Vietnam Business News

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• Acute shortage of shrimps for export
• Vietnam’s economic woes erode European investors’ confidence
• Hcmc invests vnd199 trillion in Mekong delta
• Curbing inflation at 17% seen impossible in 2011
• Corn prices rise after hot weather damages crops
• Footwear firms hindered by lack of materials
• Vietnam 2011 bad debt could rise to 5% of loans
• Vietnam Eximbank says h1 net profit up 79% y/y
• July 27: Vietnam gold tops vnd40mln/tael first time
• In anticipation of reasonable land rent

Acute shortage of shrimps for export Posted: 26 Jul 2011 11:26 PM PDT The seafood processing business is presently facing an acute shortage of shrimps and currently operating at only 40 percent capacity in the southernmost province of Ca Mau. Ly Van Thuan, general secretary of Seafood Processing and Export Association in the province stated yesterday that processing plants in and outside the province were scrambling to buy [...]

Vietnam’s economic woes erode European investors’ confidence Posted: 26 Jul 2011 11:25 PM PDT High inflation, trade deficit and administrative burdens continue to make inroads into European companies' confidence in Vietnam's business climate as reflected in the latest survey by the European Chamber of Commerce in Vietnam (EuroCham). The quarterly EuroCham Business Climate index survey released on Monday showed a decline in the business confidence of its members in [...]

Hcmc invests vnd199 trillion in Mekong delta Posted: 26 Jul 2011 11:25 PM PDT Entrepreneurs in HCMC have invested in 782 projects in 13 provinces in the Mekong Delta with total pledged capital of VND199 trillion since 2000, HCMC chairman Le Hoang Quan said on Monday. Chairman Quan told a review meeting held here on Monday that much of the invested capital had been poured into industrial zone development [...]

Curbing inflation at 17% seen impossible in 2011 Posted: 26 Jul 2011 11:24 PM PDT Vietnam will have to struggle to restrain inflation at 17% this year after consumer prices spiraled out of control in recent months, said Nguyen Tien Thoa, head of the Price Management Department at the Finance Ministry. According to the Ministry of Planning and Investment, Vietnam's consumer price index (CPI) in July had risen by 1.17% [...]

Corn prices rise after hot weather damages crops Posted: 26 Jul 2011 11:23 PM PDT Crop prices closed higher Tuesday after the government reported that the U.S. corn crop isn’t growing as well as previously thought because of hot weather. The U.S. Department of Agriculture released a report late Monday afternoon that showed 62 percent of the corn crop in 18 states that produce the vast majority of corn in [...]

Footwear firms hindered by lack of materials Posted: 26 Jul 2011 11:23 PM PDT Many footwear firms designing products for the local market are facing severe difficulties caused by a lack of materials, especially leather, in the industry. In a seminar last week in HCMC, 12 local companies showcased original shoe designs in a bid to encourage firms in the industry to create their own footwear products rather than [...]

Vietnam 2011 bad debt could rise to 5% of loans Posted: 26 Jul 2011 11:22 PM PDT Bad debt in Vietnam’s banking system could rise to 5% of total loans by the end of this year, a state-run newspaper quoted a central banker on Wednesday as saying, more than double the ratio last month. Bad debt in Vietnam’s banking system could rise to 5% of total loans by the end of this [...]

Vietnam Eximbank says h1 net profit up 79% y/y Posted: 26 Jul 2011 11:22 PM PDT Eximbank of Vietnam said on Tuesday its net profit in the first half rose 78.9% from a year earlier to 1.27 trillion dong ($61.8 million). Ho Chi Minh City-based Eximbank said in a financial statement that total assets as of the end of June rose nearly 9% from the end of 2010 to 142.72 trillion [...]

July 27: Vietnam gold tops vnd40mln/tael first time Posted: 26 Jul 2011 11:21 PM PDT Vietnam gold on Wednesday morning surged over VND250,000/tael to nearly VND40,1million/tael, marking a fresh all-time high, as global gold prices hit record for the sixth time in two weeks on U.S debt impasses. At 8.30 a.m., Sacombank in Ho Chi Minh City raised bid and ask for SBJ bullion to VND40.01million/tael and VND40.07million/tael, respectively, the [...]

In anticipation of reasonable land rent Posted: 26 Jul 2011 11:20 PM PDT It is expected to see whether Circular 94 will cope with unreasonable things over land rent and will lead enterprises to stop complaining and lamenting about the financial burden. The Ministry of Finance has issued Circular 94/2011/TT-BTC modifying its previous circular that offers guidelines for implementation of Government Decree 142/2005/ND-CP of November 14, 2005 on [...]

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