Vietnam Business News

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• Foreign investors seek opportunities in Quang Ninh
• Minister in the dark about state of real estate market
• Japan remains Vietnam’s largest investor
• Wood firms face labor shortage in peak season
• Vietnam-US trade to hit 50 billion USD by 2020
• Slump in pangasius exports
• Domestic banks see rising assets
• VietJetAir drums up first int’l service
• City to study UK financial district model
• Demand for packaged gold rings spikes

Foreign investors seek opportunities in Quang Ninh Posted: 27 Jan 2013 08:51 PM PST Many foreign investors have shown interest in expanding investments in the northern province of Quang Ninh. The provincial People’s Committee has worked with a delegation from Japan's Mie Prefecture which is seeking investment opportunities. Head of the delegation Ono Kinichi hoped to have long-term co-operation with Quang Ninh and expressed a desire to develop agricultural [...]

Minister in the dark about state of real estate market Posted: 27 Jan 2013 08:47 PM PST There have been no complete statistics on the actual state of the real estate market, especially financial contributions of homebuyers to the ongoing projects, Minister of Construction Trinh Dinh Dung said on Thursday. Currently, about 42,200 houses, mostly apartments, 100,000 square meters of office space, 100,000 square meters of retail space and 7.9 million square [...]

Japan remains Vietnam’s largest investor Posted: 27 Jan 2013 08:46 PM PST This month's foreign direct investment (FDI) approvals are forecast to be higher than in the same period last year, with Japan continuing taking the lead, according to the Foreign Investment Agency (FIA). Like last year, Japan has this month continued topping the list of foreign investors in Vietnam, with total capital pledges amounting to US$157.7 [...]

Wood firms face labor shortage in peak season Posted: 27 Jan 2013 08:44 PM PST January is the peak month for wood processing enterprises to fulfill orders ahead of the Lunar New Year (Tet) holiday that falls on February 10, but the sector is facing a labor shortage. According to a wood exporter in Dong Nai Province, his firm's number of orders this month is 10-15% higher than in previous [...]

Vietnam-US trade to hit 50 billion USD by 2020 Posted: 27 Jan 2013 08:43 PM PST Vietnam-US trade turnover is expected to reach 50 billion USD in 2020, according to the American Chamber of Commerce in Vietnam (AmCham). AmCham forecasts that bilateral trade will exceed 27 billion USD by 2013 with Vietnam’s exports estimated at 22.5 billion USD, and will rise to 33 billion USD by 2015 with exports totalling more [...]

Slump in pangasius exports Posted: 27 Jan 2013 08:42 PM PST According to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development, the breeding area for pangasius fish is currently around 5,910 hectares with output around 1.28 million tons and export turnover of US$1.74 billion, a year-on-year drop of 3.4 percent. These figures were revealed at a meeting organized by the ministry on [...]

Domestic banks see rising assets Posted: 27 Jan 2013 08:40 PM PST Domestic banks are recovering thanks to an increase in assets, according to a report from the State Bank of Viet Nam. The total assets of the banking system reached VND4,906 trillion (US$233 billion) as of November 30 last year with an increase of VND 67.3 trillion ($3.2 billion) or 1.39 per cent compared to the [...]

VietJetAir drums up first int’l service Posted: 27 Jan 2013 08:40 PM PST Vietnam's low-cost carrier VietJetAir has launched promotional fares from just $10 for its services between HCMC and Bangkok on www.vietjetair.com for travel until the end of 2013. Bookings are available about two weeks ahead of the carrier's launch of the first international route. VietJetAir confirmed on Thursday that it would launch the HCMC-Bangkok service on [...]

City to study UK financial district model Posted: 27 Jan 2013 08:39 PM PST HCMC vice chairwoman Nguyen Thi Hong will visit the UK next week in anticipation of gleaning some insight there for the development of a financial and service center in Thu Thiem New Urban Area. At a meeting with Hong at City Hall on Thursday, Crispin Simon, managing director responsible for trade development at UK Trade [...]

Demand for packaged gold rings spikes Posted: 27 Jan 2013 08:39 PM PST More than 10 days after Decree No 24/2012/ND-CP on the management of gold business activities took effect the domestic market has seen some significant changes. Under the decree, the purchase or sale of gold bars by organisations and individuals shall be done only at credit institutions and enterprises licensed by the central bank to trade [...]

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