Vietnam Business News

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• Vietnamese software firms strenuously looking for local clients
• Black market for USD rebounds despite ban
• Rice export nearly 1.6 million tons in first quarter
• First Inclusive Business Investment Forum held in Vietnam
• SSI tops 10 biggest brokerages on HOSE in Q1
• Nine nations dominate 80 pct of Vietnam’s total foreign trade
• Coca Cola increases investment in central Vietnam
• April prices to surge on rising inputs
• Saving interest rate jumps to 17pct/yr
• Building contractors get hammered

Vietnamese software firms strenuously looking for local clients Posted: 02 Apr 2011 12:23 AM PDT After ten years of implementing policies on encouraging the development of information technology (IT), software firms still cannot attain domestic clients, even though the domestic market is considered as having great potentials. A step back in the government market State agencies remain the biggest domestic clients of software firms. However, many barriers still have been [...]

Black market for USD rebounds despite ban Posted: 02 Apr 2011 12:23 AM PDT The unofficial foreign currency trade in Hanoi has found ways to adapt to recent Government enforcement measures. Gold shops on Ha Trung Street, known as a centre of foreign currency exchange in Hanoi, refused to answer phone calls about exchanging money. However, they were willing to provide services to individuals directly at their shops on [...]

Rice export nearly 1.6 million tons in first quarter Posted: 02 Apr 2011 12:22 AM PDT The Ministry of Agriculture and Rural Development announced on April 1 that the country's rice exports have reached nearly 1.6 million tons in the first quarter of the year, an increase of 36% compared to the same period last year. The rice export turnover was estimated at nearly US$823 million, increasing 39% over the same [...]

First Inclusive Business Investment Forum held in Vietnam Posted: 02 Apr 2011 12:21 AM PDT The first inclusive Business Investment Forum was held on April 1 in Ho Chi Minh City, to determine further steps to be taken towards the establishment of an Inclusive Business Fund in Vietnam. The Ministry of Planning and Investment (MPI), the Asian Development Bank and the Netherlands development organization (SNV) organized the forum jointly. The [...]

SSI tops 10 biggest brokerages on HOSE in Q1 Posted: 02 Apr 2011 12:16 AM PDT Saigon Securities Inc (SSI) led among top ten securities companies in terms of brokerage on the Hochiminh Stock Exchange (HOSE) in Jan-March after placing Thang Long Securities JSC behind in the last quarter of 2010, the southern bourse reported. In the first quarter of 2011, SSI performed with a brokerage market share of 11.74%, TLS [...]

Nine nations dominate 80 pct of Vietnam’s total foreign trade Posted: 02 Apr 2011 12:15 AM PDT The foreign trade between nine partners namely ASEAN, China, Japan, South Korea, Australia, New Zealand, EU, US and Canada with Vietnam has performed well with a rapid growth. These partners dominate up to 80% of Vietnam's total foreign trade value, according to the government website. This statement was written in "Vietnam Cooperation Index 1995-2009" published [...]

Coca Cola increases investment in central Vietnam Posted: 02 Apr 2011 12:14 AM PDT Coca Cola has announced it would spend US$3 million to upgrade its factory in Danang City. Ta Duy Tung, CEO of Coca Cola in Central Vietnam said the amount would be used to build a manufacturing chain for Coca Cola's bottled water Danasi with a capacity of up to 8,000 500ml-bottle per hour. Dasani was [...]

April prices to surge on rising inputs Posted: 02 Apr 2011 12:14 AM PDT Rising input costs, especially electricity and lately fuel bills, have weighed heavily on manufacturers, who have asked distributors and retailers for revising up prices this April. Supermarkets in HCM City have decided to increase prices of essential goods this month as asked for by their suppliers. Retailer Saigon Co.op, owner of the Co.opMart supermarket chain [...]

Saving interest rate jumps to 17pct/yr Posted: 02 Apr 2011 12:13 AM PDT Many banks have recently started to raise the saving interest rate up to 17% per year after a period of applying the ceiling saving rate at 14% per year as required by the central bank. A depositor when withdrawing capital at a bank, the bank's staff said that if the depositor continues to make deposits [...]

Building contractors get hammered Posted: 02 Apr 2011 12:13 AM PDT Rising input costs have driven scores of construction contractors into a dilemma. The price of construction steel rose three times within the last two months and it currently fetches VND18-19 million ($869.5-$917.8) per tonne, nearly VND1 million ($48.3)/tonne more than in early 2011. According to the Ministry of Industry and Trade (MoIT), the price of [...]

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