Vietnam Business News

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• Milk, cosmetic products to cost more from next month
• Safety jacket for garment firms
• Tea sector to boost exports
• Russia among Vietnam’s top ten visitor-generating markets
• FDI firms less optimistic despite revenue rise
• Casino projects face legal hindrances in Vietnam
• Casino and the choice of Vietnam
• Airports struggle to look for passengers
• Steel industry: big fish swallowing small fish
• Misfortune knocks on fourth-group banks’ doors

Milk, cosmetic products to cost more from next month Posted: 28 Feb 2012 11:49 PM PST Although consumer spending after Tet Lunar New Year is still relatively low in markets and retail stores across the country, milk and cosmetic producers are preparing to increase prices on many of their products from next month. New product designs, increased prices From March 1, more than 20 products such as fabric conditioner, shampoo, shower [...]

Safety jacket for garment firms Posted: 28 Feb 2012 11:48 PM PST The textile-garment sector is ramping up cost-saving measures to survive economic difficulties. Fifteen big firms and representatives from textile, garment production and commercial services sectors in the textile and garment industry just clinched an undertaking with Vinatex to save at least 5 per cent in total costs in 2012. As estimated, the programme could help [...]

Tea sector to boost exports Posted: 28 Feb 2012 11:44 PM PST If the tea sector is to meet its target of an annual export value of $440 million by 2015 double this year’s figure it must improve the quality of its product, according to industry experts. Despite the fact that Vietnam is the sixth biggest tea exporter in the world, the country’s exports typically sell for [...]

Russia among Vietnam’s top ten visitor-generating markets Posted: 28 Feb 2012 11:42 PM PST Russia has for the first time become one of Vietnam's top ten visitor-generating markets owing to staggering growth of arrivals from this market, at up to 92.1 per cent year-on-year this month, said the Vietnam National Administration for Tourism (VNAT). Over 39,000 Russian tourists have come to Vietnam this month, taking the total number of [...]

FDI firms less optimistic despite revenue rise Posted: 28 Feb 2012 11:36 PM PST Foreign direct investment (FDI) enterprises have become less optimistic about their business outlook in Vietnam though their revenues still continue growing, according to a survey of 1,970 foreign-invested firms. The survey, which provides inputs for the provincial competitiveness index (PCI) 2011, was conducted among businesses operating in five sectors namely manufacturing, construction, services, agriculture and [...]

Casino projects face legal hindrances in Vietnam Posted: 28 Feb 2012 11:36 PM PST While confirming that the establishment of casinos is necessary for the development of world-class tourism centers in Vietnam, a top official from the Vietnam Chamber of Commerce and Industry said this activity should be watched closely by administrative authorities. Developing a tourism and casino complex is not a new move for countries in the region [...]

Casino and the choice of Vietnam Posted: 28 Feb 2012 11:35 PM PST If Vietnam nods its agreement on the 6 billion dollar resort complex suggested by Las Vegas Sands, it would have to accept many other casino projects worth multi-billion dollars in the time to come. Professor Dr Nguyen Mai, former Deputy Chair of the Vietnam State Committee for Cooperation and Investment, now Chair of the Vietnam [...]

Airports struggle to look for passengers Posted: 28 Feb 2012 11:35 PM PST Big investment rate and low efficiency–both have the central region's airports to seek to increase the number of passengers and stabilize flights. However, no feasible solution has been found so far. The Dong Hoi airport in Quang Binh province has been developing the air route to HCM City with A320's and to Hanoi with ATR72's. [...]

Steel industry: big fish swallowing small fish Posted: 28 Feb 2012 11:34 PM PST While five steel companies have announced their bankruptcy, and many others have become clinically dead, some big scale steel companies still keep stable growth. Big companies' market share expanded According to the Vietnam Steel Association VSA, in 2011, the steel output decreased by 14.3 percent, while the consumed volume decreased by 15.6 percent in comparison [...]

Misfortune knocks on fourth-group banks’ doors Posted: 28 Feb 2012 11:33 PM PST It's now the most difficult time for the fourth-group banks, the ones that are considered as the worst banks and not allowed to obtain credit growth in 2012. As the names of the banks belonging to the first, second and third groups have been released; the fourth-group banks have also shown their faces. Officer of [...]

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