Vietnam Business News

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• VNPT short-listed for international broadband award
• More Vietnamese opt for long-haul travel destinations this summer
• Ink settles on EPC contract
• Cautious optimism in vietnam
• July 15: Vietnam stocks fall on lack of liquidity
• Fund raising via stock markets proves difficult
• Over half of securities brokerages and fund managers report losses
• 9,200-tonne container ship handed over to German partner
• Steelmakers scale back production as consumption falls
• Door to petroleum companies not open to foreign investors

VNPT short-listed for international broadband award Posted: 15 Jul 2011 04:30 AM PDT Leading domestic information telecommunications service provider Vietnam Posts & Communications Group (VNPT) has been short-listed for the international Broadband Infovision Awards 2011 with its "VNPT Broadband Gardens" nomination. VNPT is among three candidates selected to compete in the "Changing Lives" prize, one of 10 at the Broadband Infovision Awards 2011. The organising board has announced [...]

More Vietnamese opt for long-haul travel destinations this summer Posted: 15 Jul 2011 04:29 AM PDT More Vietnamese are opting for outbound tours to long-haul destinations like the US and Europe this summer, travel agencies have reported. Ho Chi Minh City tour operators said outbound tourist numbers to the US and Europe have risen by 30-50 per cent this summer. However, the growth rate for tours to ASEAN member countries remains [...]

Ink settles on EPC contract Posted: 15 Jul 2011 04:29 AM PDT An EPC contract for the GPP2 gas processing plant in Nam Con Son 2 gas pipeline project between the PVGas and the consortium of PetroVietnam Construction Joint Stock Corporation (PVC) and PVC-MS will be inked on July 16. The total package value is over $441 million, including GPP2 gas processing plant, distributed stations and piping [...]

Cautious optimism in vietnam Posted: 15 Jul 2011 04:23 AM PDT Vietnam’s real-estate market is likely to flourish again, as economic headlines out of that country in the first and second quarters indicate that improvement is being driven, according to research by global real-estate services firm CB Richard Ellis Positives do remain, the company said, with national GDP growing by 5.67% year on year in the [...]

July 15: Vietnam stocks fall on lack of liquidity Posted: 15 Jul 2011 04:22 AM PDT Vietnam's stocks closed down today as sellers were more decisive to cash out on lack of liquidity, weak sentiment. The benchmark VN Index lost 4.19 points or 1% to 414.74. Volume continued to fall 19.37% to 19.34 million shares worth VND377.69 billion, including 2.65 million shares worth VND99.94 billion changed hands in the put-through deals. [...]

Fund raising via stock markets proves difficult Posted: 15 Jul 2011 04:22 AM PDT The amount of capital that companies raised via the stock market in the year's first half was trivial and barely increased from the year-earlier period due to the gloomy economic outlook. Only eight companies sought to auction shares on the southern exchange in the January-June period, offering 145.9 million shares but selling only 32 million [...]

Over half of securities brokerages and fund managers report losses Posted: 15 Jul 2011 04:21 AM PDT Up to 61 out of total 105 securities companies reported accumulated losses to the end of second quarter of 2011, similarly 27 of 47 fund management companies also posted poor performance in the period Up to 61 out of total 105 securities companies reported accumulated losses to the end of second quarter of 2011, similarly [...]

9,200-tonne container ship handed over to German partner Posted: 15 Jul 2011 04:19 AM PDT Ben Kien Ship Yard Company in Hai Phong on July 15 organised a ceremony to hand over a 9,200-tonne container ship named HC MELINA to Germany's Hanse Capital Group. The ship, which measures 129.4m in length and 17m in width, can run at 14.7 nautical miles per hour. Its equipment meets the latest international maritime [...]

Steelmakers scale back production as consumption falls Posted: 15 Jul 2011 04:19 AM PDT The domestic steel industry is cutting back on production in a big way as it faces unsold stockpiles and struggles to increase exports because it is not competitive enough. Its problems are compounded by increasing imports of cheaper steel products, local reports say. The construction season is nearing its peak, but instead of increasing capacity, [...]

Door to petroleum companies not open to foreign investors Posted: 15 Jul 2011 04:17 AM PDT Vietnam does not intend to sell stakes in petroleum distribution companies to foreign investors, affirming that this does not come contrary to its WTO commitments. The information that some petroleum companies are going equitized has caught the special attention from the public and foreign investors, who always see petroleum distribution as an attractive business field [...]

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