Vietnam Business News

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• Vietnam exports 7 tons of gold jewelry last week: gold traders
• Rieker footwear factory built in Quang Ngai
• Gold prices in Vietnam touch a new record high again
• Exporters set sights on Philippines
• Prime Minister Dung urges further fossil fuel exploration
• HCM City prioritises funding to boost sustainable development
• Shrimp farmers hope for clean start
• Central Highlands invests in irrigation
• Bilateral trade with US increases by 21%
• ATM cards rarely leave wallets

Vietnam exports 7 tons of gold jewelry last week: gold traders Posted: 17 Jul 2011 11:32 PM PDT Vietnam exported about 5-7 tons of gold in form of jewelry for $300 million last week, the online newspaper Lao Dong reported, citing Ho Chi Minh City based gold-trading companies. The exporting turnover may rise further this week as long as the gap between global and domestic gold prices still range between VND400,000 and VND500,000/tael, [...]

Rieker footwear factory built in Quang Ngai Posted: 17 Jul 2011 11:31 PM PDT The managing board of Quang Ngai Industrial Zones on July 18 granted an investment license for the Rieker Vietnam Footwear Factory. This is the biggest foreign invested project worth US$14 million in Quang Ngai so far. The project will cover an area of 10ha in Tinh Phong IZ in Son Tinh district in August and [...]

Gold prices in Vietnam touch a new record high again Posted: 17 Jul 2011 11:30 PM PDT Gold prices on the domestic market have increased by nearly VND200,000 per tael to hit a new record high of VND39.24 million. On the morning of July 18, SJC gold was listed at VND39.16 million – VND39.24 million per tael in Hanoi while Bao Tin Minh Chau gold was traded at VND39.09 million- VND39.19 million [...]

Exporters set sights on Philippines Posted: 17 Jul 2011 08:35 PM PDT Vietnamese firms are eagerly eyeing the Philippines, hoping to penetrate this lucrative market of 96 million people. With its proximity to Viet Nam, the Philippines offers Vietnamese exporters plenty of opportunities but only recently have they begun to explore it. Cau Tre Export Goods Processing Joint Stock Company is one company that typifies the trend. [...]

Prime Minister Dung urges further fossil fuel exploration Posted: 17 Jul 2011 08:35 PM PDT Prime Minister Nguyen Tan Dung has proposed that PetroVietnam and Vietsovpetro expand their exploration to increase oil and gas reserves, to ensure energy security, promote exports and increase State budget income. PM Dung made the proposal at the celebration of the 30 th anniversary of the agreement signing between Viet Nam and the former Soviet [...]

HCM City prioritises funding to boost sustainable development Posted: 17 Jul 2011 08:34 PM PDT HCM City authorities have decided to not give priority to funding projects that do not result in sustainable development, Nguyen Thanh Tai, deputy chairman of the People’s Committee of HCM City, said. This decision would ensure that necessary infrastructure is available for economic development and investment attraction as the government tightens public investment. The city [...]

Shrimp farmers hope for clean start Posted: 17 Jul 2011 08:34 PM PDT Shrimp farmers in the coastal provinces of the Cuu Long (Mekong) Delta, who have been suffering unprecedented losses of shrimp, began cultivation after two months of little activity. Farmers in the coastal province of Bac Lieu, the second hardest-hit locality after Soc Trang Province, decided to resume production in some areas after their ponds were [...]

Central Highlands invests in irrigation Posted: 17 Jul 2011 08:33 PM PDT Authorities in the Central Highlands province of Dak Nong have decided to invest VND3 trillion (US$143 million) on irrigation works in the province’s ethnic region over the next 10 years. The investment will come from the provincial budget and from a Government bond. Around 100 new systems will be undertaken as part of the project, [...]

Bilateral trade with US increases by 21% Posted: 17 Jul 2011 08:33 PM PDT Trade turnover between the US and Viet Nam in the first five months of this year reached nearly US$8.3 billion, a year-on-year increase of 21 per cent, according to the July report from the US Census Bureau. Viet Nam’s total exports to the US increased by 21.7 per cent over the same period last year [...]

ATM cards rarely leave wallets Posted: 17 Jul 2011 08:32 PM PDT Half of the more than 32 million ATM cards issued by banks in the country are not used, according to the Viet Nam Bank Cards Association (VBCA). An official from the State Bank of Viet Nam’s HCM City office said on the condition of anonymity that the number of cards issued could be even higher [...]

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