Vietnam Business News

---

• Gold shoots up over VND 44 million mark
• State budget spending may exceed estimate by 9.7pct in 2011
• EuroCham downgrades Vietnam’s business outlook for three straight quarters
• VinaCapital gains $18m revenue from real estate sector in Q3
• State leasing firm could sink in debts
• Agribank signs cooperation agreement with Viettel
• Private finance a bridge to infrastructure
• Work begins on hydro-power dam in Ha Giang province
• Vietnamese rice competes well in Hong Kong
• Salt production and business under review

Gold shoots up over VND 44 million mark Posted: 23 Oct 2011 12:05 AM PDT By 9am, gold was sold at VND 44.25 million a tael (37.5 grams) in Hanoi, up by VND 650,000 a tael compared with yesterday closing. Fast forward and the financial crisis of 2008 has made gold the darling of investors from hedge funds to taxi drivers, and sparked a near-doubling of prices In Ho Chi [...]

State budget spending may exceed estimate by 9.7pct in 2011 Posted: 22 Oct 2011 09:37 AM PDT In the context that Vietnamese government targets to save 10% of regular expenditures, the total state budget expenditures may exceed the estimate by 9.7% in 2011, the National Financial Committee reported on Friday. As reported, this year, the country’s domestic collection is forecast to exceed the estimate by 11.3%, up 19.9% against the actualized figure [...]

EuroCham downgrades Vietnam’s business outlook for three straight quarters Posted: 22 Oct 2011 09:37 AM PDT Results of the quarterly survey on Business Index conducted by the European Chamber of Commerce in Vietnam (Eurocham) recently show that the business environment index of European enterprises in Vietnam in the fourth quarter (Q4) has fallen 11 points against Q3, from 63 points to 52 points. According to Alain Cany, Chairman of EuroCham, the [...]

VinaCapital gains $18m revenue from real estate sector in Q3 Posted: 22 Oct 2011 09:37 AM PDT In its report on revenue of real estate investment funds under VinaCapital, in the third quarter (Q3) this year, VinaLand and Vietnam Opportunity Fund signed 71 property contracts worth $18 million. The total number of signed contracts in Q3 was lower than the figure in Q2 of 246 contracts but the contract value increased $1.3 [...]

State leasing firm could sink in debts Posted: 22 Oct 2011 09:36 AM PDT An investment of nearly $300 million to buy 77 ships for lease has left state-owned Agribank Leasing Company No 2, or ALC2, with a debt of $273 million from lessees. Ten of its vessels are detained in foreign ports while some others remain docked for a long time. One of them is Bien Nam, which [...]

Agribank signs cooperation agreement with Viettel Posted: 22 Oct 2011 09:36 AM PDT Vietnam Bank for Agriculture and Rural Development (Agribank) on October 20 inked deal with the Military Telecom Group (Viettel) on cooperation, investment and development. Under the contractual agreement, Agribank will finance and arrange capital for Viettel. In addition, Agribank will give priorities in using telecom infrastructure and services of Viettel in the bank’s operations. In [...]

Private finance a bridge to infrastructure Posted: 22 Oct 2011 09:31 AM PDT Sourcing private equity investment has proven a proper remedy to ameliorate Ho Chi Minh City's transport infrastructure. The southern hub will need around VND300 trillion ($15 billion) to develop its transport infrastructure up to 2015. However, it could only source approximately VND8.5 trillion ($410.6 million) from state coffers every year, according to Ho Chi Minh [...]

Work begins on hydro-power dam in Ha Giang province Posted: 22 Oct 2011 09:31 AM PDT Work began on October 20 on building a dam across the Song Bac River for a hydropower plant in northern Ha Giang province’s Quang Binh district. This marks an important step in the provision of electricity for the north-western region and the easing of the national power shortage. The plant, financed by the Song Bac [...]

Vietnamese rice competes well in Hong Kong Posted: 22 Oct 2011 09:30 AM PDT With improved quality and reasonable prices, Vietnamese rice has been competing well with Thai rice in the Hong Kong market. Pham Van Bay, deputy chairman of the Vietnam Food Association (VFA), said Vietnamese rice exports to Hong Kong have been increasing rapidly. He said in the first nine months of this year, Vietnam shipped a [...]

Salt production and business under review Posted: 22 Oct 2011 09:30 AM PDT A conference was held in Hanoi on October 21 by the Ministry of Agriculture and Rural Development (MARD) to review this year's salt production and discuss measures to buy, produce and supply iodized salt. In 2011, Vietnam's total salt production area covered more than 14,500 hectares, and this year's output is estimated to hit 800,000 [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610