Vietnam Business News

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• Ireland tells Vietnam how to spot the warning signs
• Aug 19: Vietnam gold jumps $50/tael to all time high, dollar bid up vnd30
• Aug 19: Vietnam dollar prices stable, banks raise dollar bid by vnd30
• Vietnam real credit growth reaches only 5% in jan-july
• Vietnam banks resume raising gold deposit
• More buses planned to meet holiday demand
• Regional architects urged to improve their co-operation
• Ministry to probe delays in tourism, resort projects
• Airline to launch new routes, discount fares for seniors
• Revision of land law management urged

Ireland tells Vietnam how to spot the warning signs Posted: 19 Aug 2011 12:00 AM PDT After suffering one of the most destructive housing market bubbles in recent world history, you might not imagine that Ireland would be the first port of call for those seeking advice on how to develop their property sector. But, at a seminar funded by the Irish government's aid organisation in Hanoi on Thursday, Irish officials [...]

Aug 19: Vietnam gold jumps $50/tael to all time high, dollar bid up vnd30 Posted: 18 Aug 2011 11:58 PM PDT Vietnam gold opened up sharply by $50/Tael this morning following suit of global market surge last night, banks raised dollar bids as a result. As of 10:30 Hanoi time, Sacombank-SBJ gold was listed at VND46.46 million/tael and VND46.74 million/tael for bid and ask, respectively, rising over VND1 million ($50) a tael. SJC in Hanoi was [...]

Aug 19: Vietnam dollar prices stable, banks raise dollar bid by vnd30 Posted: 18 Aug 2011 11:57 PM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,618 on Friday, unchanged for 9 straight days. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, hence, the ceiling price for a dollar today was VND20,824. Commercial banks raised dollar bid for a [...]

Vietnam real credit growth reaches only 5% in jan-july Posted: 18 Aug 2011 11:56 PM PDT Vietnam credit growth in the first seven months of the year reached only 5%, local state-run newspaper Lao Dong (labor) quoted Nguyen Duc Kien, a founder of ACB as saying. Kien said the report of 7.5% credit growth rate in Jan-July was calculated on exchange rate adjustment. Of note, the broadest measure of money supply, [...]

Vietnam banks resume raising gold deposit Posted: 18 Aug 2011 11:56 PM PDT Some local commercial banks have resumed raising gold deposit with low interest rate levels amid current gold heat, local online newspaper Phap Luat Thanh Pho Ho Chi Minh (HCMC Law) reported. Orient Commercial JS Bank (OCB) raised gold certificate at 1%p.a. interest rate and gold depositor could not withdraw gold before the maturity. Other banks [...]

More buses planned to meet holiday demand Posted: 18 Aug 2011 11:52 PM PDT Bus companies in Ha Noi and HCM City are ready to roll out more vehicles to meet additional demand for the Independence Day holiday from September 1 to September 4. Independence Day this year will be a three-day holiday because it falls on Friday. Bus firms are therefore expecting more passengers than usual for this [...]

Regional architects urged to improve their co-operation Posted: 18 Aug 2011 11:51 PM PDT Deputy Prime Minister Hoang Trung Hai yesterday urged architect associations around Asia to foster co-operation around the challenges facing regional urban development in Asian nations. He made the suggestion at the Architects Regional Council Asia’s 16th forum, which opened in the central city of Da Nang yesterday, with the attendance of about 700 architects from [...]

Ministry to probe delays in tourism, resort projects Posted: 18 Aug 2011 11:51 PM PDT A comprehensive inspection of State management and the implementation of tourism and resort projects began on Wednesday in Khanh Hoa Province, according to the Ministry of Planning and Investment (MPI). The eight members of an MPI work team are scheduled to work in the province for 45 days. The MPI inspectors will work with the [...]

Airline to launch new routes, discount fares for seniors Posted: 18 Aug 2011 11:50 PM PDT The privately-owned Air Mekong will open two new routes: Ha Noi to Con Dao on September 6 and Vinh-Buon Me Thuot-HCM City on October 1. The new routes offer a total of seven flights a week, bringing the airline’s domestic routes to 13. The carrier is also providing passengers from 60 years old with a [...]

Revision of land law management urged Posted: 18 Aug 2011 11:50 PM PDT The laws that regulate land administration are hindering investment in construction projects, particularly in real estate, legal experts have said. Overlapping and inappropriate regulations regarding investment and construction, coupled with poor management, largely contributed to the ineffectiveness of real-estate investments, Nguyen Viet Hoang of Ha Noi-based Cazpro Law Firm told participants at a workshop held [...]

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