Vietnam Business News

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• Plans to build airports need rethink
• State-owned enterprises ‘need scrutiny’
• Inflation rises by 14.61%
• Chicken set to substitute pricy pork
• Hotel room numbers up 100% in City
• Putting wind in the sails of power producers
• Fertiliser giant to stabilise prices
• Supermarket brands draw fire
• Vinatex aims to boost local fibre content
• Construction firms report H1 losses

Plans to build airports need rethink Posted: 24 Jul 2011 10:41 PM PDT It was seaports once, dams and golf courses next, and now, it seems, airports. Provinces nationwide have in the past gone on a planning and construction binge with major infrastructure projects like ports and dams, not bothering to study the feasibility of having too many of these in the country. Now, many provincial leaders believe [...]

State-owned enterprises ‘need scrutiny’ Posted: 24 Jul 2011 10:40 PM PDT Experts have raised concerns over Government capital control at State-owned enterprises (SOEs), since only 12 per cent of the country’s SOEs were audited in the period from 2007-09. Dinh Trong Hanh, head of the State’s Auditing Regulations and Quality Control Department, said the modest number of audited businesses had not reflected the realities of tax [...]

Inflation rises by 14.61% Posted: 24 Jul 2011 10:40 PM PDT The consumer price index (CPI) increased 14.61 per cent during the first seven months of this year, according to figures released by the General Statistics Office on Saturday. Annual inflation hit 22.16 per cent in July, setting a pace well above the Government’s target of 17 per cent. Nguyen Duc Thang, head of the GSO’s [...]

Chicken set to substitute pricy pork Posted: 24 Jul 2011 10:39 PM PDT With pork prices skyrocketing, housewives are being encouraged to replace the meat with chicken to economise. The Animal Husbandry Department says prices of pork on the hoof have risen by 70-100 per cent within a year, and pigs currently cost VND64,000 per kilogramme in the South and VND65,000 to VND70,000 in the North. Nguyen Xuan [...]

Hotel room numbers up 100% in City Posted: 24 Jul 2011 10:39 PM PDT The number of three- to five-star hotels in HCM City has nearly doubled in the last three years to 73 with a total of 9,700 rooms, the city Department of Culture, Sports and Tourism has said. The three-star category saw the strongest growth, increasing in the period to 47 hotel from 21, according to the [...]

Putting wind in the sails of power producers Posted: 24 Jul 2011 10:38 PM PDT Wind energy is expected to play an important part in the Government’s plan to increase the share of renewable energy from 2.5 per cent in 2008 to 5 per cent in 2020. Work is going on on 42 wind energy projects in 12 central, Central Highlands, and southern provinces with participation by investors from Germany, [...]

Fertiliser giant to stabilise prices Posted: 24 Jul 2011 10:37 PM PDT Deputy Prime Minister Hoang Trung Hai called on PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) to stabilise fertiliser prices and maintain reserves as required by the Government last Wednesday. Reportedly, selling prices of urea fertiliser increased by VND1.6 million (US$77) per tonne. PVFC Co plans to save input costs and balance the quantity of fertiliser imported.

Supermarket brands draw fire Posted: 24 Jul 2011 10:37 PM PDT A new supermarket strategy based on producing goods under in-house labels, pose several challenges to domestic manufacturers in providing low priced, high quality products. As part of the new strategy, supermarkets aim to co-operate with local manufacturers in producing goods such as home appliances and food, attaching in-house labels for distribution via their own systems [...]

Vinatex aims to boost local fibre content Posted: 24 Jul 2011 10:37 PM PDT The Viet Nam National Textile and Garment Group (Vinatex) plans to invest US$2.1 billion over the next 10 years to set up facilities to make polyester yarn and other raw materials and increase local content in its products. The country’s biggest garment firm – it employs more than 2 million – will set them up [...]

Construction firms report H1 losses Posted: 24 Jul 2011 10:36 PM PDT Local construction corporations are concerned about whether they will be able to overcome the current difficulties in the second half of the year Many have reported revenue losses in the past six months, partly due to the global economic downturn. In a Ministry of Construction online briefing session, general director of Song Da Construction Corporation [...]

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