Vietnam Business News

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• Weak market No problem, say firms
• Vietnam eye to up trade with Myanmar
• Chinese fair to kick-off in Ha Noi
• Vietnam calls for German investment
• Security system provider heads to Vietnam
• Vietnam’s automobile industry undeveloped
• Vietnam Development Bank to auction VND800 Bln government bonds Tuesday
• Credit Suisse to advise on Vietcombank stake sale
• VCB initiation – paving the path for growth: VCSC
• IT sector sets bullish 60% growth target for year

Weak market No problem, say firms Posted: 16 May 2011 11:21 PM PDT With the stock market remaining depressed and liquidity drying up, many companies are finding it hard to raise money through issues, but some do buck the trend, managing not only to sell equity but also at attractive prices. Shareholders of Cotec Construction Joint Stock Company (CTD) have approved to make a private placement of 10.42 [...]

Vietnam eye to up trade with Myanmar Posted: 16 May 2011 11:20 PM PDT Twenty-four Vietnamese businesses are displaying their electric and consumer products at a fair in Myanmar which kicked off in Yangon on Sunday. With 100 booths, the four-day fair held by Myanmar’s Smart Business Group aims to strengthen bilateral trade ties between Myanmar and Viet Nam while opening up opportunities for Vietnamese products to penetrate the [...]

Chinese fair to kick-off in Ha Noi Posted: 16 May 2011 11:19 PM PDT The three-day Zhejiang Export Fair 2011 gets underway at the Ha Noi International Exhibition Centre tomorrow. The fair’s 200 booths will showcase the machinery and electronics industry, the textile and fabric sector, and the building and decoration materials industry. The fair, the first ever of its kind in the capital, will be a great chance [...]

Vietnam calls for German investment Posted: 16 May 2011 11:19 PM PDT Viet Nam’s Consul General in Germany Nguyen Huu Trang has called for German enterprises to step up technology transfer and boost economic management skills through investment in Viet Nam. He made the comments during a workshop in the German city of Pforzheim last week. At the same event, Pforzheim Mayor Gert Hager praised Viet Nam’s [...]

Security system provider heads to Vietnam Posted: 16 May 2011 11:18 PM PDT Swiss security products provider Sicpa Group plans to open three offices in Viet Nam with 300 staff to sell an anti-fraud solution to the Vietnamese beverage industry. The group’s head of business development Viktor Zemlicka said the company’s “security solution” would be sold under the name Vietrace. He said it was a secure platform that [...]

Vietnam’s automobile industry undeveloped Posted: 16 May 2011 11:16 PM PDT Vietnam's automobile industry remains underdeveloped in the last 20 years, with the fledging auxiliary industries and expensive prices compared to other countries. Statistics from the Ministry of Finance show local automobile joint ventures imported most of components from abroad. Since the Vietnamese auto industry came into being in 1991 with the licensing of the first [...]

Vietnam Development Bank to auction VND800 Bln government bonds Tuesday Posted: 16 May 2011 11:15 PM PDT State-run Vietnam Development Bank will auction VND800 billion ($38 million) of government bonds at the Hanoi Stock Exchange today, Tuesday, the bourse said last Friday. The 10-year bonds will be issued May 19, the stock exchange said in a statement. At its previous auction Apr. 22, the bank sold VND400 billion out of VND500 billion [...]

Credit Suisse to advise on Vietcombank stake sale Posted: 16 May 2011 11:14 PM PDT Credit Suisse has been reappointed to advise state-controlled Vietcombank, one of Vietnam's biggest and oldest banks, on the proposed sale of a 20-per-cent stake to foreign investors. The Swiss bank advised Vietcombank, which is 90.7 per cent owned by the state, on its abortive plan to attract a foreign strategic investor in 2007, when the [...]

VCB initiation – paving the path for growth: VCSC Posted: 16 May 2011 11:14 PM PDT VietCapital Securities Company initiates coverage on Vietcombank with an ADD rating and a price target of VND32,300, the broker said in a note to its clients. Asset quality concerns are abating as the bank built sufficient provisions and the bank's focus has shifted to improving business growth and margins. Also, a likely sale to a [...]

IT sector sets bullish 60% growth target for year Posted: 16 May 2011 11:12 PM PDT With leading software companies signing a slew of foreign contracts, the industry is eyeing a 60 per cent growth rate this year. The industry said the market has shown signs of strong recovery since last year. Analysts attributed the increase in foreign deals to Viet Nam’s capabilities in areas like information and communications technology, factory [...]

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