Vietnam Business News

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• HCM City rises in the east
• Gas stations fined for hoarding
• Hotel developers ask for investment incentives
• Vietnam strives to keep inflation at 11.75 percent
• Vietnam Airlines to have 34 more aircrafts
• VinaCapital wins Asian property awards
• Fever of seeking foreign strategic shareholders ends up
• Citigroup gives recommendations for developing Vietnam’s banking system
• Central bank further tightens monetary policy
• Bonds start to regain appeal

HCM City rises in the east Posted: 03 May 2011 11:18 PM PDT The eastern part of HCM City has been transforming rapidly thanks to several key transport projects and new modern urban areas with high rises that are springing up along the Sai Gon River.   The East-West Highway, which was given the name of former Prime Minister Vo Van Kiet last week, was partially completed last [...]

Gas stations fined for hoarding Posted: 03 May 2011 11:11 PM PDT Many of the gas stations in Mekong Delta and Southeastern regions which have been founded to stop selling to hoard were fined Tuesday. Luu Van Nguyen, CEO of Petromekong, confirmed that Gas Station No.30 in Duyen Hai District in Tra Vinh Province had been fined for hoarding. He said the petrol supply given to this [...]

Hotel developers ask for investment incentives Posted: 03 May 2011 11:09 PM PDT The Vietnam National Administration of Tourism (VNAT) is going to lodge a proposal to the government, asking for investment incentives for the enterprises that develop hotels and tourism accommodations. Do Thi Hong Xoan, Chair of the Hotel Association, thinks that the current tax policy applied on tourism accommodations is unreasonable. "A resort area covers 20 [...]

Vietnam strives to keep inflation at 11.75 percent Posted: 03 May 2011 11:04 PM PDT The Vietnamese government will make every effort to keep this year's inflation at 11.75 percent, a similar level to last year, said Minister of Planning and Investment Vo Hong Phuc. Speaking at the Vietnam Business Summit during the Asian Development Bank (ADB) 44th Annual Meeting in Hanoi on May 3, Minister Phuc affirmed that the [...]

Vietnam Airlines to have 34 more aircrafts Posted: 03 May 2011 08:45 PM PDT National carrier Vietnam Airlines will add 34 aircrafts to its fleet for operation between 2011 and 2015. The government has guaranteed a leasing contract for Vietnam Airlines to hire eight A321-200 aircrafts for the period. The carrier is also allowed to buy 26 A321-200 aircrafts in the period, according to a new decision by Prime [...]

VinaCapital wins Asian property awards Posted: 03 May 2011 08:45 PM PDT VinaCapital, an asset management and real estate development group, says its Ocean Villas luxury residential villas project underway in the central coast city of Danang has won two categories in the 2011 Asia Pacific Property Awards. The group says the category of 'Best Golf Development' award recognized the Ocean Villas as an integrated beachfront golf [...]

Fever of seeking foreign strategic shareholders ends up Posted: 03 May 2011 08:39 PM PDT Plan in seeking foreign strategic shareholders now is not included in resolutions, proposals of banks in annual shareholder meeting season anymore, showing that the fever of seeking the kind of shareholders has ended, the local newswire VnExpress reported. Between late 2008 and 2009 early when the world was facing the financial crisis, An Binh Commercial [...]

Citigroup gives recommendations for developing Vietnam’s banking system Posted: 03 May 2011 08:39 PM PDT At the recent Vietnam Business Summit, Breet Krause—General Director of Citigroup in Vietnam said that Vietnam needs really to improve its banking system structure. He also gave some comments on the industry situation, and recommendations for developing the industry as follows: Institutions who joined in the banking system of Vietnam have stronger capacity, prioritize competitive [...]

Central bank further tightens monetary policy Posted: 03 May 2011 08:37 PM PDT The State Bank of Vietnam on Friday in an apparent move to further tighten its monetary policy to fight inflation has just decided to raise its key rates effective from May 1. The central bank last week decided to raise the refinancing rate for commercial banks from 13 percent to 14 percent per year, discount [...]

Bonds start to regain appeal Posted: 03 May 2011 08:33 PM PDT However, the more bond issuers lift their offered yields, the more successful the auctions will be. Traders have returned to government bonds after issuers raised offered yields. On April 21, 350 billion dong ($17.5 million) worth of three-year bonds were taken at a 12.3 percent, per year yield and 301 billion dong ($15 million) worth [...]

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