Vietnam Business News

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• Property investors still have butterflies in the stomach
• Exhibition highlights Vietnam-India relations
• Gold moves flat
• Finance confab opens next month in Hanoi
• Sacombank inaugurates Binh Thuan branch
• State Audit fails to control all public investments
• Vietnam spends more on electricity from China
• Airlines’ bid to suspend taxes rejected
• Half of tourism projects in Binh Thuan active
• Vina Properties takes over Novotel Phan Thiet

Property investors still have butterflies in the stomach Posted: 10 Aug 2012 09:03 AM PDT The jury is out on whether stepping into property investment is a wise decision. Vietcombank recently rolled out a loan package with zero per cent interest rate in the first year to customers at a property project funded by the bank. About special supportive lending rates currently seen in the market Ho Chi Minh City-based [...]

Exhibition highlights Vietnam-India relations Posted: 10 Aug 2012 08:58 AM PDT An exhibition highlighting the relationship between Vietnam and India opened in Hanoi on August 10. Co-organised by the Ministry of Culture, Sports and Tourism (MCST) and the Indian Embassy, the event marks the 40 th anniversary of full diplomatic ties and five years of strategic partnership between the two countries. Speaking at the opening ceremony, [...]

Gold moves flat Posted: 10 Aug 2012 08:57 AM PDT Price of gold in Vietnam stalled at VND42.3 million a tael (1.2 ounces) on August 10 as global price had not changed significantly with most investors standing on the sidelines. Saigon Jewelry Company, Vietnam's biggest gold processer and trader, bought the metal at VND42.14 million and sold at VND42.29 million as of 9.40am Vietnamese time. [...]

Finance confab opens next month in Hanoi Posted: 10 Aug 2012 08:53 AM PDT The 2012 Vietnam Finance Conference and Exhibition, with the theme Enhancing Fiscal Sustainability: Mid-term Spending and Modern Technology Solutions, will kick off in Hanoi on September 20, organisers said at a press conference on Aug. 9. The ninth Vietnam Finance Conference, previously named Vietnam ICT in Finance, will be co-organised by the Ministry of Finance [...]

Sacombank inaugurates Binh Thuan branch Posted: 10 Aug 2012 08:44 AM PDT Having operated in the province for six years, the branch focuses on providing loans for small and medium-sized enterprises, dragon fruit growers and service, tourism and export projects. The branch now has over 17,000 individual and corporate customers.

State Audit fails to control all public investments Posted: 10 Aug 2012 08:44 AM PDT The State Audit of Vietnam has voiced concerns that it is unable to put under control all public investment projects, though irregularities to some extent have been uncovered in all those projects that are inspected. The operation scale of the State Audit is rather small compared to the demand of supervising and controlling projects using [...]

Vietnam spends more on electricity from China Posted: 10 Aug 2012 08:44 AM PDT Vietnam's electricity volumes and prices purchased from China have risen continuously this year despite the complaints of many local firms that the State utility Electricity of Vietnam (EVN) failed to buy up their output. According to EVN, its electricity production output and purchase was estimated at 10.380 billion kWh in July, of which production output [...]

Airlines’ bid to suspend taxes rejected Posted: 10 Aug 2012 08:37 AM PDT The Ministry of Finance has rejected the proposals of Vietnam Airlines and Jetstar Pacific Airlines to suspend the collection of VAT and environment taxes on jet fuel if the oil price rises to US$118 a barrel or more. In a document sent to related ministries and agencies and the two companies on Tuesday, Deputy Minister [...]

Half of tourism projects in Binh Thuan active Posted: 10 Aug 2012 08:35 AM PDT Less than half of over 400 tourism projects licensed in Binh Thuan Province are active now, and the provincial government will inspect projects and revoke inactive and slow-moving ones, an official said. Ngo Minh Chinh, director of the provincial Department of Culture, Sports and Tourism, said that the province would continue to check tourism projects [...]

Vina Properties takes over Novotel Phan Thiet Posted: 10 Aug 2012 08:35 AM PDT Vina Properties Development Group said it had taken over Novotel Phan Thiet Ocean Dunes & Golf Resort in Phan Thiet City, Binh Thuan Province. Details of the deal were not revealed but a source from Vina Properties said the acquisition was completed a few days ago. The new owner has changed the hotel's name to [...]

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