Vietnam Business News

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• Banks to lend dong at lower dollar rates
• Kien Giang province to attract investment
• Agro waste turns into million-dollar revenues
• NA acorporate income llows 30% tax cut
• Sluggish trades pull shares down
• Challenges and chances for Cambodia investment
• Residential buyers are told strike while the iron is hot
• Office landlords struggling to woo tenants to west of Hanoi
• Mulberry Lane on track to open despite sad market
• ACO to energise landmark solar project

Banks to lend dong at lower dollar rates Posted: 25 Jun 2012 01:40 AM PDT The aim, industry insiders and observers say, is to increase credit growth at a time the banks have been asked to limit loans made in foreign currencies through many strict conditions. Enterprises or individuals who want to borrow money from banks for their business activities can take three or six month loans in Vietnamese dong [...]

Kien Giang province to attract investment Posted: 25 Jun 2012 01:39 AM PDT Prime Minister Nguyen Tan Dung stressed that Kien Giang province should take advantages of current policies, or build new ones if needed, to attract infrastructure investment, especially in irrigation systems and traffic facilities for agricultural development. He made the statement while working with key local leaders on the provincial socio-economic situation on June 24. PM [...]

Agro waste turns into million-dollar revenues Posted: 25 Jun 2012 01:39 AM PDT It is without question that bagasse, pineapple skins, and cashew husks are agricultural by-products, but to some innovative businesses these are also a huge source of revenue, helping them rake in millions of US dollars annually. "Cashew husks are no longer considered waste, but have become a valuable raw material," said Tran Van Phuc, director [...]

NA acorporate income llows 30% tax cut Posted: 25 Jun 2012 01:38 AM PDT The National Assembly today voted for the Resolution o­n tax policy to ease difficulties against organizations and individuals. Under the newly-approved resolution, the tax cut will benefit small and medium-sized enterprises (SMEs) except for those operating in the fields of lottery, real estate, security, finance, banking, insurance, production of commodities and services subjected to special [...]

Sluggish trades pull shares down Posted: 25 Jun 2012 01:38 AM PDT Shares failed to retain earlier gains this morning, extending last Friday’s losses. On the HCM City Stock Exchange, the VN-Index closed the morning session at 424.64 points, a 0.6 per cent off with 186 losers out of 262 listed stocks. Market value reached 48.7 per cent of last Friday’s entire session, totalling VND368.2 billion (US$17.5 [...]

Challenges and chances for Cambodia investment Posted: 25 Jun 2012 01:34 AM PDT The third Vietnam-Cambodia Investment Promotion Conference took place yesterday in the Mekong Delta province of Kien Giang's Ha Tien Town, chaired by Vietnamese Prime Minister Nguyen Tan Dung and his Cambodian counterpart, Hun Sen. Cambodia is the second largest outbound investment market of Vietnam, with total investment worth US$2.36 billion. "Many projects have been smoothly [...]

Residential buyers are told strike while the iron is hot Posted: 25 Jun 2012 01:34 AM PDT It is high time for customers to decide to buy accommodation, when the price is at its lowest. All signs point to end users taking the plunge and buying accommodation. Reduced prices and plenty of products meant there was never a better time to buy, said Ministry of Construction's Real Estate and Housing Market Management [...]

Office landlords struggling to woo tenants to west of Hanoi Posted: 25 Jun 2012 01:34 AM PDT West Hanoi office landlords are struggling to attract tenants due to a supply glut. CBRE reported 175,000 square metres of new supply would be launched in the area within 2012 and "with the abundant supply in the area, landlords are now aggressively competing against one another by offering generous discounts to secure tenants now rather [...]

Mulberry Lane on track to open despite sad market Posted: 25 Jun 2012 01:31 AM PDT Singapore's CapitaLand will complete construction of Hanoi's Mulberry Lane residential apartment project on schedule, despite the gloomy property market. Mulberry Lane's structure was completed this month and developer CapitaLand will conduct a topping ceremony in August. Mulberry Lane is located in Mo Lao new urban area of Ha DOng district and developed by CapitaLand and [...]

ACO to energise landmark solar project Posted: 25 Jun 2012 01:30 AM PDT US-based ACO Investment Group plans to plug into the local renewable power sector with Vietnam's first ever solar power project. The firm has expressed an interest in building a 50 megawatt solar power farm in central Binh Thuan province, according to Binh Thuan People's Committee. An ACO Investment Group in Vietnam representative last week confirmed [...]

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