Vietnam Business News

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• SJC and 5 Banks Sells another 5 Tons of Gold
• Vietnam PM sees gdp growth at 6% this year
• Oct 20: Vietnam central bank weakens dong further all-time low vnd20,738
• Vietnam gold prices was back around VND43.2 million a tael this morning
• Hanoi Oct cpi eases to 17 month low at 0.13%
• September’s trade gap bigger than estimate: Customs
• Enterprises invest in coffee areas to regain materials from foreigners
• MPI says SOEs make heavy, but ineffective investments
• Businesses urged to cooperate with Viet Kieu to boost sales overseas
• Foreign investors seek new opportunities in Vietnam

SJC and 5 Banks Sells another 5 Tons of Gold Posted: 20 Oct 2011 12:59 AM PDT The State Bank of Vietnam allowed 5 selected banks and the SJC to sell additional 5 tons of gold to the domestic market in an attempt to reduce the local gold premium and stabilize the local market. The State Bank of Vietnam allowed 5 selected banks (Eximbank, ACB, Techcombank, Dong A Bank and Sacombank) and [...]

Vietnam PM sees gdp growth at 6% this year Posted: 20 Oct 2011 12:59 AM PDT Vietnam economy is expected to growth 6% this year, said the Prime Minister Nguyen Tan Dung at the National Assembly meeting held in Hanoi today Oct 20 where he focused on presenting 2011 economic review, plans for 2012 and strategy for 2011-15. The meeting was broadcast live on state-own television VTV1 from 9:30 this morning. [...]

Oct 20: Vietnam central bank weakens dong further all-time low vnd20,738 Posted: 20 Oct 2011 12:58 AM PDT Vietnam’s central bank continued to weaken the dong for 3 consecutive days against the USD after adjusting the exchange rate down by VND5 to VND20.738 a dollar on Oct 20, the all time record low. The SBV has repeatedly adjusted down the dong 10 times with a total loss of VND110 from beginning of October [...]

Vietnam gold prices was back around VND43.2 million a tael this morning Posted: 20 Oct 2011 12:58 AM PDT Vietnam gold prices was back around VND43.2 million a tael this morning, the lowest level over the last 3 weeks as the word gold prices slumped in New York trade last night, local dollar prices were raised to the highest level over 6 months. SJC gold in the free market was traded at VND42.97 million [...]

Hanoi Oct cpi eases to 17 month low at 0.13% Posted: 20 Oct 2011 12:57 AM PDT Hanoi consumer price index (CPI) is estimated to have increased by 0.13% on-month, the lowest level from May 2010 driven by sharp falling in food prices, lower petrol prices. Hanoi's on-month CPI has slowed down for 4 straight months, from 1.32% in July, to 1.06% in August, to 0.2% in September and 0.13% in October. [...]

September’s trade gap bigger than estimate: Customs Posted: 20 Oct 2011 12:55 AM PDT The General Customs Department of Vietnam has revised the country's trade balance for September to a deficit of $1.57 billion, up $570 million from previous estimate. The General Statistical Office (GSO) late last month estimated the country's trade deficit at $1 billion. Actual exports and imports in September hit $7.94 billion and $9.44 billion, down [...]

Enterprises invest in coffee areas to regain materials from foreigners Posted: 20 Oct 2011 12:54 AM PDT In an effort to regain coffee materials from foreign businessmen, Vietnamese enterprises have to spend money to develop the growing areas. Reuters has predicted that Vietnam would have the biggest harvest so far in the 2011-2012 coffee crop with the estimated output of up to 21 million bags (60 kilos per bag), much higher than [...]

MPI says SOEs make heavy, but ineffective investments Posted: 20 Oct 2011 12:53 AM PDT The most critical issue today is the ineffective use of the state's resources by the state owned enterprises (SOEs), which affects the quality of growth, development and competitiveness of the economy. The Ministry of Planning and Investment (MPI), which is drafting the plan on improving the efficiency of SOEs' operation to be submitted to the [...]

Businesses urged to cooperate with Viet Kieu to boost sales overseas Posted: 20 Oct 2011 12:53 AM PDT Viet Kieu (overseas Vietnamese), who are mostly distributing Chinese, South Korean and Thai goods, will become the "messengers" of Vietnamese goods, if Vietnamese manufacturers cooperate with them to popularize Vietnamese goods in the world market. According to Nguyen Thanh Son, Deputy Minister of Foreign Affairs, there are 4 million Vietnamese people living in 103 countries [...]

Foreign investors seek new opportunities in Vietnam Posted: 20 Oct 2011 12:53 AM PDT The second annual Vietnam Investment Summit opened in Ho Chi Minh City on October 19, drawing over 100 representatives of investment funds and businesses across the country and other parts of the world. The two-day forum discusses the macroeconomic environment in Vietnam and looks for new investment and development opportunities in the country. Addressing the [...]

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