Vietnam Business News

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• New rules set to eliminate many gold traders in Vietnam
• Gold prices increased by VND300,000 a tael to VND43.62 million/tael on Monday
• Non-SJC gold owners face loss after new bullion policy
• Google, Facebook may be asked to open rep offices in Vietnam
• Sharp decrease in apartment supply
• HCM City’s rental charge of retail space to drop further
• Tu Liem Dist to become centre of luxury hotels in Hanoi: Savills
• Liquidity crunch main cause of high interest rates: official
• Thai investment wave expected in Vietnam
• Vietnam metro includes local dairy products under price stabilization program

New rules set to eliminate many gold traders in Vietnam Posted: 09 Apr 2012 12:00 AM PDT Thousands of gold shops in Ho Chi Minh City will have to stop trading bullion due to tightened regulations set to take effect next month, an industry group has said. Most of the 2,000 gold shops in the city are small, with less than 10 billion dong in capital, and will not be able to [...]

Gold prices increased by VND300,000 a tael to VND43.62 million/tael on Monday Posted: 08 Apr 2012 10:47 PM PDT Vietnam gold prices increased by VND300,000 a tael from yesterday close to VND43.62 million/tael on Monday morning, following the world gold prices. SJC Hanoi quoted at VND43.40 million/tael for bid and VND43.62 million/tael for ask, respectively as of 9:33 am, Hanoi time. Sacombank-SBJ gold was listed at VND43.45-VND43.60 million/tael for bid and ask, respectively. Rong [...]

Non-SJC gold owners face loss after new bullion policy Posted: 08 Apr 2012 10:08 PM PDT After a decree was issued by the Prime Minister's office on April 3 that gold bars would be traded by only state monopolies, concerns among the public and gold companies have grown, since there is still no clear roadmap or regulation for conversion of non-SJC gold bullions. Owners of other brands of gold bars are [...]

Google, Facebook may be asked to open rep offices in Vietnam Posted: 08 Apr 2012 09:02 PM PDT Google and Facebook may have to open representative offices in Vietnam to provide their services for locals, if the Vietnamese communication ministry's latest draft decree gets approved. Under the draft decree announced by the Ministry of Information and Communication Friday, foreign businesses providing cross-border public information for a majority of users in Vietnam will have [...]

Sharp decrease in apartment supply Posted: 08 Apr 2012 08:59 PM PDT Supply and sales volume of apartments in the first quarter shrank sharply against last year though realtors were trying all possible ways to lure more customers into their projects, said a market research company. Savills Vietnam reported on Wednesday only two new apartment projects entered the market with some 300 units in the first quarter, [...]

HCM City’s rental charge of retail space to drop further Posted: 08 Apr 2012 08:58 PM PDT HCM City’s average rental of retail space and occupancy rate is forecast to see further decline for 2012, according to Colliers International. HCM City: pressure on rental and occupancy rate The total supply of retail space as of quarter 1 2012 is estimated at 646,000 square metre, up a 7 percent year-on-year, 87 percent of [...]

Tu Liem Dist to become centre of luxury hotels in Hanoi: Savills Posted: 08 Apr 2012 08:57 PM PDT Savills Vietnam's latest report showed that in Q1 of 2012, total supply of Hanoi hotel market was 7,250 rooms, up 1% slightly against the previous quarter, according to Vietnam Investment Review. Hanoi hotel market was still in peak season, however the leasing capacity and average rental fell 5% and 7% respectively compared with Q4 of [...]

Liquidity crunch main cause of high interest rates: official Posted: 08 Apr 2012 08:56 PM PDT Difficulties in interbank borrowing has led to a liquidity crunch at some banks, making it hard to lower lending interest rates, a senior financial official says. Some banks are having problems attracting deposits from their clients, and at the same time, they are unable to borrow from other banks. This has forced them to breach [...]

Thai investment wave expected in Vietnam Posted: 08 Apr 2012 08:56 PM PDT Data collected shows that there are over 250 projects of Thai investors with total capital of more than US$5.8 billion in Vietnam, ranking among leading 10 investors of Vietnam. In which, the Thai big investors are CP in agriculture, SCG in plastic, paper and chemical sectors, Amata in industrial zones. However, according to an economist, [...]

Vietnam metro includes local dairy products under price stabilization program Posted: 08 Apr 2012 08:55 PM PDT Ho Chi Minh City has announced a price stabilization program for products of two local diary producers – Vinamilk and Nutifood – the Vietnam Economic Forum said Thursday. The program, to last through the next Lunar New Year holiday until the end of March, will have the firms commit to keeping stable prices for six [...]

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