Vietnam Business News

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• Vietnam hopes FTAs will bring more opportunities to expand export markets
• Domestic steel prices drop substantially
• Mekong Expo 2011 opens in Can Tho Province
• Cathay climbs with local aviation scene
• Foreign telcos dial up capital changes
• Bold SOS credit growth move to right listing ship
• PPP projects slow to gain sufficient traction
• No power cuts in May, ministry orders
• New decree on labelling to promote energy conservation
• Basic freight rate down, but surcharges up

Vietnam hopes FTAs will bring more opportunities to expand export markets Posted: 02 May 2011 10:18 PM PDT If Vietnamese enterprises have thorough preparations, they can take full advantage of the opportunities to be brought by free trade agreements (FTA) between Vietnam and other countries in the world. Vietnam is under the negotiations for a series of FTA with countries and blocs. According to the Ministry of Industry and Trade (MOIT), to date, Vietnam [...]

Domestic steel prices drop substantially Posted: 02 May 2011 10:12 PM PDT The Vietnam Steel Association (VSA) disclosed that domestic steel prices have suddenly dropped by VND200, 000- 300,000 per ton compared to the beginning of the year. After two months, the price of steel has declined by VND300, 000 ($14) per ton. According to Nguyen Tien Nghi, Deputy Chairman of VSA, the main reason for the [...]

Mekong Expo 2011 opens in Can Tho Province Posted: 02 May 2011 10:11 PM PDT The Mekong Expo Exhibition 2011 opened in Can Tho Province with nearly 400 stalls representing businesses across the Mekong Delta region and the neighbouring provinces. Businesses from the Mekong Delta provinces, Ho Chi Minh City, Tay Ninh, Lam Dong, Khanh Hoa, Dong Nai and Da Nang participated in the expo. The expo highlighted the economic [...]

Cathay climbs with local aviation scene Posted: 02 May 2011 10:10 PM PDT "As Vietnam's airports expand to meet the growing demand for air travel, it is important to have a cost efficient infrastructure." Vietnam is rated as one of the fastest growing aviation markets worldwide, offering rich opportunities for domestic and international airlines. Cindy Lam, country manager of Cathay Pacific Airways in Vietnam, tells VIR’s Song Ngoc [...]

Foreign telcos dial up capital changes Posted: 02 May 2011 10:10 PM PDT Two foreign telco partners are looking to increase their market share in Vietnam's saturated telecom market by raising their committed investment capital by hundreds of millions of dollars each. Hutchison Telecommunication (Vietnam) S.A.R.L, which is teaming up with HanoiTelecom to develop the Vietnamobile network, just received approval to pour $350 million into the network, raising [...]

Bold SOS credit growth move to right listing ship Posted: 02 May 2011 10:09 PM PDT With no signs of a let-up in inflation, the State Bank is again putting the squeeze on the banking sector credit growth. The consumer price index (CPI) rose 3.32 per cent in April, driving year-on-year inflation to 17.5 per cent, the highest level since December, 2009. In February, the State Bank responded to this upward [...]

PPP projects slow to gain sufficient traction Posted: 02 May 2011 10:08 PM PDT Private investors are keen to jump onto the public-private partnership investment bandwagon, but local authorities are failing to do their part. In the nearly six months since the Ministry of Planning and Investment (MPI) required authorities to send on lists of pilot public-partnership (PPP) projects, the MPI has heard only a resounding silence. "We urged [...]

No power cuts in May, ministry orders Posted: 02 May 2011 08:26 AM PDT The Ministry of Industry and Trade has ordered national power utility, Electricity of Vietnam, to ensure adequate supply and refrain from rotating blackouts in May. According to the ministry's Electricity Regulatory Authority, with water levels rising at hydropower plant reservoirs and new power sources coming online, the pressure on power supply should ease in May [...]

New decree on labelling to promote energy conservation Posted: 02 May 2011 08:05 AM PDT The Government issued Decree No 21/2011/ND-CP on March 29 requiring producers and importers to affix equipment and vehicles with energy labels pursuant to the Law on Energy Conservation. The regulation, effective on May 15, provides for two types of energy labels: comparative labels, which provide information on energy consumption, efficiency, and other information to help [...]

Basic freight rate down, but surcharges up Posted: 02 May 2011 08:04 AM PDT Since mid March 2011, shipping firms have been imposing a lot of new surcharges on enterprises which has burdened Vietnamese import and export companies. Surcharges in chaos The fact that shipping firms now collect a CIC (container imbalance charge) has been described by enterprises as "nonsense", because they believe that "this is the matter of [...]

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