Vietnam Business News

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• VN Index posts technical gain, 470 threshold protected
• Vietnam CPI rises 2.09% in Feb: GSO
• Vietnam, Japan cooperate in core technology development
• Manulife eyes new business
• Vietnam Dong edges down on weaker reference rate
• Vietnam rice export estimated to reach $300Mln as of Feb 15
• Vietnam cuts import tax on mazut and kerosene to zero
• Vietnam puts curbing inflation top priority in 2011: Govt
• Further cbank moves expected post-devaluation
• Ministry says there’ll be no petrol shortage

VN Index posts technical gain, 470 threshold protected Posted: 23 Feb 2011 12:29 AM PST Vietnam's stocks snapped the free-fall loss with a slight gain today and the resistance 470 was defended well on broad-based recovery as local investors hunted bargains. The benchmark VN Index added 0.65 point or 0.13% to 470.67. Volume fell to 36.92 million shares traded for VND808.24 billion compared with 52.16 million shares valued at VND1,157 billion [...]

Vietnam CPI rises 2.09% in Feb: GSO Posted: 23 Feb 2011 12:29 AM PST Vietnam consumer price index(CPI) in February is estimated to have surged 2.09% from January Vietnam consumer price index(CPI) in February is estimated to have surged 2.09% from January, the General Statistics Office of Vietnam said. The CPI figure is close to the earlier 2% estimation of the Ministry of Industry and Trade and other local offices. February increase [...]

Vietnam, Japan cooperate in core technology development Posted: 23 Feb 2011 12:02 AM PST The Vietnam National Institute of Software and Digital Content Industry and the Core Technology Development Centre of Japan's Panasonic System Networks Co. Ltd. will cooperate in the development of core technology. A memorandum of understanding (MoU) to the effect was signed in Hanoi on February 22. At the signing ceremony, Minister of Information and Communications Le Doan [...]

Manulife eyes new business Posted: 22 Feb 2011 10:32 PM PST The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) is venturing into microinsurance, becoming the first foreign insurer to do so. Company officials are now holding talks with possible distribution partners, noting the importance of a wide distribution network for the low-cost product targeted at the poor. David S. Wong, Manulife Financial Corp. senior vice president and [...]

Vietnam Dong edges down on weaker reference rate Posted: 22 Feb 2011 10:32 PM PST Vietnamese dong on February 23 edged down for the second straight day, as the State Bank of Vietnam (SBV) weakened the reference rate midpoint to VND20,683 from VND20,678 yesterday. Given the latest midpoint rate, dollar prices could move between 20,476 and 20,890 in interbank transactions, within the central bank-imposed daily trading band of +/-1%. Dollar prices are [...]

Vietnam rice export estimated to reach $300Mln as of Feb 15 Posted: 22 Feb 2011 10:31 PM PST Vietnam is estimated to export $300 million worth of 600,000 tons of rice as of the February 15 Vietnam is estimated to export $300 million worth of 600,000 tons of rice as of the February 15, the online newspaper Nguoilaodong reported on February 23, citing the Vietnam Food Association(VFA). VFA has planned to purchase 1 million tons [...]

Vietnam cuts import tax on mazut and kerosene to zero Posted: 22 Feb 2011 10:30 PM PST The Ministry of Finance(MoF) has issued Circular No 24/2011/TT-BTC to guide the implementation of import tax cuts for mazut and kerosene in 2710 group. In details, import tax on mazut and kerosene fell to 0% from previous 2%, MoF said. Ealier, on January 14, MoF cut import tax on gasoline fell to 0% from previous 6%, [...]

Vietnam puts curbing inflation top priority in 2011: Govt Posted: 22 Feb 2011 10:30 PM PST The Vietnamese government sets top priority for curbing inflation and stabilizing its macro economy and social security, Nguyen Tan Dung, Prime Minister of Vietnam said at the cabinet on stabilizing macro economy on late February 22. At first step, the Prime Minister has approved that the State Bank of Vietnam have carried out the tightening policy [...]

Further cbank moves expected post-devaluation Posted: 22 Feb 2011 08:25 PM PST The Vietnamese dong has continued to decline in unofficial trade after the February 11 devaluation, a sign that the central bank should be doing more to calm the foreign exchange market, bankers said on Monday. The dong fell to 22,200/22,300 a dollar at a major gold shop in Hanoi at 0235 GMT on Monday from 21,600/21,700 [...]

Ministry says there’ll be no petrol shortage Posted: 22 Feb 2011 08:23 PM PST The Ministry of Industry and Trade has confirmed there would be enough fuel to meet the needs of production and domestic consumption this year. The ministry said importers were committed to their plans and wholesalers had been asked to ensure an even distribution of fuel to petrol stations. Meanwhile, the ministry’s Market Management Department will continue probing [...]

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