Vietnam Business News

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• Nha Trang Sea Festival 2011 to kick off
• Farmers hit by poor winter-spring rice harvest
• Work on 345b dong Ninh Thuy IZ starts in central
• ANZ Vietnam: profit before provision at $7.2m in 2010
• Korean bank wants to open branch in Vietnam
• Train fare to rise 7pct
• Truong Hai aims to top Vietnam car market
• Vietnam tightens control over cell phone, wine imports
• Visitors enjoy ‘queen of beaches’ plus island and battle site tours
• Firm issues first US dollar bonds

Nha Trang Sea Festival 2011 to kick off Posted: 14 May 2011 07:05 AM PDT The Sea Festival 2011, themed "Nha Trang – the Sea Rendezvous", will take place from June 11 to 15 in Nha Trang city in the central coastal province of Khanh Hoa. The opening and closing ceremonies will be designed by Director Duong Thao, and the sea will be the major theme. Various cultural, art and [...]

Farmers hit by poor winter-spring rice harvest Posted: 14 May 2011 07:04 AM PDT More than a thousand hectares of winter-spring rice in central Thua Thien-Hue Province are ready for harvest, yet have failed to produce grains, placing many households in a rice seedling shortage and lean harvest. Halting the harvester at a seedless rice field, farmer Dinh Nhu Bui in Phu Ho Commune in Phu Vang District is [...]

Work on 345b dong Ninh Thuy IZ starts in central Posted: 14 May 2011 07:01 AM PDT Hoan Cau Van Phong Co Ltd on May 10 kicked off construction on Ninh Thuy Industrial Zone (IZ) project under the development scheme for Van Phong Economic Zone till 2020. The Ninh Thuy IZ covering an area of 207.9 hectares with a total investment of 345 billion dong will be built in Ninh Thuy ward, [...]

ANZ Vietnam: profit before provision at $7.2m in 2010 Posted: 14 May 2011 07:00 AM PDT ANZ Vietnam one-member Bank Limited on May 13 officially announced the business results in 2010, the first fiscal year after becoming 100 percent foreign-invested bank since May 2009, with total income from business activities at $56.6 million (or 1.072 trillion dong) and profit before spending on its backup fund at $7.2 million (or 135.5 billion [...]

Korean bank wants to open branch in Vietnam Posted: 14 May 2011 07:00 AM PDT Korea-based Hana Bank plans to upgrade its Ho Chi Minh City representative office into a branch, its president Kim Jeong-tae said. He had expressed interest in setting up operations in Vietnam at a recent meeting with senior Vietnamese financial officials, Korea's JoongAng Daily reported. But the approval may not be given this year, he told [...]

Train fare to rise 7pct Posted: 14 May 2011 06:59 AM PDT The price of tickets for air-conditioned seats and beds on trains will be increased by 7 percent as from May 25, the Saigon Railway Station announced yesterday. Meanwhile, the station will cut 20 percent of ticket price for passengers aged over 65 years old from May 25 to August 15, said Nguyen Van Thanh, deputy [...]

Truong Hai aims to top Vietnam car market Posted: 14 May 2011 06:58 AM PDT Vietnamese car assembler Truong Hai says it has captured 27.7 percent of the domestic market and is on its way to become the market leader this year. The company, which assembles vehicles including South Korean KIAs and Hyundais, topped April sales with 3,104 units, beating Toyota for the second month in a row. Truong Hai, [...]

Vietnam tightens control over cell phone, wine imports Posted: 14 May 2011 06:57 AM PDT The Ministry of Industry and Trade has announced a new rule requiring all cell phone, wine and beauty product imports to go through one of three major seaports in Hai Phong, Da Nang and Ho Chi Minh City. The new regulation, effective June 1, means importers are no longer allowed to bring these products into [...]

Visitors enjoy ‘queen of beaches’ plus island and battle site tours Posted: 14 May 2011 06:35 AM PDT Located in the coastal district of Vinh Linh in the central province of Quang Tri , Cua Tung Beach is the nation’s “Queen of Beaches”, awaking the curiosity of many visitors to come and experience its beauty. The kilometre-long beach is neither long nor wide, but the water is gentle and clear. Two underground rock [...]

Firm issues first US dollar bonds Posted: 14 May 2011 06:34 AM PDT The HCM City-listed Hoang Anh Gia Lai Group has raised US$90 million from an overseas bond sale on Wednesday, making it the first Vietnamese private company to sell US dollar bonds. The coupon for the five-year-non-call-three bonds is set at 9.875 per cent per year. The note was offered at US$96.181. As planned, the property [...]

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