]

IMF welcomes Vietnam devaluation, calls for more steps Posted: 12 Feb 2011 12:56 AM PST The International Monetary Fund welcomed changes to Vietnam’s currency regime and devaluation on Friday, but said the authorities needed a “broader set of policies” to restore macroeconomic stability. The International Monetary Fund welcomed changes to Vietnam’s currency regime and devaluation on Friday, but said the authorities needed a “broader set of policies” to restore macroeconomic stability. “We [...]

European businesses more confident in Vietnam: survey Posted: 12 Feb 2011 12:52 AM PST Confidence and outlook among European businesses in Vietnam has increased given good indicators for Vietnam's economy in 2011, the European Chamber of Commerce in Vietnam (EuroCham) said on Thursday. Results of the EuroCham Business Climate Index survey, which was conducted last month and released on Thursday, unveiled better confidence of the organization's member businesses operating in [...]

Vietnam should let private investors be involved in managing SOEs Posted: 12 Feb 2011 12:52 AM PST Professor David Dapice, a senior economist at Harvard University’s John F. Kennedy School of Government, who conducts research with the Vietnam Program, talks with VietNamNet's Vietnam Economic Forum about economic reforms in Vietnam, especially on how to enhance the effectiveness of State-owned Enterprises (SOEs). According to Professor Dapice, SOEs in Vietnam are granted with a [...]

Oil-rich province sees first New Year investors Posted: 12 Feb 2011 12:50 AM PST The southern coastal province of Ba Ria-Vung Tau granted licences to 12 investment projects on February 11, the fourth working day of the Year of the Cat. Eight of them are domestic investment capitalised at over VND4.3 trillion (roughly US$ 219.3 million) and the other four with a combined investment of US$70 million are foreign invested. [...]

4,000 tonnes of goods pass over border gate Posted: 12 Feb 2011 12:47 AM PST Over 4,000 tonnes of agricultural products were exported in the first-working day of the new year at Tan Thanh border gate in the northern Viet Nam-China border area, the customs department reported. The border gate in the Van Lang District in the mountainous province of Lang Son re-opened on February 10. Products passing through included watermelon, longan, [...]

Market ignores currency change Posted: 12 Feb 2011 12:47 AM PST The State Bank announcement to change the inter-bank foreign exchange rate to VND20,693 against the US dollar, instead of the previous VND18,932 has had little effect on the sharemarket because it was expected. The bank also narrowed the trading band for the VND/USD exchange rate to ± 1 per cent from ± 3 per cent. In HCM [...]

Operations begin at Binh Dinh terminal Posted: 12 Feb 2011 12:46 AM PST The Tan Cang terminal in central Binh Dinh province welcomed its first vessel on Tuesday. The container terminal, a subsidiary of Sai Gon Newport Corporation, can handle ships up to 15,000 deadweight tonnage. The terminal will draw commodities from southern central provinces and Laos as well as providing a link with to other areas and Europe.

Property trading floors under fire Posted: 12 Feb 2011 12:45 AM PST The Ministry of Construction has set alarm bells ringing across the country about the way business is conducted on property transaction floors after fining 36 centres. At the end of last month, the ministry imposed fines on 25 property transactions floors in Ha Noi and 11 in HCM City including well known names such as CEN [...]

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