Vietnam Business News

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• Feb 17: Vietnam central bank keeps dollar exchange at vnd20,828
• Major transport projects to receive tough scrutiny
• Gold reverses previous gain
• Imported chemicals must contain Vietnamese labelling
• Discounts accelerate bike sales
• No toxic Red Bull found in Vietnam
• VietShip 2012 to be held in Hanoi late February
• Ninety six businesses receive National Quality Award 2011
• Vietnam-Angola Business Forum opens
• EU envoy expects FTA talks with Vietnam to start soon

Feb 17: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 16 Feb 2012 07:10 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. Most of commercial banks changed dollar prices [...]

Major transport projects to receive tough scrutiny Posted: 16 Feb 2012 07:05 PM PST At least 15 major transport projects will be carefully audited for the quality of their management and construction. On February 15, Nguyen Xuan Hao, Chief Inspector of the Ministry of Transport said that the ministry would intensify its inspections of over 15 major construction projects, especially those projects nearing completion. Major projects which are coming [...]

Gold reverses previous gain Posted: 16 Feb 2012 07:04 PM PST Price of gold in Vietnam erased previous gain on February 16 as global price edged down at the trading session in Asia this morning after rising at the trading session in New York last night. Sacombank Jewellery Company bought gold at VND44.45 million and sold at VND44.75 million as of 8.45 am Vietnamese time. Saigon [...]

Imported chemicals must contain Vietnamese labelling Posted: 16 Feb 2012 07:03 PM PST All imported chemical substances sold in Vietnam must be labelled in the Vietnamese language, the Ministry of Industry and Trade has announced. The ministry’s circular on classifying and labelling of chemical substances said that labels must include the chemical’s name, identity code, potential hazards, ingredients, date of manufacture and expiry date. Information about manufacturers and [...]

Discounts accelerate bike sales Posted: 16 Feb 2012 07:03 PM PST Motorbike makers in Vietnam produced 384,800 units in January, a year-on-year increase of 11.3 per cent, fuelled by discounts in retail prices, statistics released on February 15 showed. The revival of the motorbike sector was attributed to the mass discount of retail prices to trigger demand. “There is no other way to ignite demand than [...]

No toxic Red Bull found in Vietnam Posted: 16 Feb 2012 07:02 PM PST No Red Bull products circulating in Vietnam have been found containing toxic substances, confirmed the Vietnam Food Administration (VFA) yesterday, following reports that the product has been taken off shelves in China on fears of containing banned additives. The VFA had ordered the National Institute for Testing Food Safety and Hygiene, and the Ho Chi [...]

VietShip 2012 to be held in Hanoi late February Posted: 16 Feb 2012 07:01 PM PST Nearly 200 domestic and foreign shipbuilders and maritime groups will take part in an international exhibition in Hanoi from February 28 to March 1. Two thirds of the participants come from Japan, the Republic of Korea, China, Holland, Poland, the Netherlands, Switzerland, Norway, Singapore, Russia and Spain. The information was revealed by Nguyen Quoc Anh, [...]

Ninety six businesses receive National Quality Award 2011 Posted: 16 Feb 2012 07:01 PM PST The National Quality Award 2011 has been presented to 96 outstanding businesses from 44 cities and provinces throughout the country and two other businesses have been honoured with the Global Performance Excellence Award (GPEA) 2011. On February 16, the General Department of Standards, Measurements and Quality under the Ministry of Science and Technology, in coordination [...]

Vietnam-Angola Business Forum opens Posted: 16 Feb 2012 07:00 PM PST Vietnam will do its utmost to further promote political and economic relations with Angola and create the best conditions for businesses from the two countries to cooperate with each other. Vice State President Nguyen Thi Doan made the commitment at the Vietnam-Angola Business Forum held in Hanoi on February 16, with the aim of further [...]

EU envoy expects FTA talks with Vietnam to start soon Posted: 16 Feb 2012 07:00 PM PST The ambassador and head of the European Union (EU) Delegation to Vietnam, Franz Jessen, believes negotiations on a free trade agreement (FTA) with Vietnam will begin soon, as the two sides have put their efforts on this and expansion of relations. Over the past year, the EU and Vietnam have had a number of discussions [...]

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