Vietnam Business News

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• Gold seen rising next week
• Marriage season hit gold-silver demand
• Inflation pushes companies to raise salaries
• Dong strengthens after dollar deposit rate caps cut
• Vietnamese group plants 100,000ha of rubber
• Logistic expo starts in City
• Tax on imported cars, motorbikes proposed
• Livestock industry aims for 8% growth this year
• Trade deficit to reach $7.5 billion in first half
• Industrial clusters fail to lure investors

Gold seen rising next week Posted: 05 Jun 2011 12:11 AM PDT Gold prices are seen rising again next week as the metal's safe-haven role will likely support the market. Silver prices are expected to remain range-bound to perhaps slightly weaker, especially if economic data continues to come in lower-than-expected. On the week, August gold futures prices on the Comex division of the New York Mercantile Exchange [...]

Marriage season hit gold-silver demand Posted: 04 Jun 2011 09:01 AM PDT Gold prices Saturday rose by Rs 110 to Rs 22,780 per ten grams on buying by local parties amid the marriage season and firming overseas trend. Sliver snapped its three-day losing streak, gaining Rs 450 to trade at Rs 54,450 per kg in the bullion market here on buying by stockists triggered by firming global [...]

Inflation pushes companies to raise salaries Posted: 04 Jun 2011 03:27 AM PDT A recent survey conducted by Navigos Search showed that up to 54 per cent of respondent businesses had increased staff salaries by between 11 and 15 per cent in 2011. In 2010, just 40 per cent of surveyed companies said they had raised salaries. As many as 81 per cent of the companies surveyed said [...]

Dong strengthens after dollar deposit rate caps cut Posted: 04 Jun 2011 03:25 AM PDT Vietnam’s dong gained against the US dollar after the central bank reduced interest rates for dollar deposits to support the local currency. government bonds rose. The State Bank of Vietnam lowered the rate cap on dollar deposits by individuals to 2 percent from 3 percent, and cut the limit for institutions to 0.5 percent from [...]

Vietnamese group plants 100,000ha of rubber Posted: 04 Jun 2011 03:24 AM PDT The Viet Nam Rubber Group (VRG) ‘s four subsidiaries yesterday kicked off a project to plant 100,000ha of rubber trees in Cambodia’s Kratie Province under an agreement between the two countries. The subsidiaries are the Dong Nai Kratie, Dong Phu Kratie, Phu Rieng Kratie and Loc Ninh Kratie companies. Addressing the ceremony, Cambodian Deputy Prime [...]

Logistic expo starts in City Posted: 04 Jun 2011 03:24 AM PDT The two-day second Viet Nam Logistics and Supply Chain Exhibition and Conference (Viet Nam Logso) started in HCM City yesterday, featuring more than 55 worldwide and local exhibitors. Nguyen Thi Xuan Oanh, LogSo account manager, said LogSo helped industry businesses streamline their operations and improve supply chain visibility, maximise operation efficiency and flexibility, cut costs [...]

Tax on imported cars, motorbikes proposed Posted: 04 Jun 2011 03:23 AM PDT The Viet Nam Association of Financial Investors (VAFI) is proposing that the Government impose a new tax on automobiles and motorbikes in order to reduce traffic congestion as well as the nation’s trade deficit. VAFI general secretary Nguyen Hong Hai said that the Ministry of Finance should consider a new tax on automobiles and motorbikes [...]

Livestock industry aims for 8% growth this year Posted: 04 Jun 2011 03:23 AM PDT The livestock industry will strive to raise its production value by 7.5-8 per cent and increase the ratio of livestock production from 28 per cent to 30 per cent of the total agricultural output this year, an official said at a conference in HCM City yesterday. The livestock industry aimed to produce 4.2-4.3 million tonnes [...]

Trade deficit to reach $7.5 billion in first half Posted: 04 Jun 2011 03:23 AM PDT The Ministry of Planning and Investment expects the trade deficit in the first half of the year to be US$7.5 billion, despite optimism about exports. In a report submitted to the Government this week, the ministry anticipated that the total export revenue in the first six months of the year would be $41.5 billion, up [...]

Industrial clusters fail to lure investors Posted: 04 Jun 2011 03:22 AM PDT Despite receiving privileges and developing quickly, industrial clusters have not attracted a sufficient number of investors. Many of them have completed infrastructure construction and begun operations, but customers comprise only 30 per cent. In addition, service supply, management, waste treatment, environmental protection and social security have created problems for the industrial clusters. HCM City’s master [...]

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