Vietnam Business News

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• Property sector coming back to life
• Two Vietnamese banks evaluated stable
• Forum discusses nation’s maritime economy
• Danang hosts banking and investment conference
• Dollar, gold prices surge
• Cement master plan causes no crisis, says minister
• Car sales down despite promotions
• M&As an investment channel and measure for economic restructuring
• Rice exports increase sharply in May
• Luxury flats still ready for launch

Property sector coming back to life Posted: 07 Jun 2012 09:04 PM PDT Lower lending rates and a loosened valve for property credit are thawing out property projects. The second phase of 264 hectare state-of-the art urban complex Splendora in Hanoi's Hoai Duc district recently underscores the trend. "We are committed to ensuring progress as well as construction quality up to expectations about the urban complex. Our company [...]

Two Vietnamese banks evaluated stable Posted: 07 Jun 2012 09:01 PM PDT Standard & Poor's Ratings Services on June 6 revised the outlooks on Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and Bank for Investment and Development of Vietnam (BIDV) to stable from negative. At the same time, Standard & Poor's affirmed its 'B+/B' issuer credit ratings on both banks. The ratings on Vietinbank [...]

Forum discusses nation’s maritime economy Posted: 07 Jun 2012 09:00 PM PDT The fourth Vietnam Marine Trademark Forum was held in the southern coastal province of Ba Ria –Vung Tau on June 7, to look at ways of boosting the economic potential of the country's seas and islands in a sustainable manner. Themed "Economic potential and the ecological environment of Vietnamese islands," the forum attracted representatives from [...]

Danang hosts banking and investment conference Posted: 07 Jun 2012 08:59 PM PDT More than 200 domestic and foreign bankers, creditors and property developers from 16 countries around the world gathered at a banking and investment conference in Danang on June 7-8. The event provided a good chance for domestic and foreign businesses to access information about investment opportunities in real estate, tourism, retail, banking, infrastructure and energy [...]

Dollar, gold prices surge Posted: 07 Jun 2012 08:55 PM PDT Local commercial banks quoted the U.S. dollar selling price at the upper limit of VND21,036 on Wednesday, rising a sharp VND30 compared to the day earlier, while gold prices also surged strongly by VND500,000 per tael. This is the second strong rally of the greenback this year after the first one in March, when the [...]

Cement master plan causes no crisis, says minister Posted: 07 Jun 2012 08:55 PM PDT The master development plan for the country's cement industry from 2011 to 2020 approved by the Prime Minister goes in line with market movements and there is no cement crisis caused by the scheme, said the Minister of Construction. Trinh Dinh Dung told an online forum organized in Hanoi on Tuesday that the country last [...]

Car sales down despite promotions Posted: 07 Jun 2012 08:52 PM PDT The local automobile industry continued to see a sharp decline in sales last month, even though automakers tried to lure buyers with many promotional and customer care programs. Last month, Mercedes-Benz Vietnam offered a huge discount program, with some luxury cars marked down by over VND1 billion a unit. However, the German automaker failed to [...]

M&As an investment channel and measure for economic restructuring Posted: 07 Jun 2012 08:52 PM PDT The recent increasing number of Mergers and Acquisitions (M&A) deals indicates that it is not only an investment channel but also a measure for business restructuring and improving their operation. Addressing a forum in Ho Chi Minh City on June 7, Deputy Minister of Planning and Investment Dang Huy Dong affirmed that authorities are paying [...]

Rice exports increase sharply in May Posted: 07 Jun 2012 08:51 PM PDT Vietnam's rice exports in May reached 788,296 tonnes, a record high since January 2010, says the Import Export Department under the Ministry of Industry and Trade. The figure showed an increase of 12 percent over last year's same month. Total rice shipments in the past five months were about 2.5 million tonnes. With a sharp [...]

Luxury flats still ready for launch Posted: 07 Jun 2012 08:50 PM PDT Even though most apartment projects are failing to lure buyers at the price of less than VND20 million a square meter, several project owners in the city's center are still presenting their luxury products with each square meter worth up to hundreds of millions of Vietnam dong. The Saigon M&C building located at the corner [...]

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