Vietnam Business News

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• Gold prices edged down by VND200,000/tael
• HSBC: Vietnam successful in curbing inflation
• Pangasius prices tumble in Mekong Delta
• Tourism rep office for South Korea
• Ministry sacks Sabeco bosses
• Inflation forecast to hit single digits
• Rolls-Royce forecasts higher profit in 2012
• Vinalines could lose petrol import quota, says ministry
• Vietnam successful in implementing tight monetary policy
• $1.4 bln package to assist Vietnam firms unveiled

Gold prices edged down by VND200,000/tael Posted: 05 May 2012 07:26 PM PDT Vietnam gold edged down by VND200,000/tael from yesterday close to VND42.60 million/tael on Saturday morning despite the world gold rose in New York trade last night. SJC Hanoi quoted at VND42.38 million/tael for bid and VND42.60 million/tael for ask, respectively as of 9:56 am, Hanoi time. Sacombank-SBJ gold was listed at VND42.50-VND42.54 million/tael for bid and [...]

HSBC: Vietnam successful in curbing inflation Posted: 05 May 2012 07:25 PM PDT Vietnam's successful implementation of tightening measures in 2011 has curbed demand for credit and slowed inflation significantly, said the Hong Kong and Shanghai Banking Corporation in its report released in May this year. According to the report, credit growth slowed from 27.7 percent in 2010 to 10.9 percent in 2011. While the State Bank of [...]

Pangasius prices tumble in Mekong Delta Posted: 05 May 2012 07:23 PM PDT Price of Pangasius fish has continued to drop in the Mekong Delta to a low VND22,000-23,000 per kilogram, causing much anguish to breeders who will be faced with substantial losses or even bankruptcy. Breeders in Vinh Long, Tien Giang and Dong Thap Provinces and Can Tho City said that with such low prices they would [...]

Tourism rep office for South Korea Posted: 05 May 2012 07:21 PM PDT Vietnam's tourism industry is set to open a representative office in South Korea after signing a memorandum of understanding with a Japanese partner to open an office in Japan in March. The Ministry of Culture, Sports and Tourism on Wednesday presented to Prime Minister Nguyen Tan Dung the plan and a scheme to attract South [...]

Ministry sacks Sabeco bosses Posted: 05 May 2012 07:20 PM PDT Saigon Beer Alcohol and Beverage Corp board chairman Nguyen Ba Thi and general director Nguyen Quang Minh have been sacked. They no longer manage the State-owned stake in the company, following a Ministry of Industry and Trade decision. The ministry recommended management board members Phan Dang Tuat and Pham Thi Hong Hanh be employed chairman [...]

Inflation forecast to hit single digits Posted: 05 May 2012 07:19 PM PDT Inflation eased to 10.5 per cent year-on-year in April from 14.1 per cent in March, and a monthly report from HSBC expects headline inflation to fall to a single-digit level by May. The rate had peaked at 23 per cent last August. “Headline inflation rose the least in the past three years, with prices in [...]

Rolls-Royce forecasts higher profit in 2012 Posted: 05 May 2012 07:19 PM PDT British aircraft engine maker Rolls-Royce said on Friday it expected “good growth” in sales and profits this year. “Trading since the start of the year is consistent with the guidance provided in .. February,” the group said in a short trading update. “For the full year, the group continues to expect good growth in underlying [...]

Vinalines could lose petrol import quota, says ministry Posted: 05 May 2012 07:18 PM PDT The Ministry of Industry and Trade has requested the Viet Nam National Shipping Lines (Vinalines) Corporation to reorganise its petrol import and consumption, saying it must use at least 50 per cent of the minimum petrol import quota allocated for the year by the ministry. If it failed to do so, the company stood to [...]

Vietnam successful in implementing tight monetary policy Posted: 05 May 2012 07:16 PM PDT The Vietnamese government has made strides in putting its tight monetary policy in place, helping reduce credit demands and inflation, according to HSBC Group. According to the Group's May 2012 report, the Vietnamese government has taken great pains to curb inflation by adopting the tight monetary measures. Credit growth fell from 27.7 percent in 2010 [...]

$1.4 bln package to assist Vietnam firms unveiled Posted: 05 May 2012 07:15 PM PDT An assistance package targeting local businesses at an unprecedented scale encompassing diverse solutions from tax reduction to exemption was officially unveiled at a government press meeting yesterday. The package, worth a whopping sum of VND29 trillion, or US$1.39 billion, include delaying or cutting corporate income tax (CIT); deferring value-added tax (VAT); exempting excise tax, and [...]

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