Vietnam Business News

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• Vietnam’s e-trade expected to hit US$6 bln by 2015
• Imported goods’ prices drop as dollar depreciates
• Vietnam exports to face more trade barriers
• Hanoi metro line slated to be operational from 2016
• Beer consumption up over 8 percent in first seven months
• Vietnam gold prices to hit an all time high of VND44.2 million per tael
• Gold nears VND42 mln
• Vietnam bonds decline for third week on inflation concerns
• Vietnam to build e-commerce trade portal
• Vietnam coffee premium said to drop as much as 18% in two weeks

Vietnam’s e-trade expected to hit US$6 bln by 2015 Posted: 08 Aug 2011 12:16 AM PDT The total value of goods traded online in Vietnam is estimated to reach US$6 billion by 2015, of which US$2 billion would be paid online, forecast economic experts from the Vietnam Chamber of Commerce and Industry (VCCI) on Wednesday. Vietnam has nearly 30 million internet users, of whom 58 percent have accessed internet to search [...]

Imported goods’ prices drop as dollar depreciates Posted: 08 Aug 2011 12:16 AM PDT As the greenback has lost as much as 8 percent of its value against the Vietnam dong since early this year, many imported goods have become cheaper. At an electronic store on Ho Chi Minh City's District 1, for instance, prices of certain imported products such as headphones, mobile phones and other electronic components have [...]

Vietnam exports to face more trade barriers Posted: 08 Aug 2011 12:15 AM PDT Local exporters will have to cope with more non-tax trade barriers while other countries try to limit imports and protect production as the global economic recession continues. Deputy Minister of Industry and Trade Le Danh Vinh said trade remedies would be diverse and nuanced as importers impose more barriers relating to quality standards, export subsidies, [...]

Hanoi metro line slated to be operational from 2016 Posted: 08 Aug 2011 12:15 AM PDT As scheduled, Hanoi will start work on urban pilot metro line No 3 from Nhon to Hanoi rail Station in this November and then kick off construction on the flyover section from late February 2012. Hanoians expect to travel by metro from 2016 when the No 3 metro line is completed. A pilot metro rail [...]

Beer consumption up over 8 percent in first seven months Posted: 08 Aug 2011 12:14 AM PDT Around 1.5 billion litres of beer was consumed in the first seven months of 2011, up 8.7% against one year earlier, the Tuoi Tre Online reported, citing data of the General Statistical Office (GSO). In July alone, 279.1 million litres of beer was consumed, increasing 14% year-on-year. This is one of few industrial sectors that [...]

Vietnam gold prices to hit an all time high of VND44.2 million per tael Posted: 08 Aug 2011 12:06 AM PDT Domestic gold prices continued to reach a new record at 9:09 am on Monday morning, hitting an all time high of VND44.2 million per tael but the price gradually dropped to VND43.6 million during the following hour. At 10 am, the price decreased to VND42.8 million. Gold companies say the gold market is never as [...]

Gold nears VND42 mln Posted: 07 Aug 2011 10:44 PM PDT Domestic gold price Sunday surged some VND100,000 a tael day on day to VND41.98 million a tael, though its international counterpart remained unchanged since there was no trading at weekend. With the new hike, some VND330,000 within Saturday and Sunday, the price gap between domestic and international gold price was over VND500,000 a tael. A [...]

Vietnam bonds decline for third week on inflation concerns Posted: 07 Aug 2011 10:36 PM PDT Vietnam's benchmark five-year bonds declined for a third week on speculation inflation accelerated in August, which may prompt policy makers to raise interest rates. Vietnam's consumer price index is forecast to rise 1 percent in August from July, the magazine Dau Tu Chung Khoan reported today, citing the Ministry of Finance's domestic market management department. [...]

Vietnam to build e-commerce trade portal Posted: 07 Aug 2011 10:35 PM PDT The Ministry of Industry and Trade plans to construct an e-commerce website starting from 2012 based on import and export activities. Do Van Chien, director of the ministry’s Information Centre, said thatthe website will offer support services to commercial transactions among enterprises focused on textiles, seafood, agricultural products, wood,rubber, footwear, leather, steel, fertiliser, plastic and [...]

Vietnam coffee premium said to drop as much as 18% in two weeks Posted: 07 Aug 2011 10:35 PM PDT The premium buyers are prepared to pay for coffee in Vietnam fell as much as 18 percent in the past two weeks as roasters turned to beans stored in Europe, three traders said. Vietnamese coffee cost $140 to $150 a metric ton more than prices on NYSE Liffe in London, according to the people, who [...]

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