Vietnam Business News

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• Gold prices continue to rocket at weekend
• Vietcombank, insurer sign deal
• Mobile phone subscriber growth starts to slow down
• Global information symposium kicks off in Da Nang
• Asia-America cable breaks again, internet destabilised
• Software industry challenged by rising human resource costs
• MICE tourism lacks confident approach
• Mobile numbers might soon include 11th digit
• Rice exports climb to record heights
• Engine factory contract inked by VN, S Korea

Gold prices continue to rocket at weekend Posted: 06 Aug 2011 08:28 AM PDT The Domestic gold price hit a new record on the morning of August 6, standing at 41.9 million VND per tael (one tael is equal to 1.2 ounces), an increase of 370,000 VND per tael from August 5's trading session. This was the sixth consecutive day in the week of gold price hike. The week [...]

Vietcombank, insurer sign deal Posted: 06 Aug 2011 01:52 AM PDT Vietcombank and Liberty Insurance Ltd have officially launched an online premium collection service allowing Liberty’s customers to pay their insurance premium online once they register for Vietcombank’s internet banking service. The Ha Noi-based bank has so far offered online services to help its customers pay securities and telecom fees.

Mobile phone subscriber growth starts to slow down Posted: 06 Aug 2011 01:51 AM PDT The General Statistics Office reported that the number of new phone subscribers reached 5.7 million in the first seven months throughout the country, a decrease of 30.9 per cent over the same period last year. There were 36,400 fixed telephone subscribers and nearly 5.7 million mobile phone subscribers. By late July, the number of phone [...]

Global information symposium kicks off in Da Nang Posted: 06 Aug 2011 01:51 AM PDT The Global Information Infrastructure Symposium 2011 (GIIS 2011) opened in the central city of Da Nang on Thursday. During the three-day event, jointly held by the Institute of Electrical and Electronics Engineers Communication Society, the Paris University 13 and the Da Nang University of Technology, 30 domestic and foreign delegates are expected to exchange views [...]

Asia-America cable breaks again, internet destabilised Posted: 06 Aug 2011 01:50 AM PDT Viet Nam’s international internet connection would be unstable for a week due to another break in the Asia-America Gateway cable, a local technology news website has said. A statement from AAG, an international undersea cable system linked to the southern beach town of Vung Tau, said it would take until at least today for repairs [...]

Software industry challenged by rising human resource costs Posted: 06 Aug 2011 01:49 AM PDT Rising costs for human resources have weakened Viet Nam’s chief competitive advantage in the software industry. In the past, cheap labour was seen as the country’s chief competitive advantage in making international-standard software, but that advantage is declining. The pool of employees for the software industry is still rather small, and language skills, particularly in [...]

MICE tourism lacks confident approach Posted: 06 Aug 2011 01:49 AM PDT A lack of confidence is one of the factors preventing MICE (Meetings, Incentives, Conventions and Exhibitions) tourism from fully exploiting its development potential in Viet Nam, foreign and local experts agree. Though this form of tourism has seen rapid growth in recent years, it has not matched that of regional countries, although it has all [...]

Mobile numbers might soon include 11th digit Posted: 06 Aug 2011 01:48 AM PDT The Ministry of Information and Communications (MIC) is collecting users’ opinions on how to efficiently utilise the current mobile phone number repository. Director of the Department of Telecommunications Pham Hong Hai announced at a briefing this week that the ministry was looking into two possibilities to increase available permutations. The first choice was to add [...]

Rice exports climb to record heights Posted: 06 Aug 2011 01:48 AM PDT Viet Nam’s rice exports in the first seven months rose to a record high of nearly 4.62 million tonnes and fetched US$2.18 billion, the Viet Nam Food Association reported. It represented an increase of 16.72 per cent in volume and 26.07 per cent in value, Huynh Minh Hue, VFA’s general secretary told a meeting in [...]

Engine factory contract inked by VN, S Korea Posted: 06 Aug 2011 01:47 AM PDT Viet Nam’s Truong Hai Auto Joint Stock Company (Thaco) and the South Korean Hyundai Motor Corp on Thursday signed an agreement to build an automobile engine manufacturing factory in central Quang Nam Province’s Chu Lai Open Economic Zone. Capitalised at US$165 million, the 20ha factory will be programmed to produce 25,000 units per year in [...]

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