Vietnam Business News

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• City well stocked with commodities for Tet Lunar New Year
• Thousands of European tourists flock to city
• C.bank’s Binh admits bad debt surge, downplays gold rise
• Export firms face sales crackdown
• French seminar draws investors to Vietnam
• Dong Nai sees rising foreign investment
• SOEs need to be restructured before privatisation
• Trading improves despite unstable rally
• Keeping inflation below 8 pct in 2013
• PetroVietnam calls for European investment

City well stocked with commodities for Tet Lunar New Year Posted: 15 Nov 2012 01:34 AM PST The Economic-Budget Committee of the Ho Chi Minh City People's Council on November 13 examined the preparations being made for stocking of commodities for the coming Tet Lunar New Year holidays at the warehouse run by Saigon Union of Trading Cooperatives (Saigon Co.op). Bui Hanh Thu, deputy director general of Saigon Co.op, said that they [...]

Thousands of European tourists flock to city Posted: 15 Nov 2012 01:31 AM PST The five-star cruise ship Costa Victoria of Costa Crociere S.p.A with around 2,100 tourists on board, mostly from Italy, Spain, the United Kingdom and Germany, will dock at Hiep Phuoc Port in HCMC today. According to Saigontourist Travel Service Company, the provider of travel services for Costa Victoria in Vietnam, passengers of the cruise ship [...]

C.bank’s Binh admits bad debt surge, downplays gold rise Posted: 15 Nov 2012 01:28 AM PST Central bank governor Nguyen Van Binh, speaking at the National Assembly Q&A session in Hanoi on Tuesday, acknowledged a worrying uptick in bad debt in the banking system but downplayed the widening difference between local and international gold prices. Bad debt rising rapidly As of September 30, bad debt in the banking system had amounted [...]

Export firms face sales crackdown Posted: 15 Nov 2012 01:26 AM PST Currently, export processing enterprises enjoyed import tax incentives on parts, equipment and value added tax, together with preferential customs procedures and no restrictions on their domestic sales. The regulation is one of the draft amendments of the Decree 29/2008/ND-CP regulating the operation of industrial and export processing zones. If firms’ domestic sales exceeded the margin, [...]

French seminar draws investors to Vietnam Posted: 15 Nov 2012 01:23 AM PST A seminar entitled " Vietnam , trade and industrial partner in Southeast Asia" took place in the French city of Lyon on November 13. The event was jointly organised by the Vietnamese Embassy in France 's Trade Office, the Rhon – Alpes Chamber of Commerce and Industry and the Lyon Chamber of Commerce and Industry. [...]

Dong Nai sees rising foreign investment Posted: 15 Nov 2012 01:23 AM PST More than 800 million USD in foreign direct investment has been disbursed so far this year in the southern province of Dong Nai, the highest figure since 2008, said provincial Department of Planning and Investment director Bo Ngoc Thu. The province attracted 42 new foreign-invested projects this year, with a total investment of 622 million [...]

SOEs need to be restructured before privatisation Posted: 15 Nov 2012 01:21 AM PST State-owned enterprises (SOEs) need to be restructured for better operation after being privatised, said Dr. Nguyen Kim Toan, Former Head of the Government Office's Enterprise Renovation Department at a recent conference in Hanoi.  SOEs need to be restructured before privatisation According to Dr. Toan, in recent years, privatisation has moved at a slower pace because [...]

Trading improves despite unstable rally Posted: 15 Nov 2012 01:20 AM PST Shares were still unstable despite posting gains in HCM City this morning. The VN-Index on the HCM City Stock Exchange was flat, edging up 0.01 per cent to 387.73 points. Only around 60 listed stocks increased, while the other 180 codes retreated or closed unchanged. On the bright side, trading value increased, jumping 30 per [...]

Keeping inflation below 8 pct in 2013 Posted: 15 Nov 2012 01:18 AM PST It requires constant efforts in the next 10 years to contain inflation, stabilise the macroeconomy, and build a firm foundation for growth. This was emphasized by the National Assembly in its newly adopted resolution o­n the 2013 plan for socio-economic development. A VOV reporter interviewed Vu Viet Ngoan, Chairman of the National Financial Supervisory Commission, [...]

PetroVietnam calls for European investment Posted: 15 Nov 2012 01:17 AM PST A seminar to call for European investment in five core fields of the Vietnam National Oil and Gas Group (PetroVietnam) took place in Hanoi on November 14. The event was jointly organised by PetroVietnam and the European Chamber of Commerce in Vietnam. At the event, PetroVietnam General Director Do Van Hau said the group needs [...]

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