Vietnam Business News

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• Promotion programme targets Australian tourists
• Firms urged to work together
• Lower rates help tra fish breeders take the plunge
• BIDV to list shares within next three months
• Shares continue to trade sluggishly
• A “garden city” takes root in Binh Duong
• Increased regulation of staple goods prices discussed
• More investors could seek special investment carrots
• PetroVietnam unveils divestment plans
• Boosting exports to US market

Promotion programme targets Australian tourists Posted: 15 Oct 2012 05:47 AM PDT Australia is mentioned as one of the key tourism markets that Vietnam will focus on tapping from now to 2020, according to the Vietnam Tourism Development Strategy with a vision towards 2030. In realising the strategy, promotion days for Vietnam's hospitality industry were held in Melbourne and Sydney on October 10 and 12, introducing the [...]

Firms urged to work together Posted: 15 Oct 2012 05:45 AM PDT Viet Nam Chamber of Commerce and Industry’ president Vu Tien Loc has called on Vietnamese business people to unite to sharpen their competitive edge in the global market. Making the comment at the Viet Nam Business Forum in Ha Noi on Saturday, Loc said this year’s event took place at a time when the business [...]

Lower rates help tra fish breeders take the plunge Posted: 15 Oct 2012 05:34 AM PDT A Government instruction issued in early August decreed that tra fish farmers wishing to expand their business should be able to borrow money at the favourable interest rate of 11 per cent, with many provinces already taking action. The Government decision came after a series of meetings between ministries, the State Bank of Vietnam and [...]

BIDV to list shares within next three months Posted: 15 Oct 2012 05:32 AM PDT The Bank for Investment and Development of Vietnam (BIDV) will list 2.3 billion shares on the HCM Stock Exchange under the code BID. The exchange, which approved the listing last week, requires the bank to prepare for the listing within 90 days of the exchange’s decision. The bank sold 84.7 million shares in an initial public offering last [...]

Shares continue to trade sluggishly Posted: 15 Oct 2012 05:31 AM PDT Shares continued to slide this morning’s trading on both national stock exchanges. On the HCM City Stock Exchange, the VN-Index failed to retain the rally during most of the morning session, retreating 0.04 per cent to 392.37 points. Trading was sluggish, with market value halving compared to the previous morning’s trade to just VND244.4 billion [...]

A “garden city” takes root in Binh Duong Posted: 15 Oct 2012 05:29 AM PDT Binh Duong New City project, which is expected to be Ho Chi Minh City's satellite city, is considered as one of the most important projects by the Vietnam government. A tree was watered at the Ngo Thoi Nhiem school by Le Thanh Cung, chairman of Binh Duong's People Committee (left) and Yuichiro Hata, Japan's Minister [...]

Increased regulation of staple goods prices discussed Posted: 15 Oct 2012 05:25 AM PDT The Ministry of Finance is working on mechanisms to regulate the prices of staple goods including petrol, electricity and coal. A litre of octane 92 gasoline is sold at VND23,650 According to the ministry, the scenarios are expected to help regulate the market in the last months of this year and beyond.   She did [...]

More investors could seek special investment carrots Posted: 15 Oct 2012 05:23 AM PDT Other investors could look to follow in Samsung's foot steps, after the electronics giant received special incentives to expand its investments in Vietnam. Minister of Planning and Investment Bui Quang Vinh, in a meeting on foreign direct investment strategy in Hanoi last week, said the government could propose National Assembly revise Law on Corporate Income [...]

PetroVietnam unveils divestment plans Posted: 15 Oct 2012 05:23 AM PDT PetroVietnam is seeking a merger between its financial arm PetroVietnam Finance Corp (PVFC) and a bank in a bid to facilitate its divestment of capital from the financial company to realize the restructuring scheme. At a regular meeting in Hanoi , PetroVietnam Chairman Phung Dinh Thuc said that the parent company would not be able [...]

Boosting exports to US market Posted: 15 Oct 2012 05:22 AM PDT Vietnam-US trade turnover reached $18 billion in the first three quarters of 2012, representing a year-on-year increase of 13.22 percent, according to the Ministry of Industry and Trade (MoIT). The MoIT says Vietnam's exports to the US earned $14.32 billion in the past nine months, up 14.83 percent over the same period last year. With [...]

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