Tuesday, July 26, 2011

Vietnam Business News

Vietnam Business News

Vietnam to maintain tight policy to curb inflation pressure

Posted: 26 Jul 2011 12:54 AM PDT

Vietnam will maintain a tight monetary policy in August after inflation accelerated for an 11th month in July, Nguyen Xuan Phuc, chairman of the government office, said at a briefing in Hanoi today. Consumer prices jumped 22.16 percent from a year earlier, compared with June's 20.82 percent pace, data released by the General Statistics Office [...]


Vietcombank buys $1bln of foreign currency per month

Posted: 26 Jul 2011 12:53 AM PDT

The majority of foreign currency that Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) bought from customers would be sold to the State Bank of Vietnam (SBV). At the inaugurating ceremony of Vietcomgold trading centre, Nguyen Phuoc Thanh, Vietcombank’s general director said that Vietcombank bought foreign currency from institutions and individuals averagely at $1 [...]


Ministry readies tighter disclosure rules

Posted: 26 Jul 2011 12:53 AM PDT

A draft circular expected to be formally issued by the Ministry of Finance later this year would strengthen disclosure requirements applied to larger public companies, based upon charter capital and number of shareholders. Companies with charter capital of VND120 billion (US$5.8 million) and 300 or more shareholders would be required to release audited financial reports [...]


US dollar lending back in fashion

Posted: 26 Jul 2011 12:52 AM PDT

Dollar lending has sharply risen  in recent months in the face of high dong lending rates and a stable exchange rate. For example, Ut Xi Seafood Processing Joint Stock Company's deputy general director Nguyen Tuan Anh said the firm sourced dollar loans from state-owned Agribank with a 4 per cent, per year interest rate. "If [...]


Price escalations should not be blamed on Chinese businessmen

Posted: 26 Jul 2011 12:51 AM PDT

The consumer price index (CPI) sharp increases in the last few months have been blamed on Chinese businessmen who have flocked to Vietnam to collect farm produce. However, experts have pointed out that the main reason behind the problem is the mismanagement. The General Statistics Office (GSO) has announced that the CPI in July increased [...]


European firms more cautions about investment in Vietnam

Posted: 26 Jul 2011 12:51 AM PDT

European firms appear cautious when they are asked about their plans for investment in Vietnam this year although 52 percent of businesses like to increase their investment. The latest survey conducted by European Chamber of Commerce in Vietnam (Eurocham) released on July 25 said that most companies (32 percent) wanted to maintain their level of [...]


Vietnam boosts agriculture cooperation with Sierra Leone

Posted: 26 Jul 2011 12:50 AM PDT

Vietnam and Sierra Leone have agreed to boost cooperation in agricultural trading and research and exchange of experts in the field. The agreement was reached at talks in Hanoi on July 25 between Deputy Minister of Agriculture and Rural Development Nguyen Thi Xuan Thu and Sierra Leone Deputy Minister of Agriculture, Forest and Food Security [...]


Promoting economic cooperation between Vietnam and Laos

Posted: 26 Jul 2011 12:50 AM PDT

An international seminar on Vietnamese and Lao socio-economic developments in the next ten years (2011-2020) was held in Vientiane, Laos on July 25. The seminar organised by the Vietnam National Economics University (NEC), the Lao National Social Sciences Institute and National University aims to devise measures to boost economic cooperation between Laos and Vietnam. Participants [...]


Vietnam’s agro-forestry and seafood exports to hit US$13.9 bil

Posted: 26 Jul 2011 12:49 AM PDT

In July, Vietnam is expected to fetch US$2 billion from exporting agro-forestry and seafood products, bringing total export turnover in the first seven months to US$13.9 billion, up 33.4 percent against the same period last year, according to the Ministry of Agriculture and Rural Development (MARD). Vietnam's key farm exports including coffee, pepper and rubber [...]


Mekong Delta leaders want more city support

Posted: 25 Jul 2011 08:39 PM PDT

Leaders of 13 Cuu Long (Mekong) Delta provinces praised HCM City’s contribution to their development, urging further co-operation in sustainable development between the Delta and the city. During the past decade, HCM City implemented co-operation agreements signed with southwestern provinces, which brought encouraging socio-economic results, participants said at a meeting held in HCM City yesterday. [...]


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