Vietnam Business News

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• Eximbank commits to sell foreign currencies without fees
• Prudential Vietnam cooperates with Metro Cash & Carry Vietnam
• Exporters expect minor impact from Japan’s disaster
• Vietnam trade deficit with China surges
• Still hard to buy US dollars at banks
• Opera Software scouts for Vietnam partners
• Vietnam targets stable tobacco leaf growing areas
• Housing supply to increase rapidly
• Supermarkets launch big promotional program
• Vietnam fails to sell VND2Tln Governments bonds

Eximbank commits to sell foreign currencies without fees Posted: 25 Mar 2011 12:13 AM PDT From March 24, Vietnam Export Import Commercial Joint Stock Bank (Eximbank-EIB) will sell foreign currencies as requested by the customers according to the listed forex rate at the bank without any fee collection. Accordingly, Eximbank will meet the cash demand for the key foreign currencies such as USD, AUD, CAD, CHF, EUR, GBP, HKD, and [...]

Prudential Vietnam cooperates with Metro Cash & Carry Vietnam Posted: 25 Mar 2011 12:12 AM PDT Prudential Vietnam Co Ltd yesterday officially set up cooperation relation with Metro Cash & Carry Vietnam Co in bringing in the additional value for Metro’s professional customers. Under the signed agreement, Prudential Vietnam will introduce, and provide Metro’s customers the special life insurance and savings packages. The new services will offer the customers with new [...]

Exporters expect minor impact from Japan’s disaster Posted: 25 Mar 2011 12:11 AM PDT Exporters have foreseen difficulties or even decreases in exports to Japan as the impact of the recent devastating earthquake and tsunami unfolds, but said the impact might be minor. Seafood exporters, for example, said Japanese provinces which were affected by the twin disaster are not major destinations of Vietnam's seafood. Furthermore, seafood is an essential [...]

Vietnam trade deficit with China surges Posted: 25 Mar 2011 12:11 AM PDT The trade deficit with China has risen eight-fold since 2002 to US$12.7 billion last year, or 102 percent of the total trade deficit. Most of the imports were of low-value goods like clothing, toys, footwear, food, and vegetables that can be produced domestically. Cell-phone imports were worth $791 billion and vegetables and fruits, $156.13 billion, [...]

Still hard to buy US dollars at banks Posted: 25 Mar 2011 12:10 AM PDT Though some banks committed to sell out their quotas, people who demand to buy US dollars in cash are still having difficulties even after paying a fee, the local newswire VnExpress reported. On March 22, Mr. Quang at the My Dinh new urban area, Hanoi told that he went to almost five banks to buy [...]

Opera Software scouts for Vietnam partners Posted: 25 Mar 2011 12:08 AM PDT Opera Software ASA on Wednesday said it is seeking Vietnamese partners to develop and localize mobile applications. Phillip Gronvold, products manager of Norwegian company Opera Software, told the Daily on Wednesday that it is targeting local partners for mobile application development because Vietnam is a key market for the company. Vietnam is second only to [...]

Vietnam targets stable tobacco leaf growing areas Posted: 25 Mar 2011 12:01 AM PDT A draft tobacco control law will be discussed by the National Assembly at the end of 2011 and adopted in 2012. This is considered an appropriate action in the context that Vietnam has signed the Framework Convention on Tobacco Control (FCTC) and the Government has a clear policy on controlling tobacco and limiting cigarette consumption. [...]

Housing supply to increase rapidly Posted: 25 Mar 2011 12:01 AM PDT "Housing supply in next two years will increase rapidly according to the forecasts of up to 67 percent of real estate enterprises, while 33 percent expect just a moderate increase." This information is from a research project, "Evaluating housing demand and factors determining people's borrowing for housing in Hanoi and housing trends in 2011," recently [...]

Supermarkets launch big promotional program Posted: 24 Mar 2011 10:11 PM PDT Most supermarkets in Ho Chi Minh City are offering large promotional discounts on many essential goods, aimed at stimulating the domestic consumption demand. Big C supermarket is offering a discount of 5-50 percent on 500 items like essential goods and food items from March 23 to April 3. 100 percent of all products on discount [...]

Vietnam fails to sell VND2Tln Governments bonds Posted: 24 Mar 2011 10:09 PM PDT Vietnam failed to sell any of VND2trillion worth of Government bonds in an auction of 5-year and 10-year bonds on March 24 on discount rate hikes and concerns over rising inflation, according to data from the Hanoi Stock Exchange (HNX). Only 5 bidders had registered to take part in the 5-year auction, seeking for yields [...]

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