Vietnam Business News

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• Hanoi to continue investment in some infrastructure projects
• EVN re-asks electricity price increase due to ‘capital shortage’
• May performance report of ETF funds
• Foreign bank branches allowed to raise cap
• Gold reaches 38.04m dong/tael
• EVN licensed to operate in its non-core sectors
• Mumbai seminar promotes Vietnam-India trade
• Vietnam Marine Economy Forum opens
• Jetstar Pacific owes $8.7 mln fuel debt
• Hanoi real estate prices outstrip HCM City

Hanoi to continue investment in some infrastructure projects Posted: 08 Jun 2011 12:12 AM PDT Hanoi city People's Committee will continue investing in some major infrastructure projects, including Vinh Tuy bridge construction Phase 2 with total estimated cost of 2.5 trillion dong and Nguyen Hoang Ton road construction project capitalized at more than 1.273 trillion dong, according to the Ha Noi Moi newspaper. Transport Engineering Design Incorporation (TEDI) was pointed [...]

EVN re-asks electricity price increase due to ‘capital shortage’ Posted: 08 Jun 2011 12:12 AM PDT The biggest difficulty the Electricity of Vietnam (EVN) has faced during the first five months was in accessing capital for major projects under construction, and the capital shortage has made many projects lag in progress, said its Deputy General Director Duong Quang Thanh said on June 6 in the online meeting with Ministry of Industry [...]

May performance report of ETF funds Posted: 08 Jun 2011 12:11 AM PDT ETF funds in Vietnam could not win the market that was gloomy in the recent time. From the establishment time, Net Asset Value of VNM ETF slumped 17.2% and FTSE ETF plunged 67.9%. When the slide of VN Index was made by strong offload of foreign investors with net sales of over 263 billion dong [...]

Foreign bank branches allowed to raise cap Posted: 08 Jun 2011 12:10 AM PDT The State Bank of Vietnam, the country's central bank, signed decisions to approve change in charter capital of two foreign bank branches. Accordingly, Bangkok Bank-HCM City branch on Monday was licensed to have new capital of $65 million which was raised from $15 million as recorded in License No 03/GP-NH dated April 15, 1992. One [...]

Gold reaches 38.04m dong/tael Posted: 08 Jun 2011 12:10 AM PDT SJC gold of Bao Tin Minh Chau Jewelry Co was traded at 37.92 million dong and 38 million dong per tael (purchase and selling) at 9am on June 7 in Hanoi, unchanged compared with the previous day afternoon. Meanwhile, SJC Hanoi Jewelry Co bought SJC gold at 37.95 million dong and sold at 38.03 million [...]

EVN licensed to operate in its non-core sectors Posted: 08 Jun 2011 12:10 AM PDT The Vietnamese Prime Minister has approved the organization and operation rules of the Electricity of Vietnam (EVN), accordingly the power group is allowed to operate under form of the state-owned one member limited company with a charter capital of more than 76.7 trillion dong. EVN can operate in four major industries: producing, transmitting, distributing and [...]

Mumbai seminar promotes Vietnam-India trade Posted: 08 Jun 2011 12:08 AM PDT Jointly organised by the Vietnamese Embassy and Vietnam Trade Office in India, the India-Vietnam Chamber of Commerce and Industry (IVCCI) and the Indian Entrepreneurs Office, the event drew the participation of almost 200 entrepreneurs from the two countries. Addressing the event, Vietnamese Ambassador to India, Nguyen Thanh Tan said he hoped the signed ASEAN-India Free [...]

Vietnam Marine Economy Forum opens Posted: 08 Jun 2011 12:08 AM PDT The Vietnam Marine Economy Forum (VMEF) was held in Nha Trang City in the southcentral coastal province of Khanh Hoa on June 8. The event, themed "Motivations and challenges for the development of Vietnam's coastal economic zones", creates an opportunity for domestic and foreign investors and experts to discuss the development potential of marine resources [...]

Jetstar Pacific owes $8.7 mln fuel debt Posted: 08 Jun 2011 12:07 AM PDT Budget carrier Jetstar Pacific owes VND180 billion (US$8.7 million) to fuel supplier Vietnam Air Petrol Company, the latter's CEO Tran Huu Phuc said at a press conference yesterday. Vinapco had said June 1 it would continue to supply jet fuel to Jetstar Pacific and extend the payment deadline until August if it was guaranteed by [...]

Hanoi real estate prices outstrip HCM City Posted: 08 Jun 2011 12:07 AM PDT According to real estate experts, homebuyers in the capital are paying far more than Ho Chi Minh City residents, despite lower per capita incomes, due to poor development procedures, speculation and lack of supply. Exorbitant Hanoi prices According to Nguyen Dinh Toan from the AZ Real Estate Company, a square metre in an apartment development [...]

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