Vietnam Business News

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• More condominiums rolled out for public
• Greater efforts needed to reach yearly rice export target
• EVN forecasts big gains from divestments
• Who benefits from the new fuel management?
• Vinh Phuc calls for US investment
• CPI continues to dip, posts 2nd consecutive fall
• Foreign banks asked to clarify credit plans
• National trade deficit shrinks in seven months
• Mexico, Vietnam trade exchange enjoys steady growth
• Textile and garment exporters face downturn

More condominiums rolled out for public Posted: 24 Jul 2012 12:24 AM PDT The Golden Land complex  in Hanoi last week started the sale of the last 60 units in Block B. Those from 93 to 166 square metre units are offered at VND24 million ($1,150) per square metre. Golden Land is built on 2.3 hectares in 275 Nguyen Trai street, Thanh Xuan district. It combines four residential [...]

Greater efforts needed to reach yearly rice export target Posted: 24 Jul 2012 12:17 AM PDT Although domestic rice exporters faced difficulties in the first half of this year, there is hope that Vietnam will achieve its yearly target for 7 million tones if it can export to potential markets. Vietnam has so far earned US$1.626 billion from exporting more than 3.4 million tonnes of rice, above the set target for [...]

EVN forecasts big gains from divestments Posted: 24 Jul 2012 12:08 AM PDT Electricity of Viet Nam (EVN) expects significant capital gains when it divests from the insurance and real estate sectors in compliance with the Prime Minister’s order that State-owned enterprises focus investment solely on core lines of business by 2015. EVN deputy director Dinh Quang Tri has confirmed that the group has VND1.1 trillion (US$52.3 million) [...]

Who benefits from the new fuel management? Posted: 24 Jul 2012 12:03 AM PDT No sooner had the Ministry of Finance transferred the right to adjust fuel retailing prices into the hands of wholesalers than the latter began to announce the very first price hikeafter five consecutive drops beginning in May. Starting at 10pm on July 20 Petrolimex, the country's largest fuel wholesaler, PV Oil, and Saigon Petro, all increased [...]

Vinh Phuc calls for US investment Posted: 23 Jul 2012 11:58 PM PDT Many businesses from Japan, the Republic of Korea, China and other countries have invested in northern Vinh Phuc province but there is none from the US. This was revealed at a forum held by the US Embassy in coordination with a working mission from Vinh Phuc province in Washington DC on July 23. In his [...]

CPI continues to dip, posts 2nd consecutive fall Posted: 23 Jul 2012 11:58 PM PDT Vietnam's consumer price index (CPI) in July continued to post a negative growth rate of 0.29 percent, the second drop in a row, according to the General Statistics Office of Vietnam (GSO). With the new CPI figure, the country's CPI rose 2.22 percent from December 2011 and 5.35 percent year on year. The respective figures [...]

Foreign banks asked to clarify credit plans Posted: 23 Jul 2012 11:57 PM PDT The State Bank of Vietnam on July 23 issued a document to request foreign credit institutions and banks in Vietnam to send reports on their credit products and programmes to the central bank before August 2. The move is part of Resolution No13 NQ/CP, issued by the Government on May 10, this year. The resolution [...]

National trade deficit shrinks in seven months Posted: 23 Jul 2012 11:57 PM PDT The national trade deficit reached 58 million USD in the first seven months of this year, representing only 0.09 percent of total export value, the General Statistics Office (GSO) has reported. This followed a decline in imports of 323 million USD from May to June, and 390 million USD from June to July. GSO’s Trade [...]

Mexico, Vietnam trade exchange enjoys steady growth Posted: 23 Jul 2012 11:52 PM PDT Two-way trade between Vietnam and Mexico in the first five months of this year saw fairly strong growth, helping fortify Vietnam's trade surplus with the second largest economy in Latin America. The recent statistics released by the Trade Office of the Vietnamese Embassy in Mexico showed that Vietnam earned nearly US$467 million from exports to [...]

Textile and garment exporters face downturn Posted: 23 Jul 2012 11:51 PM PDT Textile and garment producers are struggling from a lack of export contracts and market difficulties due to the ongoing public debt crisis in the EU, said the Vietnam Textile and Apparel Association (Vitas). Deputy chairman of Vitas Pham Xuan Hong said that only large textile and garment exporters have received contracts for the third quarter. [...]

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