Vietnam Business News

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• Vietnamese workers have to struggle with Chinese for jobs, on home market
• Securities companies say idle money would flow from banks to stocks
• Vietnamese manufacturers told it’s the right time to penetrate Chinese market
• Property market looking attractive to foreigners
• GM stops making Daewoo cars in Vietnam
• Cheap, unsafe Chinese foods flood Ho Chi Minh City
• Gold slightly retreats
• Central coastal provinces cooperate in tourism development
• Hanoi to host Promotion Month Fair 2011
• Hau Giang invests VND1,000 billion in building rice storehouse

Vietnamese workers have to struggle with Chinese for jobs, on home market Posted: 14 Sep 2011 12:02 AM PDT On the construction sites in Vietnam, where Chinese enterprises act as the general contractors, Vietnamese workers have to struggle with Chinese for jobs. Wages for Vietnamese lower for Chinese workers Chinese and Japanese enterprises won the bids to become the EPC (engineering, construction, procurement) contractors of the Hai Phong thermopower plant. The construction of the [...]

Securities companies say idle money would flow from banks to stocks Posted: 14 Sep 2011 12:02 AM PDT The interest rate reductions is really good news for the production sector, the real estate market, and especially the stock market. Securities companies, in their analysis reports, have all predicted a brighter period for the stock market. FPT Securities Company The interest rate and CPI reductions have made securities investors sigh with relief. However, the [...]

Vietnamese manufacturers told it’s the right time to penetrate Chinese market Posted: 14 Sep 2011 12:01 AM PDT The Chinese demand for goods has been increasing, which should be seen as the golden opportunity for Vietnamese enterprises to boost exports, especially when other export markets have been narrowed due to the economic crisis. According to Pham Quang Dieu, Managing Director of AgroMonitor, a market analysis firm, the fact that Chinese businessmen come to [...]

Property market looking attractive to foreigners Posted: 14 Sep 2011 12:01 AM PDT Many foreign investors are seeking investment opportunities while others are already buying projects in the local property market as local developers are finding themselves mired in financial difficulties. Marc Townsend, Chief Executive Officer of CB Richard Ellis (Vietnam), said many foreign investors are looking for investment opportunities in Asia in which Vietnam is becoming an [...]

GM stops making Daewoo cars in Vietnam Posted: 13 Sep 2011 11:51 PM PDT General Motors, the world's largest automaker, announced Monday that its unit in Vietnam, Vietnam Daewoo Motor Co, or VIDAMCO, has been renamed GM Vietnam and will stop manufacturing cars under the Daewoo name. GM Vietnam said it would focus on making Chevrolets. "The changes represent a new beginning for GM in Vietnam in line with [...]

Cheap, unsafe Chinese foods flood Ho Chi Minh City Posted: 13 Sep 2011 11:51 PM PDT A plethora of news reports about their harmful quality has done nothing to dent the popularity of Chinese foods in Ho Chi Minh City, Nguoi Lao Dong newspaper reported. City markets are flooded by foods imported from China and they are reportedly sold at prices that are even lower than back home, Nguoi Lao Dong [...]

Gold slightly retreats Posted: 13 Sep 2011 11:50 PM PDT The price of gold in Vietnam only declined by VND150,000 a tael (1.2 ounces) over the previous day on September 13 although global price sharply sank in the trading sessions last night and this morning. Most gold shops bought the metal at VND47.1 million and sold at VND47.3-47.4 million at 10:40 am local time. Earlier, [...]

Central coastal provinces cooperate in tourism development Posted: 13 Sep 2011 11:49 PM PDT A seminar will be held in Tuy Hoa city, Phu Yen province, in December to strengthen cooperation in tourism development among central coastal provinces and cities. The deputy head of Ho Chi Minh City's National Assembly delegation, Dr. Tran Du Lich, who is also head of a consultative group on developing tourism in central coastal [...]

Hanoi to host Promotion Month Fair 2011 Posted: 13 Sep 2011 11:49 PM PDT The Hanoi municipal People's Committee will host Promotion Month Fair 2011 from October 28 to November 30. The annual event is expected to bring many benefits to both businesses and consumers. During the fair, 1,000 promotion points will offer discounts of above 15 percent and 2,000 others 30-50 percent discounts on thousands of products. So [...]

Hau Giang invests VND1,000 billion in building rice storehouse Posted: 13 Sep 2011 11:48 PM PDT Hau Giang leaders have allowed Phuong Trang Investment Joint Stock Company to build a rice storehouse in Chau Thanh A district and a nearly 1,000-hectare materials zone. The storehouse will cover 100 hectares in Nhon Nghia A industrial zone with an annual capacity of 500,000- 1,000,000 tonnes. Local leaders have directed relevant authorities to create [...]

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