Vietnam Business News

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• Russia, Belarus, Kazakhstan negotiate FTA with Vietnam
• Vietnam would have to pay dearly if it pushes credit too far
• Gold prices edged up to VND42.68 million/tael on Saturday
• Real estate firms want recovery plan
• Overseas Vietnamese shun stocks
• A hard time for garment makers
• PM pledges better business environment for investors
• Vietnam to offer VAT refunds for foreign tourists
• Land-use registration offices to be consolidated
• Vietnam lending rises more than expected as banks push loans

Russia, Belarus, Kazakhstan negotiate FTA with Vietnam Posted: 21 Apr 2012 11:02 PM PDT Russia, Belarus and Kazakhstan are entering into negotiations for a free trade agreement (FTA) with Vietnam, according to Viktor Khristenko, head of the Eurasian Economic Community (EAEC). Khristenko made the announcement during a meeting with outgoing Prime Minister Vladimir Putin in Moscow on April 20, Vietnam News Agency reported. The EAEC prioritises FTA negotiations with [...]

Vietnam would have to pay dearly if it pushes credit too far Posted: 21 Apr 2012 11:01 PM PDT The ceiling deposit interest rate has been slashed to 12 percent per annum from 13 percent. However, as the production remains stagnant, the 15-17 percent credit growth rate may be unattainable. 15-17 percent a far-away goal In the first quarter of 2012, the minus credit growth led to the dissolution of tens of thousands of [...]

Gold prices edged up to VND42.68 million/tael on Saturday Posted: 21 Apr 2012 10:20 PM PDT Vietnam gold prices edged up to VND42.68 million/tael on Saturday afternoon, world gold closed flat in New York trade last night, ending its weekly loss of 1%. SJC Hanoi quoted at VND42.46 million/tael for bid a nd VND42.68 million/tael for ask, respectively as of 13:57 am, Hanoi time. Sacombank-SBJ gold was listed at VND42.62-VND42.67 million/tael [...]

Real estate firms want recovery plan Posted: 21 Apr 2012 09:20 AM PDT Real estate firms based in HCM City want the municipal administration to ensure that annual interest rates on loans are immediately reduced to between 14 and 16 percent and later to between 11 and 12 percent per annum. The reduced borrowing rates are part of 12 measures suggested by the HCM City Real Estate Association [...]

Overseas Vietnamese shun stocks Posted: 21 Apr 2012 09:20 AM PDT Overseas remittances have increased steadily year by year, and while a large proportion of remittances end up being invested in real estate, just a tiny proportion has been put into the nation’s stock market, Gardners&Partners Investment Joint Stock Co general director Nguyen Tien Thanh has said. Just five years ago, most remittances flowed directly into [...]

A hard time for garment makers Posted: 21 Apr 2012 09:19 AM PDT After achieving the highest export earnings in the first quarter, the garment sector is now facing a significant slowdown in its export growth, especially in key markets such as the US, Japan and the European Union. Shrinking markets overseas The Vietnam Textile and Apparel Association (Vitas) says garment exports in the past three months fetched [...]

PM pledges better business environment for investors Posted: 21 Apr 2012 09:16 AM PDT Vietnam has constantly improved its investment environment, and welcomed Japanese businesses to invest in the country. Prime Minister Nguyen Tan Dung made the statement at a reception in Tokyo on April 20 given by the Japan Chamber of Commerce and Industry (JCCI) and the Japan Business Federation (Keidanren). He has been in Japan for the [...]

Vietnam to offer VAT refunds for foreign tourists Posted: 21 Apr 2012 09:15 AM PDT As of June 1, foreign travelers will receive VAT refunds for the goods they have purchased in Vietnam when leaving the country via Hanoi’s Noi Bai or Ho Chi Minh City’s Tan Son Nhat airports. Under this pilot scheme launched by the Prime Minister, any foreigner leaving Vietnam with an invoice worth at least VND2 [...]

Land-use registration offices to be consolidated Posted: 21 Apr 2012 09:11 AM PDT Pilot projects to consolidate the registration of land-use rights to one office in each province has been given the thumbs up. Previously registrations were handled in a myriad offices at the commune level. One office in each province, and major city outside the provinces, will have branches in their local areas with full functions to [...]

Vietnam lending rises more than expected as banks push loans Posted: 21 Apr 2012 09:10 AM PDT Banks in Vietnam ramped up their lending at the end of last year, pushing up outstanding loans for 2011 by more than expected, the government said on Friday. The annual volume of loans that banks in the country are permitted to make is based on the amount they lent the year before, and lenders were [...]

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