Vietnam Business News

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• Baosteel takes can-do attitude to Vietnam
• China’s ZTE transfers communications lab to Vietnamese university
• Financial quandary: where to put your money?
• Hanoi exchange to introduce +/-30% price limits on debut From May
• Stabilise fertiliser prices, say experts
• Techcombank provides $500Mln loan at 5.1% to ex-importers
• Habubank to make $46 million bond issue
• Law to protect consumer rights
• China demand boosts cassava price
• Fruit exports slump due to poor quality

Baosteel takes can-do attitude to Vietnam Posted: 23 Mar 2011 12:54 AM PDT Shanghai Baosteel Group Corp, the world’s second-largest steelmaker by output, is planning to set up a beverage can factory in Vietnam, in a move to utilize increasing industry demand in the country. The factory will be located in the Singapore Industrial Park, 18 kilometers from Vietnam’s capital, Hanoi. Baosteel has already booked a plot of [...]

China’s ZTE transfers communications lab to Vietnamese university Posted: 23 Mar 2011 12:53 AM PDT China’s ZTE Corporation donated $1 million worth of data communication lab to the Vietnam National University on Tuesday. Chinese Ambassador to Vietnam Sun Guoxiang, representatives of ZTE, officials from Vietnam’s Ministry of Education and Training, Ministry of Information and Communication and Vietnam National University were present at the donation ceremony. Ge Yuqiao, representative of ZTE [...]

Financial quandary: where to put your money? Posted: 23 Mar 2011 12:42 AM PDT Vietnamese investors are hesitant to make decisions about where to place their assets, amid rising inflation and other uncertainties in the market. Along with the recent and widespread price hikes, including electricity and petroleum, the country's inflation rate is reaching record highs in the first quarter of this year. Vietnam's CPI in March is estimated [...]

Hanoi exchange to introduce +/-30% price limits on debut From May Posted: 23 Mar 2011 12:41 AM PDT The Hanoi Stock Exchange will ask company to set debut price and apply a trading band of 30% each side on the first trading day from May this year. The Hanoi Stock Exchange, Vietnam's second biggest, said it will require companies to set an initial share price on debut and limit moves to a maximum [...]

Stabilise fertiliser prices, say experts Posted: 23 Mar 2011 12:39 AM PDT Supplies of fertiliser must be ensured to stabilise rising fertiliser prices and meet demand in the domestic market, said experts at a workshop in northern Nam Dinh Province last Friday. Le Viet Nga, deputy head of the Ministry of Industry and Trade’s Domestic Market Department, said that actively balancing supply and demand would help stabilise [...]

Techcombank provides $500Mln loan at 5.1% to ex-importers Posted: 23 Mar 2011 12:37 AM PDT Techcombank launched a preferential dollar lending program to finance $500million to export-import firms and close businesses with the lender, applicable from February 25 to April 25, 2011. Techcombank offered them dollar lending interest rates of only 5.1% p.a., which's 2% lower than normal ones and 0.25 times lower than dong lending interest rates. Earlier, Vietnam [...]

Habubank to make $46 million bond issue Posted: 23 Mar 2011 12:32 AM PDT Habubank shareholders have approved a plan to issue VND960 billion (US$45.71 million) in convertible bonds next year to raise the bank’s charter capital to VND5 trillion ($238.1 million). This year, the Ha Noi-based bank plans to spend VND1.05 trillion ($50 million) from a convertible bond issuance in August last year to increase charter capital to [...]

Law to protect consumer rights Posted: 23 Mar 2011 12:30 AM PDT In conflicts between businesses and consumers, the latter are always in the weaker position and their rights often require the protection of the State. The new Law on Consumer Protection, passed in November of last year, is designed to protect consumer rights and replaces Ordinance No 13/1999/PL-UBTVQH10 which had been on the books since April [...]

China demand boosts cassava price Posted: 23 Mar 2011 12:28 AM PDT Due to demand from mainland China, traders are buying large quantities of cassava, causing the domestic price to go up 40-45 per cent compared to last year. The export cassava price also increased during this period. According to the Viet Nam Market Analysis and Forecast Joint-Stock Company Agro-Monitor, domestic sliced cassava is selling for VND6,300 [...]

Fruit exports slump due to poor quality Posted: 23 Mar 2011 12:27 AM PDT Export prices for fresh fruit have plunged after many European countries have suspended imports of several kinds of fruit from Viet Nam over quality considerations, Tuoi tre (Youth) newspaper reported. The suspension began since early this year after some of the imported fruit failed to meet the international GAP (Good Agricultural Practices) standards, it said. [...]

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