Vietnam Business News

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• VietCapital Securities sees good entry point
• Gold moves around VND37.5 million
• EVN seeks advice after FPT pullout
• Argentine firms explore Vietnamese market
• SBV urged to slash US dollar rates
• HCM City hosts lighting, home decor expos
• VN shipping firms struggle to compete
• Tax breaks for Con Dao islanders
• Agricultural sector urged to boost exports
• Italian investors look for dolce vita in Vietnam

VietCapital Securities sees good entry point Posted: 23 May 2011 10:49 PM PDT VCSC believes there is value to being a contrarian in Vietnam given its capital markets dynamics and typical herd instinct of most domestic investors, the broker said in the following note emailed to its customers. Widespread pessimism weighs on Vietnamese equities, provides good entry point Widespread pessimism from escalating fears of imminent margin calls and [...]

Gold moves around VND37.5 million Posted: 23 May 2011 10:48 PM PDT The price of gold in Vietnam stalled around VND37.5 million a tael (1.2 ounces) on May 23 as global price slid this morning after sharply jumping last Friday. Sacombank Jewelry Company bought the metal at VND37.41 million and sold at VND37.49 million as of 9:15 am local time. Meanwhile, Hanoi-based Phu Quy Jewelry Company purchased [...]

EVN seeks advice after FPT pullout Posted: 23 May 2011 10:48 PM PDT The Electricity of Viet Nam plans to consult the Prime Minister for suggestions regarding the withdrawal of an FPT deposit of more than VND700 billion (US$34 million) meant for repurchasing EVN Telecom shares, said Dinh Quang Tri, deputy general director of Electricity of Viet Nam. FPT declared not to repurchase Electricity of Viet Nam’s (EVN) [...]

Argentine firms explore Vietnamese market Posted: 23 May 2011 10:46 PM PDT The Embassy of Viet Nam in Argentina and the Chamber of Commerce, Industry and Production of the Argentine Republic recently co-organised a business conference in Argentina’s capital city Buenos Aires with the aim of attracting investors to the Vietnamese market. The conference attracted around 100 Argentine firms from various sectors including customs and commerce consultancy, [...]

SBV urged to slash US dollar rates Posted: 23 May 2011 10:46 PM PDT The Viet Nam Association of Financial Investors has called for the central bank to slash the deposit interest rate on US dollars. Nguyen Hoang Hai, general secretary of the association, said deposit interest rates on the US dollar for enterprises should be cut to zero from the current rate of 1 per cent while the [...]

HCM City hosts lighting, home decor expos Posted: 23 May 2011 10:46 PM PDT Wind and solar powered lighting as well as other environmentally friendly products will be presented at two international exhibitions held simultaneously in HCM City later this year. Organisers said at a press conference yesterday that the exhibitions would showcase the latest lighting, furniture and interior decoration products and solutions from 250 foreign and local companies. [...]

VN shipping firms struggle to compete Posted: 23 May 2011 10:45 PM PDT More than two years after being hit by the global recession, the domestic shipping sector is still struggling, according to experts. Viet Nam has about 1,880 ships with a combined total weighing of 8 million dead weight tonnage (DWT). However, these ships have only transported 7.6 per cent of all domestic products shipped by sea, [...]

Tax breaks for Con Dao islanders Posted: 23 May 2011 10:44 PM PDT Personal income tax for Vietnamese and foreigners who work on the islands of Con Dao has been reduced by 50 per cent, in a proposed draft of preferential policies by the Ministry of Planning and Investment. The draft aims to turn Con Dao into a high-quality tourism destination in the region. The Con Dao archipelago [...]

Agricultural sector urged to boost exports Posted: 23 May 2011 10:44 PM PDT Domestic agricultural producers must boost exports to help reduce the country’s trade deficit, said economist Pham Do Chi. Chi said if the sector did not increase production and foreign sales, the country’s trade deficit would reach US$15 billion this year. According to the General Statistics Office, in the first four months of this year, the [...]

Italian investors look for dolce vita in Vietnam Posted: 23 May 2011 08:53 PM PDT It is a case of forza Italia for Italian investment projects in Vietnam. Italian ambassador to Vietnam Lorenzo Angeloni told VIR that the Italian government would financially fuel prospective Vietnamese-Italian joint ventures and the Vietnamese government projects. Priorities would be given to joint ventures engaging in agriculture, breeding, fisheries, food-processing and craftsmanship. Energy, transportation, waste [...]

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