Vietnam Business News

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• Local gold price lost one million dong/tael from last weekend
• Local firms urged to spur transparency
• Markets hold steady despite risks
• Foreign brand owners raise lawsuits against Vietnamese imitators
• Three Japan firms to build industrial park in Vietnam
• Tinnghiabank allowed to hike chartered capital
• New safety net laid out for financial system
• Rate drop slowly comes into view
• State bank chief has full plate
• Vietnam to weigh rate cuts if Asia’s fastest inflation slows

Local gold price lost one million dong/tael from last weekend Posted: 29 Aug 2011 10:24 PM PDT In the first two days of this week, the local gold price lost one million dong/tael from last weekend. The gold price in the world market also slipped over $30 per ounce thanks to the US economy showing signs of recovery. At 8:30 am local time today Tuesday August 30, the domestic gold price decreased [...]

Local firms urged to spur transparency Posted: 29 Aug 2011 09:04 AM PDT Lawyers at the Singapore-headquartered law firm Rajah & Tann LLP have suggested Vietnamese companies improve trust and transparency in accounting and business practices Lawyers at the Singapore-headquartered law firm Rajah & Tann LLP have suggested Vietnamese companies improve trust and transparency in accounting and business practices so as to attract foreign investors through either joint [...]

Markets hold steady despite risks Posted: 29 Aug 2011 09:03 AM PDT Investors will face substantial risks on the nation’s stock market this week despite two consecutive weeks of gains on both stock exchanges, with speculation and lingering doubts about the global financial system adding to the instability. Speculative trading was heavy last week, reflected in rising trading values and sharp gains among speculative shares and fund [...]

Foreign brand owners raise lawsuits against Vietnamese imitators Posted: 29 Aug 2011 09:01 AM PDT Adidas and Gucci, Honda and Microsoft, Louis Vuitton and Kimberly Clark Worldwide have one after another, sued the Vietnamese producers who counterfeited their products, imitated their trademarks and the industrial design protected by Vietnamese laws. The story of "Koteir" and "Kotex" Lawyer Le Xuan Loc from the Pham & Associates law office, said that imitators [...]

Three Japan firms to build industrial park in Vietnam Posted: 29 Aug 2011 08:52 AM PDT Three Japanese firms, namely Sojitz Corp., Daiwa House Industry Co. and Kobe Steel Ltd., will jointly build a large industrial park in southern Vietnam , local media reported. The 270-hectare industrial park will be built in the suburbs of Ho Chi Minh City, featuring a data centre, cloud computing services and cutting-edge sewage treatment facilities, [...]

Tinnghiabank allowed to hike chartered capital Posted: 29 Aug 2011 08:51 AM PDT The State Bank of Vietnam (SBV) has recently given a green light to Vietnam Tin Nghia Commercial Joint Stock Bank (TinNghiaBank) to raise its chartered capital to 4.588 trillion dong from the current 3.399 trillion dong. The central bank said that TinNghiaBank had to finalise all necessary procedures to increase its chartered capital within 12 [...]

New safety net laid out for financial system Posted: 29 Aug 2011 08:51 AM PDT In September's monthly meeting, the government will take a good hard look at the new draft law on deposit insurance. In September's monthly meeting, the government will take a good hard look at the new draft law on deposit insurance. Then the draft will go up for review at the 13th National Assembly's second session [...]

Rate drop slowly comes into view Posted: 29 Aug 2011 08:50 AM PDT The State Bank is trying to force local lenders to respect the deposit rate cap in the first move en route to lowering the market rate target. Last Friday, August 26, the State Bank chewed the fat with 12 large-scale banks over feasible measures to pull the lending rate to 17-19 per cent, per year. [...]

State bank chief has full plate Posted: 29 Aug 2011 08:50 AM PDT Reducing Vietnam's lending interest rate, stabilising the VND/USD exchange rate and consolidating the bulky system of credit institutions are all high on newly-elected State Bank Governor Nguyen Van Binh's agenda. Reporter Nguyen Hanh talks with banking and financial expert Dr. Nguyen Tri Hieu to find out how Binh can approach these tasks. Bankers and enterprises [...]

Vietnam to weigh rate cuts if Asia’s fastest inflation slows Posted: 29 Aug 2011 08:49 AM PDT Vietnam's central bank will leave interest rates unchanged for now and consider cutting them if inflation slows, the government said as it struggles to contain Asia's fastest inflation and sustain economic growth. "In the immediate future, the central bank will keep its policy interest rates unchanged and will consider reducing them to a suitable range [...]

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