Vietnam Business News

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• Binh Duong province attracts $2Bln FDI in H1/2012, up 100% year target
• Cooking gas prices seen to fall vnd38,000/12kg canister from early July
• Local gold prices hovered around VND41.75 million/tale threshold on Thursday morning
• Accor hotels announce expansion in Vietnam
• Cheap credit packages raise doubts among lenders
• Industrial production recovers slightly in June
• SAV and KPMG ink cooperation agreement
• Floor price a lifebuoy for catfish growers
• WB says Vietnam makes good use of its loans
• HDBank’s capital skyrockets 66 per cent

Binh Duong province attracts $2Bln FDI in H1/2012, up 100% year target Posted: 28 Jun 2012 12:58 AM PDT Binh Duong province licensed 51 new foreign direct investment (FDI) projects with a total of $1.42 billion in the first six months of this year, and 57 project expansions worth $664 million, said the province's Statistics Department. Meanwhile new registered businesses in the province in the first half were 780 and business expansions were 201 [...]

Cooking gas prices seen to fall vnd38,000/12kg canister from early July Posted: 28 Jun 2012 12:55 AM PDT Local retail gas prices is expected to fall VND38,000 per 12kg Canister to around VND310,000 from early July following suit of global gas downtrend movement. The Thoi Bao Kinh Te Sai Gon (Sai Gon Times) quoted a gas trader as saying that contract price for gas has fallen $130/ton by last week from $722.5 earlier [...]

Local gold prices hovered around VND41.75 million/tale threshold on Thursday morning Posted: 28 Jun 2012 12:46 AM PDT Local gold prices hovered around VND41.75 million/tale threshold on Thursday morning following suit of a pause in global market ahead of EU summit, local premium continued to stay high at VND2 million a tael. Hanoi SJC gold is quoted at VND41.65 million/tael for bid and VND41.75 million/tael for ask, respectively as of 10:00 local time. [...]

Accor hotels announce expansion in Vietnam Posted: 28 Jun 2012 12:39 AM PDT International hotel operator Accor announced on June 26 that it recently committed to the operation of three hotels now under development in Danang. They are the 186-roonm Pullman Danang Beach Resort, which will open in the third quarter, the 90-room Bana Hills, a member of the Mgallery Collection, to open in the third quarterof 2014 and the 372-room [...]

Cheap credit packages raise doubts among lenders Posted: 28 Jun 2012 12:39 AM PDT Eximbank has shocked other bankers and businesses when announcing the credit program which offers to lend to businesses at the surprisingly low interest rate of 7 percent per annum. However, the super-cheap capital package has raised doubts among businesses. 7 percent or 13 percent per annum? Thanh Nien has cited the latest report by the [...]

Industrial production recovers slightly in June Posted: 28 Jun 2012 12:38 AM PDT The Index of Industrial Production (IIP) recovered slightly in June, inching up 2 per cent against the previous month, the General Statistics Office (GSO) reported yesterday. However, the office said, the index’s growth in the first half of the year remained low at 4.5 per cent compared with the rising rates of 9.7 per cent [...]

SAV and KPMG ink cooperation agreement Posted: 28 Jun 2012 12:33 AM PDT On June 27, State Audit Office of Vietnam (SAV) and KPMG in Vietnam signed the framework agreement on professional cooperation in Hanoi. The agreement aims to enhance exchange and cooperation in terms of career development and professional expertise improvement for the staff members of SAV and KPMG, contributing to the development of the accounting and [...]

Floor price a lifebuoy for catfish growers Posted: 28 Jun 2012 12:32 AM PDT The Vietnam Association of Seafood Exporters and Processors (VASEP) has called on the Ministry of Agriculture and Rural Development and the government to approve its proposal to set a minimum price on catfish procurement and export to support growers and processors. The proposal was made during yesterday's meeting between VASEP and Minister of Agriculture and [...]

WB says Vietnam makes good use of its loans Posted: 28 Jun 2012 12:31 AM PDT Vietnam is one of the ten best countries in terms using their IDA loans, the World Bank said at a conference it jointly held with the Vietnamese Ministry of Planning and Investment in Hanoi on Wednesday. An IDA loan is lending granted to poor and developing countries by the WB's International Development Association. WB officials [...]

HDBank’s capital skyrockets 66 per cent Posted: 28 Jun 2012 12:27 AM PDT Strategic partner hunting HDBank has increased its chartered capital from VND3 trillion ($144.2 million) to VND5 trillion ($240.3 million). Its chairwoman Le Thi Bang Tam said this move focused on enhancing financial competency, investing in technology and upgrading transaction offices. "This new capital will help us strengthen our financial resources to create more chances to [...]

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