Vietnam Business News

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• Interest rates may rise slightly in 2013: expert
• Vietnam three-year bonds rise most in four months after auction
• Ministry unfazed by foreign telecom firms’ exit
• One-third of State groups face alarming financial woes
• Solar power considered for metro stations
• Vietnam International Agricultural Fair concludes
• Revised law on personal income tax passed
• PVN to sign EPC contract for Nghi Son oil refinery soon
• Economic crisis hits 60% of SMEs
• Vietnamese businesses learn more about North Europe’s potential

Interest rates may rise slightly in 2013: expert Posted: 22 Nov 2012 07:50 PM PST Expert Nguyen Tri Hieu projected that interest rates in Vietnam may not fall but increase slightly in the following year on expectation that inflation would climb to 8-10% in 2013, the Saigon Times reported. When the domestic currency, the dong, weakens, local people will seek gold and foreign currency as safe haven assets. Small lenders [...]

Vietnam three-year bonds rise most in four months after auction Posted: 22 Nov 2012 07:50 PM PST Vietnam's three-year bonds rose the most in almost four months after yields fell at a government debt auction. The dong weakened. The State Treasury sold 1 trillion dong ($48 million) of three-year notes with a 9.29 percent coupon yesterday, according to a posting on the Hanoi Stock Exchange website. The treasury sold the same tenor [...]

Ministry unfazed by foreign telecom firms’ exit Posted: 22 Nov 2012 07:42 PM PST Given that a number of telecom firms have pulled out of the Vietnamese market and that a foreign organization has remarked the local telecom market is losing its appeal, the Ministry of Information and Communications said it is not duly concerned. For some sectors, poor foreign investment or exodus of foreign players is seen as [...]

One-third of State groups face alarming financial woes Posted: 22 Nov 2012 07:40 PM PST The State-owned economic sector is encountering an increasingly heavy debt burden, with many enterprises falling into a red-alert financial status, according to a report from the Ministry of Finance. According to a report on last year's financial situations and business operations of 91 State-owned groups and corporations sent to National Assembly deputies, the total liabilities [...]

Solar power considered for metro stations Posted: 22 Nov 2012 07:40 PM PST The contractor of the Metro Line No. 1 in HCMC is considering inclusion of a solar power system for metro stations and approach roads in the technical design of the metro line. The consortium grouping Japan's Sumimoto Corporation and Vietnam's Civil Engineering Construction Corporation No. 6 (Cienco 6) expects to complete the technical design of [...]

Vietnam International Agricultural Fair concludes Posted: 22 Nov 2012 07:39 PM PST The Vietnam International Agricultural Fair 2012, jointly organized by the Ministries of Agriculture and Rural Development, Trade and Industry and the People's Committee of Can Tho City, ended on November 21st in Can Tho City. The six-day event attracted more than 150,000 visitors. Under the theme, "Cooperation to develop agriculture, promote export and build new [...]

Revised law on personal income tax passed Posted: 22 Nov 2012 07:35 PM PST The National Assembly passed the Law on the Amendment and Supplement to a Number of Articles of the Law on Personal Income Tax with a majority of votes on November 22. Under the revised law, the level at which taxpayers start paying personal income tax will be VND9 million per month, from the current VND4 [...]

PVN to sign EPC contract for Nghi Son oil refinery soon Posted: 22 Nov 2012 07:34 PM PST Vietnam Oil and Gas Group (PVN) will next month sign an engineering, procurement and construction (EPC) contract with a consortium of five contractors to carry out the Nghi Son oil refinery plant project, said Do Van Hau, general director of PVN. The contractors are Japan's JGC Corporation and Chiyoda, France's Technip Coflexip, South Korea's GS [...]

Economic crisis hits 60% of SMEs Posted: 22 Nov 2012 07:32 PM PST  Most small and medium-sized enterprises (SMEs) in Vietnam have become vulnerable under the impact of the global economic crisis, says a report announced by the Central Institute for Economic Management on Wednesday. The report named "Characteristics of the Vietnamese business environment – Evidence from a small and medium enterprise survey in 2011" is based on [...]

Vietnamese businesses learn more about North Europe’s potential Posted: 22 Nov 2012 07:32 PM PST The Vietnam Chamber of Commerce and Industry and the Embassy of Finland in Hanoi organized a business seminar on Finland and the North European markets on November 21st in Hanoi, as part of the Vietnam-EU Business Forum 2012. At the seminar, economists introduced the potential of North Europe in general, and Finland in particular, to [...]

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