Vietnam Business News

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• Gov’t approves Petrolimex equitization plan
• UK-owned consulting firm honored
• Vietnam sees rapid development in broadband
• German helps study wind energy in Vietnam
• US lawmakers worried on Vietnam textiles in pact
• Vietnam: gold loses its lustre
• Local banks unease as property prices down, trading frozen
• Gold steady on weak US data, Greek crisis
• Vietnam coffee prices to rise on tight supply
• Vietnam software piracy rate down to 83%, says BSA

Gov’t approves Petrolimex equitization plan Posted: 01 Jun 2011 09:32 PM PDT Deputy Prime Minister Nguyen Sinh Hung has approved a plan to equitize Vietnam National Petroleum Corp, or Petrolimex, which controls 60 percent of the country's fuel distribution network. As in most cases, the government will keep a controlling stake. It allowed Petrolimex to sell a 2.56 percent stake at an initial public offering, while the [...]

UK-owned consulting firm honored Posted: 01 Jun 2011 09:31 PM PDT Grant Thornton Vietnam Co has been honored with the Certificate of Merit from the Prime Minister of Vietnam and the Ministry of Finance (MoF) for its contribution to the development and progress of the auditing profession in Vietnam in 2006-2010. The UK-owned company is among 3 auditing firms and 12 other individuals awarded with the [...]

Vietnam sees rapid development in broadband Posted: 01 Jun 2011 08:53 PM PDT Vietnam is anticipating strong development in broadband communications, an International Telecommunication Union (ITU) official said on the sidelines of the Vietnam 2011 ITU Conference, in Hanoi on June 1. Mario Maniewicz, ITU Development and Policy director, affirmed his organisation's willingness to help Vietnam build policies and strategies for the development of broadband services nationwide. Vietnam [...]

German helps study wind energy in Vietnam Posted: 01 Jun 2011 08:53 PM PDT A workshop to introduce two handbooks namely, "Information on the Wind Energy Sector of Vietnam" and "Guidelines on Wind Power Planning in Vietnam" will be held on June 3 in Hanoi. Co-organised by the Ministry of Industry and Trade and GTZ, two books introduced are material involved in the Wind Energy Project, commissioned by the [...]

US lawmakers worried on Vietnam textiles in pact Posted: 01 Jun 2011 08:51 PM PDT More than 50 lawmakers voiced concern Wednesday about opening the US market to Vietnam’s textiles under a proposed Pacific Rim trade pact, saying the move would devastate the domestic industry. Fifty-two members of the House of Representatives — ranging from liberal Democrats to conservative Republicans — called for special rules on textiles as the United [...]

Vietnam: gold loses its lustre Posted: 01 Jun 2011 08:50 PM PDT When the government closed down the lucrative, open black market trade in US dollars back in March, one Hanoi gold dealer, who also traded forex, predicted that the crackdown would be eased within a week. He was wrong. The steadfast enforcement of the dollar black market clampdown has left Vietnamese consumers fretting about the gold [...]

Local banks unease as property prices down, trading frozen Posted: 01 Jun 2011 08:49 PM PDT Local banks are unable to sit still near the property loan collection deadline as the property market is going down, the local newswire VnMedia reported June 2. There's only one month left till June 30, 2011 when all the banks must pull down outstanding loans for non-manufacturing factors (property, securities, and consumption) to 22% of [...]

Gold steady on weak US data, Greek crisis Posted: 01 Jun 2011 08:46 PM PDT Spot gold held steady on Thursday, supported by worries about economic recovery triggered by sluggish U.S. employment and manufacturing data, and as optimism over a solution to the Greek debt crisis faded after Moody’s cut the country’s credit rating Spot gold [XAU= 1539.6899 -0.51 (-0.03%) ] edged up 0.1 percent to $1,541.89 an ounce, extending [...]

Vietnam coffee prices to rise on tight supply Posted: 01 Jun 2011 08:44 PM PDT Domestic coffee prices in Vietnam, the world’s second-largest producer, could rise more than 6 percent in the second half of this year due to tight global supplies, the Agriculture Ministry said on Wednesday. * Vietnam coffee prices may hit $2,680-$2,924/T * Vietnam’s current stocks seen down at 2.5-4.08 mln bags * Next harvest seen at [...]

Vietnam software piracy rate down to 83%, says BSA Posted: 01 Jun 2011 08:44 PM PDT The personal computer software piracy rate in Vietnam fell 2% to 83% last year, remarking the first decrease after three consecutive years with the unchanged rate of 85% in 2007-2009, the Business Software Alliance (BSA) s This result comes from the 2010 BSA Global Software Piracy Study that Sai Gon Giai Phong saw Wednesday. However, [...]

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