Vietnam Business News

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• Property still showing vital signs of life
• Oct 10: Vietnam gold falls vnd43mln/tael threshold, dollar exchange down
• Vietnam central bank keeps dollar exchange at vnd20,653 for second day
• Bad debts of foreign firms hit $80 mln
• GreenBiz 2011 leaves its mark in grand style
• Vietnamwood2011 is charming all comers
• Doubts over Foxconn’s intent
• Investors’ big call for investment carrots
• Surveys show SMEs have revenue down, lay off workers
• HCM City Expo ’11 bound for Cambodia

Property still showing vital signs of life Posted: 09 Oct 2011 10:07 PM PDT It has been a mixed bag for Vietnam's property segment in 2011's third quarter. According to property consultants, the overall market remained gloomy, but there were bright spots. Quarterly reports from property consultants across the country showed the long-suffering office segment had experienced some improvement, while the previously robust retail segment was showing the first [...]

Oct 10: Vietnam gold falls vnd43mln/tael threshold, dollar exchange down Posted: 09 Oct 2011 10:06 PM PDT Vietnam gold prices lost VND43 million a tael threshold this morning as world gold prices dropped 1% in New York trade last Friday and local dollar price was adjusted around VND20,840 –VND20,856 for bids and the ceiling VND20.860 for ask. SJC gold was last traded at VND42.89 million and VND43.31 million/tael for bid and ask [...]

Vietnam central bank keeps dollar exchange at vnd20,653 for second day Posted: 09 Oct 2011 10:06 PM PDT Vietnam’s central bank remained the U.S. dollar’s exchange rate at VND20,653 for second day on Monday after increasing it to the highest level over four last months. Commercial banks are allowed to apply effective exchange rate +/-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today [...]

Bad debts of foreign firms hit $80 mln Posted: 09 Oct 2011 10:05 PM PDT The bad debts caused by 22 foreign-invested projects owned by bankrupted foreign firm in Vietnam, mainly in two northern provinces of Hai Duong and Phu Tho, have amounted to nearly $80 million, Sai Gon Tiep Thi newspaper reported. In addition, more than 230 projects from licensed Taiwanese and Korean investors have been dissolved and gone [...]

GreenBiz 2011 leaves its mark in grand style Posted: 09 Oct 2011 10:02 PM PDT Vietnam attaches great importance to sustainable development in particular with regards to climate change, sustainable cities and green investments. VIR talks with Alain Cany, chairman of the European Chamber of Commerce (EuroCham), to see how he saw the recent European event GreenBiz 2011 to assist Vietnam in this endeavour. Can GreenBiz 2011 be considered a success, [...]

Vietnamwood2011 is charming all comers Posted: 09 Oct 2011 10:01 PM PDT Vietnamwood/Furnitec, ASEAN's largest woodworking and furniture production trade platform, will be in full swing from October 12-15. Delivering 12,500 square metres of exhibits by 250 manufacturers from 19 countries and regions, the expo is up 20 per cent in size this year. There are 12 per cent more exhibitors than ever before. The ninth Vietnam [...]

Doubts over Foxconn’s intent Posted: 09 Oct 2011 09:59 PM PDT With Taiwanese electronics giant Foxconn deep in talks with the Brazilian government, doubts have been raised about the firm's readiness to follow through on its Vietnam investment plans. Foreign media outlets last week quoted the Brazilian Minister of Science and Technology Aloizio Mercadante as saying that negotiations on Foxconn's $12 billion investment in Brazil were [...]

Investors’ big call for investment carrots Posted: 09 Oct 2011 09:58 PM PDT Foreign investors and donors are eager to see the Vietnamese government's clear policies to encourage them to open their wallets. A representative of the European Union delegation to Vietnam told the Ministry of Planning and Investment (MPI) at a Hanoi conference last week that many foreign investors and donors were greatly interested in Vietnam's future [...]

Surveys show SMEs have revenue down, lay off workers Posted: 09 Oct 2011 09:58 PM PDT Signs of instability have appeared on the labor market, since 60 percent of small and medium enterprises (SMEs) have reportedly seen their revenue down and have to lay off workers. Businesses work at moderate level According to the SME Association, more than 20 percent of the total 500,000 SMEs have gone bankrupt, 60 percent of [...]

HCM City Expo ’11 bound for Cambodia Posted: 09 Oct 2011 09:58 PM PDT Nearly 150 Vietnamese businesses will showcase their products at an exposition to be held in Cambodia's northeastern province of Battambang on November 24-28. On display at the HCM City Expo 2011 will be processed food, plastic household appliances, agricultural materials, interior décor, textiles and footwear, as well as electronic appliances and building materials. The expo [...]

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