Vietnam Business News

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• Dung Quat a magnet for int’l investors
• Vietnam stock market to rally from q3/2012
• Private sector to access ODA capital
• HCM City seeks FDI for transportation infrastructure projects
• JP.Morgan forecasts Vietnam’s inflation to bottom at 4.2% in Oct
• June 26: Vietnam central bank keeps dollar exchange at vnd20,828
• FDI to Ho Chi Minh falls 83% in H1/2012
• HDB raises charter capital to US$238m
• Fines fail to deter securities violations
• Obama OKs telecoms satellite sale to Vietnam

Dung Quat a magnet for int’l investors Posted: 26 Jun 2012 01:02 AM PDT Many international investors are seeking chances in the central province of Quang Ngai's Dung Quat Economic Zone following the implementation of an investment plan of the Japanese JPE Steel Corporation in the area last April. On April 18 JFE and Taiwan's E-United worked with the provincial authorities over the inauguration of the Guang Lian Dung [...]

Vietnam stock market to rally from q3/2012 Posted: 26 Jun 2012 12:57 AM PDT Vietnam stock market will rebound from the end of the third quarter this year thanks to the government's fiscal and monetary policies, said Alan Pham, Chief Economist with VinaCapital. Vietnam stock market currently in the "breakout" of both sentiment and profitability outlook of listed companies, however, the market will rebound from the end of the [...]

Private sector to access ODA capital Posted: 25 Jun 2012 11:02 PM PDT Private enterprises would likely have access to loans from official development assistance (ODA) sources under a new plan from the Ministry of Planning and Investment, according to a report from the Lao Dong newspaper. The ministry’s move is part of a draft decree that makes adjustments to the existing Decree No.131 that was issued in [...]

HCM City seeks FDI for transportation infrastructure projects Posted: 25 Jun 2012 11:01 PM PDT Ho Chi Minh City is calling for foreign investment into 17 infrastructure projects, most of aim to develop the city’s transport system. Key projects estimated to cost billions of dollars include the Sai Gon-Cho Lon-Mien Tay Bus Station metro route, the Nguyen Van Linh-Thu Thiem and Go Vap junction-Quang Trung Software Park-Tan Thoi Hiep monorail [...]

JP.Morgan forecasts Vietnam’s inflation to bottom at 4.2% in Oct Posted: 25 Jun 2012 10:59 PM PDT The US-based JPMorgan Chase Bank has recently said that Vietnam's latest inflation statistics are "surprising positively". In a recently-released report, this bank said that Vietnam's consumer price index (CPI) rise in June was lower than expected. Particularly, in comparison with the same period last year, Vietnam's CPI rose by 6.9 percent against the JPMorgan Chase's [...]

June 26: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 25 Jun 2012 10:55 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged for 6 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 price for [...]

FDI to Ho Chi Minh falls 83% in H1/2012 Posted: 25 Jun 2012 10:54 PM PDT Ho Chi Minh city licensed 178 new foreign direct investment (FDI) projects with a total of $248 million in the first six months of this year, falling 83.1% on year, said the municipal Statistics Department. The figure extended the number total existing FDI projects to 4,243 with a combined capital of $31 billion. Meanwhile total [...]

HDB raises charter capital to US$238m Posted: 25 Jun 2012 10:48 PM PDT The HCM City Development Commercial Bank (HDBank) has completed raising its charter capital from VND3 trillion (US$143 million) to VND5 trillion ($238 million) following a plan approved at a recent shareholders’ meeting. With the additional charter capital, HDBank will improve its programmes, invest in infrastructure facilities, equipment and advance technology, and upgrade transaction points to [...]

Fines fail to deter securities violations Posted: 25 Jun 2012 10:44 PM PDT The maximum penalty for securities violations will be held at the current level VND500 million (US$24,000) under the latest version of the Law on Administrative Violations approved by the National Assembly and taking effect in July of next year. The low ceiling level is being viewed by experts as a setback to market development since [...]

Obama OKs telecoms satellite sale to Vietnam Posted: 25 Jun 2012 10:40 PM PDT President Barack Obama on Monday gave approval for the U.S. Export-Import Bank to extend a $125.9 million loan to a state-owned company in Vietnam to buy a U.S.-made telecommunications and television satellite, the White House said. The proposed sale, which also must be presented to Congress for a 35-day review before it can be approved [...]

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