Vietnam Business News

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• Viet Nam’s export to Egypt reaches US$201 million
• Nearly 2,000 enterprises revived
• Vinamilk to be in top Asian firms list
• Dong/dollar exchange rate stabilization doesn’t benefit businesses
• VIB offers service of bill discount for exporters
• Southern hub property kicks off
• HSBC optimistic about Vietnam’s economy
• Steelmakers operate below capacity
• REE says to boost power sector investment
• Vietnam set to reduce coffee farming acreage

Viet Nam’s export to Egypt reaches US$201 million Posted: 05 Sep 2012 09:42 AM PDT Viet Nam’s export turnover to Egypt reached US$201 million in the first seven months of the year, said Viet Nam Ambassador to Egypt Dao Thanh Chung. Chung said the country’s exports to Egypt in 2010 amounted to $200 million while last year’s were $280 million, adding that Vietnamese enterprises have brought considerable goods into the [...]

Nearly 2,000 enterprises revived Posted: 05 Sep 2012 09:40 AM PDT In June and July 2012, nearly 2,000 companies resumed their operation, Deputy Minister of Finance Do Hoang Anh Tuan told the media recently. According to the Ministry of Finance, the number of companies that earned profit in the first quarter of 2012 increased by 2.4 percent and over 2.8 percent in the second quarter. The [...]

Vinamilk to be in top Asian firms list Posted: 05 Sep 2012 09:38 AM PDT Vietnam’s largest dairy producer, Vinamilk, is in the wailing list to become one of the 50 best publicly trading companies in the Asia – Pacific region or the 2012 Asia's Fab 50, according to Forbes. Forbes said Vinamilk, is the only Vietnamese representative out of the 12 companies which has "the tools to appear in [...]

Dong/dollar exchange rate stabilization doesn’t benefit businesses Posted: 05 Sep 2012 09:35 AM PDT Analysts' prediction about the dong/dollar exchange rate stabilization has come true. However, businesses do not want to see the exchange rate stay put. According to the State Bank of Vietnam, the foreign currency market has been stable in the last month with the exchange rate hovering around 20,830-20,860 dong per dollar. Most of the transactions [...]

VIB offers service of bill discount for exporters Posted: 05 Sep 2012 09:34 AM PDT Vietnam International Bank (VIB) has introduced the bill discount service with various attractive benefits for export enterprises. Accordingly, after delivery of goods, exporters bring a bill of exchange and a full set of export documents to VIB where they will have up to 100 per cent value of their bill discounted. The service does not [...]

Southern hub property kicks off Posted: 05 Sep 2012 09:32 AM PDT Many Ho Chi Minh City realty projects are resuming construction after long delays due to capital distress. In late August 2012, Khang Gia Real Estate Investment and Development placed 321 apartment units on sale belonging to block 1 under Khang Gia Tower project in Go Vap district with a price averaging VND11.2 million ($533,000) per [...]

HSBC optimistic about Vietnam’s economy Posted: 05 Sep 2012 09:31 AM PDT The Hong Kong and Shanghai Banking Corporation (HSBC) on September 5 released its report on Vietnam 's macro economy, expressing its optimism about the country's economic prospect. " With patience and strong reform momentum, when the dust settles, Vietnam should find its self in a trimmer shape and more ready compete when the global economy recovers," it said. According to the report, even with higher domestic oil prices, inflation dropped [...]

Steelmakers operate below capacity Posted: 05 Sep 2012 09:26 AM PDT Most local steel producers are operating at 60% below capacity and many factories have been shut down due to shrinking demand, according to the Vietnam Steel Association (VSA). VSA general secretary Dinh Huy Tam told the Daily that total steel sales in August reached only 350,000 tons compared to the monthly average of 500,000-600,000 tons. [...]

REE says to boost power sector investment Posted: 05 Sep 2012 09:24 AM PDT The power sector is on REE's target, so the HCMC-based firm will steadily step up investment in hydropower and thermo-power companies, said Nguyen Thi Mai Thanh, chairwoman and CEO of Refrigeration Electrical Engineering Corporation (REE). Prior to March, REE already became a major shareholder in many power companies such as Thac Ba Hydropower with a [...]

Vietnam set to reduce coffee farming acreage Posted: 05 Sep 2012 09:23 AM PDT Vietnam's total coffee acreage will be scaled down by 50,000 hectares to about 500,000 hectares by 2020, according to a Ministry of Agriculture and Rural Development decision. The ministry in Decision No.1987/QD-BNN-TT approves a master plan to develop the coffee industry by 2020 and a vision towards 2030. The plan is envisioned slashing the coffee [...]

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