Vietnam Business News

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• Brokers predict profit-taking this week
• More power cut misery
• Lines short circuit electricity plans
• Rice fund set to bite into price instability
• Shipping firms sail into rough seas
• More than 600ha needed to beat parking shortage
• Transport cuts made to ease inflation
• New rules outline ratio of charter capital in State-owned enterprises
• Italian quality systems assist farm-food firms
• Interest-free loans to help stabilise HCM City prices

Brokers predict profit-taking this week Posted: 14 Mar 2011 10:48 PM PDT Securities enterprises expected the local market to enter an adjustment phase this week as many investors would lock in profits after the VN-Index gained good ground last week. With four rising sessions, the VN-Index soared 35.83 points, or 7.8%, from the previous week to close at 495.06 as many large-caps like HAG, BVH, MSN and [...]

More power cut misery Posted: 14 Mar 2011 10:47 PM PDT Increased power prices and abrupt electricity cuts are tormenting many enterprises in Vietnam. Nguyen Huu Quang, deputy general director of Vietnam Cement Industry Cooperation, said the recent power price hikes forced the state-owned corporation to add at least VND20,000 ($1) to the price of one tonne of cement. "But, from April we will have to [...]

Lines short circuit electricity plans Posted: 14 Mar 2011 10:46 PM PDT Transmission lines' poor capacity is exacerbating Vietnam's power crisis. Several independent hydropower producers in the Central Highlands' Kon Tum province last week complained they could not sell their products to local buyer Kon Tum Power Company, an affiliate of the Electricity of Vietnam (EVN), because of transmission lines' weak capacity. Nguyen Ngoc Tuong, general director [...]

Rice fund set to bite into price instability Posted: 14 Mar 2011 10:45 PM PDT A regional reserve fund will help keep rice prices stable and ensure regional food security. ASEAN plus China, Japan and South Korea recently agreed in Laos to establish a rice reserve fund to bridle volatile movements in commodity prices of grains, without making abrupt procurements that could spark market panic. The decision was made amid [...]

Shipping firms sail into rough seas Posted: 14 Mar 2011 10:45 PM PDT A number of foreign shipping firms are in the firing line for their alleged-monopolised shipping-related service charges. The Ministry of Finance (MoF) has just proposed the government to establish a taskforce to work with a number of foreign shipping firms, including Vietnam-based agencies, on their service charges, which were said to be hurting local importers. [...]

More than 600ha needed to beat parking shortage Posted: 14 Mar 2011 10:44 PM PDT Ho Chi Minh City needs nearly 650ha of land to meet its public trans-portation parking needs by 2015, but how and when it is going to create this space remains an open question, experts say. The Sai Gon Giai Phong (Liberated Sai Gon) newspaper reported yesterday that the actual parking space for public transportation in [...]

Transport cuts made to ease inflation Posted: 14 Mar 2011 09:39 PM PDT The Ministry of Transport has pledged to cut down public investment to rein in inflation and ensure macro-economic stability. Minister Ho Nghia Dung said half of the transportation projects that use Government bonds would be reduced this year, which means about VND11 trillion (US$523 million) would be funnelled into key, urgent projects and those set [...]

New rules outline ratio of charter capital in State-owned enterprises Posted: 14 Mar 2011 09:38 PM PDT The State will hold 50 per cent of the charter capital of power production companies with minimum capacity of 500MW instead of 100MW in accordance with the new requirements. This is one of the regulations stated in Decision 14/2011/QD-TTg that was signed by Prime Minister Nguyen Tan Dung, which stipulates the ratio of charter capital [...]

Italian quality systems assist farm-food firms Posted: 14 Mar 2011 09:38 PM PDT Italian and local experts in food hygiene and safety management are comparing notes on quality systems in the agro-food sector at a two-day training seminar which opened in HCM City yesterday. Organised by the Italian Trade Commission, Italy’s official trade promotion agency, it is meant to enhance the capacity of local agricultural, veterinary, food-testing and [...]

Interest-free loans to help stabilise HCM City prices Posted: 14 Mar 2011 09:37 PM PDT Enterprises participating in HCM City’s price stabilisation programmes will be given access to interest- free-12-month loans without collateral, the municipal People’s Committee has said. The policy is one of the new measures that the city administration has just approved to increase the effectiveness of its price stabilisation programme. It aimed to create more favourable conditions [...]

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