Vietnam Business News

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• Denmark supports private businesses
• Local coffee firms cry foul at foreign rivals
• Rice export: MOIT and VFA still take no actions
• India has stopped exporting animal feed to Vietnam? It’s just intimidation
• Trillion-dong bank club
• Total outstanding loans of HCM City banks reach 730tr dong in Feb
• Transport companies threaten to raise fees
• Vietnam commits to facilitation of foreign investors
• SBV says lower credit growth rate will not affect production sector
• Vietnamese businesses praise investment prospects in Laos

Denmark supports private businesses Posted: 27 Feb 2011 12:36 AM PST The Businesses Association in the southern province of An Giang on February 25 held a seminar on the implementation of a project called "The Global Competitiveness Facility for Vietnamese Enterprises" (GCF) for the period 2011-2013. The project worth VND216 billion funded by the Danish International Development Agency (DANIDA) for the 2011-2013 period will be carried [...]

Local coffee firms cry foul at foreign rivals Posted: 27 Feb 2011 12:35 AM PST Foreign rivals are leaving many local coffee processors and exporters crying for help from local authorities. Vietnam's Coffee and Cocoa Association (Vicofa) recently asked municipal and provincial departments of industry and trade, and investment and planning not to allow foreign firms to establish coffee-purchasing networks in their localities. The move came after Vietnam's 20 leading [...]

Rice export: MOIT and VFA still take no actions Posted: 27 Feb 2011 12:34 AM PST While the rice prices in the world market continuously increase, there has been no response from the Ministry of Industry and Trade (MOIT) and Vietnam Food Association (VFA): they have not released any guidance to exporters on how to deal with the rising prices. A report released by VFA showed that by February 10, 2011, [...]

India has stopped exporting animal feed to Vietnam? It’s just intimidation Posted: 27 Feb 2011 12:34 AM PST The Vietnam Feed Association has confirmed that the information that India has stopped exporting animal feed to Vietnam is just "news circulated for intimidation". The threatening news Reuters reported that Indian enterprises have stopped exporting maize and soybean cakes to Vietnam after Vietnam decided to re-export nearly 50,000 tons of materials for making animal feed [...]

Trillion-dong bank club Posted: 26 Feb 2011 08:05 AM PST Large-sized joint stock banks that led with profit of trillion dong over years slowed down in 2010, whereas smaller ones accelerated strongly. In previous years, the trillion-dong bank club used to include four state commercial banks plus ACB, Techcombank, Sacombank, Vietinbank and Vietcombank that are still called "state lender" because the state holds majority stake [...]

Total outstanding loans of HCM City banks reach 730tr dong in Feb Posted: 26 Feb 2011 08:03 AM PST Total deposits of HCM City-based banks in the end of Feb will have estimated to reach 789.7 trillion dong, up 61.8% year on year, of which 57.2% were raised by joint stock banks, the city Statistics Office reported. Deposits in foreign currencies accounted for 25.8% of total deposits, increasing 53.5% against the same period of [...]

Transport companies threaten to raise fees Posted: 26 Feb 2011 08:03 AM PST Soon after the announcement of a rise in petrol prices on February 24, many transport companies said they would follow suit. Ta Long Hy, director of Vinasun Taxi Company and chairman of the Ho Chi Minh City Taxi Association said that even though petrol prices had increased by VND2, 900 per litre, the taxi firms [...]

Vietnam commits to facilitation of foreign investors Posted: 26 Feb 2011 08:03 AM PST Vietnam committed to further creating favorable conditions for foreign investors in Vietnam, including those from the US, said President Nguyen Minh Triet. The President made the remark while working with the Vietnam Chamber of Commerce and Industry (VCCI) Ho Chi Minh City chapter and meeting with a number of US investors in the city on [...]

SBV says lower credit growth rate will not affect production sector Posted: 26 Feb 2011 08:02 AM PST The lowering of the targeted credit growth rate to 20 percent, the five-year lowest will lead to capital shortage for the production sector, because the capital will be transferred from the public to the private sector, officials of the State Bank and experts say. According to Le Xuan Nghia, Deputy Chair of the National Finance [...]

Vietnamese businesses praise investment prospects in Laos Posted: 26 Feb 2011 08:02 AM PST While attending the 17th unofficial ASEAN Economic Ministerial Meeting and the Ministerial Meeting between Cambodia, Laos, Vietnam and Myanmar (CLVM) in Vientiane from February 25-28, Vietnamese Minister of Industry and Trade Vu Huy Hoang visited some Vietnamese businesses operating in Laos. Such businesses include the Vietnam-Laos Electricity Joint Stock Company, Star Telecom-Viettel and the Petrol [...]

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