Vietnam Business News

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• Rag trade eyes moves to low cost Vietnam
• Can Vietnam contain inflation and achieve development goals?
• Private investment expected in infrastructure
• New urban area to take shape
• Vietnam should strengthen role of private area in urbanization process
• PPC finalises electricity price negotiation with EVN
• PetroVietnam gains 205tr dong revenue in Jan-Apr
• SaigonTel gives up on stock exchange
• Eximbank opens Hanoi representative office
• Banks pursue listing plans in 2011

Rag trade eyes moves to low cost Vietnam Posted: 05 May 2011 01:41 AM PDT More foreign garment and textile investors are stitching up investment deals in Vietnam as production costs rise in China. Last week, Hai Duong provincial People's Committee licensed a joint venture between Pacific Vietnam Textile Limited and Crystal Corporation to build garment and textile complex at the cost of $180 million. The total targeted turnover for [...]

Can Vietnam contain inflation and achieve development goals? Posted: 05 May 2011 01:40 AM PDT If the Vietnamese Government strictly pursues preferential policies it will be able to keep the rate of inflation at 11 percent in 2011. How to keep inflation under control and achieve development goals dominated the Vietnam Business Summit (VBS) held in Hanoi on May 3 under the framework of the 44th ADB annual meeting. Minister [...]

Private investment expected in infrastructure Posted: 04 May 2011 09:13 PM PDT The Government has reiterated its policy of attaching importance to private investment in infrastructure development. Deputy Minister of Planning and Investment (MPI) Dang Huy Dong told a meeting on public-private partnerships (PPP) in Hanoi on May 4 that the Government expected the policy would attract not only investment, but also advanced technology and managerial experience [...]

New urban area to take shape Posted: 04 May 2011 09:12 PM PDT The shape of the Thu Thiem new urban town on the bank of the Saigon River is now clearer with revisions. However, it will take a long time to materialize the planning. On April 5, the project to revise the 1/2000 scale planning of the new urban town of Thu Thiem was introduced to related [...]

Vietnam should strengthen role of private area in urbanization process Posted: 04 May 2011 09:11 PM PDT Urbanization is an opportunity for groups and private enterprises to join capital contribution for the infrastructure development and investment, Yoshihiko Noda, Japanese Minister of Finance, said at the Governors' seminar themed Asia 2050: Pursuit of Growth, Sustainability and Well Being" within the framework of the 44th annual meeting of the Board of Governors of the [...]

PPC finalises electricity price negotiation with EVN Posted: 04 May 2011 09:11 PM PDT The leaders of Pha Lai Thermo Power Joint Stock Co (PPC) announced lately that the company has already finished negotiating the electricity price for the period of 2010-2013 with the final price of 698 dong per KWh. Meanwhile, the other power producers such as Vinh Son Song Hinh Hydropower Joint Stock Co (VSH), Thac Ba [...]

PetroVietnam gains 205tr dong revenue in Jan-Apr Posted: 04 May 2011 09:10 PM PDT Vietnam National Oil and Gas Group (PetroVietnam-PVN) has recently announced the business results in the first four months of this year with satisfactory figures. Accordingly, the group said its total revenue at 205 trillion dong or 41 percent of the year’s plan and up 49 percent year on year, of which, revenue from oil sales [...]

SaigonTel gives up on stock exchange Posted: 04 May 2011 09:07 PM PDT Telecommunications firm SaigonTel plans to terminate its listing on the Ho Chi Minh Stock Exchange in what it says is a move to restructure its business in a gloomy market. “The stock market has lost its appeal as it is no longer a good channel to help companies raise funds. Many firms have recently failed [...]

Eximbank opens Hanoi representative office Posted: 04 May 2011 09:06 PM PDT The Export-Import Bank of the Republic of Korea (Korea Eximbank) on May 4 opened a representative office in Hanoi, the second of its kind in Vietnam following another in Ho Chi Minh City . The office will support RoK businesses operating in the Southeast Asian region while contributing to developing economic cooperation between Vietnam and [...]

Banks pursue listing plans in 2011 Posted: 04 May 2011 09:05 PM PDT Several banks are still pursuing their plans for listing on bourse despite the dreary outlook for the capital market this year, saying the move is aimed to ensure liquidity for their shareholders. DongA Commercial Bank, Techcombank, and Military Bank are among credit institutions that are finalizing procedures to get listed in 2011, but they will [...]

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