Vietnam Business News

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• Lien Viet Bank receives IFC loan guarantee
• Seafood exports expected to hit US$5.3 billion
• Qatar Airways cancels flight, staff says: no idea
• Micro-insurance can help poor brace up for future: experts
• Levi Strauss finds Vietnam a good fit for jeans production
• Imports now a luxury
• A smaller world also brings big challenges
• Forex is still a hot potato to handle
• Local airlines charge more for domestic flights
• Expansion of good agricultural practices urged

Lien Viet Bank receives IFC loan guarantee Posted: 08 May 2011 10:56 PM PDT The International Finance Corporation will provide a total guarantee worth US$5 million to Lien Viet Bank under an agreement signed last Thursday. The agreement was part of the Global Trade Finance Programme in the framework of the Asian Development Bank’s annual meeting. Trade support under the programme will be conducted via letters of credit for [...]

Seafood exports expected to hit US$5.3 billion Posted: 08 May 2011 10:55 PM PDT Although most seafood businesses have not earned a profit in recent times due to increasing input costs and other difficulties such as lack of materials, they are expected to reach their US$5.3 billion export target. Difficulties Seafood exports to most major markets grew, such as the US (up 39 percent), Germany (up 32 percent and [...]

Qatar Airways cancels flight, staff says: no idea Posted: 08 May 2011 10:07 PM PDT Qatar Airways Friday cancelled its QR689 flight from Ho Chi Minh City to Doha with no explanation or official announcement, complained passengers. When asked, its staff members said "we have no idea". They also gave limited support to the elderly, female and child passengers, many told Tuoitrenews. They just talked to a limited number of [...]

Micro-insurance can help poor brace up for future: experts Posted: 08 May 2011 10:06 PM PDT Micro-insurance is a key tool to help the world's poor cope with unexpected setbacks, a panel of Asian Development Bank (ADB) experts said. The panel, titled "Protecting the Bottom Billion the Private Sector Way", said micro-insurance provides a prime opportunity for private sector insurers to help a large, underserved customer base and still make a [...]

Levi Strauss finds Vietnam a good fit for jeans production Posted: 08 May 2011 08:38 PM PDT "Vietnam is very important to Levi Strauss and it is one of our most important sourcing countries" The global leader in jeanswear Levi Strauss is looking to make Vietnam its  production hub for exporting jeans to Asia. Levi Strauss CEO John Anderson last week visited Vietnam and said the nation was an important part of [...]

Imports now a luxury Posted: 08 May 2011 08:37 PM PDT The import of so-called inessential luxury goods is on the cards due to a favourable low foreign exchange rate. The official foreign exchange rate has declined to VND20,750 per US dollar on May 6, from a record high level of VND20,930 on April 21. Dollar reserves in Vietnamese banks have increased in recent days as [...]

A smaller world also brings big challenges Posted: 08 May 2011 08:37 PM PDT Vietnam is increasingly attracting world attention as one of the fastest growing economies in Asia. It was recently ranked 34th in an Ernst & Young report into the globalisation of major economies around the world. Ernst & Young Asia-Pacific managing partner Lou Pagnutti tells VIR's Lien Huong his positive views about Vietnam's global integration and [...]

Forex is still a hot potato to handle Posted: 08 May 2011 08:36 PM PDT Greater administrative measures are waiting in the wings to pull the forex market back into the safety zone. Local monetary authorities must mull whether the forex market is too complex for technical measures and should administrative measures be applied. Louis Taylor, general director of Standard Chartered Bank Vietnam, said market participants would welcome a self-adjusting [...]

Local airlines charge more for domestic flights Posted: 08 May 2011 08:35 PM PDT Low-cost carrier Jetstar Pacific Airlines (JPA) and Air Mekong have both announced higher prices for their domestic flights. JPA's Vice President Ta Huu Thanh said JPA now has 12 different price levels for its domestic flights and one-way tickets for flights between Hanoi and Ho Chi Minh City now cost from 850.000 dong to 2.5 [...]

Expansion of good agricultural practices urged Posted: 08 May 2011 08:35 PM PDT Application of Good Agricultural Practices (GAP) in agricultural production to promote quality and safety is expected to help Vietnamese farm produce gain wider acceptance in both domestic and international markets, experts said at a conference in HCM City last Saturday. GAP is a collection of principles that apply to on-farm production and post-production processes, ensuring [...]

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