Vietnam Business News

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• Laos attracts Vietnamese businesses
• State Bank gets tough on gold market
• Lenders expect booming earning result in 2011
• IFAD to grant $48.35 mil to boost agriculture
• Vietnam Petrolimex buys 35,000 tonnes of fuel oil
• HCM City firms join India-ASEAN expo
• Authorities prepare to crack down on smuggling, counterfeit goods
• Mekong Delta forum seeks to connect cities
• Delta province draws 12 Japanese investors
• Long An industry, craft complexes prosper

Laos attracts Vietnamese businesses Posted: 05 Mar 2011 07:47 AM PST Five projects of Vietnamese investors worth a total $4328 million received licences in Laos in the first two months of this year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. This brought the total number of Vietnamese invested projects in Laos to 197 with total registered capital of more [...]

State Bank gets tough on gold market Posted: 05 Mar 2011 07:46 AM PST Domestic institutions may no longer receive central bank approval for gold plate production. State Bank governor Nguyen Van Giau revealed the bank would submit a roadmap to the government to discard gold plate trading operations. The roadmap might stop granting licences for local enterprises to produce gold plate and then stop local institutions from selling [...]

Lenders expect booming earning result in 2011 Posted: 05 Mar 2011 07:34 AM PST Several commercial banks set a confident earning target this year in spite of financial experts' worries about a rough year for credit institutions. Maritime Bank announced at the shareholder meeting that it targeted a profit of more than VND1.8 trillion (US$86 million) and an unchanged dividend rate of 17 percent this year. The Hanoi–based bank [...]

IFAD to grant $48.35 mil to boost agriculture Posted: 05 Mar 2011 07:30 AM PST The International Fund for Agricultural Development (IFAD) will give a US$48.35 million loan to the "Tam Nong Support Project" to be developed in three provinces of Vietnam. The 5-year loan was validated by an agreement signed between Vietnamese Ambassador to Italy, Dang Khanh Thoai, and the representative of the IFAD in Roma, Italy, yesterday. This [...]

Vietnam Petrolimex buys 35,000 tonnes of fuel oil Posted: 05 Mar 2011 07:30 AM PST Vietnam’s Petrolimex bought up to 35,000 tonnes of March-loading fuel oil, their first purchases from the spot market in about three months, amid strong price-levels for a second consecutive month, traders said on Friday. The national import-export firm bought via tender 10,000 tonnes of low 0.97 density and 25,000 tonnes of high 0.99 density 180-centistoke [...]

HCM City firms join India-ASEAN expo Posted: 05 Mar 2011 07:27 AM PST For the first time ever HCM City-based businesses are taking part in the India-ASEAN Business Fair being held in the Indian capital New Delhi and are hoping to explore business opportunities there. With a population of 1.2 billion, India has a huge demand for many kinds of goods, especially since domestic production does not meet [...]

Authorities prepare to crack down on smuggling, counterfeit goods Posted: 05 Mar 2011 07:24 AM PST Relevant agencies and localities have been asked to conduct investigations of domestic prices to ensure stabilisation as well as prevent violators from taking advantage of the “Vietnamese people use Vietnamese goods” programme to bring smuggled and counterfeit goods into the market. Speaking at an online conference on Thursday to review last year’s activities against smuggling, [...]

Mekong Delta forum seeks to connect cities Posted: 05 Mar 2011 07:24 AM PST The Mekong Delta Economic Co-operation-Ca Mau 2011 Forum later this year would focus on building better connections between provinces and cities in the region, organisers said at a HCM City press conference on Thursday. The annual MDEC forum would start with a conference in HCM City in July, followed by four seminars in Ca Mau [...]

Delta province draws 12 Japanese investors Posted: 05 Mar 2011 07:21 AM PST Some 12 Japanese enterprises were yesterday granted investment certificates in Long Hau Industrial Zone, in the delta province of Long An. Japanese enterprises will invest in workshops which were built in the industrial zone in late 2010. The country has attracted US$1 billion in 93 FDI-invested projects, together with US$86 million in 14 other schemes.

Long An industry, craft complexes prosper Posted: 05 Mar 2011 07:21 AM PST Industrial and handicraft complexes in the southern province of Long An have so far attracted 290 projects – 21 of which are foreign-invested – worth VND94 trillion (US$4.4 billion). At a recent conference, the provincial People’s Committee vice chairman, Pham Van Rach, suggested that local authorities and relevant sectors support businesses with implementing their projects [...]

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