Vietnam Business News

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• Property market still unpredictable
• VietinBank officially opens a branch in Lao PDR
• Vietnam: better opportunities ahead for fruit exports to US
• Electricity price may be adjusted based on raw material prices in 2012: moit
• Feb 7: Vietnam central bank keeps dollar exchange at vnd20,828
• Feb 7: Vietnam gold rises to vnd44.92mln/tael, dollar stable
• Las Vegas Sands looks to roll the dice
• Garment sector short of orders
• Cashew exports to earn US$1.75 bln
• Vietnam-Brazil trade reaches over US$1.4 billion

Property market still unpredictable Posted: 06 Feb 2012 09:10 PM PST Most property experts have said the market will continue facing difficulties, at least to the end of the second quarter, while some expect the market will begin improving early this year. Those in charge of business of the property projects hold a positive view that the efforts of the authorities and the banking sector will [...]

VietinBank officially opens a branch in Lao PDR Posted: 06 Feb 2012 08:56 PM PST Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank or CTG) organized a ceremony to open a branch in the Lao People’s Democratic Republic, which is the bank's first branch in ASEAN region. The branch officially began its operation on Feb 3, 2012 and has its head office located at No. 029 KhounBoulom Street [...]

Vietnam: better opportunities ahead for fruit exports to US Posted: 06 Feb 2012 08:50 PM PST Vietnam is still struggling to break into the US in a big way with fruit exports. This is due to formidable food safety barriers to the market and is in spite of growing demand in the States. On average, every American spends around US$232 on 124 kg of fruits a year, Matthew Lantz of the [...]

Electricity price may be adjusted based on raw material prices in 2012: moit Posted: 06 Feb 2012 08:49 PM PST Electricity price will be increased if coal price for electricity to be equal with the market price in 2012, the Ministry of Industry and Trade (MoIT) said in its press conference held on Feb 6, 2012 in Hanoi. According to the Prime Minister's Decision No.24 on April 15th 2011, price of input material is one [...]

Feb 7: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 06 Feb 2012 08:45 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Tuesday, 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 continued changing the dollar [...]

Feb 7: Vietnam gold rises to vnd44.92mln/tael, dollar stable Posted: 06 Feb 2012 08:44 PM PST Vietnam gold prices rose by VND0.27million/tael from yesterday close to VND44.92 million a tael on Tuesday morning despite the world gold prices fell in New York last night and steady in Asia this morning. SJC Hanoi quoted at VND44.60 million/tael for bid and VND44.92 million/tael for ask, respectively as of 9:28 am, Hanoi time. SJC [...]

Las Vegas Sands looks to roll the dice Posted: 06 Feb 2012 08:33 PM PST US tycoon Sheldon Adelson told VIR’s Dong Hoa that his Las Vegas Sands is willing to build luxurious integrated resorts (IR) in Hanoi and Ho Chi Minh City at a combined investment capital of $5-6 billion. You met several Vietnamese government officials during your visit to Vietnam in December last year. What are the outcomes [...]

Garment sector short of orders Posted: 06 Feb 2012 08:33 PM PST Only around 10 percent of Vietnam's major garment businesses currently have orders for the third and fourth quarters. This is a rather low figure compared to the same period last year when most businesses received bulk orders from their counterparts. The Ministry of Industry and Trade (MoIT) said that the production of cotton fabric has [...]

Cashew exports to earn US$1.75 bln Posted: 06 Feb 2012 08:31 PM PST Vietnam is forecast to export 200,000 tonnes of cashew nuts this year, earning US$1.75 billion in revenue, according to the Ministry of Agriculture and Rural Development (MARD). The exports are expected to increase by 25,000 tonnes in volume and US$250 million in value against last year's figures, enhancing the country's position as the world's leading [...]

Vietnam-Brazil trade reaches over US$1.4 billion Posted: 06 Feb 2012 08:31 PM PST Two-way trade between Vietnam and Brazil in 2011 hit more than US$1.4 billion, up 53.8 percent from a year earlier, according to the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC). This is the first time the two-way trade performance has exceeded US$1 billion. Brazil exported goods worth US$794 million to Vietnam and imported commodities valued [...]

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