Vietnam Business News

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• Central bank okays higher credit growth targets for lenders
• Automobile industry out of the woods
• Local tourism fails to boost vacationers’ spending
• What’s behind the figures about growth, inflation rates and bad debts?
• Real estate market takes long-term view
• Businesses likely to increase transport fee
• Gold retreats slightly
• Viettel wins telecom contract in Peru
• UK investors learn about Vietnam’s potential
• Enertec Expo 2012 gets underway in HCM City

Central bank okays higher credit growth targets for lenders Posted: 15 Aug 2012 11:06 AM PDT The central banks has just raised credit growth targets for several banks in a move to pump more funds into the economy, with some enjoying a sharp increase of ten percentage points to 27% from the previous 17%. Early this year, the State Bank of Vietnam set credit growth rates of 17%, 15%, 13% and [...]

Automobile industry out of the woods Posted: 15 Aug 2012 11:06 AM PDT The domestic automobile market is showing signs of bouncing back with auto sales in July increasing slightly. Clear-cut policies needed to rescue automobile market According to the Vietnam Association of Automobile Manufacturers (VAMA), vehicle sales in July, including domestically assembled and imported vehicles, reached 7,433, 15 percent higher than the previous month. In the reviewed [...]

Local tourism fails to boost vacationers’ spending Posted: 15 Aug 2012 10:58 AM PDT While many international holidaymakers earmark several hundred US dollars to buy gifts during their Vietnam trips, the local tourism industry fails to showcase souvenirs attractive enough to make the vacationers open their wallets. Tourists staying in five-star hotels can spend up to $400 a day on shopping, but there are not many choices for them [...]

What’s behind the figures about growth, inflation rates and bad debts? Posted: 15 Aug 2012 10:58 AM PDT International observers highly appreciate the inflation decrease in Vietnam, but keeps cautious with their predictions about the growth prospect and repeatedly express their worries about the bank bad debts. The inflation and GDP growth rates The reports released in late July and early August 2012 by JP Morgan Chase, HSBC and ANZ all emphad the [...]

Real estate market takes long-term view Posted: 15 Aug 2012 10:50 AM PDT The domestic real estate market will continue to suffer difficulties in the short term and the market needs more policies to help it make a profit in the long term, said experts. “The segment of luxury apartments will continue to endure many difficulties until the end of this year and even throughout next year because [...]

Businesses likely to increase transport fee Posted: 15 Aug 2012 10:47 AM PDT Bui Danh Lien, chairman of the Hanoi Transport Association, on Tuesday said that transport businesses are considering an increase on freight charges to prevent losses in view of the recent petrol price hike by VND1,100 a liter on August 13. According to Lien, with the price of petrol increasing three times within just one month, [...]

Gold retreats slightly Posted: 15 Aug 2012 10:47 AM PDT With global price showing a downward trend, price of gold in Vietnam stalled at VND42.44 million a tael (1.2 ounces) on August 15, decreasing VND90,000 after yesterday's trading session. Price of gold surged on Monday to a two-month high at VND42.51 million a tael, but slipped to VND42.44 at the opening of today's trading session. [...]

Viettel wins telecom contract in Peru Posted: 15 Aug 2012 10:42 AM PDT Viettel Peru SAC, an affiliate of  the Vietnam Military Telecommunications Group (Viettel Group) has recently won a new contract to provide telecom services in Peru, according to Peru’s private investment promotion agency ProInversión (ProInversión). Viettel Peru will supply mobile services in Peru through 900 MHz frequencies. The company expects to cover 15,000 mobile subscribers after [...]

UK investors learn about Vietnam’s potential Posted: 15 Aug 2012 10:40 AM PDT Representatives from nearly 70 UK firms and trade organisations interested in doing business in Vietnam had the chance to find out about Hanoi's potential for investment at a conference in London on August 14. The Vietnam-UK Trade and Investment Opportunities Conference was organised by Vietnam 's Embassy in the UK and the UK-ASEAN Business Council [...]

Enertec Expo 2012 gets underway in HCM City Posted: 15 Aug 2012 10:29 AM PDT The international exhibition on power saving products and green energies, Enertec Expo 2012, got underway on August 15 at the Tan Binh Exhibition and Convention Centre in Ho Chi Minh City (HCMC). Jointly held by the city's Department of Industry and Trade and the HCMC Power Corporation, the exhibition which will last until August 18 [...]

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