Vietnam Business News

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• July 9: Vietnam stocks plunge on massive selling
• Changing field for foreign investors
• Few keys to unlock city condo sales
• Son Tra peninsula to lift Danang tourism
• First Solar to exit Vietnam
• Banks’ bad debts to real estate sector worse than initially reported
• Stocks decline last week on cautious trades
• Credit growth edges up 0.76pct in H1: SBV
• Bond market to champion growth
• HT Capital’s $17m for northern industrial park

July 9: Vietnam stocks plunge on massive selling Posted: 09 Jul 2012 07:57 AM PDT Vietnamese stocks kicked off the new week in redness as investors sold shares aggressively to cut loss fearing the downswing will last longer. The benchmark VN Index lost 7.32 points or 1.76% to 408.12. Volume fell by 26.22% to 31.96 million shares worth of VND444.5 billion. Put through trading contributed 3.5 million shares worth of [...]

Changing field for foreign investors Posted: 09 Jul 2012 07:51 AM PDT Foreign direct investment has become an integral part in Vietnam's economy due to the diverse investment sources it provides with significant contributions to national economic development. Former Deputy Chairman of the State Commission for Cooperation and Investment (now the Ministry of Planning and Investment) Professor Nguyen Mai digs into foreign direct investment flows in the country so [...]

Few keys to unlock city condo sales Posted: 09 Jul 2012 07:49 AM PDT Despite positive economic signs and cooling inflation, Ho Chi Minh City's apartment sales remain stagnant. According to Knight Frank Vietnam, a lack of liquidity and difficulties in obtaining credit from the financial institutions continue to be the major hurdles for potential home buyers and developers. The limited credit to the real estate sector has continued [...]

Son Tra peninsula to lift Danang tourism Posted: 09 Jul 2012 07:46 AM PDT Danang's Son Tra peninsula is hosting  a range of remarkable real estate and tourism projects. Danang People's Committee recently allowed Sun Group to develop a theme park and a resort on the peninsula. Son Tra Ocean Park will see the construction of an entertainment complex, 10 ha for a commercial and recreational zone as well [...]

First Solar to exit Vietnam Posted: 09 Jul 2012 07:44 AM PDT The leading global provider of comprehensive photovoltaic solar systems last week revealed it was selling its factory and leaving Vietnam. Brandon Mitchener, First Solar director of communications, last week told VIR the company was selling its factory in Ho Chi Minh City's Dong Nam Industrial Park. In February 2012, the American company completed an evaluation [...]

Banks’ bad debts to real estate sector worse than initially reported Posted: 09 Jul 2012 07:42 AM PDT The unexpected report about the banks' bad debts to the real estate sector has been released by the National Finance Supervision Council, which shows that the actual bad debts are much higher than the figures announced before by government agencies. Actual bad debts 1.8 times higher than previously reported By the end of 2011, the [...]

Stocks decline last week on cautious trades Posted: 09 Jul 2012 07:40 AM PDT Although shares gained value in the two final sessions of last week, the VN-Index still fell 1.64 per cent over the whole week, concluding Friday’s session at 415.55 points, while the HNX-Index dropped 1.97 per cent to close at 69.67 points. Market volumes and values continued to decline on both stock exchanges. On the HCM [...]

Credit growth edges up 0.76pct in H1: SBV Posted: 09 Jul 2012 07:39 AM PDT As of June 30, 2012, total credit growth was up 0.76 percent from the end of 2011, said the State Bank of Vietnam (SBV) at the preliminary conference on banking operations in the first half of this year. If including the balance of corporate bonds and mandates, the growth was at 1.4 percent. Earlier, according [...]

Bond market to champion growth Posted: 09 Jul 2012 07:37 AM PDT It is possible that policy-makers have been reluctant to promote the creation of a formal debt market because it could limit their control over credit and banking growth and thereby interest rates. Investment guru Christian Kamm, president of Kamm Investments, explores the importance of the development of a formal bond market as a key to [...]

HT Capital’s $17m for northern industrial park Posted: 09 Jul 2012 07:36 AM PDT Japan's HT Capital will spend $17 million taking over northern Nam Dinh province's My Trung Industrial Park from a Vietnamese firm. Vietnam-Japan Industrial Park Management, a joint venture in which HT Capital is a major stakeholder and two Vietnamese partners – PetroVietnam Securities Incorporated (PSI) and PetroVietnam Service Trading (PVCR), has inked a deal with [...]

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