Vietnam Business News

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• Residential market sluggish in Da Nang
• Vietnam govt to service debt for troubled cement projects
• Vietnam’s GDP growth seen at 6.5pct and CPI at 10pct in 2012: MoPI
• Official suggests potential in new European markets
• State to pay 100 per cent of farm insurance
• New law hopes to regulate direct bank wage transfers
• Metropole Hanoi, Nam Hai voted as Asia’s No1 hotel, resort: H Kong journal
• Gold soars by VND1million a tael in Vietnam
• Vietnam denies illegal timber trade with Laos
• Inflation control remains top priority: PM Dung

Residential market sluggish in Da Nang Posted: 03 Sep 2011 08:52 AM PDT The residential housing market remains sluggish in Can Tho, Binh Duong and Da Nang, property service provider Savills Vietnam said in a report released earlier this week. Transactions in the Can Tho primary market were very few. The absorption rate was 1 per cent, down 6 percentage points from the first quarter. The average price [...]

Vietnam govt to service debt for troubled cement projects Posted: 03 Sep 2011 08:52 AM PDT The Vietnamese government will provide funds to help four cement projects make foreign debt payments, the finance minister said, including one that state media says is unable to service a loan from Australia and New Zealand Banking Group Ltd. The projects were among 16 in the cement sector that had government-guaranteed loans from foreign creditors [...]

Vietnam’s GDP growth seen at 6.5pct and CPI at 10pct in 2012: MoPI Posted: 03 Sep 2011 08:51 AM PDT Ministry of Planning and Investment (MoPI) has recently submitted the country’s economic growth plan for 2012 whereby it said that the country should focus on curbing inflation, stabilizing the macro economy, achieving seasonable growth and economic and restructuring the economy. Accordingly, Vietnam’s GDP (gross domestic product) growth target would be about 6.5%, export at $101.7 [...]

Official suggests potential in new European markets Posted: 03 Sep 2011 08:50 AM PDT The European Union's countries of Austria, Slovakia and Slovenia are small but potential markets for Vietnam's exports besides current big markets like the UK or Germany, a Ministry of Industry and Trade official said this week. Counselor Nguyen Thi Thu Huong from the Vietnam Trade Office in Austria said during the online dialogue at www.ttnn.com.vn, [...]

State to pay 100 per cent of farm insurance Posted: 03 Sep 2011 08:46 AM PDT The Ministry of Finance has issued a circular effective next month to guide implementation of Prime Minister’s Decision 315 on subsidising agricultural insurance for farmers to help them overcome the impacts of natural calamities and diseases. Under the two-year pilot programme, the government will pay 100 percent of the insurance premiums for poor farming households [...]

New law hopes to regulate direct bank wage transfers Posted: 03 Sep 2011 08:46 AM PDT Direct wage payments to employee bank accounts linked to automatic teller machine cards may be written into law, indicated the Department of Labour-Salary under the Ministry of Labour, Invalids and Social Affairs. Deputy director Hoang Minh Hao said payments via bank transfer were mentioned in the draft of the Labour Code, which has been proposed [...]

Metropole Hanoi, Nam Hai voted as Asia’s No1 hotel, resort: H Kong journal Posted: 03 Sep 2011 08:45 AM PDT The Sofitel Legend Metropole Hotel Hanoi and The Nam Hai Resort in Hoi An shared top billing as Asia's best leisure properties for this year via an online poll by Hong Kong-based travel and trade journal Smart Travel Asia. The Metropole Hanoi and The Nam Hai shared the first position in the travel magazine's list [...]

Gold soars by VND1million a tael in Vietnam Posted: 03 Sep 2011 08:45 AM PDT The global price of gold increased by $48.7 an ounce in the trading session in New York last night, sending the price in Vietnam soaring by VND1million a tael (1.2 ounces) on September 2. Saigon Jewellery Company, the biggest gold shop in Vietnam, bought gold at VND47.800 million and sold at VND48.100 million at 9:17 [...]

Vietnam denies illegal timber trade with Laos Posted: 03 Sep 2011 08:44 AM PDT Vietnam authorities have rejected claims from the Environmental Investigation Agency (EIA) that Vietnamese companies illegally purchase timber from Laos. In its Commerce Interchange report, the EIA affirmed that Vietnamese timber companies like Zone 4 Military Technique Co-operation Company, Duc Long, Thanh Thuy, Khanh Thinh, Hoang Phat and Danang Vinafor, illegally imported wood from Laos to [...]

Inflation control remains top priority: PM Dung Posted: 03 Sep 2011 08:44 AM PDT Prime Minister Nguyen Tan Dung has outlined the key task for the remaining months of the year to continue with a tightened monetary policy while allowing credit for production in order to achieve the goals of containing inflation and maintaining a rational growth of around 6 per cent. At the regular cabinet meeting held in [...]

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