Vietnam Business News

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• Divestment of State groups and corporations seems difficult before 2015
• PM urges to ensure economic growth targets
• Why farmers insist on growing low grade rice?
• Vietnamese bank faces Government-forced restructuring
• Consumers put cars on sale to avoid proposed fees
• Vietnam Airlines discount 40 percent on domestic fares
• JFE Steel eyes up $4.5bn Guang Lian steel project
• Business optimism takes dive
• REITs needed to lure foreign capital
• Foreign investors keep “cautiously optimistic”

Divestment of State groups and corporations seems difficult before 2015 Posted: 01 Apr 2012 10:29 PM PDT State groups and corporations in Vietnam will have to finish the restructuring and divestment of non-core investments before 2015 according to the government's request. However, in the gloomy market context, the divestment seems to be very difficult. Apart from the deal of EVN to transfer EVN Telecom to Viettel, the capital divestment of groups is [...]

PM urges to ensure economic growth targets Posted: 01 Apr 2012 10:28 PM PDT Prime Minister Nguyen Tan Dung has asked the State Bank of Vietnam to press ahead with drastic action to keep inflation at a single digit figure and maintain an appropriate economic growth of 6 percent. Maintaining economic growth at an appropriate rate will contribute to stabilising the macro economy and ensuring social welfare, Cabinet members [...]

Why farmers insist on growing low grade rice? Posted: 01 Apr 2012 10:28 PM PDT Mekong River Delta farmers, once again, ignored the advice of the Ministry of Agriculture and Rural Development (MARD) on restricting the low grade rice growing area. Why did they think nothing of the state management agency's opinions? Before starting a new crop, Mekong Delta farmers always ask themselves which rice varieties they should grow. MARD [...]

Vietnamese bank faces Government-forced restructuring Posted: 01 Apr 2012 10:27 PM PDT The Government requested the restructuring of Vietnam Development Bank (VDB) to heighten efficiency. Under a recent request by Deputy Prime Minister Vu Van Ninh, VDB has been asked to form a restructuring strategy that would go into 2020. Reports from the bank were requested to be sent to the Ministry of Finance before submission to [...]

Consumers put cars on sale to avoid proposed fees Posted: 01 Apr 2012 10:26 PM PDT Many local residents have been seeking buyers for their cars, which they used to dream of possessing, on fears of a number of new traffic fees to be applied on automobiles. One of those trying to sell their car is Tung, a resident of Ho Chi Minh City's Tan Binh District, who has put his [...]

Vietnam Airlines discount 40 percent on domestic fares Posted: 01 Apr 2012 10:26 PM PDT National flag carrier Vietnam Airlines will apply a discount of 40 percent on their domestic air fares for local travel agencies to promote inbound traveling from now until December 31, according to their southern office. Vietnam Airlines and the Ho Chi Minh City Association of Tourism will pick certain travel agencies to cooperate in setting [...]

JFE Steel eyes up $4.5bn Guang Lian steel project Posted: 01 Apr 2012 10:24 PM PDT JFE Steel has decided to study this option before considering opportunities in other countries E-United Group's plans to build a $4.5 billion steel project in Vietnam have received a massive boost with steel giant Japan's JFE Steel Corporation saying it wants to join the party. JFE Steel, the world's sixth largest steel-maker, said it had [...]

Business optimism takes dive Posted: 01 Apr 2012 10:23 PM PDT Business optimism has slumped in Vietnam despite a general rise in good spirits across the Asia-Pacific region. Business optimism in Vietnam plummeted from 34 per cent in 2011's fourth quarter down to 6 per cent in the first quarter of 2012, according to the latest research from the Grant Thornton International Business Report (IBR), a [...]

REITs needed to lure foreign capital Posted: 01 Apr 2012 10:22 PM PDT Businesses need to study different capital mobilisation forms that have been applied successfully around the world – Nguyen Manh Ha Director of the Housing and Real Estate Market Management Agency Property experts have claimed real estate investment trusts could help draw in huge foreign direct investment inflows for Vietnam. VREIT Management chief Hoang Nguyen said [...]

Foreign investors keep “cautiously optimistic” Posted: 01 Apr 2012 10:21 PM PDT More foreign capital has been poured into the stock market recently, which, in the eyes of analysts, could be seen as the sign showing foreign investors' optimism about Vietnamese stocks.  The Saigon Securities Incorporated (SSI) believes that the total foreign capital poured into the stock market has reached 19 trillion dong so far this year. [...]

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