Vietnam Business News

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• Oil refinery begins full operation
• Binh Thuan removes 13 industrial zones
• Local, world gold price difference widens
• MMA to hold mobile marketing conference in city
• Central bank injects cash into ACB after Kien’s arrest
• Bac Ninh seeks incentives for Samsung project
• Binh says bad debt at safe ratio before end of office term
• Low-cost home buyers must be patient
• Farmers face difficulties in using livestock as collateral
• Road to getting transport sector in order

Oil refinery begins full operation Posted: 22 Aug 2012 08:06 PM PDT Dung Quat oil refinery resumed its full capacity operation on August 21 after halting production on August 8 because of technical problems. The refinery’s petroleum products would be sold again starting from August 24, said Nguyen Hoai Giang, general director of Binh Son Petro-chemical Refinery Co which operates the refinery. The country’s first oil refinery [...]

Binh Thuan removes 13 industrial zones Posted: 22 Aug 2012 08:05 PM PDT Binh Thuan Province has sent a proposal to the Ministry of Industry and Trade seeking approval for removing 13 industrial zones from its development plan until 2015 as the zones have been largely inactive for long. The provincial government ten years ago announced a master plan of developing 40 industrial zones covering a combined 1,628 [...]

Local, world gold price difference widens Posted: 22 Aug 2012 08:03 PM PDT The local gold price jumped sharply on Tuesday and was VND2.1 million per tael higher than the world price. At 2:00 p.m., Saigon Jewelry Company (SJC) quoted the yellow metal at VND42.85 million and VND42.95 million a tael for buying and selling respectively, surging by VND350,000 against the previous day. Other retail shops also posted [...]

MMA to hold mobile marketing conference in city Posted: 22 Aug 2012 08:02 PM PDT The U.S.-based Mobile Marketing Association (MMA) says it will organize the MMA Forum in HCMC for the first time in October, where global experts will address growing demand for mobile marketing in the country. The conference will take place at the hotel InterContinental Asiana Saigon in downtown HCMC on October 25, giving an opportunity for [...]

Central bank injects cash into ACB after Kien’s arrest Posted: 22 Aug 2012 08:02 PM PDT The central bank on Tuesday pumped trillions of Vietnam dong into Asia Commercial Bank (ACB) to help it cope with massive cash withdrawals after former ACB vice chairman Nguyen Duc Kien had been arrested the previous night. Huge stacks of money delivered The central bank's branch in HCMC on Tuesday provided ACB with trillions of [...]

Bac Ninh seeks incentives for Samsung project Posted: 22 Aug 2012 08:01 PM PDT Bac Ninh Province is seeking Government approval to give investment incentives to an expansion project of Samsung Electronics Vietnam (SEV) in which its capital will rise to US$1.5 billion from the current US$670 million. The province has written to the Prime Minister suggesting incentives for the investment expansion of SEV in the Yen Phong Industrial [...]

Binh says bad debt at safe ratio before end of office term Posted: 22 Aug 2012 08:01 PM PDT Governor Nguyen Van Binh of the State Bank of Vietnam (SBV) has vowed to bring the bad debt ratio in the banking system back to safety before he ends his term of office. "Bad debt accumulated over the years… will be brought back to the safety level right in this term of office," Binh told [...]

Low-cost home buyers must be patient Posted: 22 Aug 2012 08:01 PM PDT Information about low-cost houses has been mentioned much lately, but the public wonders whether this housing model can develop and when low-income earners can approach such housing products. The program to develop low-cost housing projects is moving at a slow pace due to several reasons, including failure to lure property developers. A report of the [...]

Farmers face difficulties in using livestock as collateral Posted: 22 Aug 2012 08:00 PM PDT Finance expert Bui Kien Thanh spoke to Nong thon Ngay nay (Countryside Today) newspaper about the problems farmers encounter in getting access to credit through the banking system. Economically speaking, collateral is the main tool used when asking for credit from commercial banks. Why don’t the banks accept pigs or poultry as collateral? It is [...]

Road to getting transport sector in order Posted: 22 Aug 2012 08:00 PM PDT Industry players are weighing over a draft decree to put the auto transport market into order. The Ministry of Transport (MoT) just submitted to the prime minister a document relevant to a draft decree amending and supplementing some articles in Decree 91/2009/ND-CP dated October 21, 2009 regulating road transport business and business conditions for service [...]

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