Vietnam Business News

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• Gold jumps to one-month high
• Ceramic firms start to crack
• Two to the power of one
• Metro opens fish transshipment center in Can Tho
• Death of pangasius, shrimps in Mekong Delta
• Thai floods force Honda Philippines to close
• Vietnam: Second largest producer of anti-malarial drug
• Small telecom firms fear monopoly over EVN Telecom deal
• Telco opportunities now abound
• 8 businesses got car import licenses, more cars arriving

Gold jumps to one-month high Posted: 03 Nov 2011 10:56 PM PDT The price of gold in Vietnam jumped to VND45.7 million a tael (1.2 ounces), the highest level in the past one month on November 4 as global price sprang 1.6 percent in the trading session in New York last night. Sacombank Jewelry Company bought gold at VND45.45 million and sold at VND45.75 million as of [...]

Ceramic firms start to crack Posted: 03 Nov 2011 10:55 PM PDT Ceramic firms are being squeezed by surging costs and shrinking consumption. According to Vietnam Building Ceramic Association (VIBCA) figures, ceramic firms' inventories amounted to 30 million square metres, the highest ever. Vicenza factory has designed capacity of four million square metres per year. However, now the firm's inventory came to over 800,000sqm. Vicenza factory director [...]

Two to the power of one Posted: 03 Nov 2011 10:55 PM PDT Giant transport infrastructure projects are in for a lift. Minister of Transport (MoT) Dinh La Thang has inked Document 6454/BGTVT-TTCB seeking the prime minister's approval to form two big groups operating in civil engineering construction by restructuring the sector's existing construction corporations. Accordingly, one such group, incorporating the Civil Engineering Construction Corporation 1 (Cienco 1), [...]

Metro opens fish transshipment center in Can Tho Posted: 03 Nov 2011 10:54 PM PDT German retailer Metro Cash & Carry Vietnam yesterday opened a fish transshipment center in Can Tho under a public-private partnership meant to ensure sustainable development of seafood in Vietnam. The center, at Metro's outlet in the city, has been set up in partnership with the Ministry of Agriculture and Rural Development, the Vietnam Challenge Fund, [...]

Death of pangasius, shrimps in Mekong Delta Posted: 03 Nov 2011 10:54 PM PDT Death of pangasius, shrimps in the Mekong Delta provinces have caused prices to skyrocket and much despair for business enterprises. Enterprises in the Mekong delta provinces of An Giang, Dong Thap and Can Tho have been willing to purchase the fish at VND27,000 (nearly $1.3) to VND28,000 per kilogramme, but farmers are unable to meet [...]

Thai floods force Honda Philippines to close Posted: 03 Nov 2011 10:53 PM PDT Japanese automaker Honda has suspended production at its Philippine plant because suppliers in flooded Thailand are unable to deliver parts, a company official said Thursday. Honda Philippines shut its factory this week and will not re-open until it can find alternative suppliers to those in Thailand, human resources manager Joseph Tacorda said. “At this point, [...]

Vietnam: Second largest producer of anti-malarial drug Posted: 03 Nov 2011 10:52 PM PDT Vietnam is the second largest Artemisinin producer in the world, according to an international seminar on Artemisinin held in Hanoi on November 2. China is ranked first in producing the drug used to treat malaria. China and Vietnam occupy 70 per cent of the raw material for Artemisinin processing while East Africa provides nearly 20 per [...]

Small telecom firms fear monopoly over EVN Telecom deal Posted: 03 Nov 2011 10:51 PM PDT Hanoi Telecom sent a request to the prime minister seeking interventions in acquisition plans for EVN Telecom. Fears of a monopoly in the telecom market have been sparked by rumours that EVN Telecom could be bought out by Viettel, pushing smaller telecom companies out of business. These fears were made public in a document by [...]

Telco opportunities now abound Posted: 03 Nov 2011 10:51 PM PDT The government's recent move retrenching telecom network infrastructure firms with state ruling shares offers vast opportunities to investors. Under Decision 55/2011/QD-TTg dated mid October 2011 the state will have controlling stake in five firms. These are state group Vietnam National Post and Telecoms Group (VNPT), military-run Viettel Group, GTel Mobile Joint Stock Company (GTel), Vietnam [...]

8 businesses got car import licenses, more cars arriving Posted: 03 Nov 2011 10:50 PM PDT At least eight businesses have got the car import licenses. A lot of businesses are nearly completing necessary procedures, ready to carry cars to Vietnam. The car market is expected to heat up again after two years of quietness. The Hai Phong Customs Agency has sent to the General Department of Customs and the Ministry [...]

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