Vietnam Business News

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• Gold continues sliding on June 27
• SBV weakens reference rate first time since June 13
• FDI hit $5b in H1, slightly down on 2010
• Consumer rights protection law to take effect on Friday
• VN-Switzerland trade, investment has much potential for expansion
• Trans-Pacific partnership yields good results – and more on way
• ASEAN, NZ and Australia talk on trade integration
• HCM City declares victory on inflation
• HCM City will spend $837m on rural areas
• Online bids may help VN suppliers

Gold continues sliding on June 27 Posted: 27 Jun 2011 10:23 PM PDT The price of gold in Vietnam slid by VND10,000-20,000 a tael on June 27 as global price prolonged losing momentum in Asian market this morning. Most gold shops purchased the metal at above VND37.6 million and sold at nearly VND37.7 million, the lowest level in the past two weeks. Sacombank Jewelry Company bought the metal [...]

SBV weakens reference rate first time since June 13 Posted: 27 Jun 2011 10:22 PM PDT The dong fell against dollars as the State Bank of Vietnam (SBV) on June 28 raises the reference rate by VND 5 to VND 20.623 per dollar for the first time since June 13, according to the central bank's data on its website. Given the latest midpoint rate, the dollar prices could move between 20,417and [...]

FDI hit $5b in H1, slightly down on 2010 Posted: 27 Jun 2011 09:29 PM PDT Foreign investors poured US$5.3 billion into the country in the first half of the year, down roughly 1.9 per cent against the same period last year, the Ministry of Planning and Investment’s Foreign Investment Agency reported. During the period, foreign investors also registered to pump nearly $5.67 billion into 587 projects, equal to only 62.7 [...]

Consumer rights protection law to take effect on Friday Posted: 27 Jun 2011 09:28 PM PDT Agencies, associations, social organisations, businesses and consumers must become aware of the new Vietnamese law on consumer rights’ protection that will become effective on July 1, a ministry official has said. Dr Vu Thi Bach Nga of the Ministry of Industry and Trade said the law, passed by the National Assembly late last year, consists [...]

VN-Switzerland trade, investment has much potential for expansion Posted: 27 Jun 2011 09:27 PM PDT Two-way trade and investment between Viet Nam and Switzerland has increased gradually and has potential to expand much further, said Prime Minister Nguyen Tan Dung yesterday while receiving out-going Swiss ambassador Jean-Hubert Lebet. Dung said the two countries should create more favourable conditions for businesses from Viet Nam and Switzerland to invest in and penetrate [...]

Trans-Pacific partnership yields good results – and more on way Posted: 27 Jun 2011 09:27 PM PDT The seventh round of negotiations on the Trans-Pacific Strategic Economic Partnership Agreement has achieved important results and is expected to attain several goals in key areas by year-end, according to trade officials. Deputy Minister of Industry and Trade Tran Quoc Khanh said at a press conference on Friday that partner countries had made progress in [...]

ASEAN, NZ and Australia talk on trade integration Posted: 27 Jun 2011 09:26 PM PDT The inaugural seminar of the Integration Partnership Forum of ASEAN, Australia and New Zealand was held on Saturday in the Malaysian capital of Kuala Lumpur to discuss the benefits of regional economic integration and multilateral trade deals. The forum which was initially proposed by New Zealand Prime Minister John Key in discussions with ASEAN leaders [...]

HCM City declares victory on inflation Posted: 27 Jun 2011 09:26 PM PDT HCM City’s efforts to tackle inflation are paying off, with the consumer price index levelling off. The city government told a meeting held yesterday to review the socio-economic situation in June and the first half that the price rise in June, of 0.69 per cent, was the “lowest” in the last eight months. It was [...]

HCM City will spend $837m on rural areas Posted: 27 Jun 2011 09:25 PM PDT HCM City will spend VND17.58 trillion (US$837 million) under a programme to build new rural areas in its five outlying districts by 2020, the steering committee set up for it has said. Cu Chi District’s Tan Thong Hoi, one of 11 communes selected countrywide for a national pilot pro-gramme, will, by the end of this [...]

Online bids may help VN suppliers Posted: 27 Jun 2011 09:21 PM PDT The wider application of online bidding might help increase the competitiveness of Vietnamese suppliers in terms of government procurement, said director of the Ministry of Planning and Investment’s Bidding Management Department Le Van Tang. Speaking at a workshop on government procurement in the context of the Trans-Pacific Partnership (TPP) agreement in Ha Noi yesterday, Tang [...]

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