Vietnam Business News

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• Demand for rental housing far outstrips supply of loan money
• $5Bln needed to maintain realty market growth
• Dollar back market heats up, prices varies
• SBV net injects VND8.930Tln on OMO last week
• Vietnam to adjust gasoline prices more frequently
• Fund shortage hinders new coach stations
• VIB co-operates with AAA Assurance
• Steel group calls for import restrictions
• HCM City hosts global logistics meet-up
• Petrolimex loses $124m in Q1

Demand for rental housing far outstrips supply of loan money Posted: 04 Apr 2011 11:37 PM PDT General Secretary of Viet Nam Real Estate Association Nguyen Van Minh spoke with Hai quan (Customs) Newspaper about rental housing as labourers experience a shortage despite unsold apartments being available. People, including newly-married couples and new employees, usually look for rental housing because they can’t afford to buy a house. What do you think about [...]

$5Bln needed to maintain realty market growth Posted: 04 Apr 2011 11:37 PM PDT State Bank's tight credit policy on realty market is causing difficulties for investors. Mobilizing FDI capital or allowing realty projects to be mortgaged at foreign commercial banks are recommended for the market at this moment. Different points of view Evaluating difficulties in realty domestic market in the Conference "What to do with realty market in [...]

Dollar back market heats up, prices varies Posted: 04 Apr 2011 11:37 PM PDT Dollar black market has lately heated up, with prices ranging between VND200 to VND300 per dollar, the online newspaper Lao Dong reported March 5. Some forex exchange shops in Ha Trung street, the biggest unofficial dollar market in Hanoi, sneakily reactivated a few days ago and only accepted to sell dollars to old clients and [...]

SBV net injects VND8.930Tln on OMO last week Posted: 04 Apr 2011 09:02 PM PDT During the week ending April 1, the State Bank of Vietnam (SBV) net injected VND8.930Tln on open market operations (OMO) , in which it drained VND99trillion and injected VDN107.929trillion, said Thang Long Securities, citing Bloomberg' data. On April 4, the central bank pumped VND30,000 to the economy via OMO the highest since early 2011, Bloomberg's [...]

Vietnam to adjust gasoline prices more frequently Posted: 04 Apr 2011 09:02 PM PDT Vietnam will adjust the domestic petrol and oil prices more frequently in the efforts to narrow smuggling out of Vietnam as the domestic prices of gasoline are currently sold at VND2,000/liter lower than nearby countries Vietnam will adjust the domestic petrol and oil prices more frequently in the efforts to narrow smuggling out of Vietnam [...]

Fund shortage hinders new coach stations Posted: 04 Apr 2011 09:01 PM PDT A lack of funds and problems related to traffic infrastructure are hindering the HCM City government’s plan to build two new coach stations in suburban areas. Under the VND3.6 trillion (US$1.8 million) scheme by the city People’s Committee, Suoi Tien and Tan Quy Tay coach stations would have been commissioned by 2015 to replace the [...]

VIB co-operates with AAA Assurance Posted: 04 Apr 2011 09:00 PM PDT Viet Nam International Commercial Joint Stock Bank (VIB) and AAA Assurance Corporation have signed a comprehensive partnership contract with the aim of enhancing growth and diversifying each others portfolios. Under the contract, VIB will help AAA use the bank’s services conveniently and quickly at competitive prices, while recommending the bank to staff and customers.

Steel group calls for import restrictions Posted: 04 Apr 2011 08:59 PM PDT The Viet Nam Steel Association (VSA) has called for strict supervision to control the volume of steel imported from China and Southeast Asian countries. The VSA has sent a proposal to the Viet Nam General Department of Customs, Ministry of Finance and Ministry of Industry and Trade to find an urgent solution after the volume [...]

HCM City hosts global logistics meet-up Posted: 04 Apr 2011 08:59 PM PDT Rapid economic growth and a booming logistics industry would help Viet Nam attract investment in the sector, delegates told a conference being held in HCM City. Speaking at the four-day 18th International Freight and Logistics Network (IFLN) Network’s Membership conference which opened on Sunday, president of the IFLN, Michel Vanlerberghe, said: “The annual conference will [...]

Petrolimex loses $124m in Q1 Posted: 04 Apr 2011 08:58 PM PDT Viet Nam National Petroleum Corporation (Petrolimex) yesterday announced a loss of VND2.6 trillion (US$123.81 million) in the first quarter mainly due to exchange rate risks. Since the State Bank of Viet Nam depreciated the Vietnamese dong against the US dollar in February, the adjustment caused Petrolimex to lose VND1.83 trillion ($87.33 million), Petrolimex’s Deputy General [...]

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