Vietnam Business News

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• EU says Ireland may need to revise budget
• Goldman manager investigated in insider trade case: source
• China exports may stay strong despite weak Europe
• Asian factories see pick up in new orders
• March 01: Vietnam gold drops to vnd44.72mil/tael
• EU pledges to provide Vietnam $1Bln ODA loans in 2012
• Japan investors sound out business conditions in city
• S.Korea’s Jeju seeks to lure more Vietnam tourists
• Administrators need to be squeaky clean
• Arid business climate burns firms

EU says Ireland may need to revise budget Posted: 01 Mar 2012 01:09 AM PST Ireland may need to make further changes to its budget this year if the economy continues to deteriorate, the European Commission said on Wednesday in a draft of a report obtained by Reuters. Halfway through an unprecedented austerity drive, Ireland is implementing 3.8 billion euros ($5.08 billion) worth of tax hikes and spending cuts to reduce [...]

Goldman manager investigated in insider trade case: source Posted: 01 Mar 2012 01:08 AM PST U.S. prosecutors are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider-trading probe focusing on the company’s hedge-fund clients, a person familiar with the case said on Wednesday. Loeb works with technology hedge-fund employees, including an Asia-based analyst, Henry King, who is also under investigation, according to another [...]

China exports may stay strong despite weak Europe Posted: 01 Mar 2012 01:07 AM PST Workers at an electrical products factory in eastern China received a pleasant shock when they returned to their jobs after the Chinese Lunar New Year holidays. They expected a worryingly quiet period at the Zhejiang TTN factory in Wenzhou because orders from Western Europe, traditionally a key market, have been falling. Instead, the workers had to scramble [...]

Asian factories see pick up in new orders Posted: 01 Mar 2012 01:07 AM PST New factory orders for Asia’s manufacturing powerhouses perked up in February, easing some concerns about the global economic slowdown, purchasing managers indexes showed on Thursday. China’s factories grew more than expected in February as new export orders for big firms bounced back, according to a government purchasing managers index (PMI). The official PMI rose to [...]

March 01: Vietnam gold drops to vnd44.72mil/tael Posted: 01 Mar 2012 12:18 AM PST Vietnam gold prices dropped by VND400,000 to VND44.72 million a tael on Thursday morning. World gold prices slid 3% last night in New York but slightly rebounded this morning in Asia trade. SJC Hanoi quoted at VND44.40million/tael for bid and VND44.72 million/tael for ask, respectively as of 9:40 am, Hanoi time, up VND200,000 from yesterday [...]

EU pledges to provide Vietnam $1Bln ODA loans in 2012 Posted: 01 Mar 2012 12:16 AM PST The European Union (EU) committed to provide official development assistance (ODA) loans worth $1 billion for Vietnam in 2012, David O’Sullivan, the Deputy Foreign Minister of EU said in his visit to Vietnam on February 29th. Despite the EU's economic difficulties, EU still pledges to provide Vietnam $1 billion loans this year as they believe [...]

Japan investors sound out business conditions in city Posted: 01 Mar 2012 12:14 AM PST Japanese enterprises are willing to make long-term investment in HCMC if their demands for industrial zone infrastructure, human resources and working conditions for their specialists are met, said Shigetaka Sato, chairman of the Osaka Chamber of Commerce and Industry (OCCI). Speaking at a meeting with HCMC Vice Chairman Le Manh Ha at the City Hall [...]

S.Korea’s Jeju seeks to lure more Vietnam tourists Posted: 01 Mar 2012 12:13 AM PST Jeju Island, in a bid to attract more Vietnamese to visit South Korea's special self-governing province, has guaranteed it will extend financial aid for travel firms that bring local travelers there on chartered flights. The island's authorities will give $3,500 to travel companies for each tour they arrange, according to the Jeju authority. A tourism [...]

Administrators need to be squeaky clean Posted: 01 Mar 2012 12:12 AM PST Improving business transparency  is vital to luring investment. Vietnam Chamber of Commerce and Industry's Legislation Department deputy head Dau Anh Tuan told VIR why the business community must play with a straight bat. How have businesses commented on local governments' transparency? Provincial Competitiveness Index (PCI) survey results in the past seven years showed local governments [...]

Arid business climate burns firms Posted: 01 Mar 2012 12:11 AM PST A hostile business climate has knocked scores of firms sideways. Around 170 Hanoi-based firms filled in procedures to go bankrupt in the first two months of 2012 parallel to a decline of 2.6 per cent in new enterprise numbers and 36 per cent in new committed capital against the same period in 2011, according to [...]

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