Vietnam Business News

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• August 8: Vietnam stocks resume gain, liquidity stays low
• Vietnam banking restructuring sees first merger
• Vietnam Airlines offers 300,000 promo tickets
• Tra fish traders still make profits albeit low
• City developers keep offering new condo products
• Concerns arise over SOE role in economy
• Vietnam starts FTA talks with S. Korea
• City banks see profits shrinking
• Nearly 47,000 set up in seven months
• Shareholder land rights transfers pose risks

August 8: Vietnam stocks resume gain, liquidity stays low Posted: 08 Aug 2012 08:15 AM PDT Vietnamese shares edged up today on thin trading as selling pressure eased. The benchmark VN Index gained 1.07 points or 0.25% to 423.57. Volume fell further by 28% to 23.8 million shares worth of VND349.5 billion. Put through trading contribute 1.4 million shares worth of VND29.35 billion. The market breadth turned positive on the primary [...]

Vietnam banking restructuring sees first merger Posted: 08 Aug 2012 08:14 AM PDT The State Bank of Vietnam, the country's central bank, on Tuesday gave the final approval for the merger between SHB and Habubank, which is the first merger to take place under the master plan to restructure the whole system, initiated in April. The merger was done through the initiative of Habubank, or the Hanoi Building [...]

Vietnam Airlines offers 300,000 promo tickets Posted: 08 Aug 2012 08:13 AM PDT Vietnam Airlines on Monday launched the autumn promotion program 2012 with an estimated 300,000 discounted air tickets on sales with many tickets being marked down by up to 50% for both international and domestic flights. According to the air carrier, there will be 200,000 promotional tickets for domestic flights and 100,000 for international flights. Under [...]

Tra fish traders still make profits albeit low Posted: 08 Aug 2012 08:12 AM PDT Many tra fish processing and export companies have reported sharp declines in their second-quarter profits due to high costs, weak purchasing power and low export prices. The Vietnam Association of Seafood Exporters and Producers (VASEP) said around 70% of tra fish processing-export firms raise material fish on their own. The biggest tra fish exporter in [...]

City developers keep offering new condo products Posted: 08 Aug 2012 08:10 AM PDT On the contrary to small numbers of condos marketed in the city in the year's first half, a larger number of apartments are being launched onto the market at less than VND1 billion a unit. Late last week, Nam Long Investment Corporation marketed the Ehome 3 Tay Saigon condo project on Ho Hoc Lam Street [...]

Concerns arise over SOE role in economy Posted: 08 Aug 2012 08:10 AM PDT The plan for State-owned enterprise (SOE) restructuring prepared by the Ministry of Finance and passed by the Government on July 17 has overlooked a very important suggestion of the National Assembly (NA) given in the latest sitting. NA deputies, echoing views of experts in recent seminars and forums, had called for creating a level-playing field [...]

Vietnam starts FTA talks with S. Korea Posted: 08 Aug 2012 08:06 AM PDT Minister of Industry and Trade Vu Huy Hoang and his South Korean counterpart Bark Tae Ho on Monday announced the official launch of the Vietnam-Korea Free Trade Agreement (FTA) negotiations. Under this agreement, many items will enjoy deeper and faster tax cuts than in the prevalent South Korea-ASEAN FTA. The first round of negotiation will [...]

City banks see profits shrinking Posted: 08 Aug 2012 08:06 AM PDT Banks in HCMC posted up a combined pre-tax profit of just VND5.7 trillion in the January-July period, or 33% of last year's total, according to the HCMC branch of the State Bank of Vietnam (SBV). Besides, the lenders estimate a further fall in profits in the near future as interest rates of old loans are [...]

Nearly 47,000 set up in seven months Posted: 08 Aug 2012 08:05 AM PDT Nearly 47,000 businesses in Vietnam were established in the first seven months of this year, according to the General Department of Taxation. Of the sum, private firms accounted for the majority with 42,349. About 940 enterprises that suspended operations in the first half of the year restarted business last month. Pre-tax profits for all enterprises [...]

Shareholder land rights transfers pose risks Posted: 08 Aug 2012 08:05 AM PDT The charter capital of an enterprise is made up by contributions from shareholders. Each shareholder makes a capital contribution by transferring cash or assets to the company. The receiving company becomes the owner of the assets contributed, and the contributing shareholder becomes the owner of shares representing part ownership in the company. The requirements for [...]

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