Vietnam Business News

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• Vietnam to establish accumulative fund for public debt payment
• Vietnam increases cashew exports to India
• Property market still dark
• Tourism to find its place in the sun
• VPBank lifts curtain on high mobilisation rate
• IZ investors set to get twinkle in their eyes
• Vietnam to put coins back into circulation
• Fruit, veggie exports may reach US$1 billion this year
• SJC gold bar trading ‘active’
• Hanoi retail space to face tougher competition

Vietnam to establish accumulative fund for public debt payment Posted: 15 Jan 2013 07:11 PM PST Prime Minister Nguyen Tan Dung has recently signed Decision No. 01/2013/QĐ-TTg, approving the plan to set up an "accumulative fund" to pay the country's public debts on March 1 this year, the state-run newswire Hanoimoi.com.vn reported. The fund will be managed by the Ministry of Finance (MoF) and is expected to ensure the payment for [...]

Vietnam increases cashew exports to India Posted: 15 Jan 2013 07:03 PM PST Vietnam ships more than 160,000 tons of cashew nuts abroad annually, and has become the largest cashew nut exporter to the US. India lost its status as top cashew nut exporter to Vietnam four years back and is now a major importer of cashew nuts from Vietnam, according to the Ministry of Trade and Industry. [...]

Property market still dark Posted: 15 Jan 2013 07:01 PM PST Despite the Vietnamese government's  latest moves aiming to increase the liquidation of the real estate products, the forecast for the property market this year remains gloomy. Marc Townsend, general director of CB Richard Ellis Vietnam, said that the year 2013 would remain a buyers' market, in which end-users could find good deals and speculators would [...]

Tourism to find its place in the sun Posted: 15 Jan 2013 07:00 PM PST Vietnam National Administration of Tourism deputy chief Nguyen Manh Cuong sheds some light on major tourism events in 2013 and voiced the need to boost brand promotion investment to articulate Vietnam's tourism potential. How has the tourism industry gone with brand promotion after its new slogan and logo were unveiled in May, 2012? Vietnam tourism [...]

VPBank lifts curtain on high mobilisation rate Posted: 15 Jan 2013 06:59 PM PST VPBank has revealed high mobilisation and credit growth rates compared to its peers. By the end of 2012, VPBank had mobilised capital of VND60,000 billion ($2.88 billion), an 88 per cent on-year increase. The bank, in which Singapore's Overseas Chinese Banking Corporation (OCBC) holds a 15 per cent stake, saw its total outstanding loans grow [...]

IZ investors set to get twinkle in their eyes Posted: 15 Jan 2013 06:59 PM PST The Mekong Delta's Can Tho city is scaling up efforts to charm various industrial zone investors. City-based relevant state agencies were recently urged by local authorities to accelerate industrial zone (IZ) construction in the area and they must review IZ infrastructure investor capacity and take action towards delayed project investors. "Delayed projects shall have their [...]

Vietnam to put coins back into circulation Posted: 15 Jan 2013 06:57 PM PST Vietnam will continue the circulation of coins after a period of discontinuation, one official said. Coins almost entirely removed from common circulation Nguyen Chi Thanh, an official of the State Bank of Vietnam (SBV), said the bank has made a proposal to restart circulation of coins, which would solve some of the problems that caused [...]

Fruit, veggie exports may reach US$1 billion this year Posted: 15 Jan 2013 06:56 PM PST The Viet Nam Fruit Association (Vinafruit) has set the target of US$1 billion for fruit and vegetable exports in 2013. Last year, the sector's export value reached US$770 million, up 30% against 2011. Its biggest export markets included China, Italy, Japan, the US and Russia. Thanks to high export growth, Viet Nam has advanced into [...]

SJC gold bar trading ‘active’ Posted: 15 Jan 2013 06:53 PM PST The head office of Saigon Jewelry Company (SJC) in HCMC was full of gold sellers and buyers on Monday morning, pushing the total transaction volume before 10 a.m. to around 1,000 gold taels. The figure was equal to the whole volume of last weekend, said SJC deputy sales manager Nguyen Cong Tuong. High selling pressure [...]

Hanoi retail space to face tougher competition Posted: 15 Jan 2013 06:53 PM PST Project owners of the retail space segment in Hanoi will face a fiercer competition in the near future as new supply is rising while the current economic conditions remain unfavorable, many market research companies said. According to a recent report of Knight Frank Vietnam, the present economic difficulties along with increasing unemployment had eroded incomes [...]

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