Vietnam Business News

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• Gold prices retreated to nearly VND42 million a tael
• Cultural market to highlight ethnic specialties
• Gold moves yet to shine
• Thai Group set to invest in Danang tourism
• Tourism sector eyes travellers from emerging nation
• S. Korea helps city develop river tourism
• Gov’t should buy bad property loans: experts
• Shrimp exports post low growth
• Vietnam firms make good use of FTAs
• State Bank to impose sanctions on debt ridden banks

Gold prices retreated to nearly VND42 million a tael Posted: 19 Apr 2012 10:42 PM PDT Price of gold in Vietnam retreated to nearly VND42 million a tael (1.2 ounces) on April 19 as global price continually declined on concerns that the eurozone debt crisis could flare up again. Sacombank Jewellery Company bought gold at VND42.55 million and sold at VND42.63 million as of 9.05am Vietnamese time. Saigon Jewellery Company, Vietnam's [...]

Cultural market to highlight ethnic specialties Posted: 19 Apr 2012 08:25 PM PDT Ethnic minority groups from various parts of Vietnam are taking part in a cultural market opened on April 19 in the Vietnamese Ethnic Groups Culture and Tourism Village in Dong Mo tourist area, 40km from Hanoi. The market forms part of activities in the Vietnam Ethnic Groups Cultural Festival, representing traditional market spaces of ethnic [...]

Gold moves yet to shine Posted: 19 Apr 2012 08:24 PM PDT The reshuffling of the gold sector continues to bring sideways glances. Foreign-invested firms processing and trading in jewels were disappointed that draft circular to Decree 24/2012/ND-CP of April 3, 2012 regulating gold business management did not mention export jewel gold content inspection, which is the biggest challenge for firms. In November 14, 2011 the Ministry [...]

Thai Group set to invest in Danang tourism Posted: 19 Apr 2012 08:23 PM PDT The Amata Group of Thailand views Danang as a long-term investment opportunity in Vietnam, its President Vikrom Kromadit has said. Talking with Vietnam Investment Review newspaper, Amata Group President Vikrom Kromadit said in his eyes Danang boasts many advantages as the most attractive tourist destination in Vietnam because of its beautiful coastal location and good [...]

Tourism sector eyes travellers from emerging nation Posted: 19 Apr 2012 08:03 PM PDT The global tourism industry, hit by natural disasters and economic turmoil, is eyeing potential travellers from emerging nations in hope that their growing middle and upper classes could spur growth. Delegates converged on disaster-struck Japan this week for the sector’s major annual conference and were in an upbeat mood, encouraged by the prospect of the [...]

S. Korea helps city develop river tourism Posted: 19 Apr 2012 08:03 PM PDT The Jeju tourism authority will support the HCMC Department of Culture, Sports and Tourism in developing the river tourism as well as exchange staff to enhance management experiences and promote tourism. Nguyen Bao Anh from the department said that a delegation from Jeju has arrived in the city to study the river route from District [...]

Gov’t should buy bad property loans: experts Posted: 19 Apr 2012 08:02 PM PDT The Government should take over certain bad property loans to give a much-needed boost to the long-distressed real estate market, experts said. Loans owed by most property firms have fallen due, so credit easing for the sector will not help, Phan Thanh Mai, general secretary of the Vietnam Real Estate Association, said at a seminar [...]

Shrimp exports post low growth Posted: 19 Apr 2012 08:01 PM PDT As of March 15, shrimp exports posted a modest year-on-year growth rate of 4.5%, much lower than the growth rates of other key seafood items, according to Vietnam Association of Seafood Exporters and Producers (VASEP). VASEP said tuna and tra fish exports surged by 23.1% and 15.2% year-on-year respectively in January- March. Meanwhile, shrimp exports [...]

Vietnam firms make good use of FTAs Posted: 19 Apr 2012 08:01 PM PDT Domestic businesses have been taking advantage of the free trade agreements (FTA) signed between Vietnam and other countries. Le Trieu Dung, deputy head of the Multilateral Trade Department of the Ministry of Industry and Trade, told the Daily that local companies had benefited much from the FTAs with the average utilization ratio of 30% recorded [...]

State Bank to impose sanctions on debt ridden banks Posted: 19 Apr 2012 07:59 PM PDT The State Bank of Vietnam (SBV) will impose a credit growth restriction on credit institutions and foreign bank branches, whose ratio of non-performing loans to total outstanding loans is 10% or higher during three consecutive months. On April 16, the SBV on issued Circular No. 10/2012/TT-NHNN, stipulating sanctions against violating credit institutions and foreign banks [...]

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