Vietnam Business News

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• May 9: Vietnam central bank keeps dollar exchange at vnd20,828
• Gold tumbled this morning, breaking VND42 million/tael threshold
• 18,000 Vietnam firms go bankruptcy or suspend operation in 4m/2012
• More Japanese investors coming to Vietnam
• Rice export orders hit new high
• FDI firms play main role in apparel exports
• Seminar seeks ways to develop organic vegetables
• Trade with Laos grows in first quarter
• Big steelmakers exploit market
• Cooking gas prices fluctuate

May 9: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 08 May 2012 11:47 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Wednesday, unchanged for more than 4 months, the longest string since it has been applied but also the highest one. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling [...]

Gold tumbled this morning, breaking VND42 million/tael threshold Posted: 08 May 2012 11:46 PM PDT Vietnam gold tumbled this morning, breaking VND42 million/tael threshold to touch VND41.27 million a tael following the world gold prices. SJC Hanoi quoted at VND41.05 million/tael for bid and VND42.27 million/tael for ask, respectively as of 9:06 am, Hanoi time. Sacombank-SBJ gold was listed at VND41.10-VND41.23 million/tael for bid and ask, respectively. Rong Thang Long gold, [...]

18,000 Vietnam firms go bankruptcy or suspend operation in 4m/2012 Posted: 08 May 2012 11:45 PM PDT Vietnam recorded around 18,000 enterprises go bankruptcy or suspend their operation in the first four months this year, up 9.5% on year, the Ministry of Planning and Investment (MoPI) said in its report at the Government's regular meeting in April. The figure accounts for nearly 30% of all enterprises and is predicted to climb up [...]

More Japanese investors coming to Vietnam Posted: 08 May 2012 11:44 PM PDT Japan's investment in Vietnam has sharply increased in the first four months this year and this trend is expected to continue in the coming time. Among 32 countries and territories having new investment projects in Vietnam since the beginning of this year, Japan took the lead with fresh capital of nearly $2.9 billion, accounting for [...]

Rice export orders hit new high Posted: 08 May 2012 11:42 PM PDT Vietnam has signed contracts to export over 4.5 million tons of rice in the year to date, increasing 300,000 tons from the recent record high, said the Vietnam Food Association (VFA). This is attributed to the recent successful deal to export 300,000 tons of 15% broken rice to Indonesia at US$425 per ton. Of all [...]

FDI firms play main role in apparel exports Posted: 08 May 2012 11:41 PM PDT Thanks to foreign direct investment (FDI) companies, local apparel products successfully maintained its leading position in the nation's top export products in the first four months of the year. Statistics by the General Statistics Office showed garment and textile products from early January to the middle of last month fetched an impressive export revenue of [...]

Seminar seeks ways to develop organic vegetables Posted: 08 May 2012 11:30 PM PDT The development of eco-friendly agriculture and ways to boost the production of organic vegetables were the major topics of a seminar held in Hanoi on May 8. The seminar was jointly held by the Vietnam Farmers' Association (VFA) and the Asian Farmers' Association for Sustainable Rural Development. At the event, VFA Vice President Ha Phuc [...]

Trade with Laos grows in first quarter Posted: 08 May 2012 11:16 PM PDT Bilateral trade between Viet Nam and Laos topped US$232 million during the first quarter of this year, up 57 per cent year-on-year, according to the Ministry of Industry and Trade. Of the total, $96 million came from Viet Nam’s exports, up 78 per cent over the same period last year. The two countries plan to [...]

Big steelmakers exploit market Posted: 08 May 2012 11:15 PM PDT Large steel makers are trying to grab market share from small and medium players who are cutting down production due to the downturn in the industry. Pomina Steel Company, a major construction-steel manufacturer with nearly 14 per cent of the market, hopes to increase sales in both volume and value terms. It did not specify [...]

Cooking gas prices fluctuate Posted: 08 May 2012 11:14 PM PDT The deputy head of PetroVietnam’s commercial department, Phan Kien Anh, spoke with the newspaper Tuoi Tre (Youth) about plans to increase auctions of domestically-produced gas. The cost of domestic cooking gas is estimated at about $100 per tonne below that of imported gas, since it doesn’t include import tariffs, insurance and transport costs. Why is [...]

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