Vietnam Business News

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• July 19: Vietnam shares extend gain, liquidity at 1.5 month high
• Japanese technique barriers keep Vietnam’s shrimp away
• It’s the time of Vietnam dong
• Property shows signs of thawing
• VN30 rises slightly after revision on HOSE
• Foreign investment in garments declines
• Airlines cut fares as competition starts to take off
• VPBank cuts rates on VND460 billion in loans
• Audit reveals VND21.7 trillion loss in State budget
• US FDI ready to leave its mark

July 19: Vietnam shares extend gain, liquidity at 1.5 month high Posted: 19 Jul 2012 10:41 AM PDT Vietnamese shares posted biggest gain since 21 May, 2012 as investors rushed to buy shares on pouring liquidity when the VN Index passed through the resistance area with rising volume. The benchmark VN Index rose 9.55 points or 2.28% to 428.38. Volume rose 71.86% to 84.9 million shares worth of VND1.26 trillion. Put through trading [...]

Japanese technique barriers keep Vietnam’s shrimp away Posted: 19 Jul 2012 10:33 AM PDT A series of technical barriers have been installed by Japanese management agencies, which has given Vietnamese shrimp exporters a great deal of anxiety. The Trifluralin, Enrofloxacin and Ethoxiquin barriers Japan has been applying overly stringent measures to control antibiotic residues in the shrimp imports from Vietnam, the barrier that keeps Vietnam's products away from the [...]

It’s the time of Vietnam dong Posted: 19 Jul 2012 10:31 AM PDT Vietnam dong has big advantages over other investment channels at this moment. Keeping dong is the top choice for Vietnamese people because this allows to preserve their assets. Investors believe that in the context of the bad performance of the world and national economies, the liquidity, not the expected profit, should be considered as the [...]

Property shows signs of thawing Posted: 19 Jul 2012 10:30 AM PDT Stephen Wyatt, country manager of Knight Frank Vietnam, tells Bich Ngoc his real estate market assessment and expectations for 2012's first six months. What are the impacts of positive monetary market signals on the residential market and what are the market expectations in near future? Overall, economic conditions within Vietnam have improved dramatically in the [...]

VN30 rises slightly after revision on HOSE Posted: 19 Jul 2012 10:27 AM PDT Shares continued to rise on the HCM Stock Exchange (HOSE) on July 18 with the VN-Index edging up 0.3 percent over July 17′s session to 418.83 points while the VN30 added 0.22 percent to 494.11 points. The HCM Stock Exchange on the day revised the 30 leading stocks by capitalisation and liquidity, tracked by the [...]

Foreign investment in garments declines Posted: 19 Jul 2012 10:27 AM PDT The country’s textiles and garment sector is seeing a decline in foreign direct investment (FDI) during the past several years, and the sector is being held back by its reliance on imports of raw materials, according to the Vietnam Textile and Apparel Association. FDI in the sector reached annual average of 460 million USD during [...]

Airlines cut fares as competition starts to take off Posted: 19 Jul 2012 10:23 AM PDT The country’s five airlines are offering a slew of promotions as they vie with one another to attract customers amid the economic slump. At the beginning of last month Vietnam Airlines tied up with a service company and nine banks to roll out a promotion programme offering a 50 percent discount on fares from Hanoi to HCM City, Singapore, Kuala Lumpur, [...]

VPBank cuts rates on VND460 billion in loans Posted: 19 Jul 2012 10:21 AM PDT The Vietnam Prosperity Bank (VPBank) said it has set a maximum rate of 15% on nearly 400 existing loans totalling VND460 billion (US$22.08 million) as of July 15. The lender added that it is finalising necessary procedures to cut rates on more loans. It is estimated that the new interest rate will apply to approximately [...]

Audit reveals VND21.7 trillion loss in State budget Posted: 19 Jul 2012 10:17 AM PDT A report by the State Audit Office of Vietnam (SAOV) shows that over VND21.7 trillion (US$1.04 billion) from the State budget was misspent in 2010. This information was released at a conference on the results of audits of Government agencies, local authorities and State-owned enterprises (SOEs). According to the report, many SOEs recorded large losses [...]

US FDI ready to leave its mark Posted: 19 Jul 2012 10:16 AM PDT US foreign direct investment is expected to be explode in Vietnam as the pair’s relationship is nourished. Ngoc Linh reports. US Secretary of State Hillary Clinton last week visited Vietnam to meet with senior Vietnamese leaders and witnessed the signing of several agreements covering education exchanges and commercial contracts. Vietnam and the US just normalised [...]

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