Vietnam Business News

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• Gold market getting knocked into order
• Aviation authorities recommend fare hikes
• Vietnam keeps conducting nuclear power project
• $4.5b tourism project in Ninh Thuan waiting for license
• Vietnam needs to restore confidence in dong: experts
• Vietnam’s export to Africa grows 30-35 pct a year
• Interbank forex rate could be widened further: SBV official
• Vietnam targets $21 billion port-enlargement investment: Freight Markets
• Vietnam ships 40,000 tons of coffee in first 10 days of March
• Tourists increase, infrastructure and services still poor

Gold market getting knocked into order Posted: 18 Mar 2011 01:13 AM PDT Banking authorities are showing a strong commitment to the gradual abolition of gold plate trading on the 'free' market. According to State Bank governor Nguyen Van Giau, the appearance of new kinds of gold trading in the market within the past three years such as gold trading floors, have triggered the strong presence of gold [...]

Aviation authorities recommend fare hikes Posted: 17 Mar 2011 11:07 PM PDT The Civil Aviation Administration of Vietnam has proposed increasing domestic fare caps by up to 27 percent due to the depreciation of the dong and airlines' rising operational costs. In a recommendation to the Ministry of Transportation, it said the fare ceilings should be hiked by 27 percent on sectors less than 500 kilometers, gradually [...]

Vietnam keeps conducting nuclear power project Posted: 17 Mar 2011 11:06 PM PDT After the explosion of Fukushima I (in Fukushima Dai-ichi complex) nuclear plant happened because of earthquake and tsunami, Ngo Dang Nhan, director of Ministry of Science and Technology's Nuclear Radiation Protection and Safety Department said the incident was seen as a necessary lesson for Vietnam, but it has not affected to step-by-step implementation of nuclear [...]

$4.5b tourism project in Ninh Thuan waiting for license Posted: 17 Mar 2011 11:06 PM PDT Ninh Thuan provincial People's Committee was planning to grant the investment license to the $4.5-billion Mui Dinh tourism project invested by Hong Kong's Polo Beach International Limited Co in the province on March 19, the state-owned Thoi Bao Kinh Te Viet Nam newspaper reported. The project is designed on a 1,500-ha site, including 700 hectares [...]

Vietnam needs to restore confidence in dong: experts Posted: 17 Mar 2011 11:05 PM PDT Solving the dollarisation problem to restore the confidence in the local currency is not just closing the private foreign exchange shops, according to the Dau Tu (Investment) Newspaper on March 18. The reaction of the market after the central bankʹs order to close the so‐called black market is generally positive. It may not immediately delete [...]

Vietnam’s export to Africa grows 30-35 pct a year Posted: 17 Mar 2011 11:04 PM PDT Vietnam's export to Africa in recent years has grown strongly to $1.79 billion in 2010, a year-on-year rise of 20% and a 10-fold increase against 2001 while its import spending from Africa reached $767 million. Vietnam has import relationship with most 54 African countries, including South Africa, Egypt, Ivory Coast, Senegal, Algeria and others. The [...]

Interbank forex rate could be widened further: SBV official Posted: 17 Mar 2011 11:04 PM PDT A reliable source from the State Bank of Vietnam, the countryʹs central bank (SBV) said from this week the dong/US dollar exchange rate announced daily by SBV will be more versatile and flexible than the previous weeks, according to the Thoi Bao Kinh Te Saigon Magazine on March 18. With this change, the daily fluctuation [...]

Vietnam targets $21 billion port-enlargement investment: Freight Markets Posted: 17 Mar 2011 11:01 PM PDT Vietnam is pouring billions of dollars into building ports for the world's largest container ships in a drive to draw export industries from China. The investment may propel the port complex near Ho Chi Minh City into the ranks of the world's top 15 ports within a decade, said Malcolm Gregory, chief commercial officer at [...]

Vietnam ships 40,000 tons of coffee in first 10 days of March Posted: 17 Mar 2011 11:00 PM PDT Vietnam, the world's largest producer of Robusta beans, exported 40,000 metric tons of coffee in the first 10 days of March, Dutch coffee trader Nedcoffee BV said. February shipments totaled 83,944 tons, while stockpiles at the end of February were 262,465 tons, Nedcoffee, which has offices in Vietnam, said in an e-mailed report. Vietnam exports [...]

Tourists increase, infrastructure and services still poor Posted: 17 Mar 2011 10:59 PM PDT Local travel companies complain despite increasing numbers of foreign tourists, infrastructure and customer services at Vietnam's seaports remain underdeveloped. Saigontourist, Viet Excursions and OSC Travel said Vietnam should improve its seaport infrastructure and customer services if it wanted to accommodate the increasing number of international tourists arriving on cruise ships this year. Up until now, [...]

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