Vietnam Business News

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• Vinacomin urged to sell down coal stockpiles
• Shares tumble as predicted
• Vietnam may start buying bad debt in Q1: newspaper
• Frozen property market forces investors to change purpose of projects
• Many Indian firms eager for investments in VN
• National tourism photograph contest launched
• Sapa resort covered with frost
• Vietnamese fear foreign group monopolizes regional galvanized iron sheet market
• Starbucks Vietnam debut challenged by light coffee image
• Vietnam may have cut policy rates too quickly in 2012, IMF says

Vinacomin urged to sell down coal stockpiles Posted: 14 Jan 2013 01:11 AM PST The Vietnam National Coal and Mineral Industries Corporation (Vinacomin) was urged to take prompt measures to sell off remaining coal stocks from the beginning of this year. The request was made by Deputy Prime Minister Hoang Trung Hai after the corporation reported it had about 7.5 million tonnes of coal in stock by the end [...]

Shares tumble as predicted Posted: 14 Jan 2013 01:10 AM PST Shares failed to add value this morning on both national stock exchanges, following predictions from securities analysts of a correction. On the HCM City Stock Exchange, the VN-Index lost one per cent to reach 458.08 points. Trading value and volume fetched VNÐ689.17 billion (US$32.8 million) across more than 48.8 million shares. Only three of the [...]

Vietnam may start buying bad debt in Q1: newspaper Posted: 14 Jan 2013 01:09 AM PST Vietnam may start buying non-performing loans in the first quarter of this year, a local newspaper reported on Monday, as deteriorating asset quality threatens to further strain the economy. The government is likely to establish a national asset management company this month to deal with the debts, the Planning and Investment Ministry-runDau Tunewspaper quoted a [...]

Frozen property market forces investors to change purpose of projects Posted: 14 Jan 2013 01:08 AM PST A number of real estate investors have been seeking to change their commercial housing projects into social projects such as hospitals or low-income housing. Thai Binh Plaza project to be turned into a general hospital Recently, Binh Duong Building Stone Ltd. Company got approval from the HCM City Department of Planning and Architecture to change [...]

Many Indian firms eager for investments in VN Posted: 14 Jan 2013 01:08 AM PST Deputy PM Vu Van Ninh on January 10 received the heads of the Federation of Indian Chambers of Commerce and Industry and executives of many big companies during his visit to India. Deputy PM Vu Van Ninh (R) and Mr. Praveer Sinha, CEO of TATA Electricity Company, Head of the Indian business delegation Deputy PM [...]

National tourism photograph contest launched Posted: 14 Jan 2013 01:00 AM PST The Vietnam National Administration of Tourism (VNAT) on January 11 launched its sixth nationwide tourism photograph contest, themed "Vietnam: Endless Beauty". VNAT Deputy General Director Hoang Thi Diep and many photographers and reporters were present at the ceremony. The organising board said every entry submitted advertises Vietnam's tourism. Each should therefore reflect the country's diverse [...]

Sapa resort covered with frost Posted: 14 Jan 2013 12:56 AM PST O Quy Ho Hill in the northern mountain town of Sapa has been entirely coated in a thick layer of frost after a strong cold spell hit the region. The cold spell caused local temperatures to drop to below 1 degree Celsius on December 30. Dense fog and drizzle made travel very difficult, especially in [...]

Vietnamese fear foreign group monopolizes regional galvanized iron sheet market Posted: 13 Jan 2013 11:07 PM PST Vietnamese Hoa Sen Group has sent a letter to competent agencies, expressing its anxiety that Bluescope Steel group in South East Asia intends to acquire and monopolize the market, according to Dau tu.  Hoa Sen Group has learned from its different sources of information that Bluescope Steel in South East Asia has been exerting its [...]

Starbucks Vietnam debut challenged by light coffee image Posted: 13 Jan 2013 09:07 PM PST Starbucks will have to convince architect Tran Cao Tho and his friends to switch from stronger and cheaper coffee at their neighborhood cafe when it enters Vietnam next month. He is part of the sizeable under-35 generation the Seattle- based company will seek to convert when opening its first stores in the Southeast Asian nation, [...]

Vietnam may have cut policy rates too quickly in 2012, IMF says Posted: 13 Jan 2013 07:26 PM PST Vietnam still faces inflationary pressures, according to the International Monetary Fund, which said it would have preferred a slower pace of interest-rate cuts last year by the country's central bank. The State Bank of Vietnam reduced borrowing costs for a sixth time last year on Dec. 24, two weeks after the IMF said the central [...]

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