Vietnam Business News

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• Domestic gold market untouched by world price movements
• March 10: Vietnam gold rises to vnd44.68mil/tael, dollar stable
• Prospects for rice exports in 2012
• Vietnam studied international experiences in State-owned Enterprise reform
• Risks remain in bank restructuring
• Lao PM pledges assistance to Vietnam businesses
• International donors support Vietnam’s economic competitiveness, environment sustainability
• March 10: Vietnam central bank keeps dollar exchange at vnd20,828
• SBV issues regulations on foreign currency lending for resident borrowers
• Deloitte back Finance Ministry in restructuring

Domestic gold market untouched by world price movements Posted: 09 Mar 2012 09:21 PM PST Gold prices dropped 3.7 percent last week, the most since Decemeber 16, while the dollar gained 1.3 percent, according to Bloomberg. In Vietnam, the metal has continued to trade at a premium to the international price, with a gap of around VND2.3 million per tael, or VND1.9 million (US$910) an ounce. "Local prices tend to [...]

March 10: Vietnam gold rises to vnd44.68mil/tael, dollar stable Posted: 09 Mar 2012 07:32 PM PST Vietnam gold prices rose by VND360,000 to VND44.85 million a tael on Saturday morning following the world gold prices. SJC Hanoi quoted at VND44.68 million/tael for bid and VND44.85 million/tael for ask, respectively as of 9:32 am, Hanoi time. Sacombank-SBJ gold prices were listed at VND44.20-VND44.80 million/tael for bid and ask, respectively. Rong Thang Long [...]

Prospects for rice exports in 2012 Posted: 09 Mar 2012 07:29 PM PST Last year was considered a bumper year for Vietnam's rice traders having 7.1 million tonnes exported and farmers enjoying a high profit of 50 percent. Despite Vietnam's effort to secure its foothold in the global rice market over the past 23 years, experts have warned of challenges facing rice exporters in 2012 as they saw [...]

Vietnam studied international experiences in State-owned Enterprise reform Posted: 09 Mar 2012 07:18 PM PST The Vietnam's Ministry of Finance (MoF) high-level mission led by Minister Vuong Dinh Hue traveled to Singapore for experience exchange and dialogue for State-owned Enterprise (SoE) reform. This 5-day training program for MoF officials in charge of supporting the design of implementation plan of (SoE) reform proposal was sponsored by the Japan International Cooperation Agency [...]

Risks remain in bank restructuring Posted: 09 Mar 2012 07:18 PM PST A Government plan to restructure the Vietnamese banking system is positive for the sector, but a lack of clarity about the proposals and uncertainty regarding the authorities’ commitment and ability to go through with them means significant risks remained in the short to medium term, according to the latest statement released by global credit agency [...]

Lao PM pledges assistance to Vietnam businesses Posted: 09 Mar 2012 07:16 PM PST Lao Prime Minister Thoongsinh Thammavong has affirmed the intention of his government to facilitate Vietnamese businesses and localities' effective investment in Laos. The Lao PM made the commitment at a reception given to visiting Secretary of the Party Committee of southeastern Dong Nai province, Tran Dinh Thanh, in Vientiane on March 9. Thoongsinh Thammavong highlighted [...]

International donors support Vietnam’s economic competitiveness, environment sustainability Posted: 09 Mar 2012 07:14 PM PST The World Bank and the Australian Agency for International Development (AusAID) have signed a strategic partnership agreement for the next 5 years, confirming their commitment to support Vietnam's long-term socio-economic development. Accordingly, AusAID will provide the Bank 58 million AUD to invest and advise program to support Vietnam. The partnership aims to foster an enabling [...]

March 10: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 09 Mar 2012 06:30 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Friday, unchanged from Dec 26, 2011. The central bank has kept the U.S dollar exchange rate stable for the longest period since early 2011. This is also the highest dollar middle point rate set by the central bank over the last 3 years. [...]

SBV issues regulations on foreign currency lending for resident borrowers Posted: 09 Mar 2012 06:29 PM PST Accordingly, domestic credit institutions and foreign bank branches (hereafter called as credit institutions) with forex service license should decide to extend short, medium and long-term foreign currency loans for overseas payment of goods and service importation to those resident borrowers who are able to make repayment by their foreign exchange revenue In addition, credit institutions [...]

Deloitte back Finance Ministry in restructuring Posted: 09 Mar 2012 06:18 PM PST Deloitte has pledged to back the Vietnamese Finance Ministry in restructuring the sector, according to the company. According to the Company, leaders of Deloitte in the Asia-Pacific Region had a working session on March 5th with Vietnamese Finance Minister, Vuong Dinh Hue, during his visit to Singapore. At the meeting, the General Director in Asia [...]

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