Vietnam Business News

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• Shares plunge in HCM City while rising in Ha Noi
• Key industrial products to make up 10% of capital’s total exports value
• Mercedes drives the market in grand style
• Firms burn with ethanol dreams
• Discovery spat is ruffling feathers
• Rock solid currency is key
• Vietnam saves over 3.8tr dong of regular expenditure
• 2.5tr dong for Vinh Tuy phase 2 bridge construction
• More than 1.5tr dong to build Kon Tum airport
• HCM City affirms 2,500 overseas Vietnamese-owned enterprises

Shares plunge in HCM City while rising in Ha Noi Posted: 13 Jun 2011 01:38 AM PDT Share trading on the HCM City Stock Exchange closed negatively on Monday while reaching a high note on the Ha Noi bourse. Total trading volume across the two bourses rose to nearly 120 million shares, valued at VND1.63 trillion (US$79.1 million). In HCM City, the VN-Index closed on a 0.52 per cent slump of 442.69 [...]

Key industrial products to make up 10% of capital’s total exports value Posted: 13 Jun 2011 01:36 AM PDT The Ha Noi People’s Committee has ratified a programme on developing key industrial products to account for 10-15 per cent of the city’s total export revenue during 2011-15. Under the programme, the city expects the key products to represent 30-35 per cent of its total industrial production value and the annual growth rate of the [...]

Mercedes drives the market in grand style Posted: 12 Jun 2011 11:01 PM PDT Mercedes Benz has taken the lead in Vietnam's luxury car market due to its state-of-the-art technology. With its eye-catching Mercedes Fascination 2011 Exhibition, organised during June 8-12, 2011 at Hanoi's Giang Vo Exhibition Centre, Mercedes-Benz continues enhancing its world-leading position as a luxury brand name in all areas. "As we celebrate the 125th birthday of [...]

Firms burn with ethanol dreams Posted: 12 Jun 2011 11:00 PM PDT Leading Finnish technology firm Chempolis is closing on its dream of setting up a third generation ethanol manufacturing technology in Vietnam. A source from the Finnish Embassy to Vietnam's Finland Trade Centre (Finpro) said Chempolis was considering working with state-run Vietnam National Oil and Gas Group (PetroVietnam) on a joint venture project to transfer third [...]

Discovery spat is ruffling feathers Posted: 12 Jun 2011 11:00 PM PDT French-backed Bachy Soletanche Vietnam has been accused by its Vietnamese partner of intentionally delaying the construction of a high-rise complex project in Hanoi. In its statement of claim, Cau Giay Service and Trading Investment said the French contractor had halted construction without reasonable cause, thus violating the terms of the contract. The Vietnamese firm also [...]

Rock solid currency is key Posted: 12 Jun 2011 10:59 PM PDT Restoring confidence in its local currency is a key macro target for Vietnam. Sherman Chan, HSBC's Asean economist said the only welcome sign in recent months was the stabilisation of the Vietnam dong, which should help to limit imported inflation. "However, the widening trade gap also warrants immediate attention, as it may weigh on market [...]

Vietnam saves over 3.8tr dong of regular expenditure Posted: 12 Jun 2011 09:30 PM PDT Ministry of Finance reported that total cut of 10% in regular spending of central and local agencies, ministries since the start of 2011 was estimated at around 3.858 trillion dong. In which, central ministries and agencies saved nearly 900 billion dong (including MoF cut 167.85 billion, Ministry of Agriculture and Rural Development 86.07 billion dong, [...]

2.5tr dong for Vinh Tuy phase 2 bridge construction Posted: 12 Jun 2011 09:29 PM PDT Hanoi City People's Committee ordered Ta Ngan Infrastructure PMU to cooperate with relevant agencies to promote the progress of Vinh Tuy Phase 2 bridge construction and Ringroad 1—O Dong Mac to Nguyen Khoai section. The Vinh Tuy Phase 2 Bridge project has total estimated cost of around 2.5 trillion dong, which is expected to be [...]

More than 1.5tr dong to build Kon Tum airport Posted: 12 Jun 2011 09:28 PM PDT Under a plan announced by the Civil Aviation Administration of Vietnam (CAAV-the Ministry and Transport (MoT) and Kom Tum provincial People's Committee on June 10, a new airport will be built in Kon Tum city in the central highland province of Kon Tum. Accordingly, the airport covering an area of 162.2 hectares in Ngoc Bay [...]

HCM City affirms 2,500 overseas Vietnamese-owned enterprises Posted: 12 Jun 2011 09:25 PM PDT During the last 30 years from 1981 to 2011, HCM City-based banks have transferred over $20 billion of inward remittances, accounting for over 60% of the country's total figure, the HCM City Committee for Overseas Vietnamese reported. Money spending of overseas Vietnamese on social charity activities reached more than 60 billion dong in the reporting [...]

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