Vietnam Business News

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• Outbound tourists increase during Tet
• Yen Tu Buddhist spring festival begins
• PM approves trade strategy, during 2011-30
• Vietnam, UK promote trade ties
• President of US Ex-Im Bank to visit Vietnam
• Gold market in 2012: high risks awaiting
• The border yuan market opens again after Tet
• Gold stalls at VND45.3 million
• Japanese company launches goods delivery services
• Feb 1: Vietnam central bank keeps dollar exchange at vnd20,828

Outbound tourists increase during Tet Posted: 01 Feb 2012 09:40 PM PST Around 80,000 tourists in Ho Chi Minh City and neighbouring provinces went abroad through Tan Son Nhat International Airport Minh City to enjoy their lunar New Year holiday, representing a year-on-year increase of 20 per cent. According to the municipal Department of Culture, Sports and Tourism, the number of people traveled by road to Cambodia [...]

Yen Tu Buddhist spring festival begins Posted: 01 Feb 2012 09:40 PM PST The Yen Tu Pagoda Spring Festival opened in the northern coastal province of Quang Ninh on February 1, the tenth day of the first lunar month, in the presence of Vice State President Nguyen Thi Doan. Buddhist dignitaries, monks, nuns, followers and visitors joined in a procession and a ceremony to offer incense to King [...]

PM approves trade strategy, during 2011-30 Posted: 01 Feb 2012 09:39 PM PST Prime Minister Nguyen Tan Dung has signed a decision to ratify an import/export strategy for the period 2011-20 with an orientation towards 2030. Under the strategy specified in Decision 2471/QD-TTg, the country’s total exports by 2020 are expected to increase by three times against an export value of $71 billion in 2010, ensuring balanced trade. [...]

Vietnam, UK promote trade ties Posted: 01 Feb 2012 09:39 PM PST The Minutes of Meeting of the fifth Vietnam-UK Joint Economic and Trade Committee (JETCO 5) were signed in Hanoi on February 1. At JETCO 5, the two sides discussed measures to lift bilateral trade ties in line with the Strategic Partnership Agreement which was signed in 2010. They stressed that JETCO is an important mechanism [...]

President of US Ex-Im Bank to visit Vietnam Posted: 01 Feb 2012 09:38 PM PST Fred Hochberg, President of the Export-Import Bank (Ex-Im Bank) of the United States and other high-ranking leaders of the bank will pay a visit to Vietnam from February 5-8. The three-day visit aims to seek opportunities for financial support for US high-quality goods and services in Vietnam. Accordingly, the delegation of the US finance organization [...]

Gold market in 2012: high risks awaiting Posted: 01 Feb 2012 09:38 PM PST With the State Bank's tentative policies on the gold market management, gold would become an investment channel with high risks, at least in the next two coming years. Vietnamese gold investors would feel unsatisfactory when hearing about the supposition that gold would not be an attractive investment channel in the future. They may quote figures [...]

The border yuan market opens again after Tet Posted: 01 Feb 2012 09:38 PM PST It is very cold now, while the Tet holiday last for a long time. Therefore, the Lang Son yuan market has only opened up since the sixth day of the Lunar New Year. However, the market still keeps quiet. Only a few people were seen making transactions at the market on the day, while the [...]

Gold stalls at VND45.3 million Posted: 01 Feb 2012 09:48 AM PST Gold in Vietnam traded around VND45.3 million a tael (1.2 ounces) on Feb. 1, while global price finished first month of the year 2012 with 11 per cent gain; however, rising momentum slowed down as investors became cautious about the negotiation between Greece and its private bond holders and global economic growth. Sacombank Jewellery Company [...]

Japanese company launches goods delivery services Posted: 01 Feb 2012 09:47 AM PST Japan's leading transportation company Sagawa Holdings has announced that it will launch delivery services in Vietnam in February on a trial basis, and then officially from March. Sagawa announced on February 1 that this year the firm will invest 100 million yen (US$1.2 million) to buy more than 30 lorries and motorbikes for goods transportation [...]

Feb 1: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 01 Feb 2012 09:45 AM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Wednesday, unchanged since Dec 26, 2011. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036. Many commercial banks changed dollar price for [...]

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