Vietnam Business News

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• $13.6m deal signed for supervising maintenance of Dung Quat oil refinery
• VinaPhone to re-launch low-cost international call packages
• Phong Phu and Song Da groups apply for upgrading National Highway No 6
• IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011
• Vietnam tourism receipt poised to grow at a CAGR of 13pct
• Base year for calculating GDP should be changed, expert says
• HNX to apply 30pct trading band from May 4
• Steel prices continue going down
• PNJ jeweller to build Vietnam’s largest jewellery factory
• SaigonBank expects to gain whole year profit of 350b dong

$13.6m deal signed for supervising maintenance of Dung Quat oil refinery Posted: 29 Apr 2011 08:41 PM PDT Binh Son Petrochemical Co on April 28 signed a $13.6 million deal with South Korea's SK contractor on managing and supervising the first overall maintenance plan in Dung Quat oil refinery, Quang Ngai province, the VnExpress reported. Accordingly, SK was appointed to take responsibility for managing, watching maintenance contractors including Jcon, Dong-Il, Ubec, Deachang (South [...]

VinaPhone to re-launch low-cost international call packages Posted: 29 Apr 2011 08:40 PM PDT VinaPhone announced to re-provide the low cost packages of IDD 1715 for making international calls with time limit for all the pre-paid and post paid subscribers from May 1, 2011. In details, VinaPhone’s subscribers who make international calls to 23 countries in all over the world such as the US, Canada, China, Thailand, Singapore, Argentina [...]

Phong Phu and Song Da groups apply for upgrading National Highway No 6 Posted: 29 Apr 2011 08:40 PM PDT Truong Tan Vien, deputy minister of transport has recently asked Hanoi City People’s Council to make reports about the implementation process of the expanding and upgrading the National Highway No 6, from Ba La to Xuan Mai, Hanoi under BT and BOT method. Song Da Group had been assigned for setting up the investment proposal. [...]

IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011 Posted: 29 Apr 2011 08:39 PM PDT International Monetary Fund (IMF) has cut its forecast on Vietnam’s inflation down to 9.5 percent in 2011, according to its regional economic outlook that has been released recently. Earlier, on April 11, the IMF stated in its world economic outlook that Vietnam’s inflation was forecast at 13.5 percent in 2011. According to IMF’s regional economic [...]

Vietnam tourism receipt poised to grow at a CAGR of 13pct Posted: 29 Apr 2011 08:38 PM PDT Tourism receipts in Vietnam is anticipated to reach around $ 5.6 Billion by 2014, growing at a CAGR of around 13 percent during 2010-2014, RNCOS acknowledged. With the presence of exquisite landscape, fast developing hospitality services, and a stable political environment, the tourism industry is one of the rapidly growing industries in Vietnam, encompassing the [...]

Base year for calculating GDP should be changed, expert says Posted: 29 Apr 2011 08:38 PM PDT Head of general Statistical Office (GSO), Do Thuc said that the agency is studying and collecting statistics to take 2010 as base year for calculating Gross Domestic Product (GDP) and some other economic indicators, instead of the base year 1994 like present, VnExpress reported. The change is essential to have accurate measures on real status [...]

HNX to apply 30pct trading band from May 4 Posted: 29 Apr 2011 08:37 PM PDT Hanoi Stock Exchange (HNX)’s general director on April 25 signed Decision No 177/QD-SGDHN amending the securities transaction regulations on the northern bourse. Similar to the amendment of the transaction regulations on UPCoM market a month ago, this amendment relates to the regulations on trading band and reference price on the northern bourse in the first [...]

Steel prices continue going down Posted: 29 Apr 2011 08:36 PM PDT Report from Ministry of Industry and Trade showed in April, due to supply exceeded demand, many enterprises planned to offload commodities, so the steel price saw a standstill and tended to fall. In particular, Pomina Steel Joint Stock Co in South lowered the steel price by 400,000 dong per tone. The steel retail price in [...]

PNJ jeweller to build Vietnam’s largest jewellery factory Posted: 29 Apr 2011 08:36 PM PDT Phu Nhuan Jewellery Joint Stock Co (PNJ) on April 28 kicked off construction on Vietnam’s largest PNJ jewellery production factory with an estimated capacity of four million products per year. The PNJ jewellery factory located at No 176/6 Duong Quang Ham, Go Vap district, HCM City and designed by DongALand Real Estate Joint Stock Co [...]

SaigonBank expects to gain whole year profit of 350b dong Posted: 29 Apr 2011 08:35 PM PDT SaigonBank has approved the 2011 business plan in the annual general meeting with targeted pre-tax profit of 350 billion dong and dividend payment of 11 percent. Last year, the bank posted to gain total profit of 321.18 billion dong. As planned, SaigonBank will raise chartered capital to 3.5 trillion dong in 2011, increasing by 42 [...]

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