Vietnam Business News

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• Aug 25: Vietnam gold free falls to vnd45.3mln/tael, dollar stable
• Aug 25: Vietnam dollar prices stable on both official and black markets
• Vietnam state-owned banks must seek sbv’ approval to issue international bonds over 1 year
• Vietnam commercial banks resume consumption lending
• Policy dialogue spotlights green growth
• First Vietnam-made oil rig to be launched September
• Vietnam seeks to expand exports to Russia
• Vietnam’s CPI rises begin to ease
• When localities compete to attract FDI
• How many oil refinery projects will survive?

Aug 25: Vietnam gold free falls to vnd45.3mln/tael, dollar stable Posted: 24 Aug 2011 09:32 PM PDT Vietnam gold today fell freely at the open to VND45.5 million/tael following global biggest single day fall in 31 years of over $100/ounce. However, domestic gold is still trading at a premium to world gold prices while dollar is stable. As of 8:30 Hanoi time, Sacombank-SBJ gold was listed at VND45.21 million/tael and VND45.49 million/tael [...]

Aug 25: Vietnam dollar prices stable on both official and black markets Posted: 24 Aug 2011 09:32 PM PDT Vietnam’s central bank kept the dong-dollar exchange rate unchanged at 20,628 a dollar on August 25, while banks held their dollar price quote. 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 VND20,834. Commercial banks [...]

Vietnam state-owned banks must seek sbv’ approval to issue international bonds over 1 year Posted: 24 Aug 2011 09:31 PM PDT State-owned banks wishing to issue medium and long-term bonds on international markets in the future have to seek approval by the central bank. The State bank of Vietnam, the country's central bank, has issued circular No 18/2011/TT-NHNN regulating that state-owned banks can only issue medium and long-term bonds on international markets (over 1 year long) [...]

Vietnam commercial banks resume consumption lending Posted: 24 Aug 2011 09:30 PM PDT Some of Vietnam commercial banks have started to lend to consumers again after closing this window for a while, local online newspaper Tuoi Tre (youth) reported August 25. An Binh Bank cooperated with Saigon Ford Ltd. to lend to car buyers from Sept.1 to Nov.30 this year, with a lending interest rate of 23% p.a., [...]

Policy dialogue spotlights green growth Posted: 24 Aug 2011 09:13 PM PDT "Green growth – Opportunities, challenges and options for Vietnam " were the main topic of a policy dialogue, which was held in Hanoi on August 24. The dialogue provided an overview of green growth and global development trends; global green cooperation trends and opportunities for Vietnam ; Germany 's experience in building and implementing green [...]

First Vietnam-made oil rig to be launched September Posted: 24 Aug 2011 09:13 PM PDT The Vietnam National Oil and Gas Group (PetroVietnam) says it will inaugurate the first locally manufactured jack-up rig on September 9 in Ba Ria-Vung Tau Province, where the mobile platform was built. A jack-up rig is a type of mobile platform that is able to stand still on the sea floor, resting on a number [...]

Vietnam seeks to expand exports to Russia Posted: 24 Aug 2011 09:12 PM PDT The Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI) held a seminar on August 24 to discuss ways to promote Vietnamese exports to Russia . Vo Tan Thanh, Director of the VCCI-HCMC branch, said measures have been implemented to support more Vietnamese businesses to approach the Russian market, with [...]

Vietnam’s CPI rises begin to ease Posted: 24 Aug 2011 09:12 PM PDT Vietnam's consumer price index (CPI) in August rose by 0.93 per cent against last month, the lowest monthly increase since the beginning of this year. But the index soared 23.02 per cent over the same period of 2010, pushing CPI in the past eight months on average up by 17.64 per cent compared to the [...]

When localities compete to attract FDI Posted: 24 Aug 2011 09:11 PM PDT Commenting about the competition of local authorities to attract foreign direct investment (FDI), Tran Dinh Thien, Head of the Vietnam Economics Institute, noted that investors expect the improvements in the institutional environment more than the investment incentives. What do you think about the current stiff competition among localities to attract FDI? It is true that [...]

How many oil refinery projects will survive? Posted: 24 Aug 2011 09:10 PM PDT Vietnam is believed to be a good place for setting up oil refineries, as the country still has to import petroleum products to meet the increasingly high demand. However, investors have been advised to think carefully before making investment decisions in Vietnam. The Khang Thong Group has reportedly signed with STFE group and Thai PTTES–a [...]

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