Vietnam Business News

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• Gold contracts VND200,000 per tael
• More China trade to benefit small business
• Corporate bond risks spark investor concerns
• 3G faces bright future in VN
• Viet Nam seeks more investment from Japanese businesses in PPP
• ‘Buy local’ campaign makes inroads
• New models create niche market
• Foreign firms favour distribution over industry
• Cement producers face hard times
• Central Highlands rubber bounces

Gold contracts VND200,000 per tael Posted: 23 Jul 2011 12:59 AM PDT The price of gold in Vietnam retreated to VND39.3 million a tael (1.2 ounces) on July 22 as progress on raising the US debt ceiling was causing losing pressure on the precious metal. Saigon Jewelry Company bought the metal at VND39.28 million and sold at VND39.34 million as of 10 am local time, a decrease [...]

More China trade to benefit small business Posted: 22 Jul 2011 11:28 PM PDT Vietnamese small- and medium-sized enterprises (SMEs) will soon have the opportunity to take part in cross-border trade activities, according to experts. “With ASEAN members set to form an Economic Community by 2015 and a free trade agreement singed with China, Viet Nam is set to become a centre point for the transport of cargo,” said [...]

Corporate bond risks spark investor concerns Posted: 22 Jul 2011 11:28 PM PDT Many listed companies are opting to issue bonds to raise capital in light of the prolonged downturn of the stock market. However, the risks are now raising greater concerns among investors. Earlier last month, Tan Hoa (Viky) Plastics Co (VKP) approved a VND40 billion (US$1.9 million) convertible bond issue, even though the company has suffered [...]

3G faces bright future in VN Posted: 22 Jul 2011 11:28 PM PDT As many as 8 million third generation (3G) subscribers have been registered since the initial Vietnamese application of the new technology 18 months ago, according to the head of the telecom department at the Ministry of Information and Communications, Nguyen Phong Nha. Nha added that, during this time, 3G technology had been rolled out into [...]

Viet Nam seeks more investment from Japanese businesses in PPP Posted: 22 Jul 2011 11:27 PM PDT Viet Nam wants Japanese businesses to increase their investment in the country through public-private partnerships (PPP). Deputy Minister of Planning and Investment Dang Huy Dong expressed this wish while speaking at the Viet Nam-Japan Investment Forum held in Tokyo yesterday. Dong said that from now to 2020, Viet Nam would need a major source of [...]

‘Buy local’ campaign makes inroads Posted: 22 Jul 2011 11:27 PM PDT The Government’s “Vietnamese Use Vietnamese Goods” campaign has improved awareness and impacted perceptions of Vietnamese consumers, a study has found. Global market research company Nielsen conducted the study in HCM City and Ha Noi in March, polling 150 respondents across all income levels in either place. The Vietnamese Goods Trend Survey found that 83 per [...]

New models create niche market Posted: 22 Jul 2011 11:26 PM PDT The mounting pressure to restructure business models and improve management offers a big opportunity for the enterprise resource planning market in Viet Nam, industry insiders say. Enterprise resource planning, or ERP, integrates internal and external management information across an entire organisation, embracing finance and accounting, manufacturing, sales and service, and customer relationship management. ERP systems [...]

Foreign firms favour distribution over industry Posted: 22 Jul 2011 11:25 PM PDT Many foreign direct-invested (FDI) businesses have shifted from manufacturing to sales and distribution of products in the Viet Nam market, according to a news report. Dao Ngoc Hoang Giang, CEO of Sao Mai office equipment joint-stock company under the SaoMai Group, said that many FDI businesses planned to shift to increasing the number of imports [...]

Cement producers face hard times Posted: 22 Jul 2011 11:17 PM PDT Domestic cement consumption this year is expected to be as low as 52.5 million tonnes due to a reduction in the number of local building projects, the Vietnam Cement Association has said. Aggravating the situation was an oversupply throughout the industry, while local and export demand was sluggish, the association said. By mid-July, the cement [...]

Central Highlands rubber bounces Posted: 22 Jul 2011 11:16 PM PDT Provinces in the Central Highlands have planted rubber trees on more than 64,000ha in the last two years, taking the region’s total area under rubber to 174,720ha, the Tay Nguyen Steering Committee said. Kon Tum, Gia Lai and Dak Lak provinces have the largest areas under rubber. The trees have mostly been planted on infertile [...]

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