Vietnam Business News

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• Rice exporters’ appetite to be met
• Holiday tours see strong rise despite economic woes
• Power rationing worries firms
• Sale of apartments soars by 70%
• Economic woes deflate bond market
• VNPost, Air Mekong link up
• Limited logistics hinder growth
• Toyota defects to be fixed free-of-charge at service centres
• Big hopes for rice, seafood, coffee, rubber
• High interest rates are an obsession for businesses

Rice exporters’ appetite to be met Posted: 08 Apr 2011 10:17 PM PDT Although the global price of rice has fallen continuously in the past months, there are some positive signs of a change in fortune for local rice exporters. According to statistics by Thai Rice Exporters Association the average price of Thai’s four major rice export items stood at $500 per tonne in late March, 2011 against [...]

Holiday tours see strong rise despite economic woes Posted: 08 Apr 2011 10:17 PM PDT The number of tourists bookings for both outbound and inbound tours during the holidays of April 30 and May Day shot up despite economic difficulties such as high inflation. According to travel agencies, the number of tourists booking tours during the four-day holidays increased by 20-30 per cent compared to the last year's same period. [...]

Power rationing worries firms Posted: 08 Apr 2011 10:15 PM PDT Electricity rationing has been implemented in the northern city of Hai Phong to deal with the serious power shortage this dry season. Planned electricity rationing has been defined based on the amount of electricity apportioned to Hai Phong and average business consumption in the first half of last year. Electricity rationing plans were announced at [...]

Sale of apartments soars by 70% Posted: 08 Apr 2011 10:14 PM PDT Sales of apartments, villas and townhouses were up in the first quarter of this year, according to experts. Savills Viet Nam, at the launch of its quarterly report in Ha Noi this week, said that apartments had good sales, with about 70 per cent of stock being sold, despite a doubling in available property compared [...]

Economic woes deflate bond market Posted: 08 Apr 2011 10:14 PM PDT High inflation and bond yields lower than banks interest rates, as well as the decreasing value of the Vietnamese dong against the US dollar, have combined to derail recent Government bond issues, said Viet Nam Bond Market Association vice chairman Trinh Hoai Giang. Viet Nam’s bond market had great potential, but economic instability was restraining [...]

VNPost, Air Mekong link up Posted: 08 Apr 2011 10:13 PM PDT The Ha Long Investment and Development Company (BIM Group) and its subsidiary Air Mekong signed here yesterday strategic corporation agreements with the Viet Nam Post Corporation (VNPost) to build a distribution system for Air Mekong’s e-tickets. Under the agreements, each office of VNPost would become a sales agent for Air Mekong e-tickets via the internet [...]

Limited logistics hinder growth Posted: 08 Apr 2011 10:13 PM PDT Experts have called for the development of the country’s logistics and maritime services to make the economy more competitive and boost global integration. Arranging transport of goods, organising supply chains and the flow of business information to enable the manufacture, assembly and distribution of goods were poor in Viet Nam, stake-holders admitted at a recent [...]

Toyota defects to be fixed free-of-charge at service centres Posted: 08 Apr 2011 10:12 PM PDT After technical errors were found in about 8,000 Toyota Innova cars, Toyota Motor Viet Nam (TMV) has announced it will repair defective vehicle free of charge. Le Thi Huong Diu, TMV media relations official, said yesterday that the company had notified the Viet Nam Register Department, confirming it would repair the flaws. “The errors were [...]

Big hopes for rice, seafood, coffee, rubber Posted: 08 Apr 2011 10:12 PM PDT The Ministry of Agriculture and Rural Development has increased its export forecasts for several key agricultural staples in its latest market report. In the report, the ministry said that it was upbeat about agricultural exports this year despite unfavourable weather conditions and increasing input costs, saying that rice, seafood, coffee and rubber would help increase [...]

High interest rates are an obsession for businesses Posted: 08 Apr 2011 10:10 PM PDT Thirty three percent of businesses cannot afford the current long term lending interest rates of 12-13 percent and higher. One third of enterprises had their profits decrease in the first quarter of the year, a Vietnam Chamber of Commerce and Industry's (VCCI) survey has found. High capital costs – the biggest obstacle When asked about [...]

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