Vietnam Business News

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• City residential project wins high-rise award
• Malaysia’s Hong Leong Bank opens in Ha Noi
• Shell lauded for work on road-building technology
• Da Nang organises global construction expo
• China funds low-income housing
• Brokerage firms increase fees for financial services
• Province threatens to end slow projects
• Non-life insurance earnings jump
• Gas supply shrinks after 30 years of exploitation
• Land prices feed market volatility

City residential project wins high-rise award Posted: 22 Apr 2011 10:24 PM PDT CapitaLand prime residential complex project in HCM City, Beau Rivage, has won the prestigious “Best High-Rise Development” award at the Asia Pacific Property Awards 2011. The award recognises CapitaLand’s efforts to incorporate internationally good design principles and practices at Beau Rivage, which comprises 962 apartments across four residential towers overlooking the Sai Gon River.

Malaysia’s Hong Leong Bank opens in Ha Noi Posted: 22 Apr 2011 10:24 PM PDT The Malaysian Hong Leong Bank yesterday opened the Ha Noi branch – its second in Viet Nam, and introduced the priority banking service in this branch. Priority banking service is part of consumer banking, aiming at higher income customers. The service caters for individuals with opening balance of VND1.2 billion (US$54,172) and above. Customers using [...]

Shell lauded for work on road-building technology Posted: 22 Apr 2011 10:23 PM PDT The Ministry of Transport yesterday awarded Shell Viet Nam for its contribution to the research and application of new technologies in road building in the country. Shell introduced a polymer modified bitumen range to provide solutions for all types of roads, the Shell Cariphalte. The company will also focus this year on introducing new products [...]

Da Nang organises global construction expo Posted: 22 Apr 2011 10:22 PM PDT Vietbuild Da Nang 2011 will open its door today at the Da Nang International Exhibition Fair Centre. The four-day exhibition attracts 270 domestic and foreign construction companies with 600 pavilions showcasing building materials, interiors and real estate services. The number of participating companies this year represents a 15-per-cent increase compared to 2010.

China funds low-income housing Posted: 22 Apr 2011 10:22 PM PDT Viet Nam is expected to receive a loan of US$1.5 billion for its low-income housing projects following an understanding reached yesterday between the Vietnamese Ministry of Construction and the China Development Bank. Construction Minister Nguyen Hong Quan said the understanding was a step towards accessing large and reliable sources of credit for Vietnamese construction enterprises [...]

Brokerage firms increase fees for financial services Posted: 22 Apr 2011 10:22 PM PDT As many securities companies increase their fees for credit services, experts are warning that such moves in the current prolonged market downtrend will further suffocate money inflows to the securities sector. Asia Pacific Securities Co raised its interest rates for loans yesterday, from 0.065 per cent per day (equivalent to 23.4 per cent per year) [...]

Province threatens to end slow projects Posted: 22 Apr 2011 10:21 PM PDT The People’s Committee of southern Hau Giang Province is urging the Hong Kong-invested Lee & Man Group to hasten implementation of its two paper and pulp production projects, worth a combined US$628 million. Progress on both projects has so far failed to meet the requirements set by local authorities, the committee said in its latest [...]

Non-life insurance earnings jump Posted: 22 Apr 2011 10:21 PM PDT Non-life insurance premiums totalled nearly VND3.25 trillion (US$154.7 million) in the first two months of the year, an increase of 29.7 per cent over the same period in 2010, according to the Insurance Supervisory Authority of the Ministry of Finance. “A growth rate of 22-25 per cent is the target set for the non-life insurance [...]

Gas supply shrinks after 30 years of exploitation Posted: 22 Apr 2011 10:20 PM PDT Gas reserves of the Tien Hai gas field in the northern province of Thai Binh have been dwindling from more than 30 years of exploration, but the discovery of new, offshore oil and gas structures is expected to increase the energy supply for the region in the near future. This information was confimed by Nguyen [...]

Land prices feed market volatility Posted: 22 Apr 2011 10:20 PM PDT High prices is one of the major contributors to Viet Nam’s volatile and uncontrollable real estate market which posed great challenges to meeting low income housing needs, property experts have said. Deputy Minister of Construction Nguyen Tran Nam said it was a disadvantage for property prices to be too high and added that the property [...]

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