Vietnam Business News

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• Vietnam Dong rebounds after 3-straight day decline
• SBV’s Hanoi branch takes actions to achieve 2011 targets
• HCMC sets GDP growth target at 12% in 2011-2015
• 4G to be adopted within 3-5 years
• Chinese vehicle maker BYD to inaugurate electric buses in Denmark
• China’s aviation revenue to exceed Boeing and Airbus by 2020
• Vinacomin hikes coal prices
• Exchange launches annual report contest
• VinaCapital to concentrate focus on shopping centres
• Forex rates eat into car sales

Vietnam Dong rebounds after 3-straight day decline Posted: 11 Mar 2011 12:13 AM PST Vietnam’s dong advanced VND5 per dollar on March 11, ending its 3 day declining run as the State Bank of Vietnam (SBV) strengthened daily reference rate, according to data on its website. The dong was traded at 20,870 and 20,875 per dollar for bid and ask, respectively at Vietcombank and BIDV. The central bank weakened [...]

SBV’s Hanoi branch takes actions to achieve 2011 targets Posted: 11 Mar 2011 12:13 AM PST The SBV’s Hanoi branch on March 10 set six specific measures for banks in the city to reach 2011 targets as instructed in Government's Resolution 11 in an effort to tackle inflation, stabilize macroeconomics and ensure social welfares. Firstly, it requires 12 Hanoi-based commercial banks to curb its credit growth at below 20% each and [...]

HCMC sets GDP growth target at 12% in 2011-2015 Posted: 11 Mar 2011 12:11 AM PST Ho Chi Minh City(HCMC), the biggest city of Vietnam sets gross domestic product(GDP) growth targer at 12% each year in the 2011-2015 period. Ho Chi Minh City(HCMC), the biggest city of Vietnam sets gross domestic product(GDP) growth at 12% each year in the 2011-2015 period, 2.5 times higher than the country's GDP growth, the state-run [...]

4G to be adopted within 3-5 years Posted: 10 Mar 2011 09:53 PM PST China’s top telecom regulator said on Thursday that the country plans to adopt the commercial use of fourth-generation (4G) technology “in three to five years”, providing the first official timetable for China’s move to the next generation telecom service. Miao Wei, minister of industry and information technology, told China Daily at the ongoing National People’s [...]

Chinese vehicle maker BYD to inaugurate electric buses in Denmark Posted: 10 Mar 2011 09:53 PM PST China’s electric vehicle maker BYD Automobile Co Ltd is set to trial a full-size, all-electric bus in the Danish capital Copenhagen, according to a news release issued by Denmark’s biggest public transport operator Movia and Denmark’s Ministry of Foreign affairs Thursday. Designed and manufactured by BYD, a leading Chinese electrical vehicle and battery producer, the [...]

China’s aviation revenue to exceed Boeing and Airbus by 2020 Posted: 10 Mar 2011 09:52 PM PST By 2020, the sales revenue of China’s aviation products is expected to exceed the two aviation manufacturing giants, namely the U.S.-based Boeing and the European EADS (parent company of the Airbus), making China a world power in aviation, said Zhang Hongbiao, a deputy of the National People’s Congress (NPC) and official of the China Aviation [...]

Vinacomin hikes coal prices Posted: 10 Mar 2011 09:15 PM PST The Viet Nam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin) has raised coal prices for products delivered to Electricity of Viet Nam (EVN) thermo-electric plants. Effective from March 1, the prices of two regular types of coal were hiked by 5 per cent, with coal dust No4b rising to VND648,400 (US$31) per tonne and [...]

Exchange launches annual report contest Posted: 10 Mar 2011 09:14 PM PST HCM Stock Exchange in coordination with the Dau Tu Chung Khoan (Securities Investment) magazine and fund manager Dragon Capital announced yesterday this year’s annual report contest for listed companies on the country’s two exchanges in HCM City and Ha Noi. The contest targets at encouraging the companies to improve professionalism and transparency in making their [...]

VinaCapital to concentrate focus on shopping centres Posted: 10 Mar 2011 09:14 PM PST Assets management company VinaCapital will make retail centres a focus of its property investment activities this year , says CEO Don Lam. During a press briefing on Wednesday, he said demand in this segment was high compared to supply with more popular brands looking to tap the Viet Nam market or widen their presence. The [...]

Forex rates eat into car sales Posted: 10 Mar 2011 09:14 PM PST Unfavourable foreign exchange rates in February have taken a toll on the sales of imported automobiles. Total sales by members of the Viet Nam Automobile Manufacturers Association (VAMA) reached just 7,889 units in February, a decrease of 24 per cent from January sales, with passenger car and SUV sales declining by an even more substantial [...]

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