Vietnam Business News

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• Nov 7: Vietnam Gold Inches Up to VND45.7Mln/Taael
• Mercedes-Benz reports 3 per cent sales rise in October
• Japanese laser printer plant set for Hai Phong
• RoK market reopens to new Vietnamese workers
• Equity regulation to deter investor plans
• Local firms to run into bigger bond barrier
• Steel firms made of cement
• Nha Trang resort selected “Vietnam’s Leading Resort 2011”
• First Solar plan is no shooting star
• Workers’ income far below cost of living

Nov 7: Vietnam Gold Inches Up to VND45.7Mln/Taael Posted: 06 Nov 2011 10:26 PM PST Vietnam gold prices gained VND0.2 million a tael to VND 45.7 million/tael this morning following suit of the world gold price in Asia this morning, dollar midpoint exchange rate stayed unchanged at VND20,803 from October 28. SJC Hanoi quoted at VND45.500 million/tael for bid, and VND45.770 million/tael for bid and ask, respectively as of 9: [...]

Mercedes-Benz reports 3 per cent sales rise in October Posted: 06 Nov 2011 10:24 PM PST German carmaker Daimler said on Friday its Mercedes-Benz unit saw worldwide sales rise in October, powered by strong demand in the United States and China. Daimler said in a statement it sold a total 111,683 of its Mercedes-Benz and Smart cars worldwide last month, an increase of 3.1 per cent year-on-year. Mercedes’ US sales rose [...]

Japanese laser printer plant set for Hai Phong Posted: 06 Nov 2011 10:24 PM PST The Kyocera Mita group of Japan hosted a groundbreaking ceremony on Nov. 3 for a laser printer production plant in the northern port city of Hai Phong . Covering an area of 20 hectares at the Vietnam-Singapore Industrial Park , the plant is built with a total initial investment of $187.5 million, the largest FDI [...]

RoK market reopens to new Vietnamese workers Posted: 06 Nov 2011 10:23 PM PST The Republic of Korea's Human Resource Development Service will resume Korean language tests for Vietnamese workers in December. Head of the Overseas Labour Management Department Nguyen Ngoc Quynh said at a press briefing in Hanoi on November 3 that after a four-month suspension due to increasing numbers of illegal Vietnamese workers in RoK, the test [...]

Equity regulation to deter investor plans Posted: 06 Nov 2011 10:23 PM PST Foreign investors are warning of a slump in foreign direct investment if Vietnam's policy-makers green-light a controversial rule. The proposed regulation is part of a Ministry of Planning and Investment's (MPI) draft decree guiding the implementation of the Investment Law. The draft decree would amend and supplement Decree 108/2006/ND-CP issued five years ago and might [...]

Local firms to run into bigger bond barrier Posted: 06 Nov 2011 10:22 PM PST New rules will make it tougher for underperforming enterprises to raise capital on the bond market. Decree 90/2011/ND-CP on issuance of corporate bonds via private offering by limited liability firms and joint stock companies in Vietnam will create a stronger legal framework for domestic private companies selling corporate bonds via private offerings. The new decree, [...]

Steel firms made of cement Posted: 06 Nov 2011 10:22 PM PST Steel firms are finding ways to survive in a current tough business climate. Local leading steel maker Hoa Phat Group (HPG) just operates at 80 per cent of its capacity to reduce inventory. In the meantime it had applied diverse energy-saving and material-saving measures to lower financial costs in the face of squeezing credit and [...]

Nha Trang resort selected “Vietnam’s Leading Resort 2011” Posted: 06 Nov 2011 10:21 PM PST The Vinpearl Resort Nha Trang has just been recognized as "Vietnam’s Leading Resort 2011" by the World Travel Awards. This is the fourth time the resort has been awarded by the World Travel Awards, which already includes Vietnam’s Leading Spa Resort 2008, Vietnam’s Leading Resort 2007 and Vietnam’s Leading Spa Resort 2004. In addition, the [...]

First Solar plan is no shooting star Posted: 06 Nov 2011 10:21 PM PST US-backed First Solar's factory in Ho Chi Minh City will not see the light of day just yet after the firm said it was putting the facility under wraps for the time being. The firm, which manufactures photovoltaic thin-film solar modules, last week announced it would delay $300 million factory in Cu Chi district, Ho [...]

Workers’ income far below cost of living Posted: 06 Nov 2011 10:20 PM PST Wages in Vietnam are on the rise, but most of the country's workers  are just scraping by. Nearly two-third of Vietnamese workers are pocketing less than VND3 million ($145) a month, just enough to cover basic expenses, according to a new survey conducted by Vietnam General Confederation of Labour's Institute of Workers and Trade Union. [...]

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