Vietnam Business News

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• Japan remains leading investor in Vietnam
• Cement sales down so far this year
• Letting credit take root
• Cool voices to calm market
• SJC reprocesses 45,000 taels of gold
• Tourism sector mulls promo to cope with falling arrivals
• Trade deficit stays low this month
• Farmers still snub high-grade rice
• Vietnamese American community a major market
• FDI flows into small projects

Japan remains leading investor in Vietnam Posted: 28 Aug 2012 09:35 AM PDT Japan is now the biggest investor in Vietnam, with total registered investment capital of US$4.33 billion, accounting for 51.1% of total FDI in the country, according to the Foreign Investment Department under the Ministry of Planning and Investment. It is followed by Samoa with a total capital of US$889.8 million of FDI, while the Republic [...]

Cement sales down so far this year Posted: 28 Aug 2012 09:34 AM PDT Total domestic consumption of cement during the first seven months of this year was 27.6 million tonnes, down by 3 per cent against the same time last year and 50 per cent of the yearly target, according to the Ministry of Construction. In July alone, o­nly 4.14 million tonnes of cement were sold, 300,000 tonnes [...]

Letting credit take root Posted: 28 Aug 2012 09:32 AM PDT Banks are mulling tapping agriculture and rural areas' potential to bolster credit growth. The State Bank envisages making public a new regulation covering credit organisation network expansion next month. Accordingly, local banks are encouraged to spread their arms to rural and remote areas. Around 60 per cent of banks, bank branches and transaction offices are [...]

Cool voices to calm market Posted: 28 Aug 2012 09:30 AM PDT Industry experts are suggesting ways to put the local financial market under a firm hand.  Central Institute for Economic Management deputy chief Vo Tri Thanh said specific regulations to contain interest-based conflicts between bank main shareholders and relevant businesses have existed in many countries. However, traders deliberately dodge regulations and cross ownership control adds to [...]

SJC reprocesses 45,000 taels of gold Posted: 28 Aug 2012 09:26 AM PDT Saigon Jewelry Holding Co. (SJC) finished reprocessing over 45,000 taels of deformed gold bars on Monday, replenishing gold supply in the market, said a senior executive from SJC. The source informed SJC gold bar factory had resumed operation. The factory is handling 7,000 taels of deformed SJC gold bars as well as reprocessing disfigured gold [...]

Tourism sector mulls promo to cope with falling arrivals Posted: 28 Aug 2012 09:20 AM PDT The number of foreign visitors to the country has kept falling this month, contracting 4.3% year-on-year, prompting the local tourism industry to mull promotions for the inbound segment. The Vietnam National Administration of Tourism (VNAT) quoted a report of the General Statistics Office as saying the nation welcomed an estimated 525,300 foreign travelers this month, [...]

Trade deficit stays low this month Posted: 28 Aug 2012 09:20 AM PDT After two months of enjoying big trade surplus, Vietnam has incurred a trade deficit this month with US$150 million which is rather low compared to US$279 million in February and US$527 million in May, reports Chinhphu.vn. In the eight-month period, January, April, June and July brought a trade surplus, with high numbers of US$361 million [...]

Farmers still snub high-grade rice Posted: 28 Aug 2012 09:16 AM PDT High-grade paddy types have yet to prove their advantages as their prices are barely higher than low-grade categories, and profits even lower than the popular low-grade rice IR 50404. Therefore, farmers in the Mekong Delta are still growing the low-grade rice strain as long as there are markets for the farm produce IR 50404 more [...]

Vietnamese American community a major market Posted: 28 Aug 2012 09:16 AM PDT Opportunities for Vietnamese businesses in the US and ways of penetrating the market were the main points up for discussion at a conference held by the Trade Promotions Department under the Ministry of Industry and Trade (MOIT), in Ho Chi Minh City on August 28. At the conference, Nguyen Duy Khien, Director of the American [...]

FDI flows into small projects Posted: 28 Aug 2012 09:16 AM PDT Most of the foreign direct investment (FDI) projects in the first eight months of this year are of small and medium scale, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. In a report released on Monday, FIA said that as of August 20, 672 fresh FDI projects had been [...]

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