Vietnam Business News

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• Group urges sugar price stabilisation
• Consortium to buy up surplus rice
• Most businesses less confident on economy
• High interest rates hit energy development
• Consumer Price Index continues to slow
• Government bond yields ease on higher demand: economists
• Cassava exports increase as China prices surge
• Agencies warn against FDI virtual capital in real estate projects
• Brewery opens $23m factory in Hai Phong
• Pay back time for steel firms

Group urges sugar price stabilisation Posted: 20 Jun 2011 09:04 PM PDT The re-import of sugar is necessary in order to stabilise prices in the domestic market, according to a proposal by the Viet Nam Sugarcane Association sent to the Ministries of Agriculture and Rural Development as well as Industry and Trade. The proposal is based on current market demand and supply and not on official demand, [...]

Consortium to buy up surplus rice Posted: 20 Jun 2011 09:04 PM PDT The Viet Nam Food Association (VFA) plans to purchase 1 million tonnes of summer-autumn rice between July 15 and August 30, but enterprises are concerned over a lack of capital for purchasing activities. The association’s 80 member enterprises will purchase 1 million tonnes for temporary stock in order to maintain the price of rice at [...]

Most businesses less confident on economy Posted: 20 Jun 2011 09:03 PM PDT The first quarter of this year has seen a drop in confidence among both business leaders and consumers about the nation’s economic prospects, according to the Viet Nam Business Barometer Survey carried out by Nielsen. “Nearly two-thirds of the business leaders surveyed said that business conditions were worse now compared to a year ago and [...]

High interest rates hit energy development Posted: 20 Jun 2011 09:03 PM PDT Energy groups have expressed their concerns regarding excessive loan interest rates and capital shortages that have made it hard to survive, a recent seminar heard. During the Ha Noi seminar last week, organised by the Viet Nam Energy Association (VEA) in order to find ways of speeding up energy projects, participants bemoaned current high lending [...]

Consumer Price Index continues to slow Posted: 20 Jun 2011 09:03 PM PDT The Consumer Price Index (CPI) in Ha Noi and HCM City continued slowing down for a second consecutive month, driven by more stable utilities and food prices. Ha Noi’s June CPI slowed and increased by only 1.21 per cent from the previous month, according to the Ha Noi Statistics Office. The pace of slowing is [...]

Government bond yields ease on higher demand: economists Posted: 20 Jun 2011 09:01 PM PDT Government bond yields have eased as demand for Government bond yields are mounting, the local newswire Thanh nien reported June 20, citing economists’opinions. Trinh Hoai Giang, Vice Chairman of Vietnam Bond Associations pointed out that higher demand for Government bonds can be explained by three main reasons: inter-bank interest rates have recently plunged; a huge [...]

Cassava exports increase as China prices surge Posted: 20 Jun 2011 08:57 PM PDT Vietnam exported $638 million of cassava in the first five months of the year, nearly equal to 110 per cent of the entire export revenue of last year, according to the Ministry of Agriculture and Rural Development. Although the domestic price has risen to VND5,800 a kg, cassava is still exported to China in large [...]

Agencies warn against FDI virtual capital in real estate projects Posted: 20 Jun 2011 08:56 PM PDT Experts have pointed out that while the registered foreign direct investment (FDI) in the real estate sector is relatively high, the implemented capital remains modest, which means a high proportion of "virtual capital". The statistics released by the Ministry of Planning and Investment (MPI) show satisfactory figures about the foreign direct investment (FDI) in the [...]

Brewery opens $23m factory in Hai Phong Posted: 20 Jun 2011 08:55 PM PDT The Ha Noi Beer, Alcohol and Beverage Corp opened its new factory, worth VND472 billion (US$23 million), in the northern port city of Hai Phong last Saturday. Located in the city’s An Lao District, the plant has an annual production capacity of 50,000,000 litres of beer.

Pay back time for steel firms Posted: 20 Jun 2011 08:54 PM PDT According to the Ministry of Finance (MoF), steel firms had benefited from cheap power prices. In reality, from March 1, 2011 the average power price stood at VND1,241 per kWh (up 15.3 per cent on average against the previous level) while that sold to steel firms was only VND535 per kWh. Thus, in churning out [...]

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