Vietnam Business News

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• Khanh Hoa welcomes five-star resort
• Lower value weighs on rally speed
• Farmers forced to sell paddies at dirt cheap prices
• Hanoi hosts Pacific energy summit
• Vietnamese business environment introduced in China
• Manila expands links with Vietnamese major cities
• Gov’t bond issue must not breach ceiling: NA committee
• Price of gold retreated to VND43.5 million a tael (1.2 ounces)
• Freight increases, but shipping firms still in distress
• S-Fone talks itself up

Khanh Hoa welcomes five-star resort Posted: 21 Mar 2012 11:32 PM PDT Gold Coast Company Limited and Rafaeli Group of Israel held a groundbreaking ceremony for the Manna Luxury Holiday Resort project in Cam Lam district of the central province of Khanh Hoa on March 22. Covering an area of 12 ha in the Northern Cam Ranh Peninsula Tourism Area in Cam Lam district, the five-star resort [...]

Lower value weighs on rally speed Posted: 21 Mar 2012 11:31 PM PDT The VN-Index on the HCM City bourse pared earlier losses to advance by a mere 0.5 per cent, reaching 448.10 points. Gainers outnumbered losers by 124-96. The value of trades, however, slid 14.3 per cent compared to yesterday morning’s level, totalling VND779.9 billion (US$37.1 million). Trading volume dropped to 58 million shares, a 12.3 per [...]

Farmers forced to sell paddies at dirt cheap prices Posted: 21 Mar 2012 11:30 PM PDT Despite the rising rice export prices, and the government plan to stockpile 1 million tons of rice that was implemented over the last week, many farmers still have to pile up paddies in their houses since buyers, if there are any, always demand dirt cheap prices for the grains. "My house is now filled with paddies, but [...]

Hanoi hosts Pacific energy summit Posted: 21 Mar 2012 11:30 PM PDT The Pacific Energy Summit was held in Hanoi on March 21, attracting 150 researchers, policy makers and businesspeople from nearly 20 countries. The summit focused on seeking solutions to deal with challenges due to increasing demands for energy and climate change, thus making contributions to policy orientation and implementation in the region. Experts discussed such [...]

Vietnamese business environment introduced in China Posted: 21 Mar 2012 11:29 PM PDT Two seminars with the aim of introducing business environment in Vietnam and advantages and potential of the Mekong Delta province of An Giang were held in Hong Kong , on March 21. President of the Hong Kong Business Association Vietnam (HKBAV) Winnie Lam, who spent many years doing business in Vietnam , affirmed that Vietnam [...]

Manila expands links with Vietnamese major cities Posted: 21 Mar 2012 11:28 PM PDT Cebu Pacific, the national flag carrier of the Philippines , has recently launched its direct service from Manila to Hanoi with two flights per week. The opening of the air route marks a very important milestone for Cebu Pacific as it becomes the only airline flying direct between Manila and Hanoi , said a Cebu [...]

Gov’t bond issue must not breach ceiling: NA committee Posted: 21 Mar 2012 11:28 PM PDT The National Assembly Standing Committee has requested the Government to comply with the ceiling amount mobilized from government bond sales to ensure the national financial security. The issuance of government bonds to mobilize funds for transport, irrigation and education projects and other works financed by the State Budget shall not exceed VND45 trillion a year [...]

Price of gold retreated to VND43.5 million a tael (1.2 ounces) Posted: 21 Mar 2012 10:15 PM PDT Sacombank Jewellery Company bought gold at VND43.38 million and sold at VND43.58 million as of 9.30am Vietnamese time. Saigon Jewellery Company, Vietnam's biggest gold processer and trader, collected the metal at VND43.38 million and sold at VND43.58 million as of 10.33am Vietnamese time. Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND43.43 million and [...]

Freight increases, but shipping firms still in distress Posted: 21 Mar 2012 09:38 PM PDT The freight increases on the international shipping market would in no way help Vietnamese shipping firms escape from the current difficulties. Vietnam has its own fleet, but the shipping fee is decided by other powers. Many enterprises in the status of "clinical death"  Do Xuan Quynh, Secretary General of the Vietnam Ship Owners' Association, said [...]

S-Fone talks itself up Posted: 21 Mar 2012 09:36 PM PDT S-Fone hopes technology changes will help bring performance breakthroughs. The Ministry of Information and Communications (MIC) had agreed in principle for Saigon Postel (SPT), the operator of struggling S-Fone mobile network, to shift from current CDMA technology into using HSPA (3G) technology, said head of MIC's Telecom Department Pham Hong Hai. According to managing director [...]

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