Vietnam Business News

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• Aug 10: Vietnam gold falls to vnd44.7 on gold import quota, dollar prices hit ceiling
• Vietnam: the curse of gold
• Vietnam investment firm to start nation’s largest energy fund
• Vietnam urged to march towards green steel industry
• Vietnam raises coal export tax
• Vietnam Dung Quat refinery to restart on schedule, not earlier executive
• Dong Van stone plateau popular with visitors
• Property sector shuffles the deck
• Zone’s manufacturing engine is revving
• Korea-Vietnam joint venture to build three big ships

Aug 10: Vietnam gold falls to vnd44.7 on gold import quota, dollar prices hit ceiling Posted: 09 Aug 2011 11:21 PM PDT Vietnam gold fell back to VND44.7 million a tael ($2,146) after central bank allowed to import 5 tons of gold to "stabilize" the local market and world gold closed off record high Tuesday in New York. Vietnam gold fell back to VND44.7 million a tael($2,146) after central bank allowed to import 5 tons of gold to [...]

Vietnam: the curse of gold Posted: 09 Aug 2011 09:21 PM PDT Vietnam, like some other frontier markets, seemed to be remarkably unaffected by the deepening economic problems in the US and Europe over recent weeks. But the latest waves from the global crisis have finally washed up on Vietnam's shores after the surge in world gold prices, driven by growing risk aversion, led to a record [...]

Vietnam investment firm to start nation’s largest energy fund Posted: 09 Aug 2011 09:21 PM PDT Saigon Asset Management Corp., which last month announced it's starting Vietnam's first distressed- assets fund, plans to raise $300 million for an energy fund that would be the country's largest. Saigon Asset Management is reviewing about a dozen thermal and hydropower projects in Vietnam that its energy fund might invest in, as well as developments [...]

Vietnam urged to march towards green steel industry Posted: 09 Aug 2011 09:21 PM PDT VietNamNet reported that Vietnamese steel manufacturers all say they are striving to have a green steel industry. However, this would mean higher production costs and lower competitiveness. According to Mr Pham Chi Cuong chairman of Vietnam Steel Association, Vietnam still has not set up standards for energy, material and water consumption for manufacturing steel. Therefore, [...]

Vietnam raises coal export tax Posted: 09 Aug 2011 09:20 PM PDT Export taxes on all kinds of coal would be increased from the current 15 per cent to 20 per cent as of September 11 to limit the outflow of the natural resource, according to a new circular issued by Vietnam’s Ministry of Finance. Under the circular, export tariffs on other natural resources such as brass, [...]

Vietnam Dung Quat refinery to restart on schedule, not earlier executive Posted: 09 Aug 2011 09:20 PM PDT Vietnam’sDung Quat Refinery won’t be restarted before Sept. 15, when planned maintenance is scheduled to end, despite efforts by the operator and maintenance contractor to accelerate the process, an executive with the operator of the plant said Tuesd The 130,000-barrel-a-day refinery is was shut July 15. State-run Vietnam Oil and Gas Group, or PetroVietnam, which [...]

Dong Van stone plateau popular with visitors Posted: 09 Aug 2011 09:17 PM PDT The Dong Van Stone Plateau in the northern mountainous province of Ha Giang attracted 30,000 tourists, including over 10,000 foreigners, helping raise the province's tourism revenue to VND41 billion in July. Covering a total area of nearly 2,400 sq.m., the Dong Van Stone Plateau housed 34 per cent of the province's population. The recognition of [...]

Property sector shuffles the deck Posted: 09 Aug 2011 09:17 PM PDT Vietnam's property market is witnessing soaring acquisitions. Vincom recently handed over a 10 per cent stake (VND30 billion or $1.45 million) in a Viettronics Property Company Limited's property project to Sinh Thai Investment and Development Joint Stock Company. The project involves building a housing, office and trade centre complex over 13,000 square metres in Hanoi's [...]

Zone’s manufacturing engine is revving Posted: 09 Aug 2011 09:17 PM PDT Central Quang Nam province's Chu Lai Open Economic Zone is emerging  as a leading spot for locar car supporting industry. In early August 2011 South Korea's Hyundai Group and Vietnam's Thaco inked a landmark cooperative deal for auto engine manufacturing. With $165 million in the first phase, the Chu Lai OEZ joint venture project with [...]

Korea-Vietnam joint venture to build three big ships Posted: 09 Aug 2011 09:16 PM PDT The Hyundai Vinashin Shipyard Co Ltd (HVS) recently held a keel-laying ceremony in central Khanh Hoa province for the construction of three large ships for its foreign partners. The cargo ship coded S059 was ordered by the Huyndai Merchant Marine Co., Ltd of the Republic of Korea for the first time. The 200m long and [...]

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