Vietnam Business News

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• Vietnam may have 100 private helicopters in the next 10 years: businessman
• The convenience store race heating up
• Institutional investors keep cautious about interest rate reductions
• Luxury car sales rise strongly
• Central bank calls for holistic outlook at banks’ profit
• Foreign “big guys” eyeing Vietnamese e-commerce market
• Auto joint ventures escape from tax arrear collection
• Power groups want to raise electricity prices right from September
• Vietnam- an attractive destination for US businesses
• Southern hub expo to promote four ASEAN countries

Vietnam may have 100 private helicopters in the next 10 years: businessman Posted: 09 Sep 2011 02:02 AM PDT Though the Vietnamese average income per capita remains at "low average" level, Commercial Manager of Vinacopter, a distribution firm, Jussi Hoikka, still believes that the demand for private aircraft in Vietnam would soar in the time to come. There are about 20 operational helicopters in Vietnam, a very modest figure if compared with the number [...]

The convenience store race heating up Posted: 09 Sep 2011 02:02 AM PDT More and more convenience stores, which provide modern services like supermarkets and can reach out to every corner in residential quarters like traditional markets, have been set up in the plan of retailers to expand their networks. In late August 2011, Saigon Co-op put another Co.opFood convenience store in Binh Thanh district into operation, raising [...]

Institutional investors keep cautious about interest rate reductions Posted: 09 Sep 2011 02:01 AM PDT Some investment institutions believe that the interest rates would not go down sharply, while they have also warned about the possible risks to occur when the interest rates fell too rapidly. While officials feel elated when talking about the interest rate reduction trend, businesses keep placid, while institutional investors keep cautious. The awaited meeting between [...]

Luxury car sales rise strongly Posted: 09 Sep 2011 02:01 AM PDT Despite economic uncertainty and runaway inflation forcing consumers to spend less, local manufacturers and distributors of luxury vehicles have reported strong sales growth. Mercedes-Benz Vietnam has seen steady business growth. In particular, it had recorded a total sales volume of 1,500 units in the year to end-July, with car sales expanding 25% year-on-year to 1,100 [...]

Central bank calls for holistic outlook at banks’ profit Posted: 09 Sep 2011 02:00 AM PDT The report which has been released by the State Bank of Vietnam, shows that the ROE (return on equity) index of the banking system stays at the average level if compared with the ROEs of the other 20 sectors, ranking 11 out of 21, while the ROA (return on assets) is the lowest. The report [...]

Foreign “big guys” eyeing Vietnamese e-commerce market Posted: 09 Sep 2011 02:00 AM PDT Within three more years, the Vietnamese e-commerce market would be the playing field of foreigners unless Vietnam immediately applies strong measures to support the field, experts have warned. The names like eBay, Amazon, Rakuten or Alibaba have been well known by Vietnamese people. eBay and Alibaba have been officially presenting in Vietnam after eBay purchased [...]

Auto joint ventures escape from tax arrear collection Posted: 09 Sep 2011 02:00 AM PDT The proposal by the Ministry of Finance on the new way of taxing car part imports, which has got the nod from the Prime Minister in principle, will help automobile joint ventures to "get out of danger": they will not have to pay the tax arrears of up to multi trillions of dong. Finally, taxation [...]

Power groups want to raise electricity prices right from September Posted: 09 Sep 2011 01:59 AM PDT The three powerful state owned economic groups, including the Vietnam Coal and Mining Industries (Vinacoal), PetroVietnam and the Electricity of Vietnam (EVN), have all proposed to raise the electricity prices as soon as possible in order to speed up the power projects. Power generators once again claim for power price increases The meeting on September [...]

Vietnam- an attractive destination for US businesses Posted: 09 Sep 2011 01:58 AM PDT US businesses are very keen to invest in Vietnam and want to expand cooperation with Vietnamese counterparts in economics, trade and investment, especially when Vietnam's macroeconomy is showing positive signs. This was released by the US-ASEAN Business Council at a press briefing in Hanoi on September 7, which drew the participation of nearly 40 US [...]

Southern hub expo to promote four ASEAN countries Posted: 09 Sep 2011 01:57 AM PDT The seventh Ho Chi Minh City International Travel Expo (ITE HCMC 2011) will take place from September 14-17 with the participation of the tourism industries of Cambodia, Laos, Myanmar and host Vietnam. This year, Myanmar will take part in the event for the first time, which is themed "Four countries, one destination". ITE HCMC has [...]

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