Vietnam Business News

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• Land clearance delays major road projects
• Pepper keeps going up
• Atomic energy and its benefits discussed
• Vietnam plans human resources for nuclear power programs
• Maximum volume of cash allowed to bring abroad estimated at $5,000
• Increasing interest rate to curb inflation not suitable for Vietnam
• Vietnam earns dollars from three main sources: Former governor
• Province attracts $76m in investment
• Timber origin issues plague local exporters
• Businesses manage to survive capital shortage

Land clearance delays major road projects Posted: 14 Apr 2011 01:08 AM PDT Investors of major transport projects behind schedule in HCM City have been unable to give clear answers about the completion of their projects because of slow progress in land clearance. The project to expand Inter-provincial Road 25B, which plays a key role in transporting containers from Cat Lai Port, lacks sufficient land to continue construction. [...]

Pepper keeps going up Posted: 14 Apr 2011 01:06 AM PDT A source from Vietnam Pepper Association said that due to a fall in the world's pepper output, pepper price has increased 3 times against the same period of 2010, the state newspaper Nguoi Lao Dong reported on Wednesday. Similarly, domestic pepper now stands at 112,000 dong per kg, up 22,000 dong/kg month on month. As [...]

Atomic energy and its benefits discussed Posted: 14 Apr 2011 01:06 AM PDT The atomic energy sector, the attitude of the society to atomic energy and Ninh Thuan's future socio-economic developments are being discussed at a forum in the south central coastal province of Ninh Thuan on April 13. At the two-day forum, Russian Ambassador to Vietnam Kovtun Andrei Grigorievich spoke of the importance of the event for [...]

Vietnam plans human resources for nuclear power programs Posted: 14 Apr 2011 01:05 AM PDT Electricity of Vietnam, the country's power giant, and Ministry of Education and Training signed an agreement of human resources training for nuclear power programs, which will be funded by Russia-based Rosatom national atomic energy group (50 percent). EVN will finance 50 percent of cost for the HR training project, the local newswire VnExpress reported on [...]

Maximum volume of cash allowed to bring abroad estimated at $5,000 Posted: 14 Apr 2011 01:02 AM PDT The Vietnamese Prime Minister ordered the State Bank of Vietnam (SBV), the country's central bank to issue a regulation that maximum volume of US dollar cash which a resident is allowed to bring abroad without reporting to customs agencies must be $5,000. The statement was made in the Government Office's report on Prime Minister's conclusion [...]

Increasing interest rate to curb inflation not suitable for Vietnam Posted: 14 Apr 2011 01:00 AM PDT One of the solutions to curb inflation in the world is raising interest rates to absorb credit. But this solution is difficult to gain a success in Vietnam. This solution is difficult to be applied successfully in Vietnam because in the foreign banking system, saving depositors are often businesses, borrowers are people. Therefore, when there [...]

Vietnam earns dollars from three main sources: Former governor Posted: 14 Apr 2011 12:59 AM PDT Vietnam is always suffering a large trade deficit of approximately 20 percent against exports every year and in 2010, the lowest trade gap was also up to 16.8 percent, according to Cao Sy Kiem, former governor of the State Bank of Vietnam (SBV). Thus, foreign exchange earnings in the export‐import operations are always negative, about [...]

Province attracts $76m in investment Posted: 14 Apr 2011 12:59 AM PDT The management board of industrial zones in Ba Ria – Vung Tau announces that the province attracted five new investment projects in the first quarter of this year, worth US$76 million. The biggest was a Korean firm, which had launched a $40 million project; followed by Brunei ($25 million) and Japan and China, which have [...]

Timber origin issues plague local exporters Posted: 14 Apr 2011 12:58 AM PDT Made-in-Viet Nam timber and wood products have faced obstacles in accessing foreign markets due to stricter foreign laws, which require timber products to be granted Forest Stewardship Council certification, said Hua Duc Nhi, deputy Minister of Agriculture and Rural Development. Forest Stewardship Council (FSC) certification proves wood products are from certified sources of origin throughthienthanden1902 [...]

Businesses manage to survive capital shortage Posted: 14 Apr 2011 12:58 AM PDT Some businesses managed to survive from the shortage of capitals, which was caused by high lending interest rates by various ways. Le Thi Phuong Dung, director of Mai Hoa Trading and Service Ltd., said her company curbed the capital shortage problem by asking customers to pay instantly for every purchase orders. "Earlier, customers used to [...]

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