Vietnam Business News

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• Vietnam gold prices hovered at VND44.90 million a tael on Friday morning
• Vinacomin to invest vnd35.5tln in infrastructure for coal mining in 2012
• Feb 10: Vietnam central bank keeps dollar exchange at vnd20,828
• Vietnam Central Bank net withdraws nearly VND44Tln on OMO during Feb 6-9
• Total interbank loans estimated at vnd500tln: Le Xuan Nghia
• Vietnam state audit to audit 3 banks in 2012
• Government urged to take actions to stop the FDI decline
• Zing Deal gives up the games, what’s next?
• When Japanese come and buy
• Australian businesses eye Quang Binh province

Vietnam gold prices hovered at VND44.90 million a tael on Friday morning Posted: 09 Feb 2012 11:08 PM PST Vietnam gold prices hovered at VND44.90 million a tael on Friday morning. The world gold eased in New York last night and steady in Asia this morning. SJC Hanoi quoted at VND44.58 million/tael for bid and VND44.90 million/tael for ask, respectively as of 9:38 am, Hanoi time. SJC Ho chi minh was quoted at VND44.58-44.88 [...]

Vinacomin to invest vnd35.5tln in infrastructure for coal mining in 2012 Posted: 09 Feb 2012 11:07 PM PST The Vietnam National Coal -Mineral Industries Holding Corporation (Vinacomin) will invest a total of VND 33.5 trillion ($1.6 billion) in developing infrastructure for coal mining in 2012, Vu Manh Hung, the deputy director of Vincomin said on Feb 7. Vinacomin is now finishing its preparation to start investments in new coal mines named Khe Cham [...]

Feb 10: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 09 Feb 2012 11:07 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Friday, 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 slightly changed the prices [...]

Vietnam Central Bank net withdraws nearly VND44Tln on OMO during Feb 6-9 Posted: 09 Feb 2012 11:04 PM PST The State Bank of Vietnam (SBV) net withdrew VND43.917 trillion from commercial banks through the open market operations in the first four days of this week (Feb 6-9), the local newswire NDHMoney.vn reported, citing Reuters' data. The central bank was reported to pump VND9.081 trillion for 7- and 14- day windows at 14% per annum [...]

Total interbank loans estimated at vnd500tln: Le Xuan Nghia Posted: 09 Feb 2012 11:03 PM PST Outstanding loans in the interbank market totaled VND500 trillion, the local online newspaper Saigon Dau Tu quoted Le Xuan Nghia, deputy chairman of the National Finance Supervision Committee as saying. Meanwhile, total deposits between credit institutions remained unknown. According to the NFSC's deputy chairman, total deposits in the interbank market are much higher than total [...]

Vietnam state audit to audit 3 banks in 2012 Posted: 09 Feb 2012 11:02 PM PST The State Audit of Vietnam on February 9 announced its auditing agenda for 2012, in which it sought to investigate three banks, namely BIDV, VBSP, and MHB. The State Audit of Vietnam on February 9 announced its auditing agenda for 2012, in which it sought to investigate three banks, namely Bank for Investment and Development [...]

Government urged to take actions to stop the FDI decline Posted: 09 Feb 2012 10:46 PM PST The unsatisfactory result of foreign direct investment (FDI) in the first quarter of 2011 is not enough to prove that the FDI is in the decline in Vietnam. However, this should be seen as an early warning about the urgency of the new measures to more effectively attract FDI in 2012. Phan Huu Thang, former [...]

Zing Deal gives up the games, what’s next? Posted: 09 Feb 2012 10:46 PM PST Groupon shopping model, which has been very successful in the US. However, despite the great advantages, analysts believe that the model is not likely to succeed in Vietnam. VNG on February 7 officially announced the closing of zing.deal.vn, a Groupon service, after published the decision on the website last week. The announcement has caught the [...]

When Japanese come and buy Posted: 09 Feb 2012 10:45 PM PST Analysts are witnessing a movement of Japanese investors coming to Vietnam and seeking to purchase Vietnamese companies. They say the current Vietnam's gloomy economy is getting pinkish with the color of Japanese cherry blossoms. Came, saw and bought In early 2012, Ezaki Glico, a Japanese sweet and food manufacturer, bought 14 million shares, or 10 [...]

Australian businesses eye Quang Binh province Posted: 09 Feb 2012 10:40 PM PST Australian businesses have expressed their hope for early opportunities to invest in Vietnam's central Quang Binh province. They made this statement at a seminar promoting investment in central Quang Binh province, in Sydney on February 9. At the event, Chairman of the Quang Binh Provincial People's Committee Nguyen Huu Hoai briefed Australian companies and Overseas [...]

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