Vietnam Business News

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• Viet Jet Air offers New Year discounts
• Businesses encouraged using e-invoice
• Ocean tuna price remains high in central region
• Can Tho to shut down delayed FDI projects
• Capital for bank restructuring mostly come from laymen
• Vietnam considers exporting urea, from 2012
• Investments in steel industry slowing down
• Foreign currency credit still be attractive to businesses in 2012
• In 2012, Vietnamese businessmen keep self-confident and cautious
• Local gold reacts quickly to global hike

Viet Jet Air offers New Year discounts Posted: 01 Feb 2012 01:36 AM PST On January 31, Vietnam’s low-cost carrier, VietJetAir, announced discounted one-way tickets between HCM City and Hanoi for just VND590,000. The prices will apply to passengers departing between March 1 to April 25 who purchase tickets online through its website in the 48 hours from 12:00, February 2, to 11:59 February 4. Passengers can make online [...]

Businesses encouraged using e-invoice Posted: 01 Feb 2012 01:36 AM PST Banking, telecommunications, electricity and airlines businesses have applied e-invoices in their operations and gained significant advantages, according to the General Department of Taxation (GDT). Using e-invoices helps them save costs on printing, delivering and storing paper invoices and makes accounting easier. The GDT is encouraging businesses, especially large ones, to implement the e-invoice system and [...]

Ocean tuna price remains high in central region Posted: 01 Feb 2012 01:35 AM PST The price of ocean tuna in the central region continues to be high at around VND170,000 per kilo as many local enterprises flocked to purchase the fish in the early days of the New Year. The lowest current price for tuna is VND115,000 per kilo and almost all fishing boat owners have made a profit. [...]

Can Tho to shut down delayed FDI projects Posted: 01 Feb 2012 01:34 AM PST Can Tho City will revoke the licenses of foreign-invested projects that have been delayed for a long time, the municipal administration has announced. A Viet Nam Investment Review (VIR) report on FDI projects in the Mekong City quoted Vo Thanh Thong, Deputy Chairman of Can Tho City People’s Committee, as saying: “The city is determined [...]

Capital for bank restructuring mostly come from laymen Posted: 01 Feb 2012 01:33 AM PST A big capital volume is flowing into the banking sector, where a drastic restructuring process is taking place. However, experts have noted that the capital mostly has come from laymen, or the investors who are not keen on the finance and banking. On January 1, 2012, SCB–the bank which took shape after the merging of [...]

Vietnam considers exporting urea, from 2012 Posted: 01 Feb 2012 01:33 AM PST Vietnam, which once had to rely on urea imports to develop agriculture, now can satisfy the domestic demand itself. Especially, it is considering exporting urea from this year. The Fertilizer Association of Vietnam FAV has said that from 2012, Vietnam would become self-sufficient in urea, when the 800,000 ton per annum Ca Mau Fertilizer Plant [...]

Investments in steel industry slowing down Posted: 01 Feb 2012 01:32 AM PST It is high possible that no investor would pour money into the steel production since the production has far exceeded the demand. Steel manufacturers have tasted the bitterness from the overinvestment in the sector. Six steel manufacturers got bankrupted in 2011 Dau tu chung khoan has quoted Pham Chi Cuong, Chair of the Vietnam Steel [...]

Foreign currency credit still be attractive to businesses in 2012 Posted: 01 Feb 2012 01:32 AM PST Borrowing money in foreign currencies, especially in dollars, would still be the attractive choice for the businesses in 2012, analysts say. At a meeting with the press in late 2011, the director of a branch of Eximbank in the south, said that the number of clients who are the businesses borrowing capital from the bank [...]

In 2012, Vietnamese businessmen keep self-confident and cautious Posted: 01 Feb 2012 01:31 AM PST Vietnamese businessmen welcome the new year 2012 with a cautiousness. They have to explore and situation and get ready to quickly respond to all possible happenings in the national economy. Businessmen have said that even if the situation is getting worse, they would still have to stay safe and overcome difficulties. In order to do [...]

Local gold reacts quickly to global hike Posted: 31 Jan 2012 10:12 PM PST Gold in Vietnam saw strong recovery this morning, after it dropped VND900,000 a tael (1.2 ounces) yesterday. Gold sold at VND45.3 million ($2,162) per tael, VND1 million higher than the global price. Local gold price reacted quickly against the global price this morning. Since opening at around 9am, local price hiked along with global price. [...]

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