Vietnam Business News

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• HCMC businesses secure preferential loans
• Huge additional FDI capital poured in 2012
• Auto registration fee cuts seen not steep enough
• Positive apparel, footwear orders for 2013
• Vietnam welcomes nearly seven million foreign visitors
• HCMC remittance hits US$4.1 billion
• Rice export prices stable at low levels
• Vietnam-South Africa trade increases
• Vietnam listed in top five investors in Cambodia
• Expert advises on solutions to save property market

HCMC businesses secure preferential loans Posted: 26 Dec 2012 07:01 PM PST Commercial banks have agreed to provide loans at 11.8-12% per year for 22 small and medium-sized enterprises based in Ho Chi Minh City's Go Vap district. The deal was signed yesterday between local businesses and eight lenders including Sacombank, DongABank, VietinBank, MBBank, BIDV, Agribank, Nam A Bank and ACB. The total capital loaned under the [...]

Huge additional FDI capital poured in 2012 Posted: 26 Dec 2012 07:01 PM PST This year's fresh foreign direct investment (FDI) attraction has continued falling sharply compared to last year but additional capital poured into operational FDI projects has surged, said the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. FIA said in a recent report that the nation as of the middle of this month [...]

Auto registration fee cuts seen not steep enough Posted: 26 Dec 2012 07:01 PM PST While the Government's draft resolution implies automobile registration fee reductions would start next year to support consumers and enterprises, there are concerns the fee will remain high and cause little positive impact on the gloomy auto market. According to this draft resolution, the proposed personal car ownership restriction fee will not be put into practice. [...]

Positive apparel, footwear orders for 2013 Posted: 26 Dec 2012 07:00 PM PST Local enterprises have obtained a stable number of apparel and footwear orders for the first few months of 2013, although some customers have yet to decide on volume or price. Dang Phuong Dung, vice chairwoman and general secretary of the Vietnam Textile and Apparel Association (VITAS), said there are no specific statistics on enterprises' orders [...]

Vietnam welcomes nearly seven million foreign visitors Posted: 26 Dec 2012 06:59 PM PST Vietnam has this year welcomed more than 6.84 million foreign visitors, a year-on-year rise of 9.5%, with arrivals from traditional markets remaining high. The number of international arrivals in the nation this year is 340,000 higher than earlier estimated by the tourism industry. However, the 2012 growth rate at 9.5% is lower than the 19.1% [...]

HCMC remittance hits US$4.1 billion Posted: 26 Dec 2012 06:59 PM PST Overseas remittance to HCMC this year has reached US$4.1 billion, up 15% against 2011, most of which came from the U.S. and Europe. Nguyen Hoang Minh, deputy director of the central bank's HCMC branch, said the higher amount of remittance will help stabilize the exchange rate next year. Last year, only 15% of remittance was [...]

Rice export prices stable at low levels Posted: 26 Dec 2012 06:57 PM PST Rice export prices are stable at low levels now in the absence of large rice export orders, said rice exporters. As bulk orders are few, Nguyen Van Tien, general director of An Giang Import Export Company (Angimex), said his firm would face many challenges early next year, especially when the winter-spring crop harvest is nearing. [...]

Vietnam-South Africa trade increases Posted: 26 Dec 2012 06:57 PM PST Two-way trade between Vietnam and South Africa reached 750 million USD in 2012. Of the figure, Vietnam's export turnover was 630 million USD, up 5 percent compared to the set target of 600 million USD, while its import value stood at 120 million USD. Vietnam's exports to South Africa, the country's largest trade partner in [...]

Vietnam listed in top five investors in Cambodia Posted: 26 Dec 2012 06:56 PM PST Vietnam has so far this year had 124 investment projects with a combined capital of US$2.5 billion in Cambodia, becoming one of the 5th biggest foreign investors in the neighbor country. The figures were released at a recent conference reviewing three years of Vietnamese trade and investment promotion in Cambodia, held by the Association of [...]

Expert advises on solutions to save property market Posted: 26 Dec 2012 02:29 AM PST State intervention is always necessary when the market cannot adjust itself, and the Vietnam's central bank has begun to take the move, said a senior economist. The latest information shows that the State Bank of Vietnam (SBV) will provide a certain amount of money to "tackle bad debts, focusing on real estate-related debts”. Most proposals [...]

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