Vietnam Business News

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• Real estate demand stimulus scheme showing positive results
• Building-material traders cut prices
• Low prices hit rubber exports
• Property market remains gloomy in year ahead
• Positive signs for farm product exports
• Vietnam restricts gold drain
• Foreign investment plunges during first seven months
• Vietnamese consumer confidence remains strong
• Hanoi industrial parks see strong rise in investment
• Vietnam’s small banks work around interest limit to lure deposits

Real estate demand stimulus scheme showing positive results Posted: 29 Jul 2012 08:50 PM PDT Many Hanoi-based property investors admitted improved performance on promotion programmes which have mostly drawn attention of customers with real demand. According to DTJ Company-the sale agent for Indochina Plaza Hanoi project, the investor's cooperation with Vietcombank to offer home loans at zero percent along with a 20pct of interior furniture value for free has brought [...]

Building-material traders cut prices Posted: 29 Jul 2012 08:49 PM PDT Most construction material traders in HCM City say they are willing to cut prices and suffer losses in order to stimulate consumption and clear their inventory. Under pressure caused by frozen real estate market, high inventory and capital shortage, they have endured the “worst situation in a long time.” they said. Many traders are unable [...]

Low prices hit rubber exports Posted: 29 Jul 2012 08:46 PM PDT Local rubber exporters have seen profits falling sharply given a steady decline of rubber prices in recent times. Prices of SVR3L latex exported to China hovered in the range of 17,500-17,600 Chinese yuan a ton at Mong Cai-Dong Hung border gate on Thursday, dropping by 100 yuan against the previous day and nearly 1,000 yuan [...]

Property market remains gloomy in year ahead Posted: 29 Jul 2012 08:45 PM PDT The property market will likely remain gloomy until the end of next year, a trading floor operator forecast. Despite repeated interest rate cuts and the easier access to capital, the number of houses sold in recent months is on the downtrend, said Huynh Kim Doan, director of Eden Real in HCMC. "We sold 30 apartment [...]

Positive signs for farm product exports Posted: 29 Jul 2012 08:43 PM PDT The country obtained US$15.9 billion from the exportation of agro-fishery-forestry products from January-July, up 12.4% year-on-year, thanks to the large contribution of an estimated US$8.9 billion from agro items, according to the latest figures by the Ministry of Agriculture and Rural Development. Most agro-fishery-forestry products witnessed steady growth in exports, except for rice and rubber. [...]

Vietnam restricts gold drain Posted: 29 Jul 2012 08:42 PM PDT Vietnamese and foreign passport holders are not allowed to carry big volumes of gold bars and gold material upon exit and entry, according to a draft circular of the central bank. When carrying gold jewelry and fine arts made of gold weighing 300 grams or above, one must declare to the customs and pay taxes [...]

Foreign investment plunges during first seven months Posted: 29 Jul 2012 08:41 PM PDT Vietnam attracted US$8 billion in foreign direct investment (FDI) during the first seven months of this year, down by 67% year-on-year, according to the Foreign Investment Agency’s latest statistics. A total of 584 new foreign-invested projects, worth US$5.2 billion, were granted licences during the period, about 56% of the number at the same time last [...]

Vietnamese consumer confidence remains strong Posted: 29 Jul 2012 08:39 PM PDT According to a Nielsen survey, 46 percent of Vietnamese respondents believed that their job prospects are good or excellent, a slight drop of 7 percent compared to the first quarter of 2012 and 11 percent against 2011. More than 50 percent of consumers said that their personal finances for the next 12 months should be [...]

Hanoi industrial parks see strong rise in investment Posted: 29 Jul 2012 08:38 PM PDT In the first seven months of this year, industrial parks in Hanoi attracted 271 million USD of investment in both foreign and domestic projects, a 3.8-fold increase year-on-year. Of the amount, nine new FDI projects accounted for over 112 million USD while domestic investors poured 53 billion VND into two new projects. The remainder was [...]

Vietnam’s small banks work around interest limit to lure deposits Posted: 29 Jul 2012 08:38 PM PDT Small banks facing a liquidity crunch have breached the central bank's short-term deposit cap of 9 percent in an attempt to attract more funds, and experts say the trend could spread to even large lenders. Staff members of a small-sized bank in Hanoi said for short-term deposits of more than VND300 million (US$14,380), the bank [...]

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