Vietnam Business News

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• Vietnam pilots first phase of energy market experiment
• Vietnam bank for social policies sells 14.2% of government bonds
• BNP Baribas to raise stake to 20% in Vietnam bank OCB
• Samsung gets a break
• Foreign investors pull out of local property market
• Wind in shipping firms’ sails
• Minimum salaries’ hike earlier than schedule
• Gold exports slow
• BMW shifts into high gear
• Investors keen on more golf courses

Vietnam pilots first phase of energy market experiment Posted: 03 Jul 2011 09:38 PM PDT The Ministry of Industry and Trade launched the competitive power generation market on July 1 with the participation of 48 power plants. The operation of the pilot energy market is aimed to test the legal framework, technical facilities and workforce training in order to audit the market's effects, said Dang Huy Cuong, director of the [...]

Vietnam bank for social policies sells 14.2% of government bonds Posted: 03 Jul 2011 09:38 PM PDT Vietnam Bank for Social Policies only sold VND220 billion worth of Government bonds, or 14.2 % of VND1.55 trillion offered value in an auction of 3-year and 5-year bonds held on July 7 , said Hanoi Stock Exchange on its website. Vietnam Bank for Social Policies only sold VND220 billion worth of Government bonds, or [...]

BNP Baribas to raise stake to 20% in Vietnam bank OCB Posted: 03 Jul 2011 09:37 PM PDT Vietnam’s partly private lender OCB said on Monday it has secured central bank permission to sell another 5% of stake to BNP Paribas , raising the French lender’s interest to the 20-percent ceiling of foreign ownership. The sale would help enable Ho Chi Minh City-based unlisted OCB to increase its registered capital by nearly 25% [...]

Samsung gets a break Posted: 03 Jul 2011 08:11 PM PDT 'The long term investment of Samsung should be highly appreciated and granted flexible and reasonable support' Samsung Electronics Vietnam, a wholly-owned subsidiary of Korea's Samsung Electronics, will enjoy more tax incentives for its manufacturing complex in northern Bac Ninh province. An amended investment certificate, following in-principle approval from Prime Minister Nguyen Tan Dung, allows Samsung [...]

Foreign investors pull out of local property market Posted: 03 Jul 2011 08:10 PM PDT Foreign investment flows into Vietnamese real estate plummeted in the first half of this year, but consultants claim investment opportunities "are excellent" for the next 12 months. A Vietnam Centre of Foreign Investment Studies report showed that total registered foreign direct investment (FDI) in Vietnam's property sector in the first half of 2011 was just [...]

Wind in shipping firms’ sails Posted: 03 Jul 2011 08:09 PM PDT Scores of foreign investors are on a prosperous voyage of discovery in Vietnam's developing freight transport and shipping industry. According to the London-based Business Monitor International's (BMI) Vietnam Freight Transport Report for 2011's third quarter, Japanese interest in Vietnam's ports and shipping industry was surging. "The Japanese government, investors, contractors, and shipping lines are all [...]

Minimum salaries’ hike earlier than schedule Posted: 03 Jul 2011 08:07 PM PDT Amid skyrocketing inflation, the Ministry of Labour, War Invalids and Social Affairs has proposed the government to raise minimum salaries in October, one quarter earlier than its initial schedule. Pham Minh Huan, Vice Minister of Labour, War Invalids and Social Affairs, announced at a governmental press conference held in Hanoi yesterday that the minimum salary [...]

Gold exports slow Posted: 03 Jul 2011 08:03 PM PDT More than 12 tonnes of gold were exported from Viet Nam in June for a turnover of $630 million, or 8 per cent of the country’s total export over the same period. June’s gold exports was higher than total export value of the precious metal for the first five months of the year. The market [...]

BMW shifts into high gear Posted: 03 Jul 2011 08:02 PM PDT Viet Nam is one of the fastest growing markets in Southeast Asia for BMW cars, according to a senior official. The managing director of BMW Asia, Neil Florentinos, said at the launch of a luxury model in HCM City in early June that in the first five months this year, BMW saw an overall growth [...]

Investors keen on more golf courses Posted: 03 Jul 2011 08:02 PM PDT Two years after the national master plan for golf course development was approved by Prime Minister Nguyen Tan Dung, many localities have asked the Government to include new projects in it. According to the Ministry of Planning and Investment (MPI), under the master plan, 90 golf courses would be built in the country by 2020. [...]

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